Document:

Amendment to Altair Executive Employment Agreement

    Exhibit
      10.3

     

    AMENDMENT

    TO

    ALTAIR
      EXECUTIVE EMPLOYMENT AGREEMENT

     

    THIS
      AMENDMENT TO ALTAIR EXECUTIVE EMPLOYMENT AGREEMENT (the “Amendment”) is made and
      entered into this 17th day of August, 2007, by and between Altairnano, Inc.
      f/k/a Altair Nanomaterials, Inc., a Nevada corporation (the “Company”), Altair
      Nanotechnologies Inc., a Canadian corporation (“Parent”) and Bruce Sabacky
      (“Employee”).

     

    R
      E C
      I T A L S

    

    WHEREAS,
      on June 1, 2006, the Company, Parent and Employee entered into that certain
      Employment Agreement (the “Agreement”) pursuant to which, among other things the
      Company agreed to pay Employee and Employee agreed to accept a specified
      severance benefit if Employee’s employment is terminated by the Company prior to
      June 1, 2008 without cause or by Employee with good reason, and in either case
      90 days before or within one year after a change of control; and

    

    WHEREAS,
      the Company and Employee desire to amend the terms of the severance
      benefit.

    

    AGREEMENT

    

    NOW,
      THEREFORE, in consideration of the matters set forth in the Agreement and for
      other good and valuable consideration, the receipt and sufficiency of which
      is
      hereby acknowledged, the parties hereto agree as follows:

    

    1.    Amendment
      of Section 7.4.
      Section
      7.4 of the Agreement is hereby amended and restated in its entirety to read
      as
      follows:

    

    7.4 Termination
      by Company Without Cause Subsequent to Change of Control.
      If
      Employee's employment is terminated by the Company without Cause pursuant to
      Section 6.2 prior to the Expiration of the Term and within ninety (90) days
      prior to and one year after a Change of Control Event then, in addition to
      complying with the requirements of Section 7.1, the Company shall, upon receipt
      of a written release from Employee in form and substance reasonably satisfactory
      to the Company with respect to all liabilities arising prior to and in
      connection with such termination (other than under Options and this Section),
      continue to pay, when due in accordance with Section 4.1, to or for the benefit
      of Employee or, if applicable, his heirs or estate, as their rights may be,
      one
      hundred percent (100%) of any and all payments of: (i) annual base salary
      through the period ending on the 18-month anniversary of the effective date
      of
      the termination of Employee’s services; (ii) 100% of the Company health benefits
      coverage then in effect (with Company /Employee contributions remaining the
      same
      as during the period immediately prior to termination) through the period ending
      on the 18-month anniversary of the effective date of the termination of
      Employee’s services; and (iii) a bonus equal to sixty percent (60%) of
      Employee’s annual base salary for the year in which termination of Employee’s
      services occurs, payable in one lump sum within 30 days of the end of such
      year.
      A Change of Control Event means (a) any capital reorganization, reclassification
      of the capital stock of Parent, consolidation or merger of Parent with another
      corporation in which Parent is not the survivor (other than a transaction
      effective solely for the purpose of changing the jurisdiction of incorporation
      of Parent), (b) the sale, transfer or other disposition of all or substantially
      all of the Consolidated Company’s assets to another entity, (c) the acquisition
      by a single person (or two or more persons acting as a group, as a group is
      defined for purposes of Section 13(d)(3) under the Securities Exchange Act
      of
      1934, as amended) of more than 40% of the outstanding common shares of Parent.
      

     

    Except
      for the amendment set forth above, the Agreement and all provisions thereof
      shall remain in full force and effect.

     

     

    [Remainder
      of Page Intentionally Left Blank; Signature Page to Follow]

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF, Employee has signed this Amendment to Altair Executive
      Employment Agreement personally and the Company and Parent have caused this
      Amendment to be executed by their duly authorized representatives. 

     

    
      	 	COMPANY: 
	 	 
	 	ALTAIRNANO, INC. 
	 	a Nevada corporation 
	 	 
	 	By: /s/
              Alan
              Gotcher                                                 
               
	 	Name: /s/
              Alan
              Gotcher                                            
               
	 	Title: President
              /
              CEO                                               
               
	 	 
	 	PARENT: 
	 	 
	 	ALTAIR NANOTECHNOLOGIES
              INC. 
	 	a Canadian corporation 
	 	 
	 	By: /s/
              Alan
              Gotcher                                                    
	 	Name: /s/
              Alan
              Gotcher                                              
	 	Title: President
              /
              CEO                                                 
	 	 
	 	EMPLOYEE: 
	 	 
	 	/s/ Bruce
              Sabacky                                                       
               
	 	Bruce Sabacky, an
              individual 

    

     

     

    2<PAGE>

Exhibit 10.6

                  SUMMARY OF CERTAIN COMPENSATION ARRANGEMENTS

On June 28, 2007, the Compensation Committee recommended and the board approved
the following compensation for Michael J. Andrews and Jonathan R.T. Lakey,
Ph.D., M.S.M.:

Michael J. Andrews will receive an annual salary of $180,000 plus standard
benefits, to be reviewed after five months of service. In addition, he received
a stock option to purchase 200,000 shares of company stock vesting as to 25% of
the shares upon grant and an additional 25% of the shares on each of July 1,
2008, 2009, 2010, subject to continuing service. The option had an exercise
price equal to the fair market value on the date of grant, which was two
business days after public announcement of his appointment.

Jonathan R. T. Lakey, Ph.D., M.S.M. will receive a consulting fee of $20,833.33
per month commencing on May 1, 2007 and continuing until Dr. Lakey can be
employed in the United States. Upon such employment, he will receive an annual
salary of $250,000 plus standard benefits. In addition, he received a stock
option to purchase 400,000 shares for company stock vesting as to 25% of the
shares upon grant and an additional 25% of the shares on each of July 1, 2008,
2009, 2010, subject to continuing service. The option had an exercise price
equal to the fair market value on the date of grant, which was two business
days after public announcement of his appointment.Unassociated Document

Exhibit
    10.1
     

     

    August
      17, 2007

     

    Surge
      Global Energy Inc.

    12220
      El
      Camino Real

    Suite
      410

    San
      Diego, CA 92130 USA

    Fax:
      858-704-5011

    

    Attention:
      Mr. David Perez, Chief Executive Officer and Chairman of the Board 

     

    and
      to

     

    Mr.
      David
      Perez

    12220
      El
      Camino Real

    Suite
      410

    San
      Diego, CA 92130 USA

    Fax:
      858-704-5011

    

    Dear
      Sirs:

     

    Re:    Agreement
      to Vote 

     

    For
      good
      and valuable consideration, the receipt and sufficiency of which is hereby
      acknowledged by both Surge Global Energy Inc. and David Perez (the
      "Securityholders") and in consideration of the entering into by Signet Energy
      Inc. ("Signet") of the arrangement agreement dated August , 2007 among Signet,
      Pan Orient Energy Corp., Andora Energy Corporation ("Andora"), 1337686 Alberta
      Ltd. and Valiant Trust Company (the "Arrangement Agreement") relating to the
      combination of the businesses of Andora and Signet (the "Proposed Transaction"),
      Signet, Andora and the Securityholders agree as follows:

     

    Unless
      otherwise defined herein capitalized terms shall have the meanings ascribed
      thereto in the Arrangement Agreement.

     

    1.    Ownership
      of Shares

     

    Signet
      and Andora understand that the Securityholders are the beneficial owner,
      directly or indirectly or exercise voting control over, of at least the number
      of common shares (the "Shares") of Signet, set forth on page 5 hereof.

     

    In
      addition to the foregoing, the term "Shares" will be deemed to also include
      any
      stock dividend, stock split, recapitalization, reclassification, combination
      or
      exchange of shares of capital stock of Signet on, of, or affecting the
      Securityholder's Shares or after the date of this Agreement. 

     

    2.    Revocation
      of Previous Proxies

     

    The
      Securityholders hereby revoke any and all previous proxies with respect to
      the
      Securityholders' Shares.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

       

    

    3.    Covenants
      of the Securityholders

     

    The
      Securityholders covenant and agree with Signet and Andora that, until the
      Release Date, as defined below, to the extent the Proposed Transaction is
      effected as set forth in the Arrangement Agreement and provided the board of
      directors of Signet have received a written fairness opinion from their
      financial advisors indicating that the transaction is fair from a financial
      point of view to the shareholders of Signet, the Securityholders
      shall:

     

    
      	      (a)  	
              attend
                (either in person or by proxy) any meeting of the securityholders
                of
                Signet convened for the purposes of considering the Proposed Transaction
                (including any adjournments and postponements thereof), and at such
                meeting, vote all of the Shares in favour of the Proposed Transaction
                and
                all matters related thereto;

            

    

     

    
      	      (b)  	
              vote
                against (i) any extraordinary corporate transaction, such as a merger,
                rights offering, reorganization, recapitalization, or liquidation
                involving Signet other than the Proposed Transaction and any transaction
                related thereto, (ii) a sale or transfer of a material amount of
                assets of
                Signet or the issuance of any securities of Signet (other than pursuant
                to
                the Signet's incentive share option plan), or (iii) any action that
                is
                reasonably likely to impede, interfere with, delay, postpone, or
                adversely
                affect in any material respect the Proposed
                Transaction;

            

    

     

    
      	      (c)  	
              not
                sell, transfer, assign, pledge, or otherwise dispose of, or enter
                into any
                agreement or understanding relating to the sale, transfer, assignment
                or
                other disposition of the Shares or permit any affiliate of the
                Securityholders to do any of the
                foregoing;

            

    

     

    
      	      (d)  	
              not
                exercise any rights of dissent or appraisal in respect of any resolution
                approving the Proposed Transaction or any aspect thereof or matter
                related
                thereto, and not to exercise any other securityholder or optionholder
                rights or remedies available at common law or pursuant to the Business
                Corporations Act
                (Alberta) or in any manner delay, hinder, prevent, interfere with
                or
                challenge the Proposed Transaction;

            

    

     

    
      	      (e)  	
              promptly
                notify Signet upon any of undersigned's representations or warranties
                contained in this Agreement becoming untrue or incorrect in any material
                respect prior to the Release Date, and for the purposes of this provision,
                each representation and warranty shall be deemed to be given at and
                as of
                all times during such period (irrespective of any language which
                suggests
                that it is only being given as at the date hereof);
                and

            

    

     

    
      	      (f)  	
              deposit
                such number of their Shares into escrow on such terms and only to
                the
                extent as may be required by any stock exchange or other regulatory
                body
                in respect to the Proposed
                Transaction.

            

    

     

    
      Forthe
        purposes of this letter agreement (this “Agreement”), "Release Date" means the
        earlier of: (i) the time at which the Proposed Transaction becomes effective
        (the "Effective Time") on the date on which the Proposed Transaction becomes
        effective (the "Effective Date"), which is to be no later than September
        15,
        2007 unless extended by mutual agreement by the parties to this Agreement;
        or
        (ii) the date of the termination of the Arrangement
        Agreement.

    

     

    4.    Representations
      and Warranties of the Securityholders

     

    Each
      of
      the Securityholders hereby covenants, represents and warrants to Signet and
      Andora that:

     

    
      	      (a)  	
              the
                Securityholder is the legal and beneficial owner of, or exercises
                control
                or direction over, the number of Shares set forth on page 5 hereof,
                set
                forth opposite its name, free and clear of all claims, liens, charges,
                encumbrances and security interests;
                and

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	      (b)  	
              the
                Securityholder is duly authorized to execute and deliver this Agreement
                and this letter is a valid and binding agreement, enforceable against
                the
                Securityholder in accordance with its terms, and the consummation
                by the
                Securityholder of the transaction contemplated hereby will not constitute
                a material violation or breach of or default under, or conflict with,
                any
                contract, commitment, agreement, understanding or arrangement of
                any kind
                to which the Securityholder will be a party and by which the
                Securityholder will be bound at the time of such
                consummation.

            

    

     

    All
      of
      the representations and warranties contained in this section 4 shall be valid
      and true as if recited and repeated as at the Effective Time of the Proposed
      Transaction.

     

    5.    Representations
      and Warranties of Signet

     

    Each
      of
      Signet and Andora hereby represents and warrants to and covenants with the
      Securityholders, as representations and warranties that will survive completion
      of the transactions contemplated hereby, that it is duly authorized to execute
      and deliver this Agreement, this Agreement has been duly executed and delivered
      by it and, upon acceptance by the Securityholders, this Agreement will be a
      valid and binding agreement, enforceable against it in accordance with its
      terms
      and neither the execution of this Agreement nor the consummation by it of the
      transactions contemplated hereby will constitute a violation or breach of or
      default under, or conflict with, any restriction of any kind or any contract,
      commitment, agreement, understanding or arrangement to which it is a party
      and
      by which it is bound. Each of Signet and Andora covenants and agrees that it
      shall comply, in all material respects, with the terms and conditions contained
      in the Arrangement Agreement. 

     

    6.    Termination

     

    In
      the
      event that the Arrangement Agreement is terminated in accordance with the
      respective terms thereof, this Agreement shall immediately terminate. In
      addition, in the event the terms of this Agreement and/or the obligations of
      the
      Securityholders’ hereunder would reasonably be expected to expose any
      Securityholder to a claim for a breach of a duty, fiduciary or otherwise, such
      Securityholder may terminate this Agreement upon written notice to the other
      parties hereto.

     

    7.    Amendment

     

    Except
      as
      expressly set forth herein, this Agreement constitutes the entire agreement
      between the parties and may not be modified, amended, altered or supplemented
      except upon the execution and delivery of a written agreement executed by each
      of the parties hereto.

     

    8.    Assignment

     

    No
      party
      to this Agreement may assign any of its rights or obligations under this
      Agreement without the prior written consent of the other parties.

     

    9.    Disclosure

     

    Prior
      to
      first public disclosure of the existence and terms and conditions of this
      Agreement, neither of the parties hereto shall disclose the existence of this
      Agreement or any details hereof, or the possibility of the Proposed Transaction
      or any terms or conditions or other information concerning the Proposed
      Transaction to any person other than the Securityholder’s advisors, without the
      prior written consent of the other party hereto, except to the extent required
      by law. The existence and terms and conditions of this Agreement may be
      disclosed by Signet and Andora in the press release issued in connection with
      the execution of the Arrangement Agreement, and other public disclosure
      documents in accordance with applicable securities legislation.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

       

    

    10.    Further
      Assurances

     

    Subject
      to the terms and conditions herein, the Securityholders and Signet agree to
      use
      commercially reasonable efforts to take, or cause to be taken, all action and
      to
      do, or cause to be done, all things necessary, proper or advisable under
      applicable laws and regulations, to consummate the transactions contemplated
      by
      this Agreement and the Arrangement Agreement.

     

    11.    Notice

     

    Any
      notice, document or other communication required or permitted to be given to
      the
      parties under this Agreement shall be in writing and be either hand delivered
      or
      faxed (with a following letter) as follows:

     

    
      	      (a)  	
              to
                the Securityholders at the address and fax number listed on the first
                page
                of this Agreement;

            

    

     

    
      	      (b)  	
              to
                Signet:

            

    

     

    
      	 	Signet Energy Inc. 
	 	2600, 144 - 4th
              Avenue SW 
	 	Calgary, AB T2P 3N4 
	 	 
	 	Attention: Executive Chairman and Chief
              Executive Officer 
	 	Fax: (403)
              440-1114; 

    

     

    
      	      (c)  	
              to
                Andora:

            

    

     

    
      
        	 	Andora Energy Corporation
	 	700, 602 - 12th
                Avenue SW
	 	Calgary, AB T2R 1J3
	 	 
	 	Attention: Chief Executive
                Officer
	 	Fax: (403)
                451-1553;

      

    

     

    and
      shall
      be deemed to be received by the party to whom such notice is given on the date
      of delivery or transmission.

     

    12.    Successors

     

    This
      Agreement will be binding upon, enure to the benefit of and be enforceable
      by
      the Securityholders and their respective successors.

     

    13.    Time
      of the Essence

     

    Time
      shall be of the essence of this Agreement.

     

    14.    Applicable
      Law

     

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      Province of Alberta and the laws of Canada applicable therein and the courts
      of
      such Province shall have exclusive jurisdiction over any dispute hereunder,
      to
      which jurisdiction the parties attorn.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

       

    

    15.    Counterpart
      Execution

     

    This
      Agreement may be signed by fax and in counterparts, which, together, shall
      be
      deemed to constitute one valid and binding agreement and delivery of such
      counterparts may be effected by means of telecopier.

     

    
      	 	Yours truly, 
	 	 
	 	SIGNET ENERGY
              INC. 
	 	 
	 	Per: /s/ C.W. Leigh
              Cassidy                                           
              
	 	       C.W.
              Leigh Cassidy 
	 	       Executive Chairman and
              Chief Executive Officer 
	 	 
	 	ANDORA ENERGY
              CORPORATION 
	 	 
	 	Per:_____________________________________ 
	 	      
              Name: 
	 	      
              Title: 

    

     

    Acceptance
      by the Securityholders

     

    The
      foregoing is hereby accepted as of and with effect from the date first above
      written and the undersigned hereby confirms that the undersigned beneficially
      owns or exercises control or direction over:

     

    
      	                    
              11,350,000                        
               
              Shares; 	SURGE GLOBAL ENERGY
              INC.                                    
	 	Name of Securityholder 
	 	 
	 	12220 El Camino Real, Suite
              410 
	 	San Diego, CA 92130 USA Fax:
              858.704.5011 
	 	 
	 	Signatures of authorized signatories
              on
              behalf of  
	 	SURGE GLOBAL ENERGY
              INC. 
	 	 
	 	/s/ David
              Perez                                                    
	 	
              David
                Perez, Chairman & Director 

            
	 	 
	 	 
	                     
              850,000                           
               
              Shares; 	/s/ David
              Perez                                                     
	 	
              DAVID
                PEREZ  

            
	 	 
	 	
              12220 El Camino Real, Suite 410

              San Diego, CA 92130 USA Fax:
                858.704.5011 

            

    

     

    5

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