Document:

f10k2010ex10x_enterologics.htm

EXHIBIT 10.10

 

 

This Amendment entered into on this  21st of March 2011 refers to Notes entered into between Enterologics, Inc., a Nevada corporation and Surge Partners, Ltd., a Delaware Corp.

WHEREAS

 

Enterologics, Inc seeks to amend Section 1.01.0 of the Notes previously executed and

WHEREAS

Surge Partners, Ltd is willing to provide amend those Notes as further delineated below and

THEREFORE

Section 1.01.1   is amended to read as follows:

 

Due Date.    The entire loan and accrued interest is due and payable on the due date October 9th, 2011or earlier, from the proceeds the Company receives from the sale of any class of securities through a private offering or through a registration statement that has been declared effective by the SEC, such proceeds being in excess of Three Hundred and Fifty Thousand Dollars.

Agreed and Accepted:

Surge Partners, ltd

 

By:/S/ IRV BADER

 

Agreed and Accepted:

Enterologics, Inc

 

By:/S/ BOB  HOERREMPLOYMENT CONTRACT

 

This Employment Agreement is made as of March 11,
2011 and effective as of March 1, 2011 (the “Effective Date”), by and between Anthony K. Miller (“Employee”)
and AlphaTrade. Com a Nevada corporation (the “Company”). In consideration of the premises and for other good and valuable
consideration, and with the intent to be legally bound, the parties hereto agree as follows:

 

RECITALS

 

WHEREAS, the Company desires to employ Employee
on the terms and conditions herein stated and Employee accepts such terms of employment.

 

1. Position. During the term of this Agreement, the
Company will employ the Employee, and the Employee will serve the Company in the capacity of President.

 

2. Duties. The Employee will perform duties described
in Section 2.1 coupled and incorporated together with such additional reasonably related duties assigned by the Board of
Directors. Employee reports to the Board of the Directors and Chief Executive Officer (CEO) concurrently.

 

2.1
Responsible for the fiscal management aspects of company operations. Provide leadership to position the company at the
forefront of the industry. Develop a strategic plan to advance the company's mission and objectives and to promote revenue, profitability
and growth as an organization. Oversee and report directly to the board all company operations to insure production efficiency,
quality, service, and cost-effective management of resources.

PRIMARY RESPONSIBILITIES

Develop a strategic plan to advance the company's mission and objectives
and to promote revenue, profitability, and growth as an organization. Oversee company operations to insure production efficiency,
quality, service, and cost-effective management of resources. Plan, develop, and implement strategies for generating resources
and/or revenues for the company. Identify acquisition and merger opportunities and direct implementation activities. Approve company
operational procedures, policies, and standards. Review activity reports and financial statements to determine progress and status
in attaining objectives and revise objectives and plans in accordance with current conditions. Evaluate performance of executives
for compliance with established policies and objectives of the company and contributions in attaining objectives.

    	

    	 

    

Represent the company at directors meetings, committee meetings, and
at formal functions. Promote the company to local, regional, national, and international constituencies. Build a capital raising
network using personal contacts, direct mail, special events, and broker support. Present company report at Annual Stockholder
and Board of Director meetings. Direct company planning and policy-making committees. Oversee foreign operations to include evaluating
operating and financial performance; and other duties as assigned by the Board of Directors.

 

NOTE: This Employee is the sole contact between contracted staff and
the CEO. 2.2 The Company’s business requires travel throughout North America, to fulfill its business objectives. When
not traveling for business, Employee will work based from Los Angeles and travel as required to support the business operations,
at the Company’s expense.

 

3. Service. Except with
respect to the matters specified below, Employee will devote sufficient working time and efforts to adequately attend the business
and affairs of the Company. Employee will work full time and the Company agrees that Employee may have outside business activities.
In addition, Employee shall not be precluded from: (a) from engaging in appropriate civic, charitable or religious activities;
(b) from serving on the boards of directors of other entities, including other public companies, with the consent of the Company,
which consent shall not be unreasonably withheld; (c) from providing incidental assistance to family members on matters of
family business, so long as the foregoing activities and service do not conflict with the Employee's responsibilities to the Company;
and (d) from completing, managing and supervising Employee’s personal business affairs.

 

4. Term of Agreement.
The Company agrees to continue the Employee's employment, and the Employee agrees to remain in the employ of the Company, pursuant
to the terms of this Agreement for an initial period of 4 months, but this Agreement shall be subject to extension for and up to
an additional Twenty Four (24) months after the Effective Date with board approval, unless the Employee’s employment is earlier
terminated or modified pursuant to the provisions of this Agreement.

 

5. Compensation and Benefits.

 

5.1 Compensation.

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5.1.1. Base Salary. Employee
shall receive a salary of $5,000.00 per month (the “Base Salary”), in accordance with the general payroll practices
of the Company. There will be an annual performance review to determine additional compensation and raises due to the Employee.

 

5.1.2 Expenses. The Company
will reimburse (monthly) the Employee for all approved and reasonable or necessary expenses incurred by the Employee in connection
with the Company's business including: entertainment, airfare, automobile, hotel and miscellaneous expenses incurred by Employee.
Employee shall deliver a full accounting of expenses on a monthly basis. All travel must be approved by the CEO and/or the Board
in order to qualify for reimbursement.

 

5.1.3 Common Stock Purchase
Warrants. The Board of Directors will determine shares of common stock warrants issued upon the signing of this employment
agreement. The warrants shall be exercisable for a term of 2 years from the date of issuance at a competitive exercise price decided
by the Board of Directors.

 

5.1.4 Relocation Expenses. NONE

5.1.5 Signing Bonus. NONE

 

5.1.6 Annual Review and Performance. Employee will be subject
to a review and bonus program developed by the Board of Directors and Review Committees.

 

6. Termination.

 

6.1 Events of Termination.
The Employee's employment with the Company shall terminate upon any one of the following:

 

6.1.1 Thirty (30) days after
the date of a written notice sent to the Employee stating the Company's determination, made in good faith, that it is terminating
the Employee for “Cause” as defined under Section 6.2 below (“Termination for Cause”); or

 

6.1.2 Thirty (30) days after
the date of a written notice sent to the Employee stating the Company's determination, made in good faith that, due to a mental
or physical incapacity, the Employee has been unable to perform his duties under this Agreement for a period of not less than six
(6) consecutive months (“Termination for Disability”); or

 

6.1.3 Upon the Employee's death
(“Termination Upon Death”); or

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6.1.4 The date of a notice sent
to the Company from the Employee stating that the Employee is electing to terminate his employment with the Company (“Voluntary
Termination”).

 

6.2 “Cause” Defined.
For purposes of this Agreement, “Cause” for the Employee's termination will exist at any time after the occurrence
of one or more of the following events:

 

6.2.1 Any willful act or acts
of dishonesty undertaken by the Employee intended to result in substantial gain or personal enrichment of the Employee at the expense
of the Company;

 

6.2.2 Any willful act of gross
misconduct which could reasonably be expected to materially and demonstrably result in damage to the Company. No act, or failure
to act, by the Employee shall be considered “willful” if done, or omitted to be done, by him in good faith and in the
reasonable belief that his act or omission was in the best interest of the Company and/or required by applicable law, or

 

6.2.3 Employee is charged with
the commission of a felony involving moral turpitude.

 

6.2.4 Any violation of the Company’s
Code of Ethics (Attached as Exhibit B)

 

6.2.5. Any violation of Sections
8 or 10 of this Agreement during the term of employment with the Company.

 

6.2.6 The insolvency of the company

 

6.3 Effect of Termination.

 

6.3.1 Termination for Cause
or Voluntary Termination. In the event of any termination of the Employee's employment pursuant to Section 6.1.1 or Section 6.1.5,
the Company shall immediately pay to the Employee the compensation and benefits accrued and otherwise payable to the Employee under
Section 5 through the date of termination. The Employee's rights under the Company's benefit plans, if one should exist shall
be determined under the provisions of those plans.

 

6.3.2 Termination for Disability.
In the event of termination of employment pursuant to Section 6.1.2:

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6.3.2.1 The Company shall immediately
pay to the Employee the compensation and benefits accrued and otherwise payable to the Employee under Section 5 through the date
of termination; and

 

6.3.2.2 The Employee shall receive
any other benefit payments as provided in the Company's standard benefit plans applicable to disability, should such a plan exist.

 

6.3.3 Termination Upon Death.
In the event of termination of employment pursuant to Section 6.1.3, all obligations of the Company and the Employee shall
cease, except the Company shall immediately pay to the Employee (or to the Employee's estate) the compensation and benefits accrued
and otherwise payable to the Employee under Section 5 through the date of termination.

  

7. Non-Disclosure. The
Employee acknowledges that during the course of his employment by the Company, the Company will provide, and the Employee will
acquire, knowledge of special and unique value with respect to the Company's business operations, including, by way of illustration,
the Company's existing and contemplated product line, trade secrets, compilations, business and financial methods or practices,
plans, hardware and software technology products, systems, programs, projects and know-how, pricing, cost of providing service
and equipment, operating and maintenance costs, marketing and selling techniques and information, customer data, customer names
and addresses, customer service requirements, supplier lists, and confidential information relating to the Company's policies,
employees, and/or business strategy (all of such information herein referenced to as the “Confidential Information”).
The Employee recognizes that the business of the Company is dependent upon Confidential Information and that the protection of
the Confidential Information against unauthorized disclosure or use is of critical importance to the Company. The Employee agrees
that, without prior written authorization of the President of the Company, the Employee will not, during his employment, divulge
to any person, directly or indirectly, except to the Company or its officers and agents or as reasonably required in connection
with the Employee’s duties on behalf of the Company, or make any independent use of, except on behalf of the Company, any
of the Company's Confidential Information, whether acquired by the Employee during his employment or not. The Employee further
agrees that the Employee will not, at any time after his employment has ended, use or divulge to any person directly or indirectly
any Confidential Information, or use any Confidential Information in subsequent employment of any nature. If the Employee is subpoenaed,
or is otherwise required by law to testify concerning Confidential Information, the Employee agrees to notify the Company upon
receipt of a subpoena, or upon belief that such testimony shall be required. This nondisclosure provision shall survive the termination
of this Agreement for any reason. The Employee acknowledges that the Company would not employ the Employee but for his covenants
and promises contained in this Section 8.

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8. Return of Documents.
The Employee agrees that if the Employee’s relationship with the Company is terminated (for whatever reason), the Employee
shall not remove or take with the Employee, but will leave with the Company or return to Company, all Confidential Information,
records, files, data, memoranda, reports, customer lists, customer information, product information, price lists, documents and
other information, in whatever form (including on computer disk), and any and all copies thereof, or if such items are not on the
premises of the Company, the Employee agrees to return such items immediately upon the Employee's termination or the request of
the Company. The Employee acknowledges that all such items are and remain the property of the Company.

 

9. No Interference or Solicitation.
The Employee agrees that during his employment, and for a period of one (1) year following the termination of his employment (for
whatever reason), that neither he nor any individual, partner(s), limited partnership, corporation or other entity or business
with which he is in any way affiliated, including, without limitation, any partner, limited partner, director, officer, shareholder,
employee, or agent of any such entity or business, will: (i) request, induce or attempt to influence, directly or indirectly, any
employee of the Company to terminate their employment with the Company; or (ii) employ any person who as of the date of this Agreement
was, or after such date is or was, an employee of the Company. The Employee further agrees that during the period beginning with
the commencement of the Employee’s engagement with the Company and ending six (6) months after the termination of the Employee’s
employment with the Company (for whatever reason), he shall not, directly or indirectly, as an employee, agent, consultant, stockholder,
director, partner or in any other individual or representative capacity of the Company or of any other person, entity or business,
solicit or encourage any present or future customer, supplier, contractor, partner or investor of the Company to terminate or otherwise
alter his, his or its relationship with the Company. This provision shall survive the termination of this Agreement for any reason.

 

10. Injunctive Relief.
The Employee acknowledges and agrees that the agreements and covenants contained in this Agreement are essential to protect the
Confidential Information, business, and goodwill of the Company. The Employee further acknowledges that the breach of any of the
agreements contained herein, including, without limitation, the confidentiality covenants specified in Section 8 and the non-solicitation
covenants specified in Section 10 will give rise to irreparable injury to the Company, inadequately compensable in damages.
Accordingly, the Company shall be entitled to injunctive relief to prevent or cure breaches or threatened breaches of the provisions
of this Agreement and to enforce specific performance of the terms and provisions hereof in any court of competent jurisdiction,
in addition to any other legal or equitable remedies which may be available. The Employee further acknowledges and agrees that
in the event of the termination of the Employee's employment with the Company, whether voluntary or involuntary, that the enforcement
of a remedy hereunder by way of injunction shall not prevent the Employee from earning a reasonable livelihood. The Employee further
acknowledges and agrees that the covenants contained herein are necessary for the protection of the Company's legitimate business
interests ad are reasonable in scope and content.

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11. Miscellaneous.

 

11.1 Indemnification.
The Company agrees to indemnify and defend the Employee to the full extent provided by law, and on terms no less favorable than
any indemnification agreement the Company has at any time during the term of this Agreement with an executive or officer of the
Company. The Company agrees to reimburse Employee upon demand for any costs incurred in requesting or obtaining indemnification
under this paragraph.

 

11.2 Arbitration. The
Employee and the Company shall submit to mandatory binding arbitration in Los Angeles County, California before a sole arbitrator
under the rules of the American Arbitration Association, in any controversy or claim arising out of, or relating to, this Agreement
or any breach hereof. The arbitrator is hereby authorized to permit discovery, including deposition testimony and award to the
prevailing party the costs (including reasonable attorneys' fees and expenses) of any such arbitration.

 

11.3 Severability. If
any provision of this Agreement shall be found by any arbitrator or court of competent jurisdiction to be invalid or unenforceable,
then the parties hereby waive such provision to the extent that it is found to be invalid or unenforceable and to the extent that
to do so would not deprive one of the parties of the substantial benefit of its bargain. Such provision shall, to the extent allowable
by law and the preceding sentence, be modified by such arbitrator or court so that it becomes enforceable and, as modified, shall
be enforced as any other provision hereof, all the other provisions continuing in full force and effect.

 

11.4 No Waiver. The failure
by either party at any time to require performance or compliance by the other of any of its obligations or agreements shall in
no way affect the right to require such performance or compliance at any time thereafter. The waiver by either party of a breach
of any provision hereof shall not be taken or held to be a waiver of any preceding or succeeding breach of such provision or as
a waiver of the provision itself. No waiver of any kind shall be effective or binding, unless it is in writing and is signed by
the party against whom such waiver is sought to be enforced.

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11.5 No Assignment. This
Agreement and all rights hereunder are personal to the Employee and may not be transferred or assigned by the Employee at any time.
The Company may assign its rights, together with its obligations hereunder, to any parent, subsidiary, affiliate or successor,
or in connection with any sale, transfer or other disposition of all or substantially all of its business and assets, provided,
however, that any such assignee assumes the Company's obligations hereunder.

 

11.6 Withholding. All
sums payable to the Employee hereunder shall be reduced by all federal, state, local and other withholding and similar taxes and
payments required by applicable law.

 

11.7 Entire Agreement.
This Agreement constitutes the entire and only agreement between the parties relating to employment of the Employee with the Company,
and this Agreement supersedes and cancels any and all previous contracts, arrangements or understandings with respect thereto.

 

11.8 Amendment. This
Agreement may be amended, modified, superseded, cancelled, renewed or extended only by an agreement in writing executed by both
parties hereto.

 

11.9 Notices. All notices
and other communications required or permitted under this Agreement shall be in writing and hand delivered, sent by facsimile,
sent by registered first class mail, postage pre-paid, or sent by nationally recognized express courier service. Such notices and
other communications shall be effective upon receipt if hand delivered or sent by facsimile, five (5) days after mailing if sent
by mail.

 

11.10 Binding Nature.
This Agreement shall be binding upon, and inure to the benefit of, the successors and personal representatives of the respective
parties hereto.

 

11.11 Headings. The headings
contained in this Agreement are for reference purposes only and shall in no way affect the meaning or interpretation of this Agreement.
In this Agreement, the singular includes the plural, the plural included the singular, the masculine gender includes both male
and female referents and the word “or” is used in the inclusive sense.

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11.12 Counterparts and Fax
Signatures. This Agreement may be executed by Fax and in two or more counterparts, each of which shall be deemed to be an original
but all of which, taken together, constitute one and the same agreement.

 

11.13 Governing Law.
This Agreement and the rights and obligations of the parties hereto shall be construed in accordance with the laws of the State
of Nevada.

 

11.14 Attorneys' Fees.
In the event of any claim, demand or suit arising out of or with respect to this Agreement, the prevailing party shall be entitled
to reasonable costs and attorneys' fees, including any such costs and fees upon appeal.

 

IN WITNESS WHEREOF, the Company and the Employee
have executed this Agreement as of the date first above written.

 

 

	
        “COMPANY”

         ALPHATRADE.COM

        A Nevada corporation

         

        /s/ Gordon Muir

        Gordon Muir

         

        
	
        “Employee”

         

         

         

         /s/ Anthony K. Miller

        Anthony K. Miller

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