Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.2

 

AMENDMENT NO. 1

TO

EMPLOYMENT AGREEMENT

This AMENDMENT (“the Amendment”) entered into this 29th day of September 2006, is
by and between Caneum, Inc., a corporation formed under the laws of the State of Nevada with its
principal place of business at 170 Newport Center Drive, Suite 220, Newport Beach, CA 92660
(“Caneum”), and Sukhbir Singh Mudan (“the Employee”).

RECITALS:

WHEREAS, the parties entered into an Employment Agreement dated October 28, 2003, (the
“Employment Agreement”), which provided for the employment of Employee for a period of three years;
and

WHEREAS, the parties desire to amend the Employment Agreement to extend the employment period
on the terms and conditions set forth in this Amendment;

NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged
by the parties hereto, the parties hereto agree as follows.

1. Amended Term. Section 1 of the Employment Agreement is amended to read as follows:

a. The extended term of this Agreement shall be through March 31, 2008, unless it is
terminated earlier as provided herein. The restrictive covenants in Section 9 hereof shall
survive the termination of this Agreement.

b. If on or before March 31, 2008, the Employee shall notify Caneum in writing that he
is willing to negotiate in good faith with Caneum to enter into a new employment agreement,
Caneum shall pay to Employee a bonus of $60,000, payable in cash or common stock of Caneum.

2. Amended Compensation. Section 5(c) of the Employment Agreement is amended to read
as follows:

c. PERFORMANCE COMPENSATION.

Employee will be eligible to receive an annual bonus ranging from nothing up to 100%
of the then applicable Base Salary, less applicable withholding taxes, upon achievement of
annual performance objectives to be determined by the Board and Employee, which such
objectives for the first year of this Agreement will be established within thirty (30) days
of the Effective Date.
Objectives for subsequent years will be determined as set forth herein within thirty
(30) days of each anniversary of this Agreement.

 

 

 

3. Amended Notices. Section 14 of the Employment Agreement is amended to read as
follows:

All notices required or permitted hereunder shall be in writing and shall be deemed
effective: (1) upon personal delivery; (2) upon deposit with the United States Postal
Service, by registered or certified mail, postage prepaid; or (3) in the case of delivery
by nationally recognized overnight delivery service, when received, addressed as follows:

If to Caneum to:

170 Newport Center Drive

Suite 220

Newport Beach, CA 92660

With a copy (which shall not constitute notice) to:

Ronald N. Vance

Attorney at Law

1656 Reunion Avenue

Suite 250

South Jordan, UT 84095

If to the Employee, to:

13542 Caminito Carmel

Del Mar, CA 92014

or to such other address or addresses as either party shall designate to the other in
writing from time to time by like notice.

4. New Employment Agreement Bonus. If Caneum and the Employee shall successfully
negotiate and enter into a new employment agreement on or before April 30, 2008, Caneum shall grant
to Employee a new stock option award to be negotiated in good faith between the parties. In
addition, Caneum shall award Employee a signing bonus of between 25% and 150% of the base salary of
Employee in the new employment agreement, such bonus to be paid either in cash or common stock of
Caneum at the option of Caneum.

5. Consideration for Amendment. For Employee entering into this Amendment, Caneum
shall grant to Employee fully vested, ten-year options to purchase 125,000 shares of common stock
under Caneum’s 2002 Stock Option/Stock Issuance
Plan. The exercise price of the options shall be the ten-day average closing price of the common
stock preceding the date of this Amendment.

 

2

 

6. Effectiveness of Employment Agreement. Except as amended hereby, the Employment
Agreement shall continue to be, and shall remain, in full force and effect. Except as provided
herein, this Amendment shall not be deemed (i) to be a waiver of, or consent to, or a modification
or amendment of, any other term or condition of the Employment Agreement or (ii) to prejudice any
right or rights which either party may now have or may have in the future under or in connection
with the Employment Agreement or any of the instruments or agreements referred to therein, as the
same may be amended, restated, supplemented or otherwise modified from time to time.

7. Incorporation by Reference. The terms of the Employment Agreement are incorporated
herein by reference and shall form a part of this Amendment as if set forth herein in their
entirety.

IN WITNESS WHEREOF, Caneum and the Employee have executed this Amendment effective as of the
day and year first written above.

	 	 	 	 	 
	CANEUM:	 	Caneum, Inc.
	 
	 	 	 	 
	Date: September 29, 2006

	 	By:
	 	/s/ Luan Dang
	 

	 	 	 	 
	 

	 	 	 	Luan Dang, Chairman

Compensation Committee
	 
	 	 	 	 
	EMPLOYEE:
	 	 	 	 
	 
	 	 	 	 
	Date: September 29, 2006	 	/s/ Sukhbir Singh Mudan
	 	 	 
	 	 	Sukhbir Singh Mudan

 

3Filed by Bowne Pure Compliance

 

Exhibit 10.4

 

AMENDMENT NO. 1

TO

EMPLOYMENT AGREEMENT

This AMENDMENT (“the Amendment”) entered into this 29th day of September 2006, is
by and between Caneum, Inc., a corporation formed under the laws of the State of Nevada with its
principal place of business at 170 Newport Center Drive, Suite 220, Newport Beach, CA 92660
(“Caneum”), and Alan S. Knitowski (“the Employee”).

RECITALS:

WHEREAS, the parties entered into an Employment Agreement dated October 28, 2003, (the
“Employment Agreement”), which provided for the employment of Employee for a period of three years;
and

WHEREAS, the parties desire to amend the Employment Agreement to extend the employment period
on the terms and conditions set forth in this Amendment;

NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged
by the parties hereto, the parties hereto agree as follows.

1. Amended Term. The term of the Employment Agreement is extended through March 31,
2008, unless it is terminated earlier as provided therein. If on or before March 31, 2008, the
Employee shall notify Caneum in writing that he is willing to negotiate in good faith with Caneum
to enter into a new employment agreement, Caneum shall pay to Employee a bonus of $60,000, payable
in cash or common stock of Caneum.

2. Amended Compensation. Section 3(b) of the Employment Agreement is amended to read
as follows:

b. Performance Bonus. Employee will be eligible to receive an annual bonus
ranging from nothing up to 100% of the then applicable Base Salary, less applicable
withholding taxes, upon achievement of annual performance objectives to be determined by
the Board and Employee, which such objectives for the first year of this Agreement will be
established within thirty (30) days of the Effective Date. Objectives for subsequent years
will be determined as set forth herein within thirty (30) days of each anniversary of this
Agreement.

3. Amended Notices. Section 11 of the Employment Agreement is amended to read as
follows:

 

 

 

All notices required or permitted hereunder shall be in writing and shall be deemed
effective: (1) upon personal delivery; (2) upon deposit with the United States Postal
Service, by registered or certified mail, postage prepaid; or (3) in the case of delivery
by nationally recognized overnight delivery service, when received, addressed as follows:

If to Caneum to:

170 Newport Center Drive

Suite 220

Newport Beach, CA 92660

With a copy (which shall not constitute notice) to:

Ronald N. Vance

Attorney at Law

1656 Reunion Avenue

Suite 250

South Jordan, UT 84095

If to the Employee, to:

13542 Caminito Carmel

Del Mar, CA 92014

or to such other address or addresses as either party shall designate to the other in
writing from time to time by like notice.

4. New Employment Agreement Bonus. If Caneum and the Employee shall successfully
negotiate and enter into a new employment agreement on or before April 30, 2008, Caneum shall grant
to Employee a new stock option award to be negotiated in good faith between the parties. In
addition, Caneum shall award Employee a signing bonus of between 25% and 150% of the base salary of
Employee in the new employment agreement, such bonus to be paid either in cash or common stock of
Caneum at the option of Caneum.

5. Consideration for Amendment. For Employee entering into this Amendment, Caneum
shall grant to Employee fully vested, ten-year options to purchase 125,000 shares of common stock
under Caneum’s 2002 Stock Option/Stock Issuance Plan. The exercise price of the options shall be
the ten-day average closing price of the common stock preceding the date of this Amendment.

 

2

 

6. Effectiveness of Employment Agreement. Except as amended hereby, the Employment
Agreement shall continue to be, and shall remain, in full force and effect. Except as provided
herein, this Amendment shall not be deemed (i) to be a waiver of, or consent to, or a modification
or amendment of, any other term or condition of the
Employment Agreement or (ii) to prejudice any right or rights which either party may now have
or may have in the future under or in connection with the Employment Agreement or any of the
instruments or agreements referred to therein, as the same may be amended, restated, supplemented
or otherwise modified from time to time.

7. Incorporation by Reference. The terms of the Employment Agreement are incorporated
herein by reference and shall form a part of this Amendment as if set forth herein in their
entirety.

IN WITNESS WHEREOF, Caneum and the Employee have executed this Amendment effective as of the
day and year first written above.

	 	 	 	 	 
	CANEUM:	 	Caneum, Inc.
	 
	 	 	 	 
	Date: September 29, 2006

	 	By:
	 	/s/ Luan Dang
	 

	 	 	 	 
	 

	 	 	 	Luan Dang, Chairman

Compensation Committee
	 
	 	 	 	 
	EMPLOYEE:
	 	 	 	 
	 
	 	 	 	 
	Date: September 29, 2006	 	/s/ Alan S. Knitowski
	 	 	 
	 	 	Alan S. Knitowski

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]