Document:

WWW.EXFILE.COM, INC. -- 13922 -- DSL.NET, INC. -- EXHIBIT 10.8 TO FORM 10-Q

    

      EXHIBIT
        10.8

      

      AMENDMENT
        NO. 1 

      EMPLOYMENT
        AGREEMENT

       

      This
        Amendment No. 1 to Employment Agreement (this “Amendment”),
        effective as of the 2nd
        day of
        November, 2005, is entered into by and between DSL.net,
        Inc.,
        a
        Delaware corporation (the “Company”)
        and
Kirby
        G. Pickle
        (the
“Employee”).
        

       

      WHEREAS,
        the
        Company and the Employee have entered into that certain Employment Agreement
        dated as of the 15th
        day of
        April, 2004 (the “Agreement;”
        capitalized terms used herein and not otherwise defined herein shall have
        the
        meanings ascribed to them in the Agreement); and

       

      WHEREAS,
        the
        Employee’s employment under the Agreement is being terminated as of the date
        hereof; and 

       

      WHEREAS,
        in
        connection with the termination of the Employee’s employment with the Company,
        the Company and the Employee desire to amend the Agreement to delay for a
        period
        of six months and one day from the date hereof the first payment of any and
        all
        nonqualified deferred compensation to which the Employee is otherwise entitled
        under the Agreement in connection with the termination of the Employee’s
        employment with the Company.

       

      NOW,
        THEREFORE,
        in
        consideration of the transactions contemplated hereby and the respective
        covenants and agreements of the parties herein contained, the parties hereto,
        intending to be legally bound hereby, agree as follows:

       

      1.  Amendment. 

       

      (a)  Notwithstanding
        any other provision in the Agreement to the contrary, the Company shall not
        distribute and/or pay to the Employee and the Employee shall not receive
        and/or
        take distribution from the Company for a period of six months and one day
        following the date of the Employee’s termination of employment with the Company
        (the “First
        Distribution Date”)
        any
        amounts that constitute “nonqualified
        deferred compensation,”within
        the meaning of Section 409A of the Internal Revenue Code of 1986, as amended,
        and the regulations promulgated thereunder and/or pursuant thereto, to which
        the
        Employee is otherwise entitled under the Agreement; provided, however, that
        on
        the Company’s first regular payroll payment date following the First
        Distribution Date, the Company shall distribute and deliver to the Employee
        all
        nonqualified deferred compensation to which the Employee shall have been
        otherwise entitled pursuant to the terms of the Agreement for all periods
        from
        the date of termination of the Employee’s employment with the Company through
        and including the First Distribution Date, and, thereafter, the Company shall
        distribute and deliver to the Employee any additional nonqualified deferred
        compensation to which the Employee is 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      entitled
        under the Agreement in accordance with the schedule and terms set forth in
        the
        Agreement.

       

      (b)  For
        purposes of clarification of Section 7(c) of the Agreement, the parties hereto
        acknowledge and agree that (i) the Company shall meet its obligations under
        Section 7(c) of the Agreement with respect to COBRA by reimbursing the Employee
        for the actual, documented, out-of-pocket costs incurred by the Employee
        under
        COBRA for his payment of the applicable monthly COBRA premium for the
        continuation of medical, dental and/or vision coverage under the Company’s
        prevailing health plans and COBRA, to the extent the Employee elects to
        establish COBRA coverage, within 30 days following receipt by the Company
        of
        substantiating proof of the Employee’s payment of the applicable monthly COBRA
        premium, and (ii) the Employee’s COBRA effective date shall be December 1, 2005,
        should the Employee elect to establish COBRA coverage, in recognition of
        the
        fact that the Company has prepaid for the Employee’s medical coverage under
        Company plans through November 30, 2005 (it being understood and agreed to
        that
        the Company shall be permitted to withhold against amounts due to the Employee
        as per normal, ordinary course benefits and payroll practices to cover the
        Employee’s portion of the medical benefits coverage for which the Company has
        prepaid for and through the period ending November 30, 2005).

       

      2.  Effect
        of Amendment.
        The
        Agreement is hereby amended solely as set forth in Section 1 of this Amendment
        and all references hereafter to the Agreement shall be deemed references
        to the
        Agreement as amended by this Amendment.
        Other
        than as specifically modified, altered or amended pursuant to Section 1 above,
        no provision of the Agreement shall be deemed to have been modified, altered
        or
        amended pursuant to this Amendment. This Amendment shall survive the termination
        of the Employee’s employment with the Company, and the termination of the
        Agreement, as set forth in Section 14(k) of the Agreement. 

       

      3.  Miscellaneous.

       

      (a) Governing
        Law; Disputes. The
        validity, interpretation, construction and performance of this Amendment
        shall
        be governed by the laws of the State of Connecticut without regard to its
        conflicts of law principles. The Company shall not be deemed in violation
        or
        breach of this Amendment as a result of any action or inaction on the part
        of
        the Company which was authorized or directed by the Employee. 

       

      (b) Notices.
        All
        notices and other communications provided for hereunder shall be in writing
        and
        shall be delivered to each party hereto by personal delivery, by priority
        overnight delivery sent via a nationally recognized courier (charges for
        the
        account of sender), by facsimile transmission or by registered or certified
        U.S.
        mail, return receipt requested, addressed as follows:

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      if
        to the
        Company, to:

       

      

      DSL.net,
        Inc.

      545
        Long
        Wharf Drive, 5th
        Floor

      New
        Haven, CT 06511

      Attn:
        Chief Executive Officer

      Facsimile: 203-624-4231

      Telephone: 203-772-1000

      

      with
        a
        copy to the Company’s General Counsel, at the above address, and,

      

      if
        to the
        Employee, to:

      

      Kirby
        G.
        Pickle

      at
        his
        last residence address on file with the Company

      

      with
        a
        copy to:

      

      Shaw
        Pittman LLP

      1650
        Tysons Boulevard

      McLean,
        Virginia 22102

      Attention:
        Lawrence T. Yanowitch, Esq.

      Facsimile:
         703-770-7901

      Telephone:
         703-770-7900

      

      

      or
        to
        such other address as either party may specify by notice to the other party
        given as aforesaid. Such notices shall be deemed to be effective five (5)
        business days after the same shall have been deposited, postage prepaid,
        in the
        U.S. mail, upon personal delivery, if the same shall have been delivered
        by
        hand, one (1) business day after deposit with such overnight courier, if
        sent
        via priority overnight delivery, or upon receipt of electronic facsimile
        confirmation, as the case may be. As used herein, a “business
        day”
        shall
        mean any weekday other than a federal U.S. holiday.

       

      (c) Headings.
        All
        headings contained in this Amendment are for reference purposes only and
        shall
        not in any way effect the meaning or interpretation of any provision or
        provisions of this Amendment or the Agreement. 

       

      (d) Counterparts.
        This
        Amendment may be executed in counterparts, each of which shall be deemed
        to be
        an original but all of which together will constitute one and the same
        instrument.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the
        parties have executed this Amendment as of the date first set forth
        above.

       

      
        	 	 	 
	 	DSL.NET,
                INC.:
	 
 	 
 	 
 
	 	By:  	/s/ Walter Keisch 
	 	
                
Name:
Walter
                Keisch
	 	Title:
                Chief Financial Officer &
                Treasurer

      

      
        
          	 	 	 
	 	EMPLOYEE:
	 
 	 
 	 
 
	 	By:  	/s/ Kirby G. Pickle 
	 	
                  

                  Name:
                    Kirby G. Pickle

                
	 	 

        

       

      
        
          
          

        

        
          4Exhibit 10.1 Advisory Services Agreement CRESA Capital Mkts

     

    Exhibit
      10.1

     

     

    ADVISORY
      SERVICES AGREEMENT

     

    This
      ADVISORY SERVICES AGREEMENT (this “Agreement”) is made and entered into
      effective September 1, 2005 by and between Fairways Equities, LLC (“Fairways” or
      the “Advisor”) a Texas LLC and CRESA Capital Markets Group, LP (the “Company”),
      and Ascendant Solutions, Inc. (“Ascendant”), to be effective upon the (the
“Effective Date”) even date herewith. 

    Recitals

    

    
      	A.  	
              The
                Company desires to avail itself of the experience, sources of information,
                advice, assistance, and certain facilities and/or personnel of, or
                available to, Fairways.

            

    

    

    
      	B.  	
              Fairways
                is willing to make available to the Company such experience, sources
                of
                information, advice, assistance, and certain
                facilities.

            

    

    

    NOW,
      THEREFORE, in consideration of the premises and the covenants contained herein,
      the parties hereto agree as follows:

    

    
      	1.  	
              Advisory
                Services.
                Upon request of the Company, Fairways hereby agrees to render, through
                one
                or more of its employees, affiliates, directors or contractors, advisory
                services to the Company concerning financial, accounting, corporate
                development, marketing, acquisition, strategic planning and general
                managerial matters of the Company or its affiliates, as well as investment
                banking and similar services contemplated under the Co-marketing
                and
                Licensing Agreement dated 10/23/2002 between Company and CRESA Partners,
                including by the way of example and not in limitation of the generality
                of
                the foregoing, (a) assistance and advice with respect to planning,
                analyzing and forecasting long-term financial outlook and needs,
                (b)
                assistance and advice with respect to locating, arranging, negotiating,
                analyzing, and obtaining debt and equity resources, (c) assistance
                and
                advice regarding all types of contracts proposed to be entered into,
                (e)
                assistance and advice with respect to formulating and implementing
                sales,
                marketing, advertising, and promotional programs, (f) assistance
                and
                advice with respect to locating, negotiating, analyzing, and closing
                capital markets advisory services transactions and (g) the rendering
                of
                general management consultation and business advice (collectively,
                the
                “Advisory Services”) and the Company agrees to utilize the Advisory
                Services of Fairways on the terms and conditions contained herein.
                Fairways shall have the sole discretion and flexibility to choose
                which of
                its employees will render Advisory Services and when, subject to
                any
                reasonable request of the Company, such Advisory Services will be
                rendered.

            

    

    

    
      	2.  	
              Term
                of Agreement.
                This Agreement shall commence on the Effective Date and shall
                automatically terminate upon the parties hereto mutual agreement
                in
                writing to terminate this
                Agreement.

            

    

    Upon
      termination of this Agreement, any obligations of the Company or Fairways
      hereunder shall cease, except for any obligations of the Company to pay to
      Fairways any accrued but unpaid compensation payable under this
      Agreement.

    

    
      	3.  	
              Compensation.
                As compensation for all of the Advisory Services of Fairways rendered
                hereunder, the Company shall, beginning September 1, 2005, pay to
                Fairways
                a management fee of 25% of net revenues (defined as gross revenues
                less
                any revenue sharing fees). This fee shall be paid within 10 days
                of
                collection of the gross fee by Company. The Company shall review
                such fee
                annually on or prior to the anniversary of this Agreement for
                consideration of reasonable adjustments, which adjustments shall
                not be
                unreasonably withheld.

            

    

    

    
      	 	
              The
                Company shall also pay 40% of net revenues to Fairways as compensation
                to
                the principals working on the transaction that generated the revenue.
                Fairways shall be responsible for allocation of this amount for
                individuals.

            

    

    Notwithstanding
      the preceding two paragraphs, the Company shall repay all outstanding advances
      from affiliates prior to the payment of any management fees or other
      compensation fees to Fairways.

    
      
        
        

      

      
        -32-

        
          

        

      

      
        
        

      

    

    

    
      	4.  	
              Obligations
                Assumed by Fairways.
                In
                providing the Advisory Services contemplated herein, Fairways agrees
                that
                it will assume the obligation of all overhead expenses of the Company
                in
                exchange for the compensation outlined in #3 above, including but
                not
                limited to, (a) payroll and related employee benefit costs (b) marketing
                (c) travel and entertainment (d) rent and occupancy related costs
                (e)
                computer costs and (f) other costs necessary to execute the Company’s
                business. 

            

    

    

    
      	5.  	
              Notices.
                All notices, requests, demands and other communications hereunder
                shall be
                in writing and shall be sent by registered or certified mail, postage
                prepaid, overnight courier or by facsimile as
                follows:

            

    

    

    
      	a.  	
              If
                to the Company, to:

            

    

    CRESA
      Capital Markets Group, LP

    16250
      Dallas Parkway, Suite 101

    Dallas,
      Texas 75248

    Attn:
      Cathy Sweeney

    Facsimile
      Number: 972-250-1734

    Telephone
      Number: 972-250-1645

    

    
      	b.  	
              If
                to Fairways Equities, LLC, to:

            

    

    Jim
      Leslie

    Fairways
      Equities LLC

    16250
      Dallas Parkway, Suite 101

    Dallas,
      TX 75248

    Facsimile
      Number: 972-250-1734

    Telephone
      Number: 972-250-1618

    

    
      	c.  	
              If
                to Ascendant:

            

    

    David
      Bowe

    Ascendant
      Solutions, Inc.

    16250
      Dallas Parkway, Suite 205

    Dallas,
      Texas 75248

    Facsimile
      Number: 972-250-0934

    Telephone
      Number: 972-250-0945

    

    Any
      party
      may change its address for receiving notice by written notice given to the
      others named above.

    

    
      	6.  	
              Other
                Business Activities.
                The Company understands that Fairways will perform for other entities
                advisory services similar to the Advisory Services performed hereunder.
                Nothing in this Agreement shall restrict or limit the right of Fairways,
                the Company, or their respective affiliates or associates to engage
                in
                whatever activities they choose, provided that such activities are
                not
                competitive with matters covered by this Agreement, and none of them
                shall, as a result of this Agreement, incur any obligation to offer
                any
                interest in such activities to any party
                hereto.

            

    

    

    
      	7.  	
              Binding
                Effect.
                This Agreement shall be binding upon Fairways and the Company and
                their
                respective successors, assigns, and
                representatives.

            

    

    

    
      	8.  	
              Assignment.
                Neither this Agreement nor the rights and obligations hereunder may
                be
                assigned by operation of law or otherwise without the express consent
                of
                the other party (which consent may be granted or withheld in the
                sole and
                absolute discretion of such other
                party).

            

    

    

    
      	9.  	
              Governing
                Law.
                This Agreement will be governed by, and construed in accordance with,
                the
                laws of the State of Texas applicable to contracts executed in and
                to be
                performed entirely within that state. Any action or proceeding under
                or in
                connection with this Agreement shall be brought in any state or federal
                court in Dallas County, Texas. The Company hereby irrevocably (i)
                submits
                to the exclusive jurisdiction of such courts, and (ii) waives any
                objection it may now or hereafter have as to the venue of any such
                action
                or proceeding brought in such court or that such court is an inconvenient
                forum.

            

    

    
      
        
        

      

      
        -33-

        
          

        

      

      
        
        

      

    

    

    

    
      	10.  	
              Severability.
                In any term or other provision of this Agreement is invalid, illegal
                or
                incapable of being enforced under any law or public policy, all other
                terms and provisions of this Agreement will nevertheless remain in
                full
                force and effect. Upon such determination that any term or other
                provision
                is invalid, illegal or incapable of being enforced, the parties hereto
                will negotiate in good faith to modify this Agreement so as to effect
                the
                original intent of the parties as closely as possible in an acceptable
                manner.

            

    

    

    
      	11.  	
              Counterparts.
                This Agreement may be executed in a number of identical counterparts,
                each
                of which, for all purposes, is to be deemed an original, and all
                of which
                constitute, collectively, one agreement; but in making proof of this
                Agreement, it shall not be necessary to produce or account for more
                than
                one such counterpart.

            

    

    

    
      	12.  	
              Amendment.
                Neither this Agreement nor the rights and obligations hereunder may
                be
                assigned by operation of law or otherwise without the express written
                consent of the nonassigning party (which consent may be granted or
                withheld in the sole and absolute discretion of such
                party).

            

    

    

    
      	13.  	
              Entire
                Agreement.
                This Agreement and any other agreements delivered pursuant hereto
                or
                thereto constitute the entire understanding among the parties hereto
                with
                respect to the subject matter hereof and supersede all other agreements
                and understandings among the parties, both written and
                oral.

            

    

    

    
      	14.  	
              Headings.
                The various titles or the paragraphs, captions, headings, and arrangements
                herein are used solely for convenience, shall not be used for interpreting
                or construing any word, clause, paragraph, or subparagraph of this
                Agreement, and do not in any way affect, limit, amplify, or modify
                the
                terms hereof.

            

    

    

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

     

    

     

    

      
        	 	 	
                Fairways
                  Equities, LLC

              
	 	
                By:

              	
                /s/
                  Jim Leslie

              
	 	 	
                Jim
                  Leslie

              
	 	 	 
	 	 	
                CRESA
                  Capital Markets Group, LP

              
	 	
                By:

              	
                /s/
                  Cathy Sweeney

              
	 	 	
                Cathy
                  Sweeney

              
	 	 	 
	 	 	
                Ascendant
                  Solutions, Inc.

              
	 	
                By:

              	
                /s/
                  David E. Bowe

              
	 	 	
                David
                  E. Bowe

              

      

    

     

    

     

     

     

     

     

     

     

     

    -34-

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