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    EXECUTIVE
      EMPLOYMENT AGREEMENT

     

    THIS
      EXECUTIVE EMPLOYMENT AGREEMENT
      (the
“Agreement”), dated and effective as of the 23rd day of March, 2007, is entered
      by and between Halcyon
      Jets, Inc.,
      a
      Nevada corporation (the “Company”), located at 336 West 37th Street, Eighth
      Floor, New York, New York 10018 and Christian
      Matteis
      (the
“Executive”) having an address at 4225 NW 24th Terrace, Boca Raton, Florida
      33431. The Company and the Executive may hereinafter be referred to individually
      as a “Party” or collectively as the “Parties”.

     

    WITNESSETH:

     

    WHEREAS,
      the
      Company desires to procure the services of the Executive as its President and
      Chief Operating Officer, and the Executive desires to provide such services
      to
      the Company, all upon the terms and conditions hereinafter set
      forth.

     

    NOW,
      THEREFORE,
      in
      consideration of the mutual promises contained herein, and for other good and
      valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, and intending to be legally bound hereby, the Company and the
      Executive agree as follows:

     

    1. Employment.
      The
      Company agrees to employ the Executive as the President and Chief Operating
      Officer of the Company, and the Executive accepts the employment, on the terms
      and conditions hereafter set forth. The Executive will perform his duties
      hereunder at the Company’s Florida office which, at present, is anticipated to
      be located at 925 South Federal Highway, Suite 2000, Boca Raton, Florida 33432.
      During the Employment Term and any Renewal Terms, as those terms are hereinafter
      defined, the Executive shall devote his best efforts, knowledge and skill,
      and
      his full business time and efforts to the Company’s business and affairs. The
      Executive will have the rights, duties and obligations customarily associated
      with the position of president of a comparably sized company and will report
      directly to the Chief Executive Officer of the Company.

     

    2. Term
      of Employment; Renewals; Termination.

     

    2.1 Term.
      The
      employment hereunder shall commence on the date hereof (the “Commencement
      Date”), and shall continue until the end of the Employment Term, unless sooner
      terminated pursuant to the terms of this Agreement. The “Employment Term” shall
      mean the period commencing on the Commencement Date and continuing until the
      third (3rd) anniversary of the Commencement Date.

     

    2.2 Automatic
      Renewals upon Expiration of Employment Term.
      Following the expiration of the Employment Term, this Agreement shall
      automatically renew for terms of one (1) year (each, a “Renewal Term”) unless
      either the Company or the Executive provides to the other not less than thirty
      (30) days notice of non-renewal prior to the expiration of the Employment Term
      or any Renewal Term. In the event of such an automatic renewal, the terms and
      conditions of this Agreement shall continue to apply to each such Renewal
      Term.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    2.3 Termination
      For Cause.
      The
      employment of Executive may be terminated by the Company at any time for Cause.
      For purposes of this Agreement, “Cause” is defined as (i) the occurrence of a
      breach of any material covenant contained in this Agreement by the Executive
      and
      the failure to cure such breach after thirty (30) days prior written notice
      to
      Executive specifying the basis of such breach; or (ii) Executive’s willful
      malfeasance, gross negligence or gross or willful misconduct in the performance
      of his duties hereunder after thirty (30) days prior written notice to the
      Executive specifying the basis of such neglect and the failure of the Executive
      to correct such neglect; or (iii) the Executive’s theft or embezzlement from the
      Company, or (iv) the Executive’s conviction of a felony under the laws of the
      United States or any state of the United States; or (v) a final order by the
      Securities and Exchange Commission pertaining to the Executive that could
      reasonably be expected to impair or impede the Executive from performing the
      functions and duties contemplated by this Agreement. To be effective the
      determination of Cause for termination of Executive’s employment hereunder must
      be made by a majority of the Board of Directors after notice to Executive and
      an
      opportunity for Executive to be heard by the Board of Directors.

     

    2.4 Termination
      upon Death or Disability.
      This
      Agreement shall automatically terminate in the event of the Executive’s death or
      Permanent Disability. “Permanent Disability” is defined as physical or mental
      incapacity resulting in the absence from or inability to properly perform his
      duties hereunder (as determined by the Company) on a full time basis of the
      Executive for one hundred, eighty (180) consecutive days, provided the Executive
      has met the requirements to receive benefits under any long term disability
      policy then maintained by the Company and applicable to the Executive. Returns
      to work for periods of less than one (1) week shall not toll the passing of
      the
      time required to establish Permanent Disability hereunder. In the event of
      termination due to death or Permanent Disability, the Company shall continue
      to
      pay the Executive or his designated beneficiary (as applicable) Executive’s Base
      Salary (defined below) for twelve (12) months and continue to provide health
      Insurance at the Company’s expense for the Executive (if applicable) and his
      family (provided an appropriate COBRA election is made) for twelve (12) months
      following such termination and the Company shall provide Executive or his
      designated beneficiary (if applicable) any options and shares due him pursuant
      to Sections 3.6 and 3.8, but the Executive shall be entitled to no other
      compensation or benefits.

     

    2.5 Compensation
      upon Termination for Cause or A Resignation Without Good
      Reason.
      In the
      event that the Executive’s employment is terminated for Cause pursuant to the
      terms of Section 2.3, the Company shall only be obligated to pay the Executive,
      or his legal representatives, as the case may be, any unpaid portion of his
      Base
      Salary at the rate herein provided, which would have been earned had the
      Executive remained in the employment of the Company until the effective date
      of
      such termination,. If the Executive voluntarily terminates his employment with
      the Company other than for Good Reason, then the Executive will not be entitled
      to receive any compensation after the Effective Date of the termination.
      Nevertheless, in the event of a Termination for Cause or termination by the
      Executive without Good Reason, Base Salary will be paid to the Executive through
      the date of such termination of employment, all prior benefits, vested shares
      and vested options given to Executive may be retained by the Executive (and
      exercised in the time provided originally), and Executive will be entitled
      to
      exercise his COBRA rights to continue benefits covered by COBRA.

     

    
      
         

      

      
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    2.6 Compensation
      Upon Termination Without Cause or A Resignation For Good
      Reason.
      In the
      event the Executive’s employment is terminated by the Company without Cause or
      the Executive resigns for Good Reason (as defined in Section 2.7), then the
      Company shall continue to pay Executive his Base Salary and Annual Bonuses
      (defined below), for the greater of the remaining period of the initial
      Employment Term or for twelve (12) months following such termination, in
      accordance with the Company’s then-current payroll practices. Executive shall be
      permitted to retain (and exercise) any shares and options provided him under
      this Agreement (the “Equity Interests” as defined in Section 3.6), and Executive
      shall be provided health insurance at the Company’s expense for the same period
      (provided he makes an appropriate COBRA election). The payment of the Base
      Salary and Annual Bonuses due hereunder shall be paid in accordance with the
      Company’s payroll practices, but the amount due hereunder shall be paid in full
      to the Executive within 12 months of termination. As to the shares and options
      issued to or due Executive hereunder, Executive shall continue to be able to
      exercise the options and transfer the shares pursuant to the original terms
      governing the grant or issuance of the shares and options. Upon a termination
      of
      Executive’s employment without Cause or a Resignation for Good Reason, in order
      to receive the compensation and benefits provided by this Section 2.6, the
      Executive shall sign and deliver to the Company (for the benefit of the Company
      and its officers and directors) a release whereby he releases the Company as
      well as its officers and directors from any and all claims he could assert
      under
      this Agreement or relating to his employment with the Company except for any
      claims to: (a) his Base Salary, Annual Bonuses and Equity Interests due pursuant
      to this Section 2.6; (b) any COBRA rights; (c) any other vested benefits; and
      (d) any claims against the Company, its officers and directors for any
      intentional tort or arising from any transaction or occurrence which is not
      related to Executive’s employment with the Company.

     

    2.7 Executive’s
      Resignation for Good Reason.“Good
      Reason,” as used In this Agreement, shall mean the resignation of Executive from
      employment by the Company after any of the following events:

     

    (a) a
      reduction in his Base Salary, Annual Bonus or benefits;

     

    (b) a
      diminution of his duties, responsibilities or reporting responsibility as
      President and Chief Operating Officer of the Company;

     

    (c) a
      breach
      by the Company of any provision of this Agreement, provided that the Executive
      must first give the Company written notice of the breach and 30 days to cure
      the
      breach; or

     

    (d) a
      requirement that Executive spend more than 50% of his business hours at a
      location other than Executive’s principal office set forth in Section
      1.

     

    2.8 Any
      payments of Base Salary, Annual Bonuses, Equity Interests and other benefits
      due
      to Executive or his designated beneficiary (as applicable) pursuant to Sections
      2.4, 2.5 or 2.6 shall not be subject to offset for any income or benefits
      Executive receives or could receive from any other employer or any other
      individual or entity after the termination of employment with the
      Company.

     

    
      
         

      

      
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    3. Compensation.

     

    3.1 Base
      Salary.
      As
      compensation for the services to be rendered by the Executive hereunder, the
      Company shall pay the Executive an annual base salary (the “Base Salary) as
      follows; (i) Year One (i.e.,
      from
      the Commencement Date until the first Anniversary Date): Five Hundred Thousand
      Dollars ($500,000); (ii) Year Two: Five Hundred Twenty Five Thousand Dollars
      ($525,000); and (iii) Year Three: Five Hundred Fifty Thousand Dollars ($550,000)
      paid bi-weekly, subject to all applicable employment and withholding taxes.
      The
      salary for any Renewal Term shall be agreed upon by the Parties but shall not
      be
      less than Five Hundred Fifty Thousand Dollars ($550,000).

     

    3.2 Intentionally
      Omitted.

     

    3.3 Benefits.
      The
      Executive shall be eligible to participate in the Company’s health insurance
      plan with individual and family coverage at the Company’s expense, subject to
      the terms of that plan, on the same basis as the Company’s other senior
      executives. The Executive shall be entitled to participate in the Company’s
      profit sharing and 401(k) plans consistent with that provided to other
      executives of the Company.

     

    3.4 Vacation.
      The
      Executive shall be entitled to four (4) weeks paid vacation time per year,
      which
      shall increase at the rate of one (1) week per year annually, up to a maximum
      of
      six (6) weeks per year. Accumulated but unused vacation time may be carried
      over
      from year to year.

     

    3.5 Expenses.
      The
      Company shall issue the Executive an American Express and any other appropriate
      corporate credit card to be used by the Executive for all reasonable expenses
      incurred in the performance of his duties. The Company will provide Executive
      with the corporate credit cards as soon as possible. In the interim, the Company
      shall reimburse the Executive for all reasonable expenses actually incurred
      or
      paid by the Executive within thirty (30) days following the Executive’s
      submission of appropriate expense statements.

     

    3.6 Stock
      Options.
      The
      Company will grant to the Executive 1,000,000 shares of the Company’s Founders
      or common stock, with his right to such shares to vest as follows: 500,000
      shares shall vest on May 3, 2007 and the remaining 500,000 shares shall vest
      in
      quarterly installments of 166,666 shares on July 1, 2007, October 1, 2007 and
      December 31, 2007. These shares shall not be registered under the Securities
      Act
      of 1933, as amended, and therefore may not be sold or otherwise transferred
      except pursuant to an effective registration statement or if an exemption from
      registration applies. The Company is in the process of finalizing an Option
      Plan
      which shall be implemented shortly. The Company agrees to provide Executive
      with
      options pursuant to the Option Plan at the same time, in the same amount and
      on
      the same terms as are provided to the Chief Executive Officer. The shares and
      options provided herein are referred to collectively as “The Equity
      Interests.”

     

    3.7 Equity
      Based Compensation.
      The
      Executive shall be entitled to participate in each equity based or other
      discretionary compensation plan, such as a stock option, stock bonus or stock
      appreciation rights plan, in which the Company’s Chief Executive Officer
      participates in the event that the Company adopts any such plan(s).

     

    
      
         

      

      
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    3.8 In
      the
      event of the Executive’s death or disability, all compensation earned to date,
      as well as all shares, options or other benefits provided Executive in Sections
      3.1 to 3.7 hereof shall immediately vest and be paid to Executive or Executive’s
      designated beneficiary (as applicable) within the time provided
      herein.

     

    4. Confidentiality;
      No Conflict; No Competition.

     

    4.1 Confidential
      Information.

     

    4.1.1 “Confidential
      Information,” as defined below, includes not only information disclosed by the
      Company to the Executive, but also information developed or learned by the
      Executive during the course of or as a result of employment by the Company
      which
      information shall be the property of the Company. Confidential Information
      includes all information that has or could have commercial value or other
      utility in the business in which the Company is engaged or contemplates
      engaging, and all information of which the unauthorized disclosure could be
      detrimental to the interests of the Company, whether or not such information
      is
      specifically labeled as Confidential Information by the Company. By way of
      example and without limitation, the Confidential Information of the Company
      includes confidential methods of operation and organization. Notwithstanding
      the
      foregoing, the term “Confidential Information” does not include, and Executive
      shall not be restricted during or after his employment with the Company from
      using any information, even if otherwise designated as “Confidential
      Information”: (i) which Executive learned of other than in the course of his
      employment with the Company; (ii) which is obtainable from sources outside
      of
      the Company, without breaching any contractual or other obligations; or (iii)
      which otherwise exists in the public domain.

     

    4.1.2 
      The
      Executive shall not, either during his employment by the Company or at any
      time
      after termination of such employment, for whatever reason, impart or disclose
      any Confidential Information as defined and limited by Section 4.1.1 to any
      person, firm or entity other than the Company, or use any of such Confidential
      Information, directly or indirectly, for his own benefit or for the benefit
      of
      any person, firm or entity other than the Company. The Executive hereby
      acknowledges that the items included within the definition of Confidential
      Information in Section 4.1.1 are valuable assets of the Company and that the
      Company has a legitimate business interest in protecting such Confidential
      Information.

     

    4.2 No
      Conflict; No Other Employment.
      During
      the term of this Agreement, the Executive shall not: (i) engage in any activity
      which conflicts with the performance of the Executive’s duties hereunder nor
      shall the Executive engage in any other business activity, whether or not such
      business activity is pursued for gain or profit, except as approved in advance
      in writing by the Chief Executive Officer of the Company, which approval shall
      not be unreasonably withheld; or (ii) engage in any other employment, whether
      as
      an executive or consultant or in any other capacity, and whether or not
      compensated for his services, except as approved in advance in writing by the
      Chief Executive Officer of the Company, which approval shall not be unreasonably
      withheld.

     

    
      
         

      

      
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    4.3 No
      Solicitations.
      During
      the Employment Term and for a period of twelve (12) months following the
      termination of the Executive’s employment with the Company as provided herein,
      the Executive shall not (A) directly or indirectly, either as principal,
      manager, agent, consultant, officer, stockholder, partner, investor, lender
      or
      employee or in any other capacity, carry on, be engaged in or have any financial
      interest in any business which is in competition with the business of the
      Company or (B) solicit, directly or indirectly, for hiring or hire or in any
      other manner, solicit or retain the services of, for Executive’s account or the
      account of any of Executive’s employers, (i) any person who is at such time, or
      has been within one (1) year of such time, an executive of the Company and
      its
      affiliates or (ii) any consultant or employee who is at such time, or has been
      within one (1) year of such time, under contract with the Company unless that
      employee or consultant was under contract with the Executive’s new employer
      prior to such employer retaining or hiring the Executive. For purposes of this
      Section 4.3, a business shall be deemed to be “in competition with the business
      of the Company” if it is involved in the purchase, sale, lease, management of or
      other dealing in any property or the rendering of any service purchased, sold,
      leased, managed, dealt in or rendered by the Company. The restraints in this
      Section 4.3 shall not apply in the event that the Company does not renew the
      Agreement, the Executive’s employment is terminated without Cause or the
      Executive resigns for Good Reason.

     

    4.4 Protection
      of Reputation.
      During
      the term of this Agreement and thereafter, the Executive and the Company each
      agree that neither will take any action which is intended, or would reasonable
      be expected, to harm the other’s reputation or which would reasonably be
      expected to lead to unwanted or unfavorable publicity.

     

    4.5 Company
      Property.
      The
      Executive agrees that all copies, whether on paper or a computer storage device,
      of all memoranda, notes, records, charts, formulae, specifications, lists and
      other documents made, compiled or received, held, or used, by the Executive
      while employed by the Company concerning any phase of the Company’s business,
      trade secrets or Confidential Information shall be the Company’s property and
      shall be delivered by the Executive to the Company on the termination of the
      Executive’s employment or at an earlier time on the request of the Company. The
      Company acknowledges and agrees that there may be memoranda, notes, records,
      charts, formulae, specifications, lists and other documents made, compiled
      or
      received, held, or used by the Executive prior to employment by the Company
      and
      that, at Executive’s request, copies of same shall be delivered by the Company
      to the Executive on termination of the Executive’s employment or at an earlier
      time on the request of the Executive. The Executive further covenants and agrees
      that he shall promptly disclose to the Company, and take all steps necessary
      to
      transfer to the Company all right, title and interest in, all products developed
      or other inventions, computer software and other intellectual property (the
      “Intellectual Property”) which he conceives or develops during the course of his
      employment, which are in any way related to the business of the Company, if
      applicable, will affix appropriate legends and copyright notices indicating
      the
      Company’s ownership of all Intellectual Property and all underlying
      documentation, and will execute such further assignments and other documents
      as
      the Company considers necessary to vest, perfect, patent, maintain or defend
      the
      Company’s right, title and interest in the Intellectual Property.

     

    4.6 Injunctive
      Relief.
      The
      Executive further recognizes and agrees that any material violation of his
      agreements In this Section 4 would cause such damage or injury to the Company
      as
      would be irreparable the exact amount of damage would be impossible to
      ascertain; therefore, the Executive agrees that notwithstanding anything to
      the
      contrary contained in this Agreement, the Company shall be entitled to seek
      injunctive relief from any court of competent jurisdiction restraining any
      further violation by the Executive of this Section 4. Such right to seek an
      injunction shall be cumulative and in addition to, and not in limitation of,
      any
      other rights and remedies by the Company may have in equity or at
      law.

     

    
      
         

      

      
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    4.7 Reasonableness.
      The
      Executive agrees that the provisions of this Section 4 are reasonable and
      necessary for the protection of the Company and that each provision herein
      set
      forth, Including without limitation, the period of time, geographical area
      and
      types and scope of the restrictions on his activities specified therein, are
      intended to be and shall be divisible. If any provision of this Section 4
      (including any sentence, clause or part thereof) shall be held contrary to
      law
      or invalid or unenforceable in any respect, the remaining provisions shall
      not
      be affected but shall remain in full force and effect and the invalid or
      unenforceable provisions shall be deemed modified and amended to the extent
      necessary to render same valid and enforceable.

     

    5. Successors.
      This
      Agreement shall be binding upon and inure to the benefit of the Company and
      its
      respective successors and assigns by merger, consolidation, transfer of business
      and properties or otherwise, and shall inure to the benefit of the Executive
      and
      his heirs and legal representatives, provided, however, that the Executive
      may
      not assign his rights or obligations under this Agreement without the prior
      written consent of the Company.

     

    6. Successors.

     

    6.1 Notices.
      All
      notices and other communications to be made hereunder shall be in writing and
      shall be deemed to have been given when the same are either. (i) personally
      delivered; (ii) mailed, registered or certified mail, first class postage
      prepaid return receipt requested; or (iii) delivered by a reputable private
      overnight courier service utilizing a written receipt or other written proof
      of
      delivery, to the applicable party at the address set forth above. Any party
      refusing delivery of a notice shall be charged with knowledge of its
      contents.

     

    6.2 Definitions
      and Captions.
      All
      captions and headings of paragraphs, subparagraphs and sections are not part
      of
      this Agreement and shall not be used for the interpretation or determination
      of
      the validity of this Agreement or any provision hereon.

     

    6.3 Names
      and Entities.
      The
      masculine gender shall include the neuter genders, and the word “person” shall
      include an individual, a corporation, a partnership, a limited partnership,
      a
      limited liability partnership, a limited liability company and a trust. Whenever
      the singular is used in this Agreement the same shall include the plural when
      required by the context and vice versa.

     

    6.4 Severability.
      In the
      event any one or more of the provisions of this Agreement shall be held to
      be
      invalid, illegal or unenforceable in any respect, such invalidity, illegality
      or
      unenforceability shall not affect other provisions hereof, and this Agreement
      shall be construed as if such invalid, illegal or unenforceable provision never
      had been contained herein.

     

    6.5 Governing
      Law and Forum Selection.
      This
      Agreement shall be construed in accordance with the laws of the State of New
      York, exclusive of any choice of law principles. In the event any dispute arises
      between the parties relative to this Agreement, then the dispute shall be
      litigated in any federal or state court of competent jurisdiction in the State
      of New York. The prevailing party in such litigation, in addition to any other
      remedies at law, in equity or otherwise, shall be entitled to an award of their
      reasonable attorneys’ fees, expenses (including reasonable expert fees) and
      costs (including transcript court reporting fees).

     

    
      
         

      

      
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    6.6 Entire
      Agreement; Amendments.
      This
      Agreement contains the entire understanding and agreement of the parties hereto
      with respect to the matters contained herein, and may not be amended or
      supplemented at any time unless by writing, executed by each of the said
      parties. Any agreement or understanding, written or otherwise, prior to the
      effective date of this Agreement between the Executive and the Company relating
      to the employment of the Executive is hereby terminated and
      discharged.

     

    6.7 Indemnification.
      The
      Company shall indemnify the Executive against all losses (including all
      settlements or judgments), claims, expenses, or other liabilities of any nature
      arising by reason of the fact that he (a) is or was an officer, employee, or
      agent of the Company or any of its subsidiaries or affiliates, or (b) while
      a
      director, officer, employee or agent of the Company, the Company or any of
      their
      subsidiaries or affiliates, is or was serving at the request of the Employer
      as
      a director, officer, partner, venturer, proprietor, trustee, employee, agent
      or
      similar functionary of another corporation, partnership, joint venture, trust,
      employee benefit plan or other entity, or (c) guaranteed any obligation of
      the
      Company or any of its subsidiaries or affiliates, or (d) allegedly is in
      violation of any agreement with his former employer, Blue Star, by virtue of
      his
      employment by the Company, in each case to the fullest extent permitted under
      Nevada law. Without limiting the foregoing, the Executive shall be entitled
      to
      payment of all reasonable costs and expenses including attorneys’ fees incurred
      in the defense of any action or proceeding arising out of his employment and
      any
      settlement or judgment, subject to the provisions of the Nevada General
      Corporation Law. The Executive shall be entitled to counsel selected by the
      Company subject to the Executive’s consent, not to be unreasonably withheld. The
      Company shall pay any counsel so retained for Executive for all such fees and
      costs incurred on the terms negotiated with such counsel. The Company shall
      pay
      any settlement or judgment involving or entered against Executive within the
      time provided by any Settlement Agreement or by the Court in which any judgment
      is entered.

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Agreement or caused their duly authorized
      officers to execute this Agreement on date set forth above.

     

    
      	 	
              HALCYON
                JETS, INC.

            	 
	 	 	 	 
	 	 	 	 
	 	
              By:

            	
               /s/
                Jonathan Gilbert

            	 
	 	 	
              Jonathan
                Gilbert

            	 
	
               

            	 	
              Chief
                Executive Officer

            	 
	 	 	 
	 	 	 
	 	
              EXECUTIVE

            	 
	 	 	 
	 	 	 
	 	
              /s/
                Christian Matteis

            	 
	
               

            	
              Christian
                Matteis

            	 

    

    

     

    
      
         

      

      
        8EXECUTIVE
      EMPLOYMENT AGREEMENT

     

    THIS
      EXECUTIVE EMPLOYMENT AGREEMENT
      (the
“Agreement”), dated and effective as of the 1 day of April, 2007, is entered by
      and between Halcyon
      Jets, Inc.,
      a
      Nevada corporation (the “Company”), located at 336 West 37th
      Street,
      Eighth Floor, New York, New York 10018 and Jonathan R. Gilbert (the “Executive”)
      having an address at 36 Sycamore Lane Roslyn Heights, NY 11577. The Company
      and
      the Executive may hereinafter be referred to individually as a “Party” or
      collectively as the “Parties”.

     

    W
      I T N E S S E T H:

     

    WHEREAS,
      the
      Company desires to procure the services of the Executive as its Chief Executive
      Officer, and the Executive desires to provide such services to the Company,
      all
      upon the terms and conditions hereinafter set forth.

     

    NOW,
      THEREFORE,
      in
      consideration of the mutual promises contained herein, and for other good and
      valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, and intending to be legally bound hereby, the Company and the
      Executive agree as follows:

     

    1.  Employment

     

      The
      Company agrees to employ the Executive as the Chief Executive Officer of the
      Company, and the Executive accepts the employment, on the terms and conditions
      hereafter set forth. The Executive will perform his duties hereunder at the
      Company’s New York City office. During the Employment Term and any Renewal
      Terms, as those terms are hereinafter defined, the Executive shall devote his
      best efforts, knowledge and skill, and his full business time and efforts to
      the
      Company’s business and affairs. The Executive will have the rights, duties and
      obligations customarily associated with the position of chief executive officer
      of a comparably sized company and will report directly to the Board of Directors
      of the Company.

     

    2.  Term
      of Employment; Renewals; Termination.

     

    2.1  Term.
      The
      employment hereunder shall commence on the date hereof (the “Commencement
      Date”), and shall continue until the end of the Employment Term, unless sooner
      terminated pursuant to the terms of this Agreement. The “Employment Term” shall
      mean the period commencing on the Commencement Date and continuing until the
      third (3rd)
      anniversary of the Commencement Date.

     

    2.2  Automatic
      Renewals upon Expiration of Employment Term.
      Following the expiration of the Employment Term, this Agreement shall
      automatically renew for terms of one (1) year (each, a “Renewal Term”) unless
      either the Company or the Executive provides to the other not less than thirty
      (30) days notice of non-renewal prior to the expiration of the Employment Term
      or any Renewal Term. In the event of such an automatic renewal, the terms and
      conditions of this Agreement shall continue to apply to each such Renewal
      Term.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.3  Termination
      For Cause.
      The
      employment of Executive may be terminated by the Company at any time for Cause.
      For purposes of this Agreement, “Cause” is defined as (i) the occurrence of a
      breach of any material covenant contained in this Agreement by the Executive
      and
      the failure to cure such breach after thirty (30) days prior written notice
      to
      Executive specifying the basis of such breach; or (ii) Executive’s willful
      malfeasance, gross negligence or gross or willful misconduct in the performance
      of his duties hereunder after thirty (30) days prior written notice to the
      Executive specifying the basis of such neglect and the failure of the Executive
      to correct such neglect; or (iii) the Executive’s theft or embezzlement from the
      Company, or (iv) the Executive’s conviction of a felony under the laws of the
      United States or any state of the United States; or (v) a final order by the
      Securities and Exchange Commission pertaining to the Executive that could
      reasonably be expected to impair or impede the Executive from performing the
      functions and duties contemplated by this Agreement. To be effective the
      determination of Cause for termination of Executive’s employment hereunder must
      be made by a majority of the Board of Directors after notice to Executive and
      an
      opportunity for Executive to be heard by the Board of Directors.

     

    2.4  Termination
      upon Death or Disability.
      This
      Agreement shall automatically terminate in the event of the Executive’s death or
      Permanent Disability. “Permanent Disability” is defined as physical or mental
      incapacity resulting in the absence from or inability to properly perform his
      duties hereunder (as determined by the Company) on a full time basis of the
      Executive for one hundred, eighty (180) consecutive days, provided the Executive
      has met the requirements to receive benefits under any long term disability
      policy then maintained by the Company and applicable to the Executive. Returns
      to work for periods of less than one (1) week shall not toll the passing of
      the
      time required to establish Permanent Disability hereunder. In the event of
      termination due to death or Permanent Disability, the Company shall continue
      to
      pay the Executive or his designated beneficiary (as applicable) Executive’s Base
      Salary (defined below) for twelve (12) months and continue to provide health
      insurance at the Company’s expense for the Executive (if applicable) and his
      family (provided an appropriate COBRA election is made) for twelve (12) months
      following such termination and the Company shall provide Executive or his
      designated beneficiary (if applicable) any options and shares due him pursuant
      to Sections 3.6 and 3.8, but the Executive shall be entitled to no other
      compensation or benefits.

     

    2.5  Compensation
      upon Termination for Cause or A Resignation Without Good
      Reason.
      In
      the
      event that the Executive’s employment is terminated for Cause pursuant to the
      terms of Section 2.3, the Company shall only be obligated to pay the Executive,
      or his legal representatives, as the case may be, any unpaid portion of his
      Base
      Salary at the rate herein provided, which would have been earned had the
      Executive remained in the employment of the Company until the effective date
      of
      such termination. If the Executive voluntarily terminates his employment with
      the Company other than for Good Reason, then the Executive will not be entitled
      to receive any compensation after the Effective Date of the termination.
      Nevertheless, in the event of a Termination for Cause or termination by the
      Executive without Good Reason, Base Salary will be paid to the Executive through
      the date of such termination of employment, all prior benefits, vested shares
      and vested options given to Executive may be retained by the Executive (and
      exercised in the time provided originally), and Executive will be entitled
      to
      exercise his COBRA rights to continue benefits covered by COBRA.

     

    
      
        
        

      

      
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    2.6  Compensation
      Upon Termination Without Cause or A Resignation For Good
      Reason.
      In the
      event the Executive’s employment is terminated by the Company without Cause or
      the Executive resigns for Good Reason (as defined in Section 2.7), then the
      Company shall continue to pay Executive his Base Salary and Annual Bonus
      (defined below), for the greater of the remaining period of the initial
      Employment Term or for twelve (12) months following such termination, in
      accordance with the Company’s then-current payroll practices. Executive shall be
      permitted to retain (and exercise) any shares and options provided him under
      this Agreement (the “Equity Interests” as defined in Section 3.6), and Executive
      shall be provided health insurance at the Company’s expense for the same period
      (provided he makes an appropriate COBRA election). The payment of the Base
      Salary and Annual Bonus due hereunder shall be paid in accordance with the
      Company’s regular payroll practices following a termination without Cause or a
      resignation with Good Reason. As to the shares and options issued to or due
      Executive hereunder, Executive shall continue to be able to exercise the options
      and transfer the shares pursuant to the original terms governing the grant
      or
      issuance of the shares and options. Upon a termination of Executive’s employment
      without Cause or a Resignation for Good Reason, in order to receive the
      compensation and benefits provided by this Section 2.6, the Executive shall
      sign
      and deliver to the Company (for the benefit of the Company and its officers
      and
      directors) a general release whereby he releases any claim by him, whether
      pursuant to this Agreement or otherwise, except for the payment of his Base
      Salary and Annual Bonus and vesting of Equity Interests provided in this Section
      2.6. 

     

    2.7  Executive’s
      Resignation for Good Reason.
“Good
      Reason,” as used in this Agreement, shall mean the resignation of Executive from
      employment by the Company after any of the following events:

     

    (a) a
      reduction in his Base Salary, Annual Bonus or benefits;

     

    (b) a
      diminution of his duties, responsibilities or reporting responsibility as Chief
      Executive Officer of the Company;

     

    (c) a
      breach
      by the Company of any provision of this Agreement, provided that the Executive
      must first give the Company written notice of the breach and 30 days to cure
      the
      breach; or

     

    (d) a
      requirement that Executive spend more than 50% of his business hours at a
      location other than Executive’s principal office set forth in Section
      1.

     

    2.8 Any
      payments of Base Salary, Annual Bonuses, Equity Interests and other benefits
      due
      to Executive or his designated beneficiary (as applicable) pursuant to Sections
      2.4, 2.5 or 2.6 shall not be subject to offset for any income or benefits
      Executive receives or could receive from any other employer or any other
      individual or entity after the termination of employment with the
      Company.

     

    
      
        
        

      

      
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    3.  Compensation.

     

    3.1  Base
      Salary.
      As
      compensation for the services to be rendered by the Executive hereunder, the
      Company shall pay the Executive an annual base salary (the “Base Salary) of (i)
      Year One (i.e.,
      from
      the Commencement Date until the first Anniversary Date): Two Hundred and Thirty
      Five Thousand Dollars ($235,000); (ii) Year Two: Two Hundred Forty Six Thousand
      Seven Hundred Fifty Dollars ($246,750); and (iii) Year Three: Two Hundred Fifty
      Nine Thousand Dollars ($259,000) paid bi-weekly, subject to all applicable
      employment and withholding taxes. The salary for any Renewal Term shall be
      agreed upon by the Parties but shall not be less than Two Hundred Fifty Nine
      Thousand Dollars ($259,000).

     

    3.2  Benefits.
      The
      Executive shall be eligible to participate in the Company’s health insurance
      plan with individual and family coverage at the Company’s expense, subject to
      the terms of that plan, on the same basis as the Company’s other senior
      executives. The Executive shall be entitled to participate in the Company’s
      profit sharing and 401(k) plans consistent with that provided to other
      executives of the Company. The Executive shall also be entitled to (a) a cell
      phone allowance of $400 per month and (b) an automobile allowance of $800 per
      month plus parking, toll and gas expenses.

     

    3.3  Vacation.
      The
      Executive shall be entitled to four (4) weeks paid vacation time per year,
      which
      shall increase at the rate of one (1) per year annually, up to a maximum of
      six
      (6) weeks per year. Accumulated but unused vacation time may be carried over
      from year to year.

     

    3.4  Expenses.
      The
      Company shall issue the Executive an American Express and any other appropriate
      corporate credit card to be used by the Executive for all reasonable expenses
      incurred in the performance of his duties. The Company will provide Executive
      with the corporate credit cards as soon as possible. In the interim, the Company
      shall reimburse the Executive for all reasonable expenses actually incurred
      or
      paid by the Executive within thirty (30) days following the Executive’s
      submission of appropriate expense statements.

     

    3.5  Stock
      Grant.
      The
      Company will grant to the Executive 1,000,000 shares of the Company’s Founders
      or common stock. These shares shall not be registered under the Securities
      Act
      of 1933, as amended, and therefore may not be sold or otherwise transferred
      except pursuant to an effective registration statement or if an exemption from
      registration applies. The Company is in the process of finalizing an Option
      Plan
      which shall be implemented shortly. The Company agrees to provide Executive
      with
      options pursuant to the Option Plan. The shares and options provided herein
      are
      referred to collectively as “The Equity Interests.”

     

    
      
        
        

      

      
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    3.6  Equity
      Based Compensation.
      The
      Executive shall be entitled to participate in each equity based or other
      discretionary compensation plan, such as a stock option, stock bonus or stock
      appreciation rights plan in the event that the Company adopts any such
      plan(s).

     

    3.7  Vesting.
      In the
      event of the Executive’s death or disability, all compensation earned to date,
      as well as all shares, options or other benefits provided Executive in Sections
      3.1 to 3.7 hereof shall immediately vest and be paid to Executive or Executive’s
      designated beneficiary (as applicable) within the time provided
      herein.

     

    4.  Confidentiality;
      No Conflict; No Competition.

     

    4.1  Confidential
      Information.

     

    4.1.1  “Confidential
      Information,” as defined below, includes not only information disclosed by the
      Company to the Executive, but also information developed or learned by the
      Executive during the course of or as a result of employment by the Company
      which
      information shall be the property of the Company. Confidential Information
      includes all information that has or could have commercial value or other
      utility in the business in which the Company is engaged or contemplates
      engaging, and all information of which the unauthorized disclosure could be
      detrimental to the interests of the Company, whether or not such information
      is
      specifically labeled as Confidential Information by the Company. By way of
      example and without limitation, the Confidential Information of the Company
      includes confidential methods of operation and organization. Notwithstanding
      the
      foregoing, the term “Confidential Information” does not include, and Executive
      shall not be restricted during or after his employment with the Company from
      using any information, even if otherwise designated as “Confidential
      Information”: (i) which Executive learned of other than in the course of his
      employment with the Company; (ii) which is obtainable from sources outside
      of
      the Company, without breaching any contractual or other obligations; or (iii)
      which otherwise exists in the public domain.

     

    4.1.2  The
      Executive shall not, either during his employment by the Company or at any
      time
      after termination of such employment, for whatever reason, impart or disclose
      any Confidential Information as defined and limited by Section 4.1.1 to any
      person, firm or entity other than the Company, or use any of such Confidential
      Information, directly or indirectly, for his own benefit or for the benefit
      of
      any person, firm or entity other than the Company. The Executive hereby
      acknowledges that the items included within the definition of Confidential
      Information in Section 4.1.1 are valuable assets of the Company and that the
      Company has a legitimate business interest in protecting such Confidential
      Information.

     

    4.2  Post-Employment
      Restrictions.
      During
      the Employment Term and for a period of twelve (12) months following the
      termination of the Executive’s employment with the Company as provided herein,
      the Executive shall not (A) directly or indirectly, either as principal,
      manager, agent, consultant, officer, stockholder, partner, investor, lender
      or
      employee or in any other capacity, carry on, be engaged in or have any financial
      interest in, any business which is in competition with the business of the
      Company, or (B) solicit, directly or indirectly, for hiring or hire or in any
      other manner, solicit or retain the services of, for Executive’s account or the
      account of any of Executive’s employers, (i) any person who is at such time, or
      has been within one (1) year of such time, an executive of the Company and
      its
      affiliates or (ii) any consultant or employee who is at such time, or has been
      within one (1) year of such time, under contract with the Company unless that
      employee or consultant was under contract with the Executive’s new employer
      prior to such employer retaining or hiring the Executive. For purposes of this
      Section 4.3, a business shall be deemed to be in competition with the Restricted
      Group if it is involved in the purchase, sale, lease, management of or other
      dealing in any property or the rendering of any service purchased, sold, leased,
      managed, dealt in or rendered by the Company. The restraints in this Section
      4.3
      shall not apply in the event the Executive’s employment is terminated without
      Cause or Executive resigns for Good Reason.

     

    
      
        
        

      

      
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    4.3  Protection
      of Reputation.
      During
      the term of this Agreement and thereafter, the Executive and the Company each
      agree that neither will take any action which is intended, or would reasonable
      be expected, to harm the other’s reputation or which would reasonably be
      expected to lead to unwanted or unfavorable publicity.

     

    4.4  Company
      Property.
      The
      Executive agrees that all copies, whether on paper or a computer storage device,
      of all memoranda, notes, records, charts, formulae, specifications, lists and
      other documents made, compiled or received, held, or used, by the Executive
      while employed by the Company concerning any phase of the Company’s business,
      trade secrets or Confidential Information shall be the Company’s property and
      shall be delivered by the Executive to the Company on the termination of the
      Executive’s employment or at an earlier time on the request of the Company. The
      Company acknowledges and agrees that there may be memoranda, notes, records,
      charts, formulae, specifications, lists and other documents made, compiled
      or
      received, held, or used by the Executive prior to employment by the Company
      and
      that, at Executive’s request, copies of same shall be delivered by the Company
      to the Executive on termination of the Executive’s employment or at an earlier
      time on the request of the Executive. The Executive further covenants and agrees
      that he shall promptly disclose to the Company, and take all steps necessary
      to
      transfer to the Company all right, title and interest in, all products developed
      or other inventions, computer software and other intellectual property (the
      “Intellectual Property”) which he conceives or develops during the course of his
      employment, which are in any way related to the business of the Company, if
      applicable, will affix appropriate legends and copyright notices indicating
      the
      Company’s ownership of all Intellectual Property and all underlying
      documentation, and will execute such further assignments and other documents
      as
      the Company considers necessary to vest, perfect, patent, maintain or defend
      the
      Company’s right, title and interest in the Intellectual Property.

     

    4.5  Injunctive
      Relief.
      The
      Executive further recognizes and agrees that any material violation of his
      agreements in this Section 4 would cause such damage or injury to the Company
      as
      would be irreparable the exact amount of damage would be impossible to
      ascertain; therefore, the Executive agrees that notwithstanding anything to
      the
      contrary contained in this Agreement, the Company shall be entitled to seek
      injunctive relief from any court of competent jurisdiction restraining any
      further violation by the Executive of this Section 4. Such right to seek an
      injunction shall be cumulative and in addition to, and not in limitation of,
      any
      other rights and remedies by the Company may have in equity or at
      law.

     

    
      
        
        

      

      
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    4.6  Reasonableness.
      The
      Executive agrees that the provisions of this Section 4 are reasonable and
      necessary for the protection of the Company and that each provision herein
      set
      forth, including without limitation, the period of time, geographical area
      and
      types and scope of the restrictions on his activities specified therein, are
      intended to be and shall be divisible. If any provision of this Section 4
      (including any sentence, clause or part thereof) shall be held contrary to
      law
      or invalid or unenforceable in any respect, the remaining provisions shall
      not
      be affected but shall remain in full force and effect and the invalid or
      unenforceable provisions shall be deemed modified and amended to the extent
      necessary to render same valid and enforceable.

     

    5.  Successors.
      This
      Agreement shall be binding upon and inure to the benefit of the Company and
      its
      respective successors and assigns by merger, consolidation, transfer of business
      and properties or otherwise, and shall inure to the benefit of the Executive
      and
      his heirs and legal representatives, provided, however, that the Executive
      may
      not assign his rights or obligations under this Agreement without the prior
      written consent of the Company.

     

    6.  Successors.

     

    6.1  Notices.
      All
      notices and other communications to be made hereunder shall be in writing and
      shall be deemed to have been given when the same are either: (i) personally
      delivered; (ii) mailed, registered or certified mail, first class postage
      prepaid return receipt requested; or (iii) delivered by a reputable private
      overnight courier service utilizing a written receipt or other written proof
      of
      delivery, to the applicable party at the address set forth above. Any party
      refusing delivery of a notice shall be charged with knowledge of its
      contents.

     

    6.2  Definitions
      and Captions.
      All
      captions and headings of paragraphs, subparagraphs and sections are not part
      of
      this Agreement and shall not be used for the interpretation or determination
      of
      the validity of this Agreement or any provision hereon.

     

    6.3  Names
      and Entities.
      The
      masculine gender shall include the neuter genders, and the word “person” shall
      include an individual, a corporation, a partnership, a limited partnership,
      a
      limited liability partnership, a limited liability company and a trust. Whenever
      the singular is used in this Agreement the same shall include the plural when
      required by the context and vice versa.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    6.4  Severability.
      In the
      event any one or more of the provisions of this Agreement shall be held to
      be
      invalid, illegal or unenforceable in any respect, such invalidity, illegality
      or
      unenforceability shall not affect other provisions hereof, and this Agreement
      shall be construed as if such invalid, illegal or unenforceable provision never
      had been contained herein.

     

    6.5  Governing
      Law and Forum Selection.
      This
      Agreement shall be construed in accordance with the laws of the State of New
      York, exclusive of any choice of law principles. In the event any dispute arises
      between the parties relative to this Agreement, then the dispute shall be
      litigated in any federal or state court of competent jurisdiction in the State
      of New York. The prevailing party in such litigation, in addition to any other
      remedies at law, in equity or otherwise, shall be entitled to an award of their
      reasonable attorneys’ fees, expenses (Including reasonable expert fees) and
      costs (including transcript court reporting fees).

     

    6.6  Entire
      Agreement; Amendments.
      This
      Agreement contains the entire understanding and agreement of the parties hereto
      with respect to the matters contained herein, and may not be amended or
      supplemented at any time unless by writing, executed by each of the said
      parties. Any agreement or understanding, written or otherwise, prior to the
      effective date of this Agreement between the Executive and the Company relating
      to the employment of the Executive is hereby terminated and discharged.

     

    6.7  Indemnification.
      The
      Company shall indemnify the Executive against all losses (including all
      settlements or judgments), claims, expenses, or other liabilities of any nature
      arising by reason of the fact that he (a) is or was an officer, employee, or
      agent of the Company or any of its subsidiaries or affiliates, or (b) while
      a
      director, officer, employee or agent of the Company, the Company or any of
      their
      subsidiaries or affiliates, is or was serving at the request of the Employer
      as
      a director, officer, partner, venturer, proprietor, trustee, employee, agent
      or
      similar functionary of another corporation, partnership, joint venture, trust,
      employee benefit plan or other entity, or (c) guaranteed any obligation of
      the
      Company or any of its subsidiaries or affiliates by virtue of his employment
      by
      the Company, in each case to the fullest extent permitted under Nevada law.
      Without limiting the foregoing, the Executive shall be entitled to payment
      of
      all reasonable costs and expenses including attorneys’ fees incurred in the
      defense of any action or proceeding arising out of his employment and any
      settlement or judgment, subject to the provisions of the Nevada General
      Corporation Law. The Executive shall be entitled to counsel selected by the
      Company subject to the Executive’s consent, not to be unreasonably withheld. The
      Company shall pay any counsel so retained for Executive for all such fees and
      costs incurred on the terms negotiated with such counsel. The Company shall
      pay
      any settlement or judgment involving or entered against Executive within the
      time provided by any settlement agreement or by the court in which any judgment
      is entered.

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement or caused
      their
      duly authorized officers to execute this Agreement on date set forth
      above.

     

    
      
        
        

      

      
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      	HALCYON JETS, INC.	 	EXECUTIVE
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	By: /s/ Christian Matteis    	 	
              /s/
                Jonathan
                Gilbert         
                          

            
	
                   
                Christian Matteis, President

            	 	
              Jonathan
                Gilbert

            
	
               

            	
            	
               

               

            

    

    
       

      
        
          
          

        

        9

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