Document:

Exhibit 10.1

REGISTRATION
RIGHTS AGREEMENT

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is
made as of November 29, 2006, between InfoLogix, Inc., a Delaware corporation
(the “Company”), and the individuals and
entities listed on Schedule A to this Agreement (each, an “Investor” and collectively, the “Investors”).

R E C I T A L S

WHEREAS, the
Company and the Investors are parties to the Subscription Agreement dated as of
                             ,
pursuant to the Private Placement Memorandum (as defined in Section 1.1(e)
below) (the “Subscription Agreement”);

WHEREAS,
the Investors’ obligations under the Subscription Agreement are conditioned
upon certain registration rights under the Securities Act of 1933, as amended
(the “Securities Act”) as described in the
Subscription Agreement; and

WHEREAS,
the Investors and the Company desire to provide for the rights of registration
under the Securities Act as are provided in this Agreement upon the execution
and delivery of this Agreement by the Investors and the Company.

NOW,
THEREFORE, in consideration of the promises, covenants and conditions set forth
in this Agreement, the parties to this Agreement hereby agree as follows:

ARTICLE 1.

REGISTRATION RIGHTS.

1.1                                 Definitions. As used in this Agreement, the
following terms shall have the meanings set forth below:

(a)                                  “Common Stock”
means the Company’s common stock, par value $0.00001 per share.

(b)                                 “Exchange Act”
means the Securities Exchange Act of 1934, as amended.

(c)                                  “Filing Date”
means, with respect to the Registration Statement required to be filed
hereunder, a date no later than 90 days following the date of this Agreement.

(d)                                 “Investor” means
any person owning Registrable Securities.

(e)                                  “Private Placement
Memorandum” means the Company’s Confidential Private Placement
Memorandum, dated as of October 17, 2006, for the offering of up to 7,500,000
shares of Common Stock at a purchase price of $2.00 per share.

(f)                                    The terms “Register,”
“Registered” and “Registration”
refer to a registration effected by preparing and filing a registration
statement or similar document in compliance with the Securities Act, and the
declaration or ordering of effectiveness of such registration statement or
document.

(g)                                 “Registrable Securities”
means any of the Shares or a dividend or other distribution with respect to, or
in exchange therefor, or in replacement thereof; provided, however,
that Registrable Securities shall not include any shares of Common Stock that
have previously been registered or which have been sold to the public either
pursuant to a registration statement or Rule 144, or which have been sold in a
private transaction in which the transferor’s rights under this Section 1
were not assigned.

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(h)                                 “Rule 144” means
Rule 144 as promulgated by the SEC under the Securities Act, as such Rule may
be amended from time to time, or any similar successor rule that may be
promulgated by the SEC.

(i)                                     “SEC” means the
United States Securities and Exchange Commission.

(j)                                     “Shares” means
the shares of the Common Stock issued pursuant to the Subscription Agreement.

1.2                                 Company Registration.

(a)                                   
On or prior to the Filing Date the Company shall prepare and file with
the SEC a Registration Statement covering the Registrable Securities for an
offering to be made on a continuous basis pursuant to Rule 415.  The Registration Statement shall be on Form
SB-2 or Form S-3 (except if the Company is not then eligible to register for
resale the Registrable Securities on Form SB-2 or Form S-3, such registration
shall be on another appropriate form in accordance  herewith).

(b)                                 The Company shall cause the Registration
Statement to become effective and remain effective as provided in this
Agreement.  The Company shall use its
best efforts to cause the Registration Statement to be declared effective under
the Securities Act as promptly as possible after the filing thereof.  The Company shall use its reasonable
commercial efforts to keep the Registration Statement continuously effective
under the Securities Act until the date which is the earlier date of (i) twelve
months after the date of the first issuance of the Shares pursuant to the
Subscription Agreement, (ii) when all Registrable Securities have been sold, or
(iii) when all Registrable Securities may be sold immediately without
registration under the Securities Act and without volume restrictions pursuant
to Rule 144(k), as determined by the counsel to the Company pursuant to a
written opinion letter to such effect, addressed and acceptable to the Company’s
transfer agent and the affected Investors.

(c)                                  The Company shall bear and pay all
expenses incurred in connection with any registration, filing or qualification
of Registrable Securities with respect to the registrations pursuant to this Section
1.2 for each Investor, including (without limitation) all federal and state
registration, filing and qualification fees, printer’s fees, accounting fees
and fees and disbursements of counsel for the Company, but excluding
underwriting discounts and commissions relating to Registrable Securities and fees
and disbursements of counsel for the Investors.

1.3                                   Obligations of the Company.
Whenever required under this Section 1 to effect the registration of any
Registrable Securities, the Company shall, as expeditiously as reasonably
possible:

(a)                                    
Prepare and file with the SEC a registration statement with respect to
such Registrable Securities and use its commercially reasonable efforts to
cause such registration statement to become effective, and, upon the request of
the Investors of at least a majority of the Registrable Securities registered
thereunder, keep such registration statement effective for a period which shall
end the earlier of when (i) all Registrable Securities have been sold or (ii)
all Registrable Securities may be sold immediately without registration under
the Securities Act and without volume restrictions pursuant to Rule 144(k);

(b)                                 Prepare and file with the SEC such
amendments and supplements to such registration statement and the prospectus
used in connection with such registration statement as may be necessary to
comply with the provisions of the Securities Act with respect to the
disposition of all securities covered by such registration statement;

(c)                                  Furnish to the Investors such numbers of
copies of a prospectus, including a preliminary prospectus, in conformity with
the requirements of the Securities Act, and such other documents as they may
reasonably request to facilitate the disposition of Registrable Securities
owned by them; provided, that the Company would not be required to print
such prospectuses if readily available to Investors from any electronic
service, such as on the EDGAR filing database maintained at www.sec.gov;

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(d)                                 Use its commercially reasonable efforts
to register and qualify the securities covered by such registration  statement under such other securities’ or
blue sky laws of such jurisdictions as shall be reasonably requested by the
Investors; provided, that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to
file a general  consent to service of
process in any such  states or
jurisdictions;

(e)                                  In the event of any underwritten public
offering, enter into and perform its obligations under an underwriting
agreement, in usual and customary form, with the managing underwriter(s) of
such offering (each Investor participating in such underwriting shall also
enter into and perform its obligations under such an agreement);

(f)                                    Notify each Investor of Registrable
Securities covered by such registration statement at any time when a prospectus
relating thereto is required to be delivered under the Securities Act of the
happening of any event as a result of which the prospectus included in such
registration statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated tin this
Agreement or necessary to make the statements tin this Agreement not misleading
in the light of the circumstances then existing;

(g)                                 Cause all such Registrable Securities
registered pursuant to this Section 1 to be listed on each securities
exchange or nationally recognized quotation system on which similar securities
issued by the Company are then listed; and

(h)                                 Provide a transfer agent and registrar
for all Registrable Securities registered pursuant hereunder and a CUSIP number
for all such Registrable Securities, in each case not later than the effective
date of such registration.

1.4                                  Furnish Information.
It shall be a condition precedent to the Company’s obligations to take any
action pursuant to this Section 1 with respect to the Registrable
Securities of any selling Investor that such Investor shall furnish to the
Company such information regarding such Investor, the Registrable Securities
held by such Investor, and the intended method of disposition of such
securities as shall be required by the Company or the managing underwriters, if
any, to effect the registration of such Investor’s Registrable Securities.

1.5                                 Delay of Registration. No Investor shall have any right to
obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any controversy that might arise with respect to
the interpretation or implementation of this Section 1.

1.6                                 Indemnification.

(a)                                  To the extent permitted by law, the
Company will indemnify and hold harmless each Investor, any underwriter (as
defined in the Securities Act) for such Investor and each person, if any, who
controls such Investor or underwriter within the meaning of the Securities Act
or the Exchange Act, against any losses, claims, damages, or liabilities (joint
or several) to which any of the foregoing persons may become subject under the
Securities Act, the Exchange Act or other federal or state securities law,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any of the following statements,
omissions or violations (collectively, a “Violation”):
(i) any untrue statement or alleged untrue statement of a material fact
contained in a registration statement, including any preliminary prospectus or
final prospectus contained tin this Agreement or any amendments or supplements
thereto (collectively, the “Filings”), (ii)
the omission or alleged omission to state in the Filings a material fact
required to be stated tin this Agreement, or necessary to make the statements
tin this Agreement not misleading, or (iii) any violation or alleged violation
by the Company of the Securities Act, the Exchange Act, any state securities law
or any rule or regulation promulgated under the Securities Act, the Exchange
Act or any state securities law; and the Company will pay any legal or other
expenses reasonably incurred by any person to be indemnified pursuant to this Section
1.7(a) in connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that the
indemnity agreement contained in this Section 1.7(a) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability, 

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or action if such settlement is effected without the consent of the
Company (which consent shall not be unreasonably withheld), nor shall the
Company be liable in any such case for any such loss, claim, damage, liability,
or action to the extent that it arises out of or is based upon a Violation that
occurs in reliance upon and in conformity with written information furnished
expressly for use in connection with such registration by any such Investor,
underwriter or controlling person.

(b)                                 To the extent permitted by law, each
Investor will indemnify and hold harmless the Company, each of its directors,
each of its officers who has signed the registration statement, each person, if
any, who controls the Company within the meaning of the Securities Act, any
underwriter, any other Investor selling securities in such registration
statement and any controlling person of any such underwriter or other Investor,
against any losses, claims, damages, or liabilities (joint or several) to which
any of the foregoing persons may become subject under the Securities Act, the
Exchange Act or other federal or state securities law insofar as such losses,
claims, damages or liabilities (or actions in respect thereto) arise out of or
are based upon any Violation, in each case to the extent (and only to the
extent) that such Violation occurs in reliance upon and in conformity with
written information furnished by such Investor expressly for use in connection
with such registration; and each such Investor will pay any legal or other
expenses reasonably incurred by any person to be indemnified pursuant to this Section
1.6(b) in connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that the
indemnity agreement contained in this Section 1.6(b) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of the Investor (which
consent shall not be unreasonably withheld); provided, however,
that in no event shall any indemnity under this Section 1.6(b) exceed
the gross proceeds from the offering received by such Investor.

(c)                                  Promptly after receipt by an indemnified
party under this Section 1.6 of notice of the commencement of any action
(including any governmental action), such indemnified party will, if a claim in
respect thereof is to be made against any indemnifying party under this Section
1.6, deliver to the indemnifying party a written notice of the commencement
thereof and the indemnifying party shall have the right to participate in, and,
to the extent the indemnifying party so desires, jointly with any other
indemnifying party similarly noticed, to assume the defense thereof with
counsel mutually satisfactory to the parties; provided, however,
that an indemnified party (together with all other indemnified parties that may
be represented without conflict by one counsel) shall have the right to retain
one separate counsel, with the fees and expenses to be paid by the indemnifying
party, if representation of such indemnified party by the counsel retained by
the indemnifying party would be inappropriate due to actual or potential
differing interests between such indemnified party and any other party
represented by such counsel in such proceeding. 
The failure to deliver written notice to the indemnifying party within a
reasonable time of the commencement of any such action, if materially
prejudicial to its ability to defend such action, shall relieve such
indemnifying party of any liability to the indemnified party under this Section
1.6, but the omission so to deliver written notice to the indemnifying
party will not relieve it of any liability that it may have to any indemnified
party otherwise than under this Section 1.6.

(d)                                 If the indemnification provided for in Sections
1.6(a) and (b) is held by a court of competent jurisdiction to be
unavailable to an indemnified party with respect to any loss, claim, damage or
expense referred to tin this Agreement, then the indemnifying party in lieu of
indemnifying such indemnified party hereunder, shall contribute to the amount
paid or payable by such indemnified party as a result of such loss, claim,
damage or expense in such proportion as is appropriate to reflect the relative
fault of the indemnifying party on the one hand and of the indemnified party on
the other in connection with the statements or omissions or alleged statements
or omissions that resulted in such loss, liability, claim or expense as well as
any other relevant equitable considerations. 
The relative fault of the indemnifying party and of the indemnified
party shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact relates to information
supplied by the indemnifying party or by the indemnified party and the parties’
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission.  In
no event shall any Investor be required to contribute an amount in excess of
the gross proceeds from the offering received by such Investor.

(e)                                  Notwithstanding the foregoing, to the
extent that the provisions on indemnification and contribution contained in the
underwriting agreement entered into in connection with the 

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underwritten public offering are in conflict with the foregoing
provisions, the provisions of the underwriting agreement shall control.

(f)                                    The obligations of the Company and
Investors under this Section 1.7 shall survive the completion of any
offering of Registrable Securities in a registration statement under this Section
1, and otherwise.

1.7                                 Reports under Securities
Exchange Act.
With a view to making available the benefits of certain rules and regulations
of the SEC, including Rule 144, that may at any time permit an Investor to sell
securities of the Company to the public without registration or pursuant to a
registration on Form SB-2 or Form S-3, the Company agrees to:

(a)                                  make and keep public information
available, as those terms are understood and defined in Rule 144, at all times
after 90 days after the effective date of the first registration statement
filed by the Company for the offering of its securities to the general public;

(b)                                 take such action, including the voluntary
registration of its Common Stock under Section 12 of the Exchange Act, as is
necessary to enable the Investors to utilize Form SB-2 or Form S-3 for the sale
of their Registrable Securities, such action to be taken as soon as practicable
after the end of the fiscal year in which the first registration statement
filed by the Company for the offering of its securities to the general public
is declared effective;

(c)                                  file with the SEC in a timely manner all
reports and other documents required of the Company under the Securities Act
and the Exchange Act; and

(d)                                 furnish to any Investor, so long as the
Investor owns any Registrable Securities, forthwith upon request (i) a written
statement by the Company that it has complied with the reporting requirements
of Rule 144 (at any time after 90 calendar days after the effective date of the
first registration statement filed by the Company), the Securities Act and the
Exchange Act (at any time after it has become subject to such reporting
requirements), or that it qualifies as a registrant whose securities may be
resold pursuant to Form SB-2 or Form S-3 (at any time after it so qualifies),
(ii) a copy of the most recent annual or quarterly report of the Company and
such other reports and documents so filed by the Company, and (iii) such other
information as may be reasonably requested in availing any Investor of any rule
or regulation of the SEC that permits the selling of any such securities
without registration or pursuant to such form.

1.8                                 Transfer or Assignment of
Registration Rights. The rights to cause the Company to register Registrable Securities
pursuant to this Section 1 may be transferred or assigned, but only with
all related obligations, by a Investor to a transferee or assignee who (a)
acquires at least 100,000 shares (subject to appropriate adjustment for stock
splits, stock dividends and combinations) of Registrable Securities from such
transferring Investor in compliance with all applicable securities laws or (b)
holds Registrable Securities immediately prior to such transfer or assignment; provided,
that such transfer or assignment is in compliance with all applicable
securities laws, and, provided further, that in the case of (a), (ii)
prior to such transfer or assignment, the Company is furnished with written
notice stating the name and address of such transferee or assignee and
identifying the securities with respect to which such registration rights are
being transferred or assigned, (ii) such transferee or assignee agrees in
writing to be bound by and subject to the terms and conditions of this
Agreement, including without limitation the provisions of Section 1.9
and (iii) such transfer or assignment shall be effective only if immediately
following such transfer or assignment the further disposition of such
securities by the transferee or assignee is restricted under the Securities
Act.

1.9                                 “Market Standoff”
Agreement.
Each Investor hereby agrees that it will not, without the prior written consent
of the managing underwriter, during the period commencing on the date of the
final prospectus relating to an underwritten public offering by the Company and
ending on the date specified by the Company and the managing underwriter (such
period not to exceed the earlier of (i) 180 calendar days or (ii) twelve months
after the date of the first issuance of the Shares pursuant to the Subscription
Agreement) (i) lend, offer, pledge, sell, contract to sell, sell any option or
contract to purchase, purchase any option or contract to sell, grant any
option, right or warrant to purchase, or otherwise transfer or dispose of,
directly or 

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indirectly, any securities of the Company, including
(without limitation) shares of Common Stock or any securities convertible into
or exercisable or exchangeable for Common Stock (whether now owned or hereafter
acquired) or (ii) enter into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of
any securities of the Company, including (without limitation) shares of Common
Stock or any securities convertible into or exercisable or exchangeable for
Common Stock (whether now owned or hereafter acquired), whether any such
transaction described in clause (i) or (ii) above is to be settled by delivery
of securities, in cash or otherwise.  The
foregoing covenants shall apply only to the Company’s initial underwritten
public offering of equity securities, shall not apply to the sale of any shares
by a Investor to an underwriter pursuant to an underwriting agreement and shall
only be applicable to the Investors if all the Company’s executive officers,
directors and greater than 5% stockholders enter into similar agreements. Each
Investor agrees to execute an agreement(s) reflecting (i) and (ii) above as may
be requested by the managing underwriters at the time of the initial
underwritten public offering, and further agrees that the Company may impose
stop transfer instructions with its transfer agent in order to enforce the
covenants in (i) and (ii) above.  The
underwriters in connection with the Company’s initial underwritten public
offering are intended third party beneficiaries of the covenants in this Section
1.9 and shall have the right, power and authority to enforce such covenants
as though they were a party to this Agreement.

ARTICLE 2.

LEGEND.

2.1                                 Stock Certificates. Each certificate representing the
shares of Common Stock held by the Investors shall be endorsed with the
following legend (the “Legend”):

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP
PERIOD OF UP TO 180 DAYS FOLLOWING THE EFFECTIVE DATE OF A REGISTRATION
STATEMENT OF THE COMPANY FILED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AS
SET FORTH IN THAT CERTAIN REGISTRATION RIGHTS AGREEMENT BETWEEN THE CORPORATION
AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE
CORPORATION’S PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES
OF THESE SHARES.

2.2                                 Removal of Legend. The Company agrees that, during the
term of this Agreement, it will not remove, and will not permit to be removed
(upon registration of transfer, re-issuance or otherwise), the Legend from any
such certificate and will place or cause to be placed the Legend on any new
certificate theretofore represented by a certificate carrying the Legend.

ARTICLE 3.

MISCELLANEOUS.

3.1                                 Confidentiality. Each Investor receiving any non-public
information of the Company hereby agrees to hold in confidence and trust and to
act in a fiduciary manner with respect to all information so provided; provided,
however, that notwithstanding the foregoing, an Investor may include
summary financial information concerning the Company and general statements
concerning the nature and progress of the Company’s business in an Investor’s
reports to its affiliates.

3.2                                 Governing Law. This Agreement shall be governed in all
respects by the laws of the State of Delaware as such laws are applied to
agreements between Delaware residents entered into and to be performed entirely
within Delaware, without regard to conflict of laws rules.

3.3                                 Waivers and Amendments. This Agreement may be terminated and
any term of this Agreement may be amended or waived (either generally or in a
particular instance and either retroactively or prospectively) with the written
consent of the Company and Investors holding at least a majority of the
Registrable Securities then outstanding (the “Majority
Investors”).  Notwithstanding
the foregoing, additional parties may be added as Investors under this
Agreement with the written consent of the Company 

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and the Majority Investors. No such amendment or
waiver shall reduce the aforesaid percentage of the Registrable Securities, the
holders of which are required to consent to any termination, amendment or
waiver without the consent of the record holders of all of the Registrable
Securities.  Any termination, amendment
or waiver effected in accordance with this Section 3.3 shall be binding
upon each holder of Registrable Securities then outstanding, each future holder
of all such Registrable Securities and the Company.

3.4                                 Successors and Assigns. Except as otherwise expressly provided
in this Agreement, the provisions of this Agreement shall inure to the benefit
of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties to this Agreement.

3.5                                 Entire Agreement. This Agreement constitutes the full and
entire understanding and agreement among the parties with regard to the subject
matter of this Agreement, and no party shall be liable or bound to any other
party in any manner by any warranties, representations or covenants except as
specifically set forth in this Agreement.

3.6                                 Notices. All notices and other communications
required or permitted under this Agreement shall be in writing and shall be
delivered personally by hand or by courier, mailed by United States first-class
mail, postage prepaid, sent by facsimile or sent by electronic mail directed
(a) if to an Investor, at such Investor’s address, facsimile number or
electronic mail address set forth in the Company’s records, or at such other
address, facsimile number or electronic mail address as such Investor may
designate by ten days’ advance written notice to the other parties to this
Agreement or (b) if to the Company, to its address, facsimile number or
electronic mail address set forth on its signature page to this Agreement and
directed to the attention of the Chief Executive Officer, or at such other
address, facsimile number or electronic mail address as the Company may
designate by ten days’ advance written notice to the other parties to this
Agreement. All such notices and other communications shall be effective or
deemed given upon personal delivery, on the date of mailing, upon confirmation
of facsimile transfer or upon confirmation of electronic mail delivery.

3.7                                 Interpretation. The words “include,” “includes” and “including”
when used in this Agreement shall be deemed in each case to be followed by the
words “without limitation.” The titles and subtitles used in this Agreement are
used for convenience only and are not considered in construing or interpreting
this Agreement.

3.8                                 Severability. If one or more provisions of this
Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement, and the balance of the Agreement shall
be interpreted as if such provision were so excluded, and shall be enforceable
in accordance with its terms.

3.9                                 Counterparts. This Agreement may be executed in any
number of counterparts, each of which shall be an original, but all of which
together shall constitute one instrument.

3.10                           Execution and Delivery. A facsimile, telecopy or other
reproduction of this Agreement may be executed by one or more parties to this
Agreement, and an executed copy of this Agreement may be delivered by one or
more parties to this Agreement by facsimile or similar electronic transmission
device pursuant to which the signature of or on behalf of such party can be
seen, and such execution and delivery shall be considered valid, binding and
effective for all purposes. At the request of any party to this Agreement, all
parties to this Agreement agree to execute an original of this Agreement as
well as any facsimile, telecopy or other reproduction of this Agreement.

[Signature page
follows]

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IN
WITNESS WHEREOF, the parties have executed this Agreement on the date first set
forth above.

 

	
  

  	
  INFOLOGIX, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  101 E. County
  Line Road

  
	
   

  	
  Suite 210

  
	
   

  	
  Hatboro, PA
  19040

  
	
   

  	
  Telephone: (215)
  604-0691

  
	
   

  	
   

  
	
   

  	
  Investor:

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Telephone: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Facsimile: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  E-mail address:

  	
   

  	
   

  
								

 

 

[SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT]

 F-8Exhibit
10.2

EMPLOYMENT AGREEMENT

EMPLOYMENT
AGREEMENT dated as of July 17, 2006 (the “Effective Date”),
between INFOLOGIX INC., a Delaware
corporation (the “Company”), and DAVID T. GULIAN (“Employee”).

BACKGROUND

WHEREAS the Company provides enterprise mobile wireless solutions and support
to the healthcare, pharmaceutical, retail, transportation, travel and
entertainment, supply chain/logistics, manufacturing and financial markets,
which solutions include, without limitation, the design, development and manufacture
of products, RFID and other software and proprietary systems, and systems
integration services (the “Business”); and

WHEREAS the Company desires to employ Employee, and Employee desires to enter
into the employ of the Company, on the terms and conditions contained in this
Agreement.

NOW THEREFORE, in consideration of the premises and the
mutual covenants and agreements contained in this Agreement and intending to be
legally bound, the parties hereto agree as follows:

SECTION 1.                 CAPACITY AND DUTIES

1.1          Employment;
Acceptance of Employment. The Company employs Employee and Employee accepts employment by the
Company for the period and upon the terms and conditions set forth below.

1.2          Capacity
and Duties.

(a)           Employee shall be employed by the
Company generally as its President and Chief Executive Officer and, subject to
the supervision of the Board of Directors of the Company (the “Board”) and its
authorized designees, shall perform such duties and shall have such authority
consistent with his position as may from time to time be specified by the
Board. Employee shall report directly to the Board and shall perform his duties
for the Company principally from the Company’s headquarters, except for
periodic travel that may be necessary or appropriate in connection with the
performance of Employee’s duties set forth in this Agreement.

(b)           Employee shall devote his full working time, energy, skill
and best efforts to the performance of his duties set forth in this Agreement,
in a manner which will faithfully and diligently further the business and
interests of the Company and its affiliates (as defined below) and shall not be
employed by or participate or engage in or be a part of in any

 

manner the management or operation of any business
enterprise other than the Company and its affiliates without the prior written
consent of the Board, which consent may be granted or withheld in its sole
discretion; provided,  however,
that Employee may devote a reasonable amount of time to civic, community or
charitable activities and, with the prior written approval of the Board, serve
as a director of other corporations. For purposes of this Agreement, “affiliate”
means any person or entity which is a subsidiary of, controlling or controlled
by or under common control with the Company.

SECTION 2.                 TERM OF EMPLOYMENT

2.1          Term. The term (the “Term”) of Employee’s
employment with the Company shall commence on the Effective Date and continue
until December 31, 2008, unless earlier terminated as provided below.

SECTION 3.                 COMPENSATION

3.1           Basic Compensation.

As compensation for Employee’s services, the Company
shall pay to Employee a salary at the annual rate of $335,000 (the “Base Salary”)
(prorated on the basis of the actual days of employment) payable in periodic
installments in accordance with the Company’s regular payroll practices in
effect from time to time or at such higher annual rate as the Board shall from
time to time determine in its sole discretion.

3.2          Incentive
Compensation; Stock Options. During the Term, the Employee shall
be entitled participate in the Incentive Compensation Plan set forth on Exhibit
A. The Employee will also be granted options to purchase 1,050,000 shares of
Common Stock (post a contemplated
1:25,000 stock split by the Company) at an exercise price of $2.00 per share.

3.3          Employee Benefits. In addition to the compensation provided for
in Sections 3.1 and 3.2, Employee and his dependents shall be entitled during
the Term of his employment to participate in the Company’s medical, dental,
life insurance and disability insurance plans and 401(k) plan and such other of
the Company’s employee benefit plans and benefit programs as may from time to
time be provided for other employees of the Company whose duties,
responsibilities, and compensation are reasonably comparable to those of
Employee, and shall be consistent with the benefits presently provided by the
Company to the Employee. During the Term of Employee’s Employment, the Company
shall procure and pay for a long-term disability insurance policy for Employee
with coverage in an amount equal to 60% of Employee’s Base Salary and a waiting
period for disbursement of benefits not to exceed 90 days.

3.4          Vacation. Employee shall be entitled to a vacation of
four weeks during each calendar year during the Term of his employment, during
which time his compensation shall be paid in full.

3.5          Expense Reimbursement. During the Term of Employee’s employment,
the Company shall reimburse Employee for all reasonable travel and
entertainment expenses

 2
 

 

incurred by him in
connection with the performance of his duties in accordance with the Company’s
policies and procedures as in effect from time to time upon receipt of itemized
vouchers and such other supporting information as the Company may reasonably
require.

3.6          Automobile.
During the Term of
Employee’s employment, the Company shall provide Employee with a monthly
automobile allowance of $1,500 and shall reimburse him for all expenses
reasonably incurred by him for the mileage of such automobile when used in
connection with the performance of his duties in accordance with the Company’s
regular reimbursement policies as in effect from time to time upon receipt of
itemized vouchers and such other supporting information as the Company may
reasonably require.

3.7           Other
Perquisites. During
the Term of Employee’s employment, the Company shall reimburse Employee for all
cell phone charges incurred by him in connection with the performance of his
duties in accordance with the Company’s regular reimbursement policies as in
effect from time to time upon receipt of itemized vouchers and such other
supporting information as the Company may reasonably require. The Company shall
assign the current “key man” life policy maintained by the Company on the life
to the Employee to a beneficiary designated by Employee, and the Company shall,
and shall continue to pay, the premiums necessary to maintain such life
insurance policy.

SECTION 4.                 TERMINATION OF EMPLOYMENT

4.1          Death
of Employee. Employee’s
employment with the Company shall immediately terminate upon his death, upon
which the Company shall not thereafter be obligated to make any further
payments other than amounts (including salary, bonuses, expense reimbursement,
etc.) accrued as of the date of Employee’s death.

4.2          Disability
of Employee. If
Employee, in the reasonable opinion of a physician selected by the Company/the
Board is or has been substantially unable, due to his physical, mental or
emotional illness or condition, to substantially perform his duties for a
period of 16 consecutive weeks in any consecutive 18 month period or is deemed
disabled under the Company’s disability insurance policy then in effect, then
the Company shall have the right to terminate Employee’s employment upon 30
days’ prior written notice to Employee at any time during the continuation of
such inability, in which event the Company shall pay to Employee the amounts
specified in Section 4.4 below.

4.3          Termination
for Cause. Employee’s
employment with the Company shall terminate immediately upon notice that the
Company is terminating Employee for “cause” (as defined in this Agreement), in
which event the Company shall not be obligated to make any further payments to
Employee other than amounts (including salary, bonuses, expense reimbursement,
etc.) accrued under this Agreement as of the date of such termination and all
amounts due pursuant to Section 4.5
hereof. As used herein, “cause”
shall mean the following:

(i) Commission of any act of fraud or
misappropriation relating to or involving the Company in any way;

 3
 

 

(ii)                     Violation of any lawful express appropriately
authorized direction of the Company or any material violation of any rule,
regulation, policy or plan established by the Company from time to time
regarding the conduct of its employees and/or its Business, if such violation
is not remedied (if capable of remedy) by the Employee within thirty (30) days
of receiving notice of such violation from the Company;

(iii)                     Material violation of any obligation of this
Agreement that is demonstrably willful and deliberate on the Employee’s part
and is not remedied (if capable of remedy) by the Employee within 15 days after
receiving notice of such violation from the Company;

(iv)                    Disclosure or use of Confidential Information, as
defined in Section 5.1, other than as required in the performance of the
Employee’s duties under this Agreement;

(v)                    Indictment (or state law equivalent) or
conviction of a crime constituting a felony; and

(vi)                    The Employee’s use of
alcohol or any unlawful controlled substance to an extent that it interferes
materially with the performance of the Employee’s duties under this Agreement.

4.4          Termination
without Cause. The
Board in its sole discretion may terminate Employee’s employment with the
Company upon 30 days’ prior written notice to Employee at any time.

4.5           Severance
Pay. In the event
that Employee is terminated without cause or by reason of disability, and
provided the Employee signs a full release agreement in favor of the
Company, Employee shall be entitled to receive, (i) prior to the first
anniversary of the Effective Date, for a period of eighteen months following
such termination, severance pay in an amount equal to Employee’s Base Salary
plus all earned and unpaid commissions and bonuses; and (ii) after the first
anniversary of the Effective Date, for a period of one year following such
termination, severance pay in an amount equal to Employee’s Base Salary plus
all earned and unpaid commissions and bonuses. In addition, the Company shall
continue to provide Employee’s medical and dental coverage then in effect for
Employee until the earlier of (i) one year following his termination date or
(ii) upon receipt by Employee of comparable benefits from an employer or other
source.

 4
 

 

SECTION 5.                 RESTRICTIVE COVENANTS

5.1          Confidentiality.

(a)           Employee
shall not, either during or after his employment with the Company, directly or
indirectly use, publish or otherwise disclose or divulge to any third party any
trade secrets, confidential or proprietary information of the Company other
than as required by law or in the ordinary course of the Company business
(including, without limitation, any such information concerning customers,
vendors, services, products, processes, pricing policies, business plans or
records, any technical or financial information or data, or any information
relating to the history or prospects of the Company or any of its
stockholders). “Confidential” information includes, without limitation, all
proprietary information, technical data, trade secrets or know-how of the Company,
including, but not limited to research, product plans, customer lists
developments, inventions, processes, formulas, technology, designs, drawings,
engineering, hardware configuration information or other business information
disclosed to Employee by the Company either directly or indirectly in writing,
orally or by drawings or Employee’s observation of parts or equipment,
unpublished information and all information and data which is not generally
known by the industry.

(b)           Employee
shall not, either during or after his employment with the Company, directly or
indirectly copy, reproduce or remove from the Company’s premises, except in the
ordinary course of Company business, trade secrets, confidential or proprietary
information of the Company (in any medium) or any Company documents, files or
records (including without limitation any invoices, customer correspondence,
business cards, orders, computer records or software, or mailing, telephone or
customer lists). All such documents, files and records, and all other
memoranda, notes, files, records, lists and other documents made, compiled or
otherwise acquired by Employee in the course of his employment with the Company
are and shall remain the sole property of the Company and all originals and
copies thereof shall be delivered to the Company upon termination of employment
for whatever reason.

5.2           Inventions and Improvements. Any and all
writings, inventions, improvements, processes, procedures, ideas and/or
techniques which the Employee may have made, conceived, discovered or
developed, or which Employee may make, conceive, discover or develop, either
solely or jointly with any other person or persons, at any time during the term
of his employment with the Company, whether or not during working hours and whether
or not at the request or upon the suggestion of the Company, which (i) related
or relate to or are useful in connection with any Business previously, now or
hereafter carried on or contemplated by the Company, including developments or
expansions of its present fields of operations, (ii) resulted or result from
any work performed by the Employee for the Company or any of its clients; or
(iii) resulted or result from the use of the premises or personal property
(whether tangible or intangible) owned, leased, or contracted for by the
Company (collectively, the “Work Product”), the Employee hereby agrees that any
Work Product shall be the property of the Company and, if subject to copyright,
shall be considered a “work made for hire” within the meaning of the Copyright
Act of 1976, as amended (the “Act”). If and to the extent that any such Work
Product is found as a matter of law not to be a “work made for hire” within the
meaning of the Act, the Employee hereby expressly assigns to the Company all of
his right, title, and interest in and to the Work Product, and all copies
thereof, and the copyright, patent, trademark, trade secret, and all

 5
 

 

other
proprietary rights in the Work Product, without further consideration, free
from any claim, lien for balance due, or rights of retention thereto on the
part of the Employee. The Employee agrees that he shall make full disclosure to
the Company of all such writings, inventions, improvements, processes,
procedures and techniques, and shall do everything necessary or desirable to
vest the absolute title thereto in the Company. The Employee shall write and
prepare all specifications and procedures regarding such inventions,
improvements, processes, procedures and techniques and otherwise aid and assist
the Company so that the Company can prepare and present applications for
copyright or Letters Patent therefore and can secure such copyright or Letters
Patent wherever possible, as well as reissues, renewals, and extensions
thereof, and can obtain the record title to such copyright or patents so that
the Company shall be the sole and absolute owner thereof in all countries in
which it may desire to have copyright or patent protection. The Employee shall
not be entitled to any additional or special compensation or reimbursement
regarding any and all such writings, inventions, improvements, processes,
procedures and techniques. In
the event that the Company is unable, after reasonable effort, to secure
my signature on any letters patent, copyright, or other analogous protection
relating to Work Product, whether because of the Employee’s physical or mental
incapacity or for any other reason whatsoever, Employee hereby irrevocably
designates and appoints the Company and its duly authorized officers and agents
as my agent and attorney-in-fact, to act for and on my behalf to execute and
file any such application or applications and to do all other lawfully
permitted acts to further the prosecution and issuance of letters patent,
copyright and other analogous protection with the same legal force and effect
as if personally executed by the Employee .

5.3           Noncompetition and
Nonsolicitation. During the Term of Employee’s employment and for
one year after any termination of employment for any reason, the Employee shall
not, for his own benefit or the benefit of any other person or entity, directly
or indirectly, in any capacity (as an employee, officer, director, shareholder,
partner, agent, principal, independent contractor, owner or otherwise) (i)
engage in or be financially interested in any business operation in the United
States which engages in whole or in part (A) in the Business or (B) in the manufacture, assembly,
design, distribution or marketing of any product or equipment substantially
similar to or in competition with any product or equipment which at any time
during the Term of such employment or the immediately preceding twelve month
period has been manufactured, sold or distributed by the Company or any product
or equipment which the Company was developing during such period for future
manufacture, sale or distribution or the provision of any service substantially
similar to or in competition with any service offered by the Company at any
time during the twelve month period or which the Company was developing during
such period; (ii) solicit, or attempt to solicit any customer of the Company;
(iii) solicit, or contact with a view to the engagement or employment by, any
person or entity of any person who is an employee of the Company; (iv) seek to
contract with or engage (in such a way as to adversely affect or interfere with
the business of the Company) any person or entity who has been contracted with
or engaged to manufacture, assemble, supply or deliver products, goods,
materials or services to the Company; or (v) engage in or participate in any
effort or act to induce any of the customers, associates, consultants or
employees of the Company or any of its affiliates to take any action which
might be disadvantageous to the Company or any of its affiliates; except that
nothing in this Agreement shall prohibit Employee and his affiliates from
owning, as passive investors, in the aggregate not more than 5% of the outstanding publicly traded
stock of any corporation so engaged. The duration of the Employee’s covenants
set forth in this Section shall

 6
 

 

be extended by a period
of time equal to the number of days, if any, during which Employee is in
violation of the provisions contained in this Agreement.

5.4          Injunctive
and Other Relief.

(a)           Employee
acknowledges that the covenants contained in this Agreement are fair and
reasonable in light of the consideration paid under this Agreement, and that
damages alone shall not be an adequate remedy for any breach by Employee of his
covenants contained herein and accordingly expressly agrees that, in addition
to any other remedies which the Company may have, the Company shall be entitled
to injunctive relief in any court of competent jurisdiction for any breach or
threatened breach of any such covenants by Employee. Nothing contained in this Agreement
shall prevent or delay the Company from seeking, in any court of competent
jurisdiction, specific performance or other equitable remedies in the event of
any breach or intended breach by Employee of any of his obligations under this
Agreement.

(b)           Notwithstanding the equitable relief available to
the Company, the Employee, in the event of a breach of his covenants contained
in Section 5, understands that the uncertainties and delays inherent in the
legal process would result in a continuing breach for some period of time, and
therefore, continuing injury to the Company until and unless the Company can
obtain such equitable relief. Therefore, in addition to such equitable relief,
the Company shall be entitled to monetary damages for any such period of breach
until the termination of such breach, in an amount deemed reasonable to cover
all actual and consequential losses, plus all monies received by Employee as a
result of said breach. If Employee should use or reveal to any other person or
entity any confidential information, this will be considered a continuing
violation on a daily basis for so long a period of time as such confidential
information is made use of by Employee or any such other person or entity.

(c)           Employee agrees that the foregoing
territorial and time limitations are reasonable and properly required for the
adequate protection of the business of the Company and that in the event that
any such territorial or time limitation is deemed to be unreasonable by a court
of competent jurisdiction, then Employee agrees and submits to the reduction of
either said territorial or time limitation to such an area or period as said
court shall deem reasonable.

SECTION 6.                 MISCELLANEOUS

6.1           Arbitration.

(a)           All disputes arising out of or
relating to this Agreement which cannot be settled by the parties shall
promptly be submitted to and determined by a single arbitrator in Montgomery
County, Pennsylvania, pursuant to the rules and regulations then obtaining of
the American Arbitration Association; but nothing in this Agreement shall
preclude the Company from seeking, in any court of competent jurisdiction,
damages, specific performance or other equitable remedies in the case of any
breach or threatened breach by Employee of Section 5. The decision of the arbitrator
shall be final and binding upon the parties, and judgment upon such decision
may be entered in any court of competent jurisdiction.

 7
 

 

(b)           Discovery
shall be allowed pursuant to the intendment of the United States Federal Rules
of Civil Procedure and as the arbitrators determine appropriate under the
circumstances.

(c)           The
arbitrator shall be required to apply the contractual provisions in deciding
any matter submitted to it and shall not have any authority, by reason of this
Agreement or otherwise, to render a decision that is contrary to the mutual
intent of the parties as set forth in this Agreement.

6.2          Prior
Employment. Employee represents and warrants that he is not a
party to any other employment, noncompetition or other agreement or restriction
which could interfere with his employment with the Company or his or the
Company’s rights and obligations; and that his acceptance of employment with
the Company and the performance of his duties will not breach the provisions of
any contract, agreement, or understanding to which he is party or any duty owed
by him to any other person.

6.3          Severability.
The invalidity or unenforceability of any particular provision or
part of any provision of this Agreement shall not affect the other provisions
or parts of this Agreement. If any provision of this Agreement is determined to
be invalid or unenforceable by a court of competent jurisdiction by reason of
the duration or geographical scope of the covenants contained in this
Agreement, such duration or geographical scope, or both, shall be considered to
be reduced to a duration or geographical scope to the extent necessary to cure
such invalidity.

6.4          Assignment.
This Agreement shall not be assignable by Employee, and shall be
assignable by the Company only to any person or entity which may become a
successor in interest (by purchase of assets or stock, or by merger, or
otherwise) to the Company in the business or a portion of the business
presently operated by it. Subject to the foregoing, this Agreement and the rights
and obligations set forth in this Agreement shall inure to the benefit of, and
be binding upon, the parties and each of their respective permitted successors,
assigns, heirs, executors and administrators.

6.5          Notices. All
notices shall be in writing and shall be sufficiently given if hand-delivered,
sent by documented overnight delivery service or registered or certified mail,
postage prepaid, return receipt requested or by telegram, fax or telecopy
(confirmed by U.S. mail), receipt acknowledged, addressed as set forth below or
to such other person and/or at such other address as may be furnished in
writing by any party to the other. Any such notice shall be deemed to have been
given as of the date received, in the case of personal delivery, or on the date
shown on the receipt or confirmation therefor, in all other cases. Any and all
service of process and any other notice in any such action, suit or proceeding
shall be effective against any party if given as provided in this Agreement;
but nothing in this Agreement shall be deemed to affect the right of any party
to serve process in any other manner permitted by law.

(a)           If to the Company:

 8
 

 

 

	
  

  	
   

  	
  101 E. County
  Line

  
	
   

  	
   

  	
  Suite 210

  
	
   

  	
   

  	
  Hatboro, PA
  19040

  
	
   

  	
   

  	
  Tel: (215) 604-0691

  
	
   

  	
   

  	
  Fax: (215)
  604-0695

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Attention:
  General Counsel

  
	
   

  	
   

  	
   

  
	
   

  	
  (b)

  	
  If to Employee:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  David T. Gulian

  
	
   

  	
   

  	
  50 Dream Valley
  Drive

  
	
   

  	
   

  	
  Newtown Square,
  PA 19073

  
	
   

  	
   

  	
  Tel: (610)
  355-0815

  
	
   

  	
   

  	
  Fax: (610)
  325-3830

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  With a copy to:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Drinker Biddle & Reath LLP

  
	
   

  	
   

  	
  One Logan Square

  
	
   

  	
   

  	
  18th and Cherry Streets

  
	
   

  	
   

  	
  Philadelphia, PA
  19103-6996

  
	
   

  	
   

  	
  Tel: (215)
  988-2700

  
	
   

  	
   

  	
  Fax: (215)
  988-2757

  
	
   

  	
   

  	
  Attention:
  Stephen T. Burdumy, Esq.

  

 

6.6           Entire Agreement and Modification.
This Agreement constitutes
the entire agreement between the parties with respect to the matters
contemplated in this Agreement and supersedes all prior agreements and
understandings with respect to those matters. Any amendment, modification, or
waiver of this Agreement shall not be effective unless in writing. Neither the
failure nor any delay on the part of any party to exercise any right, remedy,
power or privilege shall operate as a waiver thereof, nor shall any single or
partial exercise of any right, remedy, power or privilege preclude any other or
further exercise of the same or of any other right, remedy, power, or privilege
with respect to any occurrence be construed as a waiver of any right, remedy,
power, or privilege with respect to any other occurrence.

6.7          Governing
Law. This Agreement is
made pursuant to, and shall be construed and enforced in accordance with, the
internal laws of the Commonwealth of Pennsylvania (and United States federal
law, to the extent applicable), without giving effect to otherwise applicable
principles of conflicts of law.

6.8          Headings;
Counterparts. The
headings of paragraphs in this Agreement are for convenience only and shall not
affect its interpretation. This Agreement may be executed in two or more
counterparts, each of which shall be deemed to be an original and all of which,
when taken together, shall be deemed to constitute but one and the same
Agreement.

 9
 

 

6.9          Further
Assurances. Each
of the parties shall execute such further instruments and take such other
actions as any other party shall reasonably request in order to effectuate the
purposes of this Agreement.

6.10        Waiver.
Neither the failure
nor any delay on the part of either party to exercise any right, remedy, power
or privilege under this Agreement shall operate as a waiver thereof, nor shall
any single or partial exercise of any right, remedy, power or privilege
preclude any other or further exercise of the same or of any other right,
remedy, power or privilege, nor shall any waiver of any right, remedy, power or
privilege with respect to any occurrence be construed as a waiver of such
right, remedy, power or privilege with respect to any other occurrence.

6.11        Survival.
The terms and
conditions contained in Section 5 shall survive the termination or expiration
of this Agreement.

 10

 

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

	
  

  	
  INFOLOGIX
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard D.
  Hodge

  	
   

  
	
   

  	
  Richard D. Hodge

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMPLOYEE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Gulian

  	
   

  
	
   

  	
  David Gulian

  

 

 

 

 

EXHIBIT A

INCENTIVE COMPENSATION

The Employee shall
be entitled to the following incentive compensation:

Fiscal Year Ending December 31, 2006

·                  The Employee
shall be paid a bonus of $115,000 upon consummation of merger of the Company
with a public shell company.

·                  Minimum
Performance bonus of $147,000 based upon achieving Revenue and EBITDA targets
set by the Board of Directors. Minimum Performance bonus will be pro rated and
paid monthly throughout the year. Other incentive compensation may be available
at the discretion of the Board of Directors or the Compensation Committee of
the Board of Directors in excess of the $147,000 referenced above, and such
additional amount will be paid to Employee after the close of the Company’s
fiscal year and sign off by the Company’s auditors.

Fiscal Year Ending December 21, 2007

·                  Minimum
Performance bonus of $147,000 based upon achieving Revenue and Net Income
targets and such other parameters as set by the Board of Directors or the
Compensation Committee of the Board of Directors for 2007. Minimum Performance
bonus will be pro rated and paid monthly throughout the year. Other incentive
compensation may be available at the discretion of the Board of Directors or
the Compensation Committee of the Board of Directors in excess of the $147,000
referenced above, and such additional amount will be paid to Employee after the
close of the Company’s fiscal year and sign off by the Company’s auditors.

Fiscal Year Ending December 31, 2008

·                  Compensation
to be set by the Board of Directors or the Compensation Committee of the Board
of Directors; provided that the total compensation opportunity available to the
Employee will be no less than that paid to Employee by the Company in 2007.

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