Document:

Amendment No. 2 to Stock & Deferred Compensation Plan for Non-Employee Directors

 EXHIBIT 10.4 
 AMENDMENT NO. 2 
 to 

GENTIVA HEALTH SERVICES, INC. 
 STOCK & DEFERRED COMPENSATION PLAN 
 FOR NON-EMPLOYEE DIRECTORS 

This Amendment No. 2 dated as of May 12, 2011 to Gentiva Health Services, Inc. Stock & Deferred Compensation Plan for
Non-Employee Directors, as amended and restated as of December 31, 2007 and as further amended by Amendment No. 1 thereto (the “Plan”). 
 W I T N E S S E T H: 
 WHEREAS, pursuant to Section 7(d) of the Plan the Board of Directors has authorized amending the Plan as follows; 
 NOW, THEREFORE, the following sections of the Plan are amended, effective May 12, 2011: 
 1. In Section 4(a) of the Plan, the dollar amount “$80,000” is deleted, and the dollar amount “$120,000” is substituted therefor. 

2. In the first sentence of Section 4(b) of the Plan, the dollar amount “$20,000” is deleted, and the dollar amount
“$30,000” is     substituted therefor. 
 3. Except as amended hereby, all other terms and
conditions of the Plan shall remain in full force and effect.Letter dated June 3, 2011 to Ronald A. Malone

 EXHIBIT 10.5 

June 3, 2011 
 Mr. Ronald Malone 
  

	 	Re:	Extension of Option Exercise Period 

Dear Ron: 
 The employment
agreement entered into by and between Gentiva Health Services, Inc. (the “Company”) and you, as amended, provides that any stock options to purchase Company common stock held by you may be exercised until December 31, 2012 (but not
beyond the original full term of the option). On May 12, 2011, the Compensation, Corporate Governance and Nominating Committee of the Board of Directors of the Company approved an extension of the option exercise period of stock options held by
you. Therefore, effective as of May 12, 2011, any stock options to purchase Company common stock held by you may be exercised until June 30, 2014 (but not beyond the original full term of the option). 

If you have any questions regarding the extension of the option exercise period, please feel free to contact me at (770) 541-3688 or
John N. Camperlengo at (770) 951-6387. In addition, please acknowledge by executing and returning one copy of this letter. 
  

			
	Very truly yours,
	
	GENTIVA HEALTH SERVICES, INC.
		
	By:	 	 /s/ John Karr

	Name:	 	John Karr
	Title:	 	Vice President, Compensation and Benefits

 Acknowledged: 
  

			
	By:	 	 /s/ Ronald A. Malone

		 	Ronald MalonePengram Corporation: Exhibit 10.1 - Filed by newsfilecorp.com

DIRECTOR NON-QUALIFIED STOCK OPTION AGREEMENT OF
PENGRAM
CORPORATION
A Nevada Corporation

THIS AGREEMENT is made between PENGRAM
CORPORATION, a Nevada corporation (hereinafter referred to as the
"Company"), and [NAME] of [ADDRESS] (hereinafter referred to as the
“Optionee”), a director of the Company, or a director of the Company’s
subsidiary, effective as of the _____ day of ______________, 20___.

1.       Option
Granted

The Company hereby grants the Optionee a non-qualified option
to purchase [SHARES] (NUMBER) shares of the Company’s Common Stock at a
purchase price of $_____ per share for a term commencing on the effective
date of this Agreement and expiring at 5:00 pm (Pacific Time) on the _____ day
of ______________, 20___ (the “Expiration Date”), subject to termination as set
forth herein. All options will be fully vested upon execution of this
Agreement.

2.       Time of Exercise
of Option

The Optionee may exercise the option granted herein at any time
after the effective date of this Agreement until the date of termination of the
option as provided herein.

3.       Method of
Exercise

This option shall be exercised by written notice delivered to
the Company at its principal place of business, stating the number of shares for
which the option is being exercised. The notice must be accompanied by a check
or other methods of payment acceptable to the Plan Administrator for the amount
of the purchase price, and comply with all the requirements of the Company’s
2011 Stock Incentive Plan dated March 1, 2011, a copy of which has been provided
to the Optionee.

4.       Capital
Adjustments

The existence of this option shall not affect in any way the
right or power of the Company or its stockholders to: (1) make or authorize any
or all adjustments, recapitalizations, reorganizations, or other changes in the
Company's capital structure or its business; (2) enter into any merger or
consolidation; (3) issue any bonds, debentures, preferred or prior preference
stocks ahead of or affecting the common stock or the rights thereof, (4) issue
any securities convertible into any common stock, (5) issue any rights, options,
or warrants to purchase any common stock, (6) dissolve or liquidate the Company,
(7) sell or transfer all or any part of its assets or business, or (8) take any
other corporate act or proceedings, whether of a similar character or
otherwise.

5.       Reorganization,
Merger, Amalgamation and Consolidation

If there shall, prior to the exercise of any of the options
provided for by this Agreement, be any reorganization of the authorized capital
of the Company by way of consolidation, merger, subdivision, amalgamation or
otherwise, or the payment of any stock dividends, then there shall automatically
be an adjustment in either or both of the number of shares which may be
purchased pursuant hereto or the price at which such shares may be purchased so
that the rights evidenced hereby shall thereafter as reasonably as possible be
equivalent to those originally granted hereby. The Company shall have the sole
and exclusive power to make such adjustments as it considers necessary and
desirable.

- 2 -

In the event of a complete liquidation of the Company or a
merger, reorganization, or consolidation of the Company with any other
corporation in which the Company is not the surviving corporation, or the
Company becomes a wholly-owned subsidiary of another corporation, any
unexercised options granted under this Agreement shall be deemed cancelled
unless the surviving corporation in any such merger, reorganization, or
consolidation elects to assume the options under this Agreement or to issue
substitute options in place thereof; provided, however, that notwithstanding the
foregoing, if such options would be cancelled in accordance with the foregoing,
the Optionee shall have the right exercisable during a ten-day period ending on
the fifth day prior to such liquidation, merger, or consolidation to exercise
such option in whole or in part without regard to any installment exercise
provisions in this Agreement.

6.       Transfer of this
Option

During the Optionee's lifetime, this option shall be
exercisable only by the Optionee. This option shall not be transferable by the
Optionee other than by the laws of descent and distribution upon the Optionee's
death. In the event of the Optionee's death during the term of this Agreement,
the Optionee's personal representatives may exercise any portion of this option
that remains vested and unexercised at the time of the Optionee's death,
provided that any such exercise must be made, if at all, during the period
within six (6) months after the Optionee's death, and subject to the option
termination date specified in Paragraph 7(d) below.

7.       Termination of
Option

This Agreement and the Optionee's right to exercise any options
shall terminate on the earliest of the following dates:

	 	(a) 	
      Subject to subsection (b) below, the date which is thirty
      (30) days from the later of the dates on which: (i) the Optionee ceases to
      act as a director or officer of the Company or any subsidiary of the
      Company; (ii) the Optionee ceases to be engaged as a consultant of the
      Company or any subsidiary of the Company, if applicable; (iii) the
      Optionee ceases to be an employee of the Company or any subsidiary of the
      Company, if applicable;

	 	 	 
	 	(b) 	
      In the event of the termination of the Optionee as a
      director, officer, employee or consultant as a result of a breach of the
      Optionee’s obligations to the Company or any subsidiary of the Company,
      the earliest date on which the Optionee is terminated as a director,
      officer, employee or consultant;

	 	 	 
	 	(c) 	
      The date which is six months from the date of the
      Optionee's death, in the event of termination as a result of the death of
      the Optionee; or

	 	 	 
	 	(d) 	
      The Expiration Date.

8.       Rights as
Shareholder

The Optionee will not be deemed to be a holder of any shares
pursuant to the exercise of this option until he or she pays the option price
and a stock certificate is delivered to him or her for those shares. No
adjustment shall be made for dividends or other rights for which the record date
is prior to the date the stock certificate is delivered.

- 3 -

9.       Integration
with the Company’s 2011 Stock Incentive Plan

All of the terms and conditions of the Company’s 2011 Stock
Incentive Plan, a copy of which has been provided to the Optionee, are
specifically made a part of this Agreement and shall control with regard to the
interpretation or construction of any provision that is inconsistent herewith.
This Agreement will be governed by and construed in accordance with the laws of
the State of Nevada.

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the «IssueDay» day of «IssueMonth», «IssueYear».

PENGRAM CORPORATION
by its authorized signatory:

 

	 
	 
	 
	OPTIONEE: 
	 
	 
	 
	SIGNATURE OF DIRECTOR 
	 
	 
	NAME OF DIRECTOR 
	 
	 
	 
	ADDRESS 
	 
	 
	 
	NUMBER OF OPTIONSex10_1.htm

Exhibit 10.1

 

AMENDMENT NO. 5

 

TO NOTE EXCHANGE AND OPTION AGREEMENT

 

This AMENDMENT NO. 5 to the NOTE EXCHANGE AND OPTION AGREEMENT is entered into as of June 1, 2011 (this “Amendment”), by and among KEYWIN HOLDINGS LIMITED, a British Virgin Islands company (“Keywin”), and NETWORK CN INC., a Delaware corporation (the “Company”).  Each of the parties hereto is referred to as a “Party” and collectively as the “Parties.”  Capitalized terms used, but not otherwise defined, herein have the meanings ascribed to such terms in the Original Agreement (as defined below).

 

BACKGROUND

 

The Parties entered into a Note Exchange and Option Agreement, dated as of April 2, 2009, as amended by Amendment No. 1 to Note Exchange and Option Agreement, dated as of July 1, 2009, Amendment No. 2 to Note Exchange and Option Agreement, dated as of September 30, 2009, Amendment No. 3 to Note Exchange and Option Agreement, dated as of January 1, 2010 and Amendment No. 4 to Note Exchange and Option Agreement, dated as of  September 30, 2010 (together, the “Original Agreement”), pursuant to which the Company (a) issued 307,035,463 shares of its common stock, par value $0.001 per share in exchange for certain notes payable by the Company held by Keywin, (b) agreed to grant Keywin an option (the “Option”) to purchase from the Company an aggregate of 122,814,185 shares of the Common Stock for an aggregate purchase price of $2,000,000, exercisable within 27 months after April 2, 2009 and (c) the Company shall have the right, at its sole discretion, to terminate the Option by providing Keywin with thirty (30) days’ advance written notice of such termination.  The Parties now desire to enter into this Amendment to modify the terms of the Original Agreement as more specifically set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the mutual promises of the Parties, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.         Amendment to Exercise Period: Subsection (a) of Section 2, of the Original Agreement is deleted in its entirety and in lieu thereof the following provision is inserted:

 

(a) For a thirty-three (33) month period commencing on the Closing Date (the “Exercise Period”), the Noteholder shall have the right to purchase from the Company an aggregate of 122,814,185 shares of the Common Stock for an aggregate purchase price of $2,000,000 (the “Purchase Price”).  The Option may be exercised by the Noteholder at any time during the Exercise Period by giving written notice to the Company.

2.         Agreement.  In all other respects, the Original Agreement shall remain in full force and effect.

 

  

  

  

 

3.         Counterparts.  This Amendment may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

 

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

 

	 	NETWORK CN INC.	 
	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Godfrey Hui 	 
	 	Name: Godfrey Hui	 
	 	Title: Director and Deputy CEO	 
	 	 	 	 

 

	 	KEYWIN HOLDINGS LIMITED	 
	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Earnest Leung 	 
	 	Name: Earnest Leung	 
	 	Title: Director 	 
	 	 	 	 

 

 

 

 

 

Amendment No. 5 Note Exchange and Option Agreement

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