Document:

exv10w3

 

26 September, 2006

Ms Noga Confino

1 Drake Road

Brockley

London SE4 1QH

We refer to Buyer Series 2B Loan Note issued on 28 October 2005 with a Maturity Date of 30
September 2006 and the Deed of Variation and Settlement relating to the sale and purchase of the
entire issued share capital of Double Helix Solutions Limited dated 28 October 2005 (the “Variation
Deed”). Capitalized terms as used in this letter shall have the same meaning as set out therein.

We note that under the terms of the Buyer Series 2B Loan Note, the sum of £111,684.38 including
interest is due to you on 30 September 2006 and that under the Variation Deed we are entitled to
deduct the sum of £35,703.025 from the sum to be paid to you under the Buyer Series 2B Loan Note in
relation to a FURB claim pending Final Determination of the FURB claim.

We propose that notwithstanding Clause 2(a) of the Note payment of both the principal amount and
all Interest accrued thereon payable under the Note be made by the issue of 101,926 shares of
common stock of the Borrower to the Holder (the “Shares”), which number of Shares was determined
based upon the volume weighted average price of our common stock during the trading hours of 9.30am
to 4pm (Eastern Standard Time) over the preceding ten trading days ending on September 25, 2006 and
using the mid market spot rate for the conversion of pounds sterling into US Dollars on September,
25 2006 as published in the London edition of the Financial Times on September 26, 2006. Such
payment shall be in full satisfaction of all liabilities and obligations of the Borrower to the
Holder under the Note which shall be deemed satisfied and cancelled upon your acceptance of this
proposal, subject to the issuance of the Shares as provided herein.

We propose that 69,351 Shares be issued to you on the date hereof (the “First Shares”) and that
32,575 Shares be withheld (the “Second Shares”) in relation to the FURB claim and be dealt with in
accordance with paragraph 2.2(b) of Schedule 7 of the Share Sale and Purchase Agreement as amended
by the Second Schedule of the Variation Deed.

In consideration of your agreement to receive payment of the Note by way of the Shares in lieu of
cash, we agree to use all reasonable efforts to file a registration statement covering the Shares
promptly after the date of issue (and, in the case of the First Shares, in any event by no later
than 31 October 2006) and to make all other filings required by SEC rules or requested by the SEC
in order for the registration statement to become effective. For the avoidance of doubt, upon such
filings becoming effective, the limitations in respect of the sale of shares held by the Holder in
the Borrower imposed pursuant to Clause 15 of the share sale and purchase agreement dated 24 March
2005 relating to Double Helix Solutions Limited (as amended), will not apply to the sale of the
Shares after the registration statement becomes effective (providing that such limitations shall
continue to apply, to the extent applicable, in all other respects to any other shares held by the
Holder in the Borrower).

 

 

We also have received written instructions from you requesting that the Shares be issued in
certificated form and will procure that you are recorded in the Buyer’s stock registers as the
holder of the shares then issued and the relative stock certificates be issued to you. We note
that we can reissue the shares in uncertificated form following the registration statement becoming
effective if you surrender the certificated shares to the Borrower at that time.

The proposal set out in this letter, if accepted, shall be governed by and construed in accordance
with, and enforced under, the laws of the state of Maryland, without regard to the conflicts of law
principles thereof.

Please confirm your agreement to the proposals set out in this letter by signing where indicated
below.

Yours faithfully

/s/ Steven R. Delmar

Duly authorized signatory

for and on behalf of

ACE**COMM Corporation

 

AGREEMENT

We irrevocably agree to the proposal from ACE**COMM Corporation to us as set out above relating to
the repayment of the Buyer Series 2B Loan Note issued on 28 October 2005.

	 	 	 	 	 
	/s/ Noga Confino
 

	 	 
	 	Dated: 27 September 2006exv10w1

 

Mercator Partners Acquisition Corp.

One Fountain Square

11911 Freedom Drive, Suite 590

Reston, Virginia 20190

June 15, 2006

To: H. Brian Thompson

Dear Mr. Thompson:

          This Employment Agreement (“Agreement”) will serve to confirm the terms of your employment
with Mercator Partners Acquisition Corp. (“Mercator” or “Company”) as Executive Chairman. In
consideration of the mutual promises contained in this Agreement, you and Mercator agree to the
following terms of employment.

	1.	 	EMPLOYMENT:

          Mercator hereby offers you employment as Executive Chairman, commencing on the date that
Mercator acquires European Telecommunications & Technology, Inc. and Global Internetworking, Inc.
You hereby accept employment with Mercator on the terms and conditions set forth in this Agreement.
Your duties as Executive Chairman will include but not be limited to the following:

	 	•	 	serving as Chairman of the Board of Directors;
	 
	 	•	 	obtaining direct reports from, and providing guidance and direction to, all other
executive and senior officers of the Company;
	 
	 	•	 	assisting in the development of and overseeing the Company’s execution of the Company’s
strategic plan;
	 
	 	•	 	coordinating and overseeing the integration of the Company’s business
units/subsidiaries;
	 
	 	•	 	accessing industry contacts in order to promote the Company’s business;
	 
	 	•	 	overseeing the Company’s efforts in connection with the acquisition of target companies;
and
	 
	 	•	 	performing such other and further duties that the Board of Directors reasonably assigns
to you from time to time.

 

 

You agree to devote your best efforts and as much time as is required to execute your
responsibilities and duties under this Agreement. You may accept other engagements with other
companies while this Agreement is in effect, provided that such engagements do not interfere with
your duties and responsibilities under this Agreement. Specifically, it is agreed that you can
continue to serve as a director for Sonus Networks, Inc., United Auto Group, Inc., Axcelis
Technologies, Inc. and Bell Canada International, Inc. and as chairman of Comsat International,
Inc. and iTown Communications, Inc. without breaching any obligations under this Agreement.

	2.	 	REMUNERATION:

          You will be paid at an annual salary of $150,000 per year. Salary payments will be made on a
semi-monthly basis. At the beginning of each calendar year, Mercator, in its sole discretion, will
determine whether to increase your salary.

	3.	 	EQUITY INCENTIVE:

          Upon the commencement of your employment hereunder, you will receive 50,000 restricted shares
under Mercator’s stock plan which will vest, subject to your continuing employment, on the
anniversary dates of grant at 25% per year for four years.

	4.	 	EXPENSES:

          Upon your submission of appropriate documentation or receipts, Mercator shall reimburse you
for any ordinary and necessary business expenses you incur in accordance with Mercator’s guidelines
on business expenses.

	5.	 	BENEFITS:

          Mercator shall provide you with the basic annual leave and benefits that Mercator makes
available to full time employees in general.

	6.	 	TERMINATION:

          Your employment is at-will — that is, just as you may end your relationship with Mercator
at any time and for any reason or no reason at all, Mercator may end its relationship with you at
any time and for any reason or no reason at all.

 

 

	7.	 	CONFIDENTIALITY AND NONCOMPETITION:

          At the time your employment begins under this Agreement, you shall execute a Confidentiality
and Noncompetition Agreement. Such Agreement will in no way contravene your duties toward Mercator
as an officer and fiduciary of the organization. For example, although you may accept other
engagements, such engagements shall in no way interfere with Mercator’s business interests,
business opportunities and/or any other fiduciary obligations you have toward Mercator and its
subsidiaries as an officer or board member of the Company.

	8.	 	ASSIGNMENT:

          This Agreement is not assignable by either party without the written consent of the other;
provided, however, that the provisions of this Agreement shall inure to the benefit of and be
binding upon any successor interest of Mercator, whether by merger, consolidation, or transfer or
all or substantially all of its assets or otherwise.

	9.	 	MISCELLANEOUS:

	 	a.	 	Waiver. The waiver by any party to this Agreement of a breach of any of the provisions of
this Agreement shall not constitute a waiver of any subsequent breach.
	 
	 	b.	 	Severability. The invalidity or unenforceability of any particular provision of this
Agreement shall not affect the other provisions of this Agreement, and this Agreement shall be
construed in all respects as if such invalid or unenforceable provision were omitted. This
Agreement shall be construed according to its fair meaning and not strictly for or against either
party.
	 
	 	c.	 	Governing Law. This Agreement shall be governed by the law of the State of Virginia,
without regard to its conflict of laws provisions. You hereby irrevocably consent to, and waive
any objection to the exercise of, personal jurisdiction by the state court located in Virginia with
respect to any action or proceeding arising out of this Agreement.

 

 

	 	d.	 	Complete Agreement. This letter supersedes any and all prior discussions and understandings, whether written or oral, and represents the complete Agreement between the
parties. Please indicate your acceptance of the terms of this Agreement by signing this letter in
the space provided below and returning it to me as soon as possible.

	 	 	 
	 

	 	Yours truly,
	 

	 	MERCATOR PARTNERS
	 

	 	ACQUISITION CORP.
	 

	 	 
	 

	 	 
	 

	 	 
	 

	 	Rhodric C. Hackman
	 

	 	President

ACCEPTED:

	 	 	 	 	 
	 	 	Signature: /s/ H. Brian Thompson
	 

	 	 	 	 
	 	 	Name (printed): H. Brian Thompson
	 	 	Date: June 15, 2006

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