Document:

ex10_1.htm

    
      

    

    Exhibit
      10.1

     

    SECOND
      AMENDED AND RESTATED EMPLOYMENT AGREEMENT

    (Nick
      VandenBrekel)

    

    This
      AMENDED AND RESTATED EMPLOYMENT
      AGREEMENT (this “Agreement”) is made effective as of the 1st day of February,
      2008 (the “Effective Date”) by and between NICHOLAS VANDENBREKEL, an individual
      (“Employee”) and SEQUIAM CORPORATION AND SUBSIDIARIES a California corporation
      (“Sequiam”); with reference to the following recitals:

    

    A.           
      Employee is employed by Sequiam, pursuant to an amended and restated employment
      agreement dated October 1, 2002 (the “Sequiam Agreement”).

    

    B.           
      Employee and Sequiam agree that is in the best interest of the parties to amend
      and restate the employment agreement with Sequiam.

    

    NOW,
      THEREFORE, in consideration of the
      foregoing, the mutual covenants and agreements set forth herein, and other
      good
      and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, each of Employee and Sequiam hereby agree as follows:

    

    1.           
      Employment.  Sequiam
      hereby employs Employee and hereby affirms, renews and extends the employment
      of
      Employee as the President and Chief Executive Officer of Sequiam and Employee
      hereby affirms, renews and accepts such employment, for the “Term” (as defined
      in Section 3 below), upon the terms and conditions set forth herein. This
      Agreement constitutes an amendment and restatement of Sequiam Agreement in
      its
      entirety, and as of the Effective Date hereof, the terms, conditions and other
      provisions of this Agreement shall supersede all terms, conditions and other
      provisions of the Sequiam Agreement.

    

    2.           
      Duties.  During
      the Term, Employee shall serve Sequiam faithfully, diligently and to the best
      of
      his ability, under the direction of the Board of Directors of
      Sequiam.  Employee shall render such services during the Term at the
      Corporation’s principal place of business, as Sequiam may from time to time
      reasonably require of him, and shall devote that portion of his business time
      as
      defined in Section 5 below to the performance thereof.  Employee shall
      have those duties and powers as generally pertain to the respective office,
      subject to the control of the Board of Directors of Sequiam.  The
      precise services and duties that Employee is obligated to perform hereunder
      may
      from time to time be changed, amended, extended or curtailed by the Board of
      Directors of Sequiam.

    

    3.           
      Term.  The
“Term” of this Agreement
      shall commence on the Effective Date and continue
      thereafter for a term of two (2) years, as may be extended or earlier terminated
      pursuant to the terms and conditions of this Agreement.  The Term of
      this Agreement shall automatically renew for successive one (1) year periods
      unless, within sixty (60) days of the expiration of the then existing Term,
      Sequiam or Employee provides written notice to the other party that it elects
      not to renew the Term.  Upon delivery of such notice, this Agreement
      shall continue until expiration of the Term, whereupon this Agreement shall
      terminate.

    

    4.           
      Compensation.

    

    4.1           
      Salary.  Sequiam
      shall pay to Employee a total minimum annual salary of Two Hundred Thousand
      Dollars ($200,000) (the “Minimum Salary”), payable in equal installments at the
      end of such regular payroll accounting periods as are established by the
      Corporation, or in such other installments upon which the parties hereto shall
      mutually agree.  The Minimum Salary shall be paid to Employee by the
      Corporation, subject to the terms set out below.  In addition, Sequiam
      may pay additional salary from time to time, and award bonuses in cash, stock
      or
      stock options or other property and services, as Sequiam may determine in its
      sole discretion or pursuant to separate agreements with
      Employee.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.2           
      Benefits.  During
      the Term, Employee shall be entitled to participate in all medical and other
      employee benefit plans, including vacation, sick leave, retirement accounts,
      profit sharing, stock option plans, stock appreciation rights, and other
      employee benefits, provided by  Sequiam to employees similarly
      situated.

    

    4.3           
      Expense
      Reimbursement.  Sequiam shall reimburse Employee for reasonable
      and necessary expenses incurred by him on behalf of Sequiam in the performance
      of his duties hereunder during the Term, provided that such expenses are
      adequately documented in accordance with Sequiam’s then customary
      policies.  Additionally, Sequiam shall collectively pay Employee a
      total of One Thousand Dollars ($1,000) per month as an automobile
      allowance.

    

    5.           
      Other
      Employment.  Employee shall devote as much of his business and
      professional time and effort, attention, knowledge, and skill to the management,
      supervision and direction of Sequiam’s business and affairs as is necessary to
      ensure the success of Sequiam as determined solely by
      Employee.  Employee may, during the term hereof, be interested
      directly or indirectly, in any manner, as partner, officer, director,
      stockholder, advisor, employee or in any other capacity in any other business;
      and nothing herein contained shall prevent or limit the right of Employee to
      invest any of his surplus funds in the capital stock or other securities of
      any
      corporation, company or limited partnership, or whose stock or securities are
      publicly owned or are regularly traded on any public exchange; nor shall
      anything herein contained prevent Employee from investing or limit Employee’s
      right to invest his surplus funds in real estate; nor shall anything herein
      contained prevent Employee from serving in a volunteer capacity as officer,
      director, or advisor for professional organizations with which he is
      affiliated.   Sequiam hereby acknowledges and agrees that
      Employee may, in good faith, use his discretion in resolving any conflicts
      between the Related Companies, and Employee shall be entitled to rely upon
      the
      direction of the Corporation and the Corporation's Board of Directors to resolve
      any such conflicts of interest.   Sequiam hereby waives any claim
      against Employee that may arise as the result of such Employee's service to
      any
      other Sequiam, including, without limitation, any breach of fiduciary duty
      to
      Sequiam as a result of any conflict of interest, lost business opportunity
      or
      unfair business practices.

    

    6.           
      Indemnification.

    

    6.1           
      Third Party
      Actions.  Sequiam hereby indemnifies Employee in the event that
      Employee is a party, or is threatened to be made a party, to any proceeding
      (other than an proceeding by or in the right of any Sequiam to procure a
      judgment in  Sequiam’s favor) by reason of Employee’s status as an
      officer, director, agent or employee of  Sequiam, against expenses,
      judgments, fines, settlements, and other amounts actually and reasonably
      incurred in connection with such proceeding if Employee acted in good faith
      and
      in a manner that Employee reasonably believed to be in  Sequiam’s best
      interests and, in the case of a criminal proceeding, Employee had no reasonable
      cause to believe Employee’s conduct was unlawful.  The termination of
      any proceeding by judgment, order, settlement, conviction, or upon a plea of
      nolo contendere or its equivalent shall not, of itself, create any presumption
      that (a) Employee did not act in good faith or in a manner which Employee
      reasonably believed to be in Sequiam’s best interests or (b) Employee had no
      reasonable cause to believe that Employee’s conduct was
      unlawful.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6.2           
      Successful Defense
      By
      Employee.  To the extent that Employee has been successful on
      the merits in defense of any proceeding referred to in Sections 6.1, or in
      defense of any claim, issue, or matter therein, Sequiam shall indemnify Employee
      against expenses actually and reasonably incurred by Employee in connection
      therewith.

    

    6.3           
      Advances.  Expenses
      incurred in defending any proceeding shall be advanced by the Related Companies
      before the final disposition of such proceeding upon receipt of an undertaking
      by or on behalf of Employee to repay such amounts if it shall be determined
      ultimately that Employee is not entitled to be indemnified as authorized in
      this
      Section 7.

    

    6.4           
      Other Contractual
      Rights.  The indemnification provided by this Section 6 shall
      be deemed cumulative, and not exclusive, of any other rights to which Employee
      may be entitled under any bylaw, agreement, vote of shareholders or
      disinterested directors, or otherwise, both as to action in an official capacity
      and as to action in another capacity while holding such
      office.  Nothing in this section shall affect any right to
      indemnification to which Employee may be entitled by contract or
      otherwise.

    

    6.5           
      Insurance.  To
      the extent available at commercially reasonable rates and limits, Sequiam shall
      collectively purchase and maintain insurance on behalf of Employee insuring
      against any liability asserted against or incurred by Employee in any capacity
      or arising out of Employee’s status as such, whether or not Sequiam has the
      power to indemnify Employee against that liability under the provisions of
      this
      Section 6.

    

    6.6           
      Survival.  The
      rights provided by this Section 6 shall survive the expiration or earlier
      termination of this Agreement pursuant hereto and shall inure to the benefit
      of
      Employee’ heirs, executors, and administrators.

    

    6.7           
      Amendment.  Any
      amendment, repeal, or modification of Sequiam's articles or bylaws shall not
      adversely affect Employee’s right or protection existing at the time of such
      amendment, repeal, or modification.

    

    6.8           
      Settlements.  Sequiam
      shall not be liable to indemnify Employee under this Section 6 for (i) any
      amounts paid in settlement of any action or claim effected without Sequiam’s
      written consent, which consent shall not be unreasonably withheld, or (ii)
      any
      judicial award, if Sequiam was not given a reasonable and timely opportunity
      to
      participate, at Sequiam’s expense, in the defense of such action.

    

    6.9           
      Subrogation.  In
      the event of payment under this Section 6, Sequiam shall be subrogated to the
      extent of such payment to all Employee’s rights of recovery; and Employee shall
      execute all papers required and shall do everything necessary or appropriate
      to
      secure such rights, including the execution of any documents necessary or
      appropriate to Sequiam effectively bringing suit to enforce such
      rights.

    

    6.10           
      No Duplication Of
      Payments.  Sequiam shall not be liable under this Section 6 to
      make any payment in connection with any claim made against Employee to the
      extent Employee has otherwise actually received payment, whether under a policy
      of insurance, agreement, vote, or otherwise, of any amount which is otherwise
      subject to indemnification under this Section 6.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6.11           
      Proceedings And
      Expenses. For the purposes of this Section 6, “proceeding” means any
      threatened, pending, or completed action or proceeding, whether civil, criminal,
      administrative, or investigative; and “expenses” includes, without limitation,
      attorney fees and any expenses of establishing a right to indemnification under
      this Section 6.

    

    7.           
      Confidential
      Information/ Inventions.

    

    7.1           
      Employee shall not, in any manner, for any reasons, either directly or
      indirectly, divulge or communicate to any person, firm or corporation, any
      confidential information concerning any matters not generally known in Sequiam's
      industry or otherwise made public by Sequiam which affects or relates to
      Sequiam's business, finances, marketing and/ or operations, research,
      development, inventions, products, designs, plans, procedures, or other data
      (collectively, “Confidential Information”) except in the ordinary course of
      business or as required by applicable law.  Without regard to whether
      any item of Confidential Information is deemed or considered confidential,
      material, or important, the parties hereto stipulate that as between them,
      to
      the extent such item is not generally known in the Sequiam's industry, such
      item
      is important, material, and confidential and affects the successful conduct
      of
      Sequiam’s business and good will, and that any breach of the terms of this
      Section 7.1 shall be a material and incurable breach of this
      Agreement.

    

    7.2           
      Employee further agrees that all documents and materials furnished to Employee
      by Sequiam and relating to Sequiam’s business or prospective business are and
      shall remain the exclusive property of Sequiam as the case may
      be.  Employee shall deliver all such documents and materials to
      Sequiam upon demand therefore and in any event upon expiration or earlier
      termination of this Agreement.  Any payment of sums due and owing to
      Employee by Sequiam upon such expiration or earlier termination shall be
      conditioned upon returning all such documents and materials, and Employee
      expressly authorizes Sequiam to withhold any payments due and owing pending
      return of such documents and materials.

    

    7.3           
      All ideas, inventions, and other developments or improvements conceived or
      reduced to practice by Employee, alone or with others, during the term of this
      Agreement, whether or not during working hours, that are within the scope of
      the
      business of Sequiam or that relate to or result from any of Sequiam's work
      or
      projects or the services provided by Employee to Sequiam pursuant to this
      Agreement, shall be the exclusive property of Sequiam. Employee agrees to assist
      Sequiam during the term, at Sequiam’s expense, to obtain patents and copyrights
      on any such ideas, inventions, writings, and other developments, and agrees
      to
      execute all documents necessary to obtain such patents and copyrights in the
      name of Sequiam.

    

    8.           
      Covenant Not to
      Compete.  Except as expressly permitted in Section 5 above,
      during the term of this Agreement, Employee shall not engage in any of the
      following competitive activities: (a) engaging directly or indirectly in
      any business or activity substantially similar to any business or activity
      engaged in by  Sequiam as of the date of this Agreement;
      (b) soliciting or taking away any employee, agent, representative,
      contractor, supplier, vendor, customer, franchisee, lender or investor
      of   Sequiam, or attempting to so solicit or take away; (c)
      interfering with any contractual or other relationship
      between   Sequiam and any employee, agent, representative,
      contractor, supplier, vendor, customer, franchisee, lender or investor; or
      (d)
      using, for the benefit of any person or entity other
      than   Sequiam, any Confidential Information of
      Sequiam.  The foregoing covenant prohibiting competitive activities
      shall survive the termination of this Agreement and shall extend, and shall
      remain enforceable against Employee, for the period of one (1) year following
      the date this Agreement is terminated.  In addition, during the
      two-year period following such expiration or earlier termination, Employee
      shall
      not make or permit the making of any negative statement of any kind concerning
      Sequiam.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    9.           
      Survival.  Employee
      agrees that the provisions of Sections 7 and 8 shall survive expiration or
      earlier termination of this Agreement for any reasons, whether voluntary or
      involuntary, with or without cause, and shall remain in full force and effect
      thereafter.

    

    10.           
      Injunctive
      Relief.  Employee acknowledges and agrees that the covenants
      and obligations of Employee set forth in Sections 7 and 8 with respect to
      non-competition, non-solicitation, confidentiality and the Sequiam's property
      relate to special, unique and extraordinary matters and that a violation of
      any
      of the terms of such covenants and obligations will cause Sequiam irreparable
      injury for which adequate remedies are not available at
      law.  Therefore, Employee agrees that the Related Companies shall be
      entitled to an injunction, restraining order or such other equitable relief
      (without the requirement to post bond) as a court of competent jurisdiction
      may
      deem necessary or appropriate to restrain Employee from committing any violation
      of the covenants and obligations referred to in this Section
      10.  These injunctive remedies are cumulative and in addition to any
      other rights and remedies the Related Companies may have at law or in
      equity.

    

    11.           
      Termination

    

    11.1           
      Termination by
      Employee.  Employee may terminate this Agreement without cause
      at any time and for any reason upon thirty (30) days notice to
      Sequiam.  For purposes of this Agreement, the term “cause” for
      termination by Employee shall be (a) a material breach by  Sequiam of
      any material covenant or obligation hereunder; or (b) the voluntary or
      involuntary dissolution of  Sequiam.  The written notice
      given hereunder by Employee to Sequiam shall specify in reasonable detail the
      cause for termination, and, in the case of the cause described in (a) above,
      such termination notice shall not be effective until thirty (30) days after
      Sequiam’s receipt of such notice, during which time Sequiam shall have the right
      to respond to Employee’s notice and cure the breach or other event giving rise
      to the termination.

    

    11.2           
      Termination by
      Sequiam.  Sequiam may terminate its employment of Employee
      under this Agreement without cause at any time and for any reason upon thirty
      (30) days notice to Employee.  Sequiam may terminate its employment of
      Employee under this Agreement for cause at any time by written notice to
      Employee.  For purposes of this Agreement, the term “cause” for
      termination by Sequiam shall be (a) a conviction of or plea of guilty or nolo contendere by Employee
      to a felony; (b) the consistent refusal by Employee to perform his material
      duties and obligations hereunder; or (c) Employee’s willful and intentional
      misconduct in the performance of his material duties and obligations as set
      forth from time to time in the employee manual.  The written notice
      given hereunder by Sequiam to Employee shall specify in reasonable detail the
      cause for termination.  In the case of a termination for the cause
      described in (a) above, such termination shall be effective upon receipt of
      the
      written notice.  In the case of the causes described in (b) and (c)
      above, such termination notice shall not be effective until thirty (30) days
      after Employee’s receipt of such notice, during which time Employee shall have
      the right to respond to  Sequiam's notice and cure the breach or other
      event giving rise to the termination.

    

    11.3           
      Severance.  Upon
      a termination of this Agreement without cause by Employee or with cause by
      Sequiam, Sequiam shall immediately pay to Employee all accrued and unpaid
      compensation as of the date of such termination.  Upon a termination
      of this Agreement with cause by Employee or without cause by Sequiam, Sequiam
      shall immediately pay to Employee all accrued and unpaid compensation as of
      the
      date of such termination. The accrued compensation due and payable at
      termination shall bear interest at the lesser of eight percent (8%) per annum
      or
      the maximum rate permitted by law until such amounts are paid in full. The
      “Severance Payment” shall equal the total amount of salary payable to Employee
      under Section 4.1 of this Agreement from the date of such termination until
      six
      months after termination payable in equal installments at the end of such
      regular payroll accounting periods as are established by the Corporation, or
      in
      such other installments upon which the parties hereto shall mutually
      agree.  Any unvested stock options then held by the Executive will
      vest immediately and options held by the Executive, or his estate, will remain
      exercisable for three (3) years from the date of the Executive’s death or
      termination due to Disability, but in no event later than the expiration date
      of
      the option.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    12.           
      Termination Upon
      Death.  If Employee dies during the term of this Agreement,
      this Agreement shall terminate, except that Employee’s legal representatives
      shall be entitled to receive any earned but unpaid compensation due hereunder.
      Any unvested stock options then held by the Executive will vest immediately
      and
      options held by the Executive, or his estate, will remain exercisable for three
      (3) years from the date of the Executive’s death or termination due to
      Disability, but in no event later than the expiration date of the
      option.

    

    13.           
      Termination Upon
      Disability.  If, during the term of this Agreement, Employee
      suffers and continues to suffer from a “Disability” (as defined below),
      then  Sequiam may terminate this Agreement by delivering to Employee
      sixty (60) calendar days prior written notice of termination based on such
      Disability, setting forth with specificity the nature of such Disability and
      the
      determination of Disability by Sequiam.  For the purposes of this
      Agreement, “Disability” means Employee’s inability, with reasonable
      accommodation, to substantially perform Employee’s duties, services and
      obligations under this Agreement due to physical or mental illness or other
      disability for a continuous, uninterrupted period of ninety (90) calendar days.
      Any unvested stock options then held by the Executive will vest immediately
      and
      options held by the Executive, or his estate, will remain exercisable for three
      (3) years from the date of the Executive’s death or termination due to
      Disability, but in no event later than the expiration date of the
      option.

    

    14.           
      Personnel Policies,
      Conditions, And Benefits.  Except as otherwise provided herein,
      Employee’s employment shall be subject to the personnel policies and benefit
      plans which apply generally to Sequiam's employees as the same may be
      interpreted, adopted, revised or deleted from time to time, during the term
      of
      this Agreement, by  Sequiam in its sole discretion.  During
      the term hereof, Employee shall receive the following:

    

    14.1           
      Vacation.  Employee
      shall be entitled to vacation during each year of the term at the rate of five
      (5) weeks per year; provided that no vacation shall accrue from year to year
      during the term.

    

    15.           
      Beneficiaries of
      Agreement.  This Agreement shall inure to the benefit of
      Sequiam and any affiliates, successors, assigns, parent corporations,
      subsidiaries, and/or purchasers of Sequiam as they now or shall exist while
      this
      Agreement is in effect.

    

    16.           
      No
      Waiver.  No failure by either party to declare a default based
      on any breach by the other party of any obligation under this Agreement, or
      failure of such party to act quickly with regard thereto, shall be considered
      to
      be a waiver of any such obligation, or of any future breach.

    

    17.           
      Modification.  No
      waiver or modification of this Agreement or of any covenant, condition, or
      limitation herein contained shall be valid unless in writing and duly executed
      by the parties to be charged therewith.

    

    18.           
      Choice Of
      Law/Jurisdiction.  This Agreement shall be governed by and
      construed in accordance with the laws of the State of Florida, without regard
      to
      any conflict-of-laws principles.   Sequiam and Employee hereby
      consent to personal jurisdiction before all courts in the County of Orange,
      State of Florida, and hereby acknowledge and agree that Orange County, Florida
      is and shall be the most proper forum to bring a complaint before a court of
      law.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    19.           
      Entire
      Agreement.  This Agreement embodies the whole agreement between
      the parties hereto and there are no inducements, promises, terms, conditions,
      or
      obligations made or entered into by Sequiam or Employee other than contained
      herein.

    

    20.           
      Severability.  All
      agreements and covenants contained herein are severable, and in the event any
      of
      them, with the exception of those contained in Sections 1 and 4 hereof, shall
      be
      held to be invalid by any competent court, this Agreement shall be interpreted
      as if such invalid agreements or covenants were not contained
      herein.

    

    21.           
      Headings.  The
      headings contained herein are for the convenience of reference and are not
      to be
      used in interpreting this Agreement.

    

    

    IN
      WITNESS WHEREOF, this Agreement has
      been duly exe­cuted by the parties hereto as of the date first above
      written.

    

    SEQUIAM
      CORPORATION AND SUBSIDIARIES, a California corporation

    

    

    
      	
              By:

            	 	 	 
	 	
              Bob
                Aoki, Chairman of the Compensation Committee of the Board of
                Directors

            	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
              By:

            	 	 	 
	 	
              Jake
                Smith, Member of the Compensation Committee of the Board of
                Directors

            	 

    

    

    

    “Employee”

    

    

    
      	 	 	 

    

    NICHOLAS
      VANDENBREKEL, an
      individualex10_2.htm

    
      
        

      

    

    Exhibit
      10.2

     

    SECOND
      AMENDED AND RESTATED EMPLOYMENT AGREEMENT

    (Mark
      Mroczkowski)

    

    This
      AMENDED AND RESTATED EMPLOYMENT
      AGREEMENT (this “Agreement”) is made effective as of the 1st day of February,
      2008 (the “Effective Date”) by and between MARK  L. MROCZKOWSKI, an
      individual (“Employee”) and SEQUIAM CORPORATION AND SUBSIDIARIES a California
      corporation (“Sequiam”); with reference to the following recitals:

    

    A.           
      Employee is employed by Sequiam, pursuant to an amended and restated employment
      agreement dated October 1, 2002 (the “Sequiam Agreement”).

    

    B.           
      Employee and Sequiam agree that is in the best interest of the parties to amend
      and restate the employment agreement with Sequiam.

    

    NOW,
      THEREFORE, in consideration of the
      foregoing, the mutual covenants and agreements set forth herein, and other
      good
      and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, each of Employee and Sequiam hereby agree as follows:

    

    1.          
        Employment.  Sequiam
      hereby employs Employee and hereby affirms, renews and extends the employment
      of
      Employee as the Executive Vice President and Chief Financial Officer of Sequiam
      and Employee hereby affirms, renews and accepts such employment, for the “Term”
(as defined in Section 3 below), upon the terms and conditions set forth herein.
      This Agreement constitutes an amendment and restatement of Sequiam Agreement
      in
      its entirety, and as of the Effective Date hereof, the terms, conditions and
      other provisions of this Agreement shall supersede all terms, conditions and
      other provisions of the Sequiam Agreement.

    

    2.          
        Duties.  During
      the Term, Employee shall serve Sequiam faithfully, diligently and to the best
      of
      his ability, under the direction of the Board of Directors of
      Sequiam.  Employee shall render such services during the Term at the
      Corporation’s principal place of business, as Sequiam may from time to time
      reasonably require of him, and shall devote that portion of his business time
      as
      defined in Section 5 below to the performance thereof.  Employee shall
      have those duties and powers as generally pertain to the respective office,
      subject to the control of the Board of Directors of Sequiam.  The
      precise services and duties that Employee is obligated to perform hereunder
      may
      from time to time be changed, amended, extended or curtailed by the Board of
      Directors of Sequiam.

    

    3.           
      Term.  The
“Term” of this Agreement
      shall commence on the Effective Date and continue
      thereafter for a term of two (2) years, as may be extended or earlier terminated
      pursuant to the terms and conditions of this Agreement.  The Term of
      this Agreement shall automatically renew for successive one (1) year periods
      unless, within sixty (60) days of the expiration of the then existing Term,
      Sequiam or Employee provides written notice to the other party that it elects
      not to renew the Term.  Upon delivery of such notice, this Agreement
      shall continue until expiration of the Term, whereupon this Agreement shall
      terminate.

    

    4.           
       Compensation.

    

    4.1           
      Salary.  Sequiam
      shall pay to Employee a total minimum annual salary of One Hundred and Ninety
      Thousand Dollars ($190,000) (the “Minimum Salary”), payable in equal
      installments at the end of such regular payroll accounting periods as are
      established by the Corporation, or in such other installments upon which the
      parties hereto shall mutually agree.  The Minimum Salary shall be paid
      to Employee by the Corporation, subject to the terms set out
      below.  In addition, Sequiam may pay additional salary from time to
      time, and award bonuses in cash, stock or stock options or other property and
      services, as Sequiam may determine in its sole discretion or pursuant to
      separate agreements with Employee.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.2           
      Benefits.  During
      the Term, Employee shall be entitled to participate in all medical and other
      employee benefit plans, including vacation, sick leave, retirement accounts,
      profit sharing, stock option plans, stock appreciation rights, and other
      employee benefits, provided by  Sequiam to employees similarly
      situated.

    

    4.3           
      Expense
      Reimbursement.  Sequiam shall reimburse Employee for reasonable
      and necessary expenses incurred by him on behalf of Sequiam in the performance
      of his duties hereunder during the Term, provided that such expenses are
      adequately documented in accordance with Sequiam’s then customary
      policies.  Additionally, Sequiam shall collectively pay Employee a
      total of One Thousand Dollars ($1,000) per month as an automobile
      allowance.

    

    5.           
      Other
      Employment.  Employee shall devote as much of his business and
      professional time and effort, attention, knowledge, and skill to the management,
      supervision and direction of Sequiam’s business and affairs as is necessary to
      ensure the success of Sequiam as determined solely by
      Employee.  Employee may, during the term hereof, be interested
      directly or indirectly, in any manner, as partner, officer, director,
      stockholder, advisor, employee or in any other capacity in any other business;
      and nothing herein contained shall prevent or limit the right of Employee to
      invest any of his surplus funds in the capital stock or other securities of
      any
      corporation, company or limited partnership, or whose stock or securities are
      publicly owned or are regularly traded on any public exchange; nor shall
      anything herein contained prevent Employee from investing or limit Employee’s
      right to invest his surplus funds in real estate; nor shall anything herein
      contained prevent Employee from serving in a volunteer capacity as officer,
      director, or advisor for professional organizations with which he is
      affiliated.   Sequiam hereby acknowledges and agrees that
      Employee may, in good faith, use his discretion in resolving any conflicts
      between the Related Companies, and Employee shall be entitled to rely upon
      the
      direction of the Corporation and the Corporation's Board of Directors to resolve
      any such conflicts of interest.   Sequiam hereby waives any claim
      against Employee that may arise as the result of such Employee's service to
      any
      other Sequiam, including, without limitation, any breach of fiduciary duty
      to
      Sequiam as a result of any conflict of interest, lost business opportunity
      or
      unfair business practices.

    

    6.          
        Indemnification.

    

    6.1           
      Third Party
      Actions.  Sequiam hereby indemnifies Employee in the event that
      Employee is a party, or is threatened to be made a party, to any proceeding
      (other than an proceeding by or in the right of any Sequiam to procure a
      judgment in  Sequiam’s favor) by reason of Employee’s status as an
      officer, director, agent or employee of  Sequiam, against expenses,
      judgments, fines, settlements, and other amounts actually and reasonably
      incurred in connection with such proceeding if Employee acted in good faith
      and
      in a manner that Employee reasonably believed to be in  Sequiam’s best
      interests and, in the case of a criminal proceeding, Employee had no reasonable
      cause to believe Employee’s conduct was unlawful.  The termination of
      any proceeding by judgment, order, settlement, conviction, or upon a plea of
      nolo contendere or its equivalent shall not, of itself, create any presumption
      that (a) Employee did not act in good faith or in a manner which Employee
      reasonably believed to be in Sequiam’s best interests or (b) Employee had no
      reasonable cause to believe that Employee’s conduct was
      unlawful.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6.2           
      Successful Defense
      By
      Employee.  To the extent that Employee has been successful on
      the merits in defense of any proceeding referred to in Sections 6.1, or in
      defense of any claim, issue, or matter therein, Sequiam shall indemnify Employee
      against expenses actually and reasonably incurred by Employee in connection
      therewith.

    

    

    6.3           
      Advances.  Expenses
      incurred in defending any proceeding shall be advanced by the Related Companies
      before the final disposition of such proceeding upon receipt of an undertaking
      by or on behalf of Employee to repay such amounts if it shall be determined
      ultimately that Employee is not entitled to be indemnified as authorized in
      this
      Section 7.

    

    6.4           
      Other Contractual
      Rights.  The indemnification provided by this Section 6 shall
      be deemed cumulative, and not exclusive, of any other rights to which Employee
      may be entitled under any bylaw, agreement, vote of shareholders or
      disinterested directors, or otherwise, both as to action in an official capacity
      and as to action in another capacity while holding such
      office.  Nothing in this section shall affect any right to
      indemnification to which Employee may be entitled by contract or
      otherwise.

    

    6.5           
      Insurance.  To
      the extent available at commercially reasonable rates and limits, Sequiam shall
      collectively purchase and maintain insurance on behalf of Employee insuring
      against any liability asserted against or incurred by Employee in any capacity
      or arising out of Employee’s status as such, whether or not Sequiam has the
      power to indemnify Employee against that liability under the provisions of
      this
      Section 6.

    

    6.6           
      Survival.  The
      rights provided by this Section 6 shall survive the expiration or earlier
      termination of this Agreement pursuant hereto and shall inure to the benefit
      of
      Employee’ heirs, executors, and administrators.

    

    6.7           
      Amendment.  Any
      amendment, repeal, or modification of Sequiam's articles or bylaws shall not
      adversely affect Employee’s right or protection existing at the time of such
      amendment, repeal, or modification.

    

    6.8           
      Settlements.  Sequiam
      shall not be liable to indemnify Employee under this Section 6 for (i) any
      amounts paid in settlement of any action or claim effected without Sequiam’s
      written consent, which consent shall not be unreasonably withheld, or (ii)
      any
      judicial award, if Sequiam was not given a reasonable and timely opportunity
      to
      participate, at Sequiam’s expense, in the defense of such action.

    

    6.9           
      Subrogation.  In
      the event of payment under this Section 6, Sequiam shall be subrogated to the
      extent of such payment to all Employee’s rights of recovery; and Employee shall
      execute all papers required and shall do everything necessary or appropriate
      to
      secure such rights, including the execution of any documents necessary or
      appropriate to Sequiam effectively bringing suit to enforce such
      rights.

    

    6.10          No
      Duplication Of
      Payments.  Sequiam shall not be liable under this Section 6 to
      make any payment in connection with any claim made against Employee to the
      extent Employee has otherwise actually received payment, whether under a policy
      of insurance, agreement, vote, or otherwise, of any amount which is otherwise
      subject to indemnification under this Section 6.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6.11          Proceedings
      And
      Expenses. For the purposes of this Section 6, “proceeding” means any
      threatened, pending, or completed action or proceeding, whether civil, criminal,
      administrative, or investigative; and “expenses” includes, without limitation,
      attorney fees and any expenses of establishing a right to indemnification under
      this Section 6.

    

    7.           
      Confidential
      Information/ Inventions.

    

    7.1           
      Employee shall not, in any manner, for any reasons, either directly or
      indirectly, divulge or communicate to any person, firm or corporation, any
      confidential information concerning any matters not generally known in Sequiam's
      industry or otherwise made public by Sequiam which affects or relates to
      Sequiam's business, finances, marketing and/ or operations, research,
      development, inventions, products, designs, plans, procedures, or other data
      (collectively, “Confidential Information”) except in the ordinary course of
      business or as required by applicable law.  Without regard to whether
      any item of Confidential Information is deemed or considered confidential,
      material, or important, the parties hereto stipulate that as between them,
      to
      the extent such item is not generally known in the Sequiam's industry, such
      item
      is important, material, and confidential and affects the successful conduct
      of
      Sequiam’s business and good will, and that any breach of the terms of this
      Section 7.1 shall be a material and incurable breach of this
      Agreement.

    

    7.2           
      Employee further agrees that all documents and materials furnished to Employee
      by Sequiam and relating to Sequiam’s business or prospective business are and
      shall remain the exclusive property of Sequiam as the case may
      be.  Employee shall deliver all such documents and materials to
      Sequiam upon demand therefore and in any event upon expiration or earlier
      termination of this Agreement.  Any payment of sums due and owing to
      Employee by Sequiam upon such expiration or earlier termination shall be
      conditioned upon returning all such documents and materials, and Employee
      expressly authorizes Sequiam to withhold any payments due and owing pending
      return of such documents and materials.

    

    7.3           
      All ideas, inventions, and other developments or improvements conceived or
      reduced to practice by Employee, alone or with others, during the term of this
      Agreement, whether or not during working hours, that are within the scope of
      the
      business of Sequiam or that relate to or result from any of Sequiam's work
      or
      projects or the services provided by Employee to Sequiam pursuant to this
      Agreement, shall be the exclusive property of Sequiam. Employee agrees to assist
      Sequiam during the term, at Sequiam’s expense, to obtain patents and copyrights
      on any such ideas, inventions, writings, and other developments, and agrees
      to
      execute all documents necessary to obtain such patents and copyrights in the
      name of Sequiam.

    

    8.           
      Covenant Not to
      Compete.  Except as expressly permitted in Section 5 above,
      during the term of this Agreement, Employee shall not engage in any of the
      following competitive activities: (a) engaging directly or indirectly in
      any business or activity substantially similar to any business or activity
      engaged in by  Sequiam as of the date of this Agreement;
      (b) soliciting or taking away any employee, agent, representative,
      contractor, supplier, vendor, customer, franchisee, lender or investor
      of   Sequiam, or attempting to so solicit or take away; (c)
      interfering with any contractual or other relationship
      between   Sequiam and any employee, agent, representative,
      contractor, supplier, vendor, customer, franchisee, lender or investor; or
      (d)
      using, for the benefit of any person or entity other
      than   Sequiam, any Confidential Information of
      Sequiam.  The foregoing covenant prohibiting competitive activities
      shall survive the termination of this Agreement and shall extend, and shall
      remain enforceable against Employee, for the period of one (1) year following
      the date this Agreement is terminated.  In addition, during the
      two-year period following such expiration or earlier termination, Employee
      shall
      not make or permit the making of any negative statement of any kind concerning
      Sequiam.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    9.          
        Survival.  Employee
      agrees that the provisions of Sections 7 and 8 shall survive expiration or
      earlier termination of this Agreement for any reasons, whether voluntary or
      involuntary, with or without cause, and shall remain in full force and effect
      thereafter.

    

    10.           
      Injunctive
      Relief.  Employee acknowledges and agrees that the covenants
      and obligations of Employee set forth in Sections 7 and 8 with respect to
      non-competition, non-solicitation, confidentiality and the Sequiam's property
      relate to special, unique and extraordinary matters and that a violation of
      any
      of the terms of such covenants and obligations will cause Sequiam irreparable
      injury for which adequate remedies are not available at
      law.  Therefore, Employee agrees that the Related Companies shall be
      entitled to an injunction, restraining order or such other equitable relief
      (without the requirement to post bond) as a court of competent jurisdiction
      may
      deem necessary or appropriate to restrain Employee from committing any violation
      of the covenants and obligations referred to in this Section
      10.  These injunctive remedies are cumulative and in addition to any
      other rights and remedies the Related Companies may have at law or in
      equity.

    

    11.           
      Termination

    

    11.1          Termination
      by
      Employee.  Employee may terminate this Agreement without cause
      at any time and for any reason upon thirty (30) days notice to
      Sequiam.  For purposes of this Agreement, the term “cause” for
      termination by Employee shall be (a) a material breach by  Sequiam of
      any material covenant or obligation hereunder; or (b) the voluntary or
      involuntary dissolution of  Sequiam.  The written notice
      given hereunder by Employee to Sequiam shall specify in reasonable detail the
      cause for termination, and, in the case of the cause described in (a) above,
      such termination notice shall not be effective until thirty (30) days after
      Sequiam’s receipt of such notice, during which time Sequiam shall have the right
      to respond to Employee’s notice and cure the breach or other event giving rise
      to the termination.

    

    11.2          Termination
      by
      Sequiam.  Sequiam may terminate its employment of Employee
      under this Agreement without cause at any time and for any reason upon thirty
      (30) days notice to Employee.  Sequiam may terminate its employment of
      Employee under this Agreement for cause at any time by written notice to
      Employee.  For purposes of this Agreement, the term “cause” for
      termination by Sequiam shall be (a) a conviction of or plea of guilty or nolo contendere by Employee
      to a felony; (b) the consistent refusal by Employee to perform his material
      duties and obligations hereunder; or (c) Employee’s willful and intentional
      misconduct in the performance of his material duties and obligations as set
      forth from time to time in the employee manual.  The written notice
      given hereunder by Sequiam to Employee shall specify in reasonable detail the
      cause for termination.  In the case of a termination for the cause
      described in (a) above, such termination shall be effective upon receipt of
      the
      written notice.  In the case of the causes described in (b) and (c)
      above, such termination notice shall not be effective until thirty (30) days
      after Employee’s receipt of such notice, during which time Employee shall have
      the right to respond to  Sequiam's notice and cure the breach or other
      event giving rise to the termination.

    

    11.3          Severance.  Upon
      a termination of this Agreement without cause by Employee or with cause by
      Sequiam, Sequiam shall immediately pay to Employee all accrued and unpaid
      compensation as of the date of such termination.  Upon a termination
      of this Agreement with cause by Employee or without cause by Sequiam, Sequiam
      shall immediately pay to Employee all accrued and unpaid compensation as of
      the
      date of such termination. The accrued compensation due and payable at
      termination shall bear interest at the lesser of eight percent (8%) per annum
      or
      the maximum rate permitted by law until such amounts are paid in full. The
      “Severance Payment” shall equal the total amount of salary payable to Employee
      under Section 4.1 of this Agreement from the date of such termination until
      six
      months after termination payable in equal installments at the end of such
      regular payroll accounting periods as are established by the Corporation, or
      in
      such other installments upon which the parties hereto shall mutually
      agree.  Any unvested stock options then held by the Executive will
      vest immediately and options held by the Executive, or his estate, will remain
      exercisable for three (3) years from the date of the Executive’s death or
      termination due to Disability, but in no event later than the expiration date
      of
      the option.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    12.           Termination
      Upon
      Death.  If Employee dies during the term of this Agreement,
      this Agreement shall terminate, except that Employee’s legal representatives
      shall be entitled to receive any earned but unpaid compensation due hereunder.
      Any unvested stock options then held by the Executive will vest immediately
      and
      options held by the Executive, or his estate, will remain exercisable for three
      (3) years from the date of the Executive’s death or termination due to
      Disability, but in no event later than the expiration date of the
      option.

    

    14.           Termination
      Upon
      Disability.  If, during the term of this Agreement, Employee
      suffers and continues to suffer from a “Disability” (as defined below),
      then  Sequiam may terminate this Agreement by delivering to Employee
      sixty (60) calendar days prior written notice of termination based on such
      Disability, setting forth with specificity the nature of such Disability and
      the
      determination of Disability by Sequiam.  For the purposes of this
      Agreement, “Disability” means Employee’s inability, with reasonable
      accommodation, to substantially perform Employee’s duties, services and
      obligations under this Agreement due to physical or mental illness or other
      disability for a continuous, uninterrupted period of ninety (90) calendar days.
      Any unvested stock options then held by the Executive will vest immediately
      and
      options held by the Executive, or his estate, will remain exercisable for three
      (3) years from the date of the Executive’s death or termination due to
      Disability, but in no event later than the expiration date of the
      option.

    

    14.           Personnel
      Policies,
      Conditions, And Benefits.  Except as otherwise provided herein,
      Employee’s employment shall be subject to the personnel policies and benefit
      plans which apply generally to Sequiam's employees as the same may be
      interpreted, adopted, revised or deleted from time to time, during the term
      of
      this Agreement, by  Sequiam in its sole discretion.  During
      the term hereof, Employee shall receive the following:

    

    14.1          Vacation.  Employee
      shall be entitled to vacation during each year of the term at the rate of five
      (5) weeks per year; provided that no vacation shall accrue from year to year
      during the term.

    

    15.           
      Beneficiaries of
      Agreement.  This Agreement shall inure to the benefit of
      Sequiam and any affiliates, successors, assigns, parent corporations,
      subsidiaries, and/or purchasers of Sequiam as they now or shall exist while
      this
      Agreement is in effect.

    

    16.           
      No
      Waiver.  No failure by either party to declare a default based
      on any breach by the other party of any obligation under this Agreement, or
      failure of such party to act quickly with regard thereto, shall be considered
      to
      be a waiver of any such obligation, or of any future breach.

    

    17.           
      Modification.  No
      waiver or modification of this Agreement or of any covenant, condition, or
      limitation herein contained shall be valid unless in writing and duly executed
      by the parties to be charged therewith.

    

    18.           
      Choice Of
      Law/Jurisdiction.  This Agreement shall be governed by and
      construed in accordance with the laws of the State of Florida, without regard
      to
      any conflict-of-laws principles.   Sequiam and Employee hereby
      consent to personal jurisdiction before all courts in the County of Orange,
      State of Florida, and hereby acknowledge and agree that Orange County, Florida
      is and shall be the most proper forum to bring a complaint before a court of
      law.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    19.           
      Entire
      Agreement.  This Agreement embodies the whole agreement between
      the parties hereto and there are no inducements, promises, terms, conditions,
      or
      obligations made or entered into by Sequiam or Employee other than contained
      herein.

    

    20.           
      Severability.  All
      agreements and covenants contained herein are severable, and in the event any
      of
      them, with the exception of those contained in Sections 1 and 4 hereof, shall
      be
      held to be invalid by any competent court, this Agreement shall be interpreted
      as if such invalid agreements or covenants were not contained
      herein.

    

    21.           
      Headings.  The
      headings contained herein are for the convenience of reference and are not
      to be
      used in interpreting this Agreement.

    

    

    IN
      WITNESS WHEREOF, this Agreement has been duly exe­cuted by the parties
      hereto as of the date first above written.

    

    SEQUIAM
      CORPORATION AND SUBSIDIARIES, a California corporation

    

    
      	
              By:

            	 	 	 
	 	
              Bob
                Aoki, Chairman of the Compensation Committee of the Board of
                Directors

            	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
              By:

            	 	 	 
	 	
              Jake
                Smith, Member of the Compensation Committee of the Board of
                Directors

            	 

    

    

    

    “Employee”

    

    

    
      	 	 
	
              MARK
                L. MROCZKOWSKI, an
                individual

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