Document:

Exhibit 10.2

 

LOAN AGREEMENT

 

Date: June 17, 2016

 

For value received, the undersigned Traqer
Corp. (the "Borrower"), at 930 Sylvan Avenue, Englewood Cliffs, NJ 07632, promises to pay to the order of Shlomit C.
Frommer (the "Lender") , at 119 North Livingston Avenue, Livingston NJ 07039 (or at such other place as the Lender may
designate in writing), the sum of $12,000.00 with no interest.

 

The loan was disbursed as follows:

		·	$12,000
                                         on 6/17/2016

 

I. TERMS OF REPAYMENT

 

A. Payments

 

Unpaid principal after the Due Date shown
below shall accrue interest at a rate of 3.5% annually until paid.

 

The unpaid principal shall be payable
in full on December 01, 2018 (the "Due Date").

 

B. Application of Payments

 

All payments on this Note
shall be applied first in payment of accrued interest and any remainder in payment of principal.

 

C. Acceleration of Debt

 

If any payment obligation
under this Note is not paid when due, the remaining unpaid principal balance and any accrued interest shall become due immediately
at the option of the Lender.

 

II. PREPAYMENT

 

The Borrower reserves
the right to prepay this Note (in whole or in part) prior to the Due Date with no prepayment penalty.

 

III. COLLECTION COSTS

 

If any payment obligation under this Note
is not paid when due, the Borrower promises to pay all costs of collection, including reasonable attorney fees, whether or not
a lawsuit is commenced as part of the collection process.

 

IV. DEFAULT

 

If any of the following events of default
occur, this Note and any other obligations of the Borrower to the Lender, shall become due immediately, without demand or notice:

 

1)
the failure of the Borrower to pay the principal and any accrued interest when due;

 

2)
the liquidation, dissolution, incompetency or death of the Borrower;

 

3)
the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4)
the application for the appointment of a receiver for the Borrower;

 

     

     

    

 

5)
the making of a general assignment for the benefit of the Borrower's creditors;

 

6)
the insolvency of the Borrower;

  

7)
a misrepresentation by the Borrower to the Lender for the purpose of obtaining or extending credit; or

 

8)
the sale of a material portion of the business or assets of the Borrower.

 

V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of
this Note are determined to be unenforceable, in whole or in part, for any reason, the remaining provisions shall remain fully
operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest
on this Note shall be paid in the legal currency of the United States. The Borrower waives presentment for payment, protest, and
notice of protest and demand of this Note.

 

No delay in enforcing any right of the
Lender under this Note, or assignment by Lender of this Note, or failure to accelerate the debt evidenced hereby by reason of
default in the payment of a monthly installment or the acceptance of a past-due installment shall be construed as a waiver of
the right of Lender to thereafter insist upon strict compliance with the terms of this Note without notice being given to Borrower.
All rights of the Lender under this Note are cumulative and may be exercised concurrently or consecutively at the Lender's option.

 

This note may not be amended without the written approval of
the holder.

 

VII. GOVERNING LAW

 

This Note shall be construed in accordance with the laws of
the State of Nevada.

 

VIII. SIGNATURES

 

This Note shall be signed by

 

 

Bess
A. Lipschutz, on behalf of Traqer Corp.:  

 

	          	Date: 6/17/2016	 

 

 

Shlomit C. Frommer:

 

		Date: 6/17/2016Exhibit 10.1

 

Execution Version

 

SECOND AMENDMENT TO 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This Second Amendment to Amended and Restated Employment Agreement (this “Amendment”) is effective as of July 2, 2016, by and between Air Methods Corporation, a Delaware corporation (the “Company”) and Michael D. Allen (“Executive”).  Reference is made to that certain Employment Agreement by and between the Company and Executive made as of September 24, 2012, as amended by that certain First Amendment to Amended and Restated Employment Agreement dated as of June 2, 2016 (as amended, the “Employment Agreement”).  All capitalized terms not defined herein shall have the meanings assigned to such terms in the Employment Agreement.  The Company and Executive are referred to in this Amendment collectively as the “Parties.”

 

WHEREAS, the Parties desire to amend certain terms of the Employment Agreement as set forth below.

 

NOW, THEREFORE, in consideration of the promises and mutual covenants and agreements herein contained and intending to be legally bound hereby, the Parties hereby agree as follows:

 

1.             Amendment to Section 1.  Section 1 of the Employment Agreement shall be deleted in its entirety and replaced with the following:

 

“1.           Employment Period. The Company hereby employs Executive, and Executive hereby accepts such employment, upon the terms and conditions hereinafter set forth.  Subject to termination as provided herein, the initial term of Executive’s employment hereunder shall continue through August 31, 2015 (the “Initial Term”).  Upon expiration of the Initial Term and each Renewal Term, this Agreement will automatically renew for subsequent one (1) year terms (each a “Renewal Term”) until such time that Executive’s employment is terminated in accordance with this Agreement. The Initial Term and each subsequent Renewal Term are referred to collectively as the “Employment Period”. Executive and the Company acknowledge that, except as may otherwise be provided by this Agreement or under any other written agreement between Executive and the Company, the employment of Executive by the Company is “at will” and Executive’s employment may be terminated by either Executive or the Company at any time for any reason, or no reason.

 

2.             Amendment to Section 5(a).  Section 5(a) of the Employment Agreement shall be deleted in its entirety and replaced with the following:

 

“(a)         For Cause; Resignation without Good Reason; Death; Disability.  If Executive’s employment is terminated by the Company for Cause or upon the Death or Disability of Executive, or if Executive resigns without Good Reason, this Agreement shall terminate without further obligations to Executive under this Agreement, other than for (A) payment of the sum of (1) Executive’s Annual Base Salary through the date of termination to the extent not theretofore paid, and 

 

 

(2) any accrued vacation pay, in each case to the extent not theretofore paid (the sum of the amounts described in clauses (1) and (2) shall be hereinafter referred to as the “Accrued Obligations”), which Accrued Obligations shall be paid to Executive or Executive’s estate or beneficiary, as applicable, in a lump sum in cash within thirty (30) days of the effective date of termination; and (B) payment to Executive or Executive’s estate or beneficiary, as applicable, of any amounts due pursuant to the terms of any applicable employee benefit plans.”

 

3.             Amendment to Section 5(c).  The introductory language of Section 5(c) of the Employment Agreement shall be deleted in its entirety and replaced with the following:

 

“(c)         By the Company without Cause or by Executive for Good Reason. If the Company terminates Executive’s employment for any reason other than for Cause or Executive terminates Executive’s employment for Good Reason (in either case other than in a Change in Control Termination), this Agreement shall terminate without further obligations to Executive other than:”

 

4.             Amendment to Section 5(f).  Section 5(f) of the Employment Agreement shall be deleted in its entirety and replaced with the following:

 

“(f)          Survival of Certain Obligations Following Termination.  Notwithstanding any other provision contained in this Agreement, the provisions in Sections 6 through 23 of this Agreement, including without limitation, the covenant not to compete contained in Section 7, shall survive any termination of this Agreement or Executive’s employment hereunder (but shall be subject to Executive’s right to receive the payments and benefits provided under this Section 5).”

 

5.             No Other Changes.  Except as modified or supplemented by this Amendment, the Employment Agreement remains unmodified and in full force and effect.

 

6.             Miscellaneous.

 

(a)           Governing Law.  This Amendment and the legal relations hereby created between the parties hereto shall be governed by and construed under and in accordance with the internal laws of the State of Colorado, without regard to conflicts of laws principles thereof.  Each party shall submit to the venue and personal jurisdiction of the Colorado state and federal courts concerning any dispute for which judicial redress is permitted pursuant to this Agreement; however the Company is not limited in seeking relief in those courts.

 

(b)           Binding Effect.  This Amendment is intended to bind and inure to the benefit of and be enforceable by Executive, the Company and their respective heirs, successors and assigns, except that Executive may not assign Executive’s rights or delegate Executive’s obligations hereunder without the prior written consent of the Company.

 

(c)           Counterparts.  This Amendment may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

 

 

(d)           Savings Clause.  If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this Amendment or the Employment Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Amendment or the Employment Agreement are declared to be severable.

 

[Signature page follows.]

 

 

IN WITNESS WHEREOF, the Parties hereto have caused this Second Amendment to Amended and Restated Employment Agreement to be executed as of the date first above written.

 

 

	
 
    	
AIR   METHODS CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Aaron D. Todd
    
	
 
    	
Name:
    	
Aaron   D. Todd
    
	
 
    	
Title:
    	
Chief   Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
EXECUTIVE:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Michael D. Allen
    
	
 
    	
Michael   D. Allen

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