Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (“Agreement”) is made and
entered into as of November 20, 2007 by and between Mike H.P. Kwon (“Kwon”) and Axesstel, Inc., a Nevada corporation (“Axesstel”), with respect to the following facts: 
 A. Axesstel wishes to employ Kwon as Chief Executive Officer of Axesstel, and Kwon wishes to be employed as Chief Executive Officer of Axesstel.

 B. Axesstel and Kwon wish to set forth in this Agreement the terms and conditions under which Kwon is to be employed by Axesstel.

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, Axesstel and
Kwon hereby agree as follows: 
 1. Employment 
 1.1 Title. Axesstel hereby employs Kwon as Chief Executive Officer of Axesstel. 
 1.2 Duties. For so long as he is employed hereunder, Kwon (i) shall devote his full professional time and attention, best
efforts, energy and skills to the services required of him as an employee of Axesstel, except for paid time off taken in accordance with Axesstel’s policies and practices and subject to Axesstel’s existing policies pertaining to reasonable
periods of absence due to sickness, personal injury or other disability and outside activities authorized under Section 2.1 below; (ii) shall use his best efforts to promote the interests of Axesstel; (iii) shall serve as a member of
the Board of Directors if and when elected to do so; (iv) shall comply with all applicable governmental laws, rules and regulations and with all of Axesstel’s policies, rules and/or regulations applicable to the employees of Axesstel; and
(v) shall discharge his responsibilities in a diligent and faithful manner, consistent with sound business practices and in accordance with the directives of the Board of Directors of Axesstel. Kwon shall report directly to Axesstel’s
Board of Directors and shall actively participate in the preparation and presentation to the Board of Directors of all reports regarding the business, operations and prospects of Axesstel. Kwon’s primary responsibilities during his employment
with Axesstel shall be to (a) manage all of Axesstel’s day-to-day operations; and (b) perform any other duties assigned to him by Axesstel’s Board of Directors. 
 1.3 At Will Employment. Kwon’s employment under this Agreement shall be “at will”. The employment
relationship between Axesstel and Kwon may be terminated by Kwon or by Axesstel at any time, with or without cause. 
 1.4
Location. Kwon acknowledges that Axesstel’s principal executive offices are located in San Diego, California. Kwon’s principal place of employment shall be Axesstel’s principal executive offices. Kwon agrees that he will be
regularly present at Axesstel’s principal executive offices. Kwon acknowledges that he may be required to travel from time to time in the course of performing his duties. 

 1.5 Life Insurance. If requested by Axesstel to do so, Kwon will cooperate with
Axesstel’s efforts to procure a term life insurance policy on Kwon. 
 2. Outside Activities 
 2.1 Outside Activities. During the period of his employment, Kwon may serve on boards of directors (or similar body) of other
business entities, or provide advisory and other services thereto; provided, that such activities do not interfere with the effective discharge of his duties and responsibilities to Axesstel, the nature of such service is disclosed to the Board of
Directors of Axesstel and the Board consents to Kwon’s rendering such service, which consent shall not be unreasonably withheld or delayed. During the period of his employment, Kwon may also participate in outside business ventures provided
that such participation does not conflict with Axesstel’s ongoing business operations or present a conflict of interest with Kwon’s duties and responsibilities to Axesstel. 
 2.2 Investment. Nothing in this Article 2 shall be construed as preventing Kwon from engaging in the investment of his personal
assets so long as such investment activity does not require: (1) any participation on Kwon’s part in the operation or the affairs of the enterprise or enterprises in which such investments are made or (2) the rendering of any services
by Kwon to any such enterprise. 
 3. Compensation 
 3.1 Base Salary. Axesstel shall pay Kwon an annual base salary of Two Hundred Thousand Dollars ($200,000) less applicable
withholding taxes (“Base Salary”). Base Salary payments will be made to Kwon in accordance with Axesstel’s pay period practices. 
 3.2 Performance Compensation. During the period of his employment, Kwon shall be eligible to receive performance based compensation in such amounts and for obtaining such targets as may be established in the
discretion of the Board of Directors. 
 3.3 Adjustment. Kwon’s Base Salary and Performance Bonus shall be subject
to annual increases on or about the anniversary of this Agreement. Increases, if any, shall be at the sole discretion of the Board of Directors of Axesstel. 
 4. Benefits. During his employment, Kwon shall accrue and be entitled to take paid vacation in accordance with Axesstel’s vacation policies in effect from time to time, including Axesstel’s
policies regarding vacation accruals; provided that Kwon’s rate of vacation accrual during the Period of Employment shall be no less than three (3) weeks per year. Notwithstanding the foregoing, Kwon shall cease to accrue further vacation
at any time that Kwon has an unused vacation accrual of four (4) weeks. Kwon shall also be entitled to all other holiday and leave pay generally available to other executives of Axesstel. During his employment, Kwon shall be entitled to
participate in all employee benefit, group health and life insurance, retirement, 401(k) and other benefit plans of Axesstel under the terms and conditions of such plan or programs. 
 5. Business Expenses. Upon presentation of appropriate documentation, Axesstel shall reimburse Kwon for reasonable, out-of-pocket business
expenses incurred by Kwon in the course of his performance of his duties hereunder. Kwon will submit monthly expense reports for approval by the Board of Directors or Chief Financial Officer of Axesstel. 
  

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 6. Former Employment 
 6.1 No Conflict. Kwon represents and warrants that the execution and delivery by him of this Agreement, his employment by Axesstel
and his performance of duties under this Agreement will not conflict with and will not be constrained by any prior employment or consulting agreement or relationship, or any other contractual obligations. 
 6.2 No Use of Prior Confidential Information. Kwon will not intentionally disclose to Axesstel or use on its behalf any
confidential information belonging to any of his former employers, but during his employment by Axesstel he will use in the performance of his duties all information (but only such information) which is generally known and used by persons with
training and experience comparable to his own or is common knowledge in the industry or otherwise legally in the public domain. 
 7.
Non-Solicitation; Confidentiality; Remedies 
 7.1 No Solicitation. During the Restricted Period (as defined
below), neither Kwon nor any Executive-Controlled Person (as defined below) will, without the prior written consent of Axesstel’s Board of Directors, directly or indirectly solicit for employment, or make an unsolicited recommendation to any
other person that it employs or solicit for employment any person who is or was, at any time during the Restricted Period, an officer, executive, employee, agent or representative of Axesstel or of any affiliate of Axesstel. As used in this
Agreement, the term “Executive-Controlled Person” shall mean any company, partnership, firm or other entity as to which Kwon possesses, directly or indirectly, the power to direct or cause the direction of the management and
policies of such entity, whether through the ownership of voting securities, by contract or otherwise. 
 7.2
Confidentiality. 
 7.2.1 Kwon acknowledges that, as a result of his status as Chief Executive Officer of Axesstel, he
has, or will have, access to and possession of important confidential information and knowledge as to the business of Axesstel and its affiliates, including, hut not limited to knowledge of products of Axesstel and its affiliates, patents,
technology, know-how, marketing and operating strategies, licensing and other agreements, financial results and projections, future plans, the provisions of other important contracts entered into by Axesstel and its affiliates, possible acquisitions
and similar information. Kwon agrees that such knowledge and information constitutes a vital part of the business of Axesstel and are by their nature trade secrets and confidential information proprietary to Axesstel (collectively
“Confidential Information”). Kwon agrees that he shall not divulge, communicate, furnish or make accessible (whether orally or in writing or in books, articles or any other medium) to any individual, firm, partnership or
corporation, any Confidential Information without the consent of Axesstel’s Board of Directors. As used in this Agreement, the term, “Confidential Information” shall not include any knowledge or information that Kwon can demonstrate:
(i) is or becomes available to others, other than as a result of breach by Kwon of this Article 7; (ii) was available to Kwon on a nonconfidential basis prior to its disclosure to Kwon through his status as an officer or employee of
Axesstel; or (iii) becomes available to Kwon on a nonconfidential basis from a third party (other than Axesstel, its affiliates and any of their representatives) who is not 

  

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bound by any confidentiality obligations to Axesstel or any of its affiliates. Kwon understands and agrees that he must also execute and fully comply with
Axesstel’s Employee Innovations and Proprietary Rights Assignment Agreement in the form attached hereto as Exhibit A as a condition of his employment. 
 7.2.2 All memoranda, notes, lists, records and other documents or papers (and all copies thereof), including such items stored in computer
memories, on microfiche or by any other means, made or compiled by or on behalf of Kwon or made available to him relating to Axesstel or any of its affiliates are and shall remain Axesstel’s property, and shall be delivered to Axesstel promptly
upon any termination of Kwon’s employment with Axesstel, or at any other time on request, and such information shall be held confidential by Kwon after any termination of’ his employment with Axesstel. 
 7.3 No Competition During Employment. During the term of this Agreement, neither Kwon nor any Executive-Controlled Person will,
without the prior written consent of Axesstel’s Board of Directors, render any services, directly or indirectly, as an employee, officer, consultant or in any other capacity, to any individual, firm, corporation or partnership engaged in any
business or activity which directly competes with the business activities of Axesstel. 
 7.4 Restricted Period. As
used in this Agreement, “Restricted Period” shall mean any period during which Kwon is employed by Axesstel and a period of two (2) years after the Termination Date. 
 7.5 Remedies. Kwon agrees that the provisions of’ this Article 7 are reasonable and necessary for the protection of Axesstel
and that they may not be adequately enforced by an action for damages. Therefore, in the event of a breach or threatened breach of this Article 7 by Kwon or any Executive-Controlled Person, Axesstel shall be entitled, in addition to all other
remedies, to an injunction and/or restraining order enjoining the breach or threatened breach of the provisions of Article 7 or otherwise to enforce specifically such provisions against violation, without the necessity of posting any bond or other
security by Axesstel. Kwon further agrees that if he shall violate any of the covenants and agreements under this Article 7, Axesstel shall be entitled to an accounting and repayment of all profits, commissions or other benefits which Kwon has
realized and/or may realize as a result of or arising out of any such violation. Such remedy shall be cumulative and not exclusive and in addition to any injunctive relief or other legal or equitable remedy to which Axesstel is or may be entitled.
In addition, the prevailing party shall also he entitled to its reasonable attorneys’ fees and costs incurred in any action in which it is successful in establishing or defending against an alleged violation of Article 7. 
 7.6 Severability. The provisions contained in this Article 7 as to the time periods, scope of activities and persons or entities
affected shall be deemed severable so that, if any provision contained in this Article 7 is determined to be invalid or unenforceable, such provisions shall be deemed modified so as to be valid and enforceable to the full extent permitted by law.

  

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 8. Impact on Prior Agreements 
 8.1 Consulting Agreement. Upon execution of this Agreement that certain Consulting Agreement dated October 1, 2007 between
Axesstel and Kwon shall be terminated by mutual consent. 
 8.2 Separation Agreement and General Release. Upon
execution of this Agreement the provisions of Section 1 of that certain Separation Agreement and General Release dated October 1, 2007 between Axesstel and Kwon shall be amended to provide that the remaining $270,000 owed by Axesstel to
Kwon shall be paid in three equal monthly installments on the last day of each month commencing in January 2008. 
 9. General
Provisions 
 9.1 Governing Law. This Agreement and the rights of the parties thereunder shall be governed by
and interpreted under California law. 
 9.2 Assignment. Kwon may not delegate, assign, pledge or encumber his rights
or obligations under this Agreement or any part thereof. 
 9.3 Notice. Any notice required or permitted to be given
under this Agreement shall be sufficient if it is in writing and is sent by registered or certified mail, postage prepaid, or personally delivered, to the following addresses, or to such other addresses as either party shall specify by giving notice
under this Article 8.1: 
  

			
	 To Axesstel:
	 	Axesstel, Inc.
		 	6815 Flanders Drive, Suite 210
		 	San Diego, CA 92121
		 	Attn: Chairman
		 	T: (858) 625-2100
		 	F: (858) 625-2110
		
	 With a copy to:
	 	James A. Mercer III, Esq.
		 	Duane Morris LLP
		 	101 W. Broadway, Suite 900
		 	San Diego, CA 92101
		 	T: (619) 744-2209
		 	F: (619) 744-2201
		 	Email: jamercer@duanemorris.com
		
	 To Kwon:
	 	Mike H.P. Kwon
		 	 
		 	 
		
	 With a copy to:
	 	 
		 	 
		 	 
		 	 
		 	T:                                      
                                        
                      
		 	F:                                      
                                        
                      
		 	Email:                                     
                                        
       

  

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 9.4 Entire Agreement. This Agreement (and its Exhibits) constitutes the entire
agreement between the parties pertaining to the subject matter hereof and completely supersedes all prior or contemporaneous agreements, understandings, arrangements, commitments, negotiations and discussions of the parties, whether oral or written
(all of which shall have no substantive significance or evidentiary effect). Each party acknowledges, represents and warrants that this Agreement is fully integrated and not in need of parol evidence in order to reflect the intentions of the
parties. 
 9.5 Amendment. This Agreement may be waived, amended or supplemented only by a writing signed by both of
the parties hereto. 
 9.6 Waiver. No waiver of any provision of’ this Agreement shall be binding unless and until
set forth expressly in writing and signed by the waiving party. The waiver by either party of’ a breach of’ any provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach of the same or
any other term or provision, or a waiver of any contemporaneous breach of any other term or provision, or a continuing waiver of’ the same or any other term or provision. No failure or delay by a party in exercising any right, power, or
privilege hereunder or other conduct by a party shall operate as a waiver thereof in the particular case or in any past or future case, and no single or partial exercise thereof shall preclude the full exercise or further exercise of any right,
power or privilege. No action taken pursuant to this Agreement shall be deemed to constitute a waiver by the party taking such action of compliance with any representations, warranties, covenants or agreements contained herein. 
 9.7 Severability. All provisions contained herein are severable and in the event that any of them shall be held to be to any extent
invalid or otherwise unenforceable by any court of competent jurisdiction, such provision shall be interpreted, construed or rewritten so as to effectuate to the greatest possible extent the parties’ expressed intent; and in every case the
remainder of this Agreement shall not be affected thereby and shall remain valid and enforceable, as if such affected provision were not contained herein, 
 9.8 Construction. Article and section headings are inserted herein for convenience of reference only and in no way are to be construed to define, limit or affect the construction or interpretation of the terms
of this Agreement. The provisions of this Agreement have been prepared, examined, negotiated and revised by each party hereto, and no implication shall be drawn and no provision shall be construed against either party by virtue of the purported
identity of the drafter of this Agreement, or any portion thereof. 
 9.9 Arbitration. The parties agree that any and
all disputes that they have with one another which arise out of Kwon’s employment or under the terms of this Agreement shall be resolved through final and binding arbitration, as specified herein. This shall include, without limitation,
disputes relating to this Agreement, Kwon’s employment by Axesstel or the forfeiture 

  

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of the restricted stock granted to Kwon, claims for breach of contract or breach of the covenant of good faith and fair dealing, and any claims of
discrimination or other claims under any federal, state or local law or regulation now in existence or hereinafter enacted and as amended from time to time concerning in any way the subject of Kwon’s employment with Axesstel or its termination.
The only claims not covered by this Section 9.9 are (i) claims for benefits under the workers’ compensation laws or claims for unemployment insurance benefits, which will be resolved pursuant to those laws, and
(ii) Axesstel’s claims for Kwon’s alleged breach of any of the provisions of Article 7 of this Agreement. Binding arbitration will he conducted in San Diego County, California, in accordance with the American Arbitration
Association’s National Rules for the Resolution of Employment Disputes then in effect. The party initiating the arbitration shall bear the cost of the arbitration filing. Axesstel will bear the cost of any hearing fees and the arbitrator. Each
party will bear its own attorneys’ fees, unless otherwise permitted by law and so determined by the arbitrator. Kwon understands and agrees that the arbitration shall be instead of any civil litigation and that the arbitrator’s decision
shall be final and binding to the fullest extent permitted by law and enforceable by any court having jurisdiction thereof. 
 This Agreement is executed this 20 day of November, 2007. 
  

									
		 		 	AXESSTEL, INC., a Nevada corporation
				
	/s/ Mike H.P. Kwon	 		 	By:	 	/s/ Patrick Gray
	Mike H.P. Kwon	 		 	Its:	 	Chief Financial Officer

  

 7Separation Agreement and General Release

 Exhibit 10.3 
 SEPARATION AGREEMENT AND GENERAL RELEASE 
 This Separation Agreement and General Release
(“Agreement”) is made and entered into as of November 20, 2007 by and between Marv Tseu (“Tseu”) and Axesstel, Inc., a Nevada corporation (“Axesstel”), with respect to the following facts:

 A. Tseu has served as a director and Chief Executive Officer of Axesstel pursuant to the terms of an Employment Agreement with Axesstel,
effective May 16, 2006 (“Employment Agreement”), and has voluntarily resigned as a director and as Chief Executive Officer as of the date of this Agreement. 
 B. In this Agreement, Tseu and Axesstel desire to formally document: (i) the terms of Tseu’s separation from Axesstel;
(ii) Axesstel’s and Tseu’s mutual releases of claims against each other. 
 NOW, THEREFORE, for and in consideration of the
execution of this Agreement within the time frame provided for herein, and the mutual covenants contained in the following paragraphs, Axesstel and Tseu agree as follows: 
 1. Wages and Vacation Time Paid. Tseu acknowledges that, upon receipt of his final paycheck in the estimated amount of $20,833.33, he will have been paid for all of his wages and his accrued and
unused vacation time through the date of this Agreement, his last day of work. 
 2. Separation Payment. As
consideration of the releases contained herein, Axesstel shall pay to Tseu the sum of Two Hundred Eighty-One Thousand Two Hundred Fifty Dollars ($281,250) which shall be paid as follows: (i) Axesstel will use commercially reasonable efforts to pay
Tseu 75% of that sum (the “75% Payment”) within 7 days of Axesstel’s receipt of any proceeds from its financing of the $1.5 million letter of credit issued with respect to the account of XL Telecom, and in any event, Axesstel will pay
Tseu the 75% Payment no later than December 31, 2007, and (ii) Axesstel will pay Tseu the 25% balance of that sum on or before December 31, 2007. 
 3. Reimbursement of Expenses. In addition to the separation payment above, Axesstel agrees to reimburse Tseu for (i) any outstanding business expenses incurred by Tseu, (ii) Tseu’s
actual and reasonable legal expenses associated with negotiation and execution of this Agreement, (iii) the actual lease termination fees (estimated at $2,800) for the termination of the lease on Tseu’s apartment in San Diego, and
(iv) for actual and reasonable fees to ship Tseu’s personal belongings to his home in San Francisco. Reimbursement shall be made within 15 days of submission of receipts for the relevant expense. 
 4. Stock Option. The parties agree that pursuant to that certain Stock Option Agreement between Tseu and Axesstel of May 16, 2007 (the
“Option Agreement”), Tseu is vested in 350,000 of the 700,000 shares of Axesstel stock that are subject to that agreement. The parties further agree that the Option Agreement is hereby amended so that Tseu may exercise his right to
purchase any of his vested shares of stock that are subject to the Option Agreement on or before June 30, 2008. Except as modified by this Section 4, Tseu’s rights under the Option Agreement will continue as stated therein.

  

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 5. General Releases. Axesstel and Tseu for themselves, their heirs, executors,
administrators, assigns and successors, current, former and future parents, subsidiaries, related entities, fiduciaries, predecessors, successors, officers, directors, shareholders, agents, employees and assigns fully and forever release and
discharge each other and their heirs, executors, administrators, assigns and successors, current, former and future parents, subsidiaries, related entities, employee benefit plans and their fiduciaries, predecessors, successors, officers, directors,
shareholders, agents, employees and assigns (collectively, “Releasees”), with respect to any and all claims, liabilities and causes of action, of every nature, kind and description, in law, equity or otherwise, which have arisen,
occurred or existed at any time prior to the signing of this Agreement, including, without limitation, any and all claims, liabilities and causes of action arising out of or relating to Tseu’s employment with Axesstel prior to the date of this
Agreement, any prior employment agreement between the two parties and any prior separation agreement between the two parties. Notwithstanding the foregoing, nothing in this Agreement shall be deemed to constitute a waiver or release of Tseu’s
rights to indemnification pursuant to the terms of the Indemnification Agreement between Axesstel and Tseu dated as of May 16, 2006, Tseu’s statutory indemnity rights (including, but not limited to, those arising under California Labor
Code section 2802), any claims arising out of Axesstel’s breach of this Agreement, or any other claims which may arise after the date of execution of this Agreement. 
 6. Knowing Waiver of Employment-Related Claims. Tseu understands and agrees that, with the exception of potential employment-related claims identified below, he is waiving any and all rights he
may have had or now has to pursue against any of the Releasees any and all remedies available to him under any employment-related causes of action, including without limitation, claims of wrongful discharge, breach of contract, breach of the
covenant of good faith and fair dealing, fraud, violation of public policy, defamation, discrimination, personal injury, physical injury, emotional distress, claims under Title VII of the Civil Rights Act of 1964, as amended, the Americans With
Disabilities Act, the Federal Rehabilitation Act, the California Fair Employment and Housing Act, the California Family Rights Act, the Equal Pay Act of 1963, the provisions of the California Labor Code and any other federal, state or local laws and
regulations relating to employment, conditions of employment (including wage and hour laws), perquisites of employment (including but not limited to claims relating to stock and/or stock options) and/or employment discrimination. Claims not covered
by the release provisions of this Agreement are (i) claims for unemployment insurance benefits, (ii) claims under the California Workers’ Compensation Act, and (iii) claims for unpaid wages or indemnity under the California Labor
Code, (iv) claims arising from Axesstel’s nonperformance under this Agreement and (v) any challenge to the validity of Tseu’s release of claims under the Age Discrimination in Employment Act of 1967, as amended,
(“ADEA”) as set forth in paragraph 6 below. Tseu expressly waives any right to recovery of any type, including damages and reinstatement, in any administrative or court action, whether state or federal, and whether brought by him or
on his behalf, related in any way to the matters released herein. 
 7. Knowing Waiver of ADEA Claims. Tseu acknowledges
that he is knowingly and voluntarily waiving and releasing any rights he may have under the federal Age Discrimination in Employment Act of 1967, as amended. He also acknowledges that the consideration given for this waiver and release is in
addition to anything of value to which he was already was entitled. Tseu further acknowledges that he has been advised by this writing, as required by law, that: (a) his waiver and release specified in this paragraph 

  

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do not apply to any rights or claims that may arise after the date he signs this Agreement or to any challenge to the validity of this waiver of ADEA claims;
(b) he has been advised hereby that he has the right to consult with an attorney prior to executing this Agreement; (c) he has twenty one (21) days to consider this Agreement (although he may choose to voluntarily execute this
Agreement earlier); (d) he has seven (7) days following his execution of this Agreement to revoke the Agreement (in writing); and (e) this Agreement will not be effective until the date upon which the revocation period has expired,
which will be the eighth (8th) day after this Agreement is executed by Tseu. 
 8. Waiver of Civil Code §
1542. Axesstel and Tseu expressly waive any and all rights and benefits conferred upon them by Section 1542 of the Civil Code of the State of California, which states as follows: 
 “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing
the release, which if known by him or her must have materially affected his or her settlement with the debtor.” 
 Axesstel and Tseu expressly agree
and understand that the release given by them pursuant to this Agreement applies to all unknown, unsuspected and unanticipated claims, liabilities and causes of action which they may have against each other or any of the other Releasees. 

9. Severability of Release Provisions. Axesstel and Tseu agree that if any provision of the release given by them under this
Agreement is found to be unenforceable, it will not affect the enforceability of the remaining provisions and the courts may enforce all remaining provisions to the extent permitted by law. 
 10. Representation Regarding Legal Actions. Axesstel and Tseu represent that, as of the date of this Agreement, they have not filed
any lawsuits, charges, complaints, petitions, claims or other accusatory pleadings against each other or the other Releasees in any court or with any governmental agency. Except for claims preserved by law or expressly by this Agreement, Axesstel
and Tseu promise they will never sue each other or any of the other Releasees, or otherwise institute or participate in any legal or administrative proceedings against each other or any of the other Releasees, with respect to any claim covered by
the release provisions of this Agreement, unless they are compelled by legal process to do so. Axesstel and Tseu promise and agree that they shall not advocate or incite the institution of, or assist or participate in, any suit, complaint, charge or
administrative proceeding by any other person against each other or any of the other Releasees, unless compelled by legal process to do so. 
 11. Promise to Maintain Confidentiality of Axesstel’s Confidential Information. Tseu acknowledges that due to the position he has occupied and the responsibilities he has had at Axesstel, he has received
confidential information concerning Axesstel’s products, procedures, customers, sales, prices, contracts, and the like. Tseu hereby promises and agrees that, unless compelled by legal process, he will not disclose to others and will keep
confidential all confidential information he has received while employed by Axesstel concerning Axesstel’s products and procedures, the identities of Axesstel’s customers, Axesstel’s sales, Axesstel’s prices, the terms of any of
Axesstel’s contracts with third parties, and the like. Tseu agrees that a material violation by him of the foregoing 

  

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obligation to maintain the confidentiality of Axesstel’s confidential information will constitute a material breach of this Agreement. Tseu specifically
confirms that he will continue to comply with the terms of the Employee Innovations and Proprietary Rights Assignment Agreement dated as of May 16, 2006 and executed by Tseu and Axesstel. 
 12. Integrated Agreement. The parties acknowledge and agree that no promises or representations were made to them which do not
appear written herein and that this Agreement, along with the other agreements referred to herein, contains the entire agreement of the parties on the subject matter thereof. The parties further acknowledge and agree that parole evidence shall not
be required to interpret the intent of the parties. 
 13. Voluntary Execution. The parties hereby acknowledge that they
have read and understand this Agreement and that they sign this Agreement voluntarily and without coercion. 
 14. Waiver,
Amendment and Modification of Agreement. The parties agree that no waiver, amendment or modification of any of the terms of this Agreement shall be effective unless in writing and signed by all parties affected by the waiver, amendment or
modification. No waiver of any term, condition or default of any term of this Agreement shall be construed as a waiver of any other term, condition or default. 
 15. Representation by Counsel. The parties acknowledge that they have had the opportunity to be represented in negotiations for the preparation of this Agreement by counsel of their own choosing,
and that they have entered into this Agreement voluntarily, without coercion, and based upon their own judgment and not in reliance upon any representations or promises made by the other party or parties or any attorneys, other than those contained
within this Agreement. The parties further agree that if any of the facts or matters upon which they now rely in making this Agreement hereafter prove to be otherwise, this Agreement will nonetheless remain in full force and effect. 
 16. California Law. The parties agree that this Agreement and its terms shall be construed under California law, without regard to
any choice of law provisions. 
 17. Drafting. The parties agree that this Agreement shall be construed without regard
to the drafter of the same and shall be construed as though each party to this Agreement participated equally in the preparation and drafting of this Agreement. 
 18. Counterparts. This Agreement may be signed in counterparts and said counterparts shall be treated as though signed as one document. 
 19. Period to Consider Terms of Agreement. Tseu acknowledges that this Agreement was presented to him on November 20, 2007, and that
he is entitled to have up to twenty-one (21) days’ time in which to consider the terms of this Agreement. Tseu acknowledges that he has obtained the advice and counsel from the legal representative of his choice and executes this Agreement
having had sufficient time within which to consider its terms. Tseu represents that if he executes this Agreement before 21 days have elapsed, he does so voluntarily, upon the advice and with the approval of his legal counsel, and that he
voluntarily waives any remaining consideration period. Tseu understands that if not executed on or before December 11, 2007, this Agreement shall expire and may not be executed thereafter. 
  

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 20. Revocation of Agreement. Tseu understands that after executing this Agreement,
he has the right to revoke it within seven (7) days after his execution of it. Tseu understands that this Agreement will not become effective and enforceable unless the seven-day revocation period passes and Tseu does not revoke the Agreement
in writing. Tseu understands that this Agreement may not be revoked after the seven-day revocation period has passed. Tseu understands that any revocation of this Agreement must be made in writing and delivered to Axesstel’s General Counsel
within the seven-day period. 
 21. Attorneys’ Fees. In the event of any legal action relating to or arising
out of this Agreement, the prevailing party shall be entitled to recover from the losing party its reasonable costs and attorneys’ fees. 
 22. Effective Date. This Agreement shall become effective and binding upon the parties eight (8) days after Tseu’s execution thereof, so long as he has not revoked it within the time period and in the manner
specified in paragraph 20, above. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth below. 

 

							
	Dated:	 	November 20, 2007	 		 	/s/ Marv Tseu
		 		 		 	Marv Tseu

  

											
		 		 		 	AXESSTEL, INC.
						
	Dated:	 	November 20, 2007	 		 		 	By:	 	/s/ Patrick Gray

  

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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00133-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00133-of-00352.parquet"}]]