UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
14A INFORMATION
Proxy
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Exchange
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Soliciting
Material Pursuant to §240.14a-12
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LIVE CURRENT MEDIA,
INC.
(Name of
the Registrant as Specified In Its Charter)
DAVID
JEFFS
JOHN DA
COSTA
CARL
JACKSON
SUSAN
JEFFS
CAMERON
PAN
ADAM
RABINER
AMIR
VAHABZADEH
(Name(s)
of Person(s) Filing Proxy Statement, if other than the Registrant)
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Glenn
& Glenn
124
Main Street
Suite
8
New
Paltz NY 12561
October
5, 2010
David L.
Orlic
Special
Counsel
Office of
Mergers and Acquisitions
Securities
and Exchange Commission
Washington
DC 20549
Re: Live
Current Media Inc.
Definitive
Additional Materials
Filed on
October1, 2010 by David Jeffs, et. al.
File No.
000-29929.
Dear Mr.
Orlic:
We
enclose herewith as exhibit A supplemental materials that document the assertion
that the registrant was named one of the top 20 fastest-growing companies in
Canada in 2006 and 2007.
We
enclose as exhibit B the employment agreement of Mr. Melville, section 3.4 of
which describes the bonuses we claim.
We
enclose as exhibit C the press release that the registrant issued announcing the
Indian cricket venture, which clearly describes an obligation of $5 million per
year for 10 years.
The quote
in the second paragraph of Hampson’s History comes directly from section 2.2 of
his employment agreement, which he signed, and is attached as exhibit
D. Further to this item, we note that at the time he executed this
employment agreement, the Form 8-K filed by the registrant on June 5, 2007,
included a biography for Mr. Hampson that contained the following
language:
C. Geoffrey Hampson (50 years old) is a
co-owner of Techvibes.com and has been the CEO and President of PEER 1 Network
Enterprises, Inc. from 2001 to 2006.
Mr. Hampson does not hold a directorship
in any other reporting company, with the exception of the
following:
Mr. Hampson has been a director of Carat
Exploration Inc. on the TSX Venture market since 2006 and has been a director of
Pacific Rodera Energy Inc. on the TSX Venture market since
1998.
However, in the registrant’s annual
report for 2008 filed on
M
arch 31, 2009, the following was
disclosed:
C. Geoffrey Hampson
has been
our Chief Executive Officer (“CEO”) and director since June 1, 2007 and has been
our Principal Accounting Officer since January 31, 2008. Mr. Hampson
has been the founder, president, and CEO of many successful start-up and
operating companies over the last 25 years. He was CEO, President and
a director of PEER 1 Network Enterprises, Inc., an Internet infrastructure
company from September 2000 to January 2006. He has been the CEO of
Corelink Data Centers, LLC since November 2008, the President, CEO and co-owner
of Fibrox Technologies Ltd. since June 1994, and the CEO and a co-owner of
Techvibes Media Inc., a local market technology resource website and blog, since
March 2007. Mr. Hampson sits on the board of directors of
several companies including Corelink Data Centers, LLC, a private company since
November 2008, Cricket Capital Corp. on the TSX Venture market since March 2008,
Techvibes Media Inc., a private company, since March 2007, Carat Exploration
Inc. on the TSX Venture market since January 2006, and Pacific Rodera Energy
Inc. on the TSX Venture market since May 2002.
Obviously,
the 2008 disclosure reveals that he was CEO of Fibrox Technologies Ltd. and
Techvibes Media Inc., and a director of Techvibes Media Inc., when he signed his
employment agreement.
Please
feel free to call me at 845.256.8031 should you have any further
questions.
Glenn & Glenn LLP
/s/ D. Roger Glenn
EXHIBIT
A
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Communicate.com Inc. Ranks 18th on
the PROFIT 100 Ranking of Canada’s Fastest-Growing
Companies
|
|
VANCOUVER,
BC
– June 5, 2006
–
Communicate.com Inc.
(OTCBB:CMNN), a rapidly growing eCommerce company, is pleased to announce that
it has ranked 18th on the 18th annual PROFIT 100 ranking of Canada’s
Fastest-Growing Companies by
PROFIT: Your Guide
to Business Success
.
Ranking
Canada
’s Fastest-Growing Companies by
five-year revenue growth, the PROFIT 100 profiles the country’s most successful
growth companies. Published in the June issue of PROFIT and online at
PROFITguide.com, the PROFIT 100 is
Canada
’s largest annual celebration of
entrepreneurial achievement.
“The PROFIT 100 are role models for
anyone who wants to seize today’s best business opportunities,” says Ian
Portsmouth, editor of PROFIT. “By differentiating their products and applying
creative management thinking,
Canada
’s Fastest-Growing Companies are
outpacing the competition at home and abroad.”
“Being included in the PROFIT 100 is an
exciting milestone for our Company,” says David Jeffs, president of
Communicate.com. “This reaffirms our belief in the power of online commerce and
validates our business model. It is also a tribute to our employees, whose
efforts have helped raise Communicate.com from the depths of the dot-com
meltdown to one of
Canada
’s Fastest-Growing Companies.”
PROFIT: Your Guide
to Business Success,
offers
news, strategies, tips, interviews and other resources to entrepreneurs leading
Canada
's fastest-growing companies. Each year
PROFIT — which currently reaches more than 373,000 readers nationally — hosts a
number of events that bring together business leaders in the fast-growth segment
and champions the interests of those leaders. PROFIT was founded in April 1982
as
Canada
's first national magazine geared to
entrepreneurs. Visit PROFITguide.com.
About Communicate.com
Inc.
Communicate.com Inc.,
‘Targeted eCommerce
Brands’
,
is a rapidly growing, debt-free Internet
company with a core focus on eTail. Communicate owns some of the
Internet
’
s most instantly credible and easily
remembered brands, including
www.Perf
ume.com
,
www.Body.com
,
www.Boxing.com
,
www.Brazil.com
and
www.Importers.com
, to name just a few. Co
mmunicate
’
s portfolio of
intuitively branded B2C and B2B websites naturally attracts a high volume of
targeted traffic and potential clients per month, providing it with a crucial
competitive advantage in customer acquisition and price.
Communicate is publicly traded on the
NASD OTCBB under the symbol CMNN. For more information, visit
www.cmnn.com
.
This press release contains
“forward-looking” statements as such term is defined in the Private Securities
Litigation Reform Act of 1995. Because such statements include risks and
uncertainties, actual results may differ from those expressed or implied herein.
Further information on potential factors that could affect the financial results
of Communicate.com Inc. is included in the Company’s filings with the U.S.
Securities and Exchange Commission.
(604) 648-0536 or
1-866-898-4354
information@communicate.com
Copyright 2010 |
Contact
Us
|
Live Current Media Inc.
780 Beatty Street,
Suite 307
,
Vancouver
,
BC
V6B
2M1
|
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Communicate.com Listed at No. 17
on the 2007 PROFIT 100 Ranking of Canada’s Fastest-Growing
Companies
|
|
VANCOUVER, BC – June
4, 2007 –
Communicate.com
Inc. (OTCBB: CMNN), an emerging growth, debt-free eCommerce company, is pleased
to announce that it has been selected for the
19th annual PROFIT 100 ranking of
Canada’s Fastest-Growing Companies by PROFIT Magazine.
Communicate.com’s 2951% revenue growth
over the past five years has earned PROFIT Magazine's ranking as
Canada
's 17th fastest-growing
company.
Ranking
Canada
’s fastest-growing companies by
five-year revenue growth, the PROFIT 100 profiles the country’s most successful
growth companies. Published in the June issue of PROFIT and online at
PROFITguide.com, the PROFIT 100 is
Canada
’s largest annual celebration of
entrepreneurial achievement.
Ian Portsmouth, Editor of PROFIT says,
“PROFIT 100 companies are the new heroes of Canadian business, creating jobs at
home and products used around the world. They’ve accomplished this by building
great employee teams, exploiting export markets and rapidly responding to the
customer’s fast-changing needs.”
This is the second year in a row that
Communicate.com has been ranked on this prestigious list. The company was ranked
#18 on the 2006 edition of the PROFIT 100.
“Being included for a second straight
year in the PROFIT 100 is an important accreditation for the company,” says
David Jeffs, President of Communicate.com. “This gives us boosted credibility
and affirms our belief that eCommerce is the best industry to be
in.”
PROFIT: Your Guide to Business Success,
offers news, strategies, tips, interviews and other resources to entrepreneurs
leading
Canada
’s fastest-growing companies. Each year
PROFIT-- which currently reaches 370,000 readers nationally -- hosts a number of
events that bring together business leaders in the fast-growth segment and
champions the interests of those leaders. PROFIT was founded in April 1982 as
Canada
's first national magazine geared to
entrepreneurs. Visit PROFITguide.com.
About Communicate.com
Inc.
Communicate.com (
www.CMNN.com
) ‘Targeted eCommerce Brands’ is an
emerging growth, debt-free Internet company that owns some of the web’s most
instantly credible and easily remembered brands, including
www.Perfume.com
, America’s most popular perfume
website¹, and
www.Importers.com
, a leading international B2B trade
portal.
Communicate.com’s portfolio of
intuitively branded B2C and B2B websites naturally attracts a high volume of
targeted traffic and potential clients per month, providing it with a crucial
competitive advantage in customer acquisition and price. Communicate.com was
ranked as
Canada
's 18th fastest-growing company in 2006
by PROFIT magazine.
Certain statements contained in this
press release may constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Although Communicate.com
Inc. believes the expectations reflected in such forward-looking statements are
based on reasonable assumptions, it can give no assurance that its expectations
will be attained. Factors that could cause actual results to differ materially
from expectations include financial performance, regulatory changes, changes in
economic conditions and other risks detailed from time to time in
Communicate.com’s filings with the U.S. Securities and Exchange Commission. The
forward-looking statements included in this press release represent the
Company's views as of the date of this press release. The Company does not
undertake any obligation to update any forward-looking statements, and
readers are cautioned not
to place undue reliance on these forward-looking statements. (¹Alexa.com - Sites
in perfume)
Vice President, Corporate
Relations
(604) 648-0536 or
1-866-898-4354
www.CMNN.com
Copyright 2010 |
Contact
Us
|
Live Current Media Inc.
780 Beatty Street,
Suite 307
,
Vancouver
,
BC
V6B
2M1
|
EXHIBIT
B
EMPLOYMENT
AGREEMENT
THIS
AGREEMENT
is made as of the 9 day of November, 2007,
B E T W E E
N
:
COMMUNICATE.COM INC.
a
corporation incorporated under the laws of Nevada, USA
(the “Company”)
OF THE FIRST PART
- and -
MARK MELVILLE
of the City of
San Francisco, in the State of California,
(the “Executive”)
OF THE SECOND PART
WHEREAS
the Company and the
Executive wish to enter into this agreement to set forth the rights and
obligations of each of them as regards the Executive’s employment with the
Company;
NOW THEREFORE
this agreement
witnesseth that in consideration of the premises and the terms and conditions
herein contained, the parties hereto covenant and agree with each other as
follows:
In this Agreement the following
terms shall have the following meanings respectively:
“Affiliates”
has the meaning
attributed to such term in the
Business Corporations Act
(British Columbia) as the same is now constituted;
“Agreement”
means this agreement as it may be amended or supplemented from time to
time, and the expressions “hereof, “herein”, “hereto”, ‘hereunder”, “hereby” and
similar expressions refer to this Agreement and unless otherwise indicated,
references to sections are to sections in this Agreement;
“Benefits”
has the meaning
attributed to such term in section 3.6;
-2-
“
Board
” means the board of
directors of the Company
“Business
Day”
means any day, other than Saturday, Sunday or any statutory holiday
in the Province of British Columbia;
Change of
Control of the Company”
means a transaction or a series of transactions
whereby directly or indirectly:
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(i)
|
any Person or combination of Persons acting jointly and
in concert (other than the Executive or a corporation controlled directly
or indirectly by the Executive) acquires beneficially a sufficient number
of securities of the Company to materially affect the control of the
Company as provided below. Without limiting the generality of the
foregoing, for the purposes of this Agreement, a Person or combination of
Persons acting jointly and in concert, holding shares or other securities
in excess of the number which, directly or following the conversion or
exercise thereof, would entitle the holders thereof to cast 35% or more of
the votes attached to all shares of the Company which may be cast to elect
directors of the Company, shall be deemed to affect materially the control
of the Company, in which case the Change of Control of the Company shall
be deemed to occur on the date that is the later of the date that the
security representing one more than that required to cast 35% of the votes
attached to all shares of the Company which may be cast to elect directors
of the Company is acquired or the date on which the Persons acting jointly
and in concert agree to so act;
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(ii)
|
the Company shall consolidate or merge with or into,
amalgamate with, or enter into a statutory arrangement or business
combination with, any other Person (other than a corporation controlled
directly or indirectly by the Executive) and in connection therewith, all
or part of the outstanding shares of the Company which have voting rights
attached thereto shall be changed in any way, reclassified or converted
into, exchanged or otherwise acquired for shares or other securities of
the Company or any other Person or for cash or any other property and
control of the Company is thereby materially affected, as provided above
in clause (i), in which case the Change of Control of the Company shall be
deemed to occur on the date of closing of the consolidation, merger
amalgamation, statutory arrangement or business combination, as the case
may be; or
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(iii)
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the Company shall sell or otherwise transfer, including
by way of the grant of a leasehold interest (or one or more subsidiaries
of the Company shall sell or otherwise transfer, including without
limitation by way of the grant of a leasehold interest) property or assets
aggregating more than 50% of the consolidated assets (measured by either
book value or fair market value based on the most recent audited financial
statements) of the Company and its subsidiaries as of the end of the most
recently completed financial year to any other Person or Persons, in which
case the Change of Control of the Company shall be deemed to occur on the
date of transfer of the assets representing one dollar more than 50% of
the consolidated assets;
|
-3-
other than a transaction or series of transactions which
involves a sale of assets of the Company with which the Executive is involved as
a purchaser in any manner, whether directly or indirectly, and whether by way of
participation in a corporation or partnership that is a purchaser or by
provision of debt, equity or purchase leaseback financing (but excluding where
the Executive’s sole involvement with such a purchase is the ownership of an
equity interest of less than 5% of the acquirer where the acquirer is a public
company) and the Executive and Persons acting jointly and in concert with the
Executive hold securities of the acquirer which, directly, or following the
conversion or exercise thereof, would entitle the holders thereof to cast 5% or
more of the votes attached to all shares or other interests of the acquirer
which may be cast to elect directors or the management of the acquirer.
“Confidential Information”
means all confidential or proprietary information, intellectual property
(including trade secrets) and confidential facts relating to the business or
affairs of the Company or any of its Affiliates;
“Disability”
has the meaning
attributed thereto in any disability insurance policy carried on the life of the
Executive by the Company, provided that if the Company is not carrying such a
disability policy, “Disability” means the mental or physical state of the
Executive such that the Executive has been unable due to illness, disease or
other mental or physical disability to fulfil his obligations as an employee or
officer of the Company either for any consecutive 120 day period or for any
period of 180 days (whether or not consecutively) in any consecutive 12 month
period, or a court of a competent jurisdiction has declared the Executive to be
mentally incompetent or incapable of managing his affairs;
“
Effective
Date
” has the meaning attributed to such term in section 2.1;
“
Employment
Period
” has the meaning attributed to such term in section 2.4;
“Just
Cause”
means the wilful failure of the Executive to properly carry out
his duties after notice by the Company of the failure to do so and an
opportunity for the Executive to correct the same within 60 days from the date
of receipt of such notice, or theft, fraud, dishonesty or material misconduct by
the Executive involving the property, business or affairs of the Company or the
carrying out of the Executive’s duties, or the conviction of the Executive for
any criminal offence which the Board determines in good faith would adversely
affect the Executive’s ability to perform his duties hereunder, including a
conviction for an offence which adversely reflects on the integrity or
reputation of the Executive or the Company;
“Person”
includes individuals,
partnerships, associates, trusts, unincorporated organizations or a regulatory
body or agency, government or governmental agency or authority or entity however
designated or constituted;
“
Salary
” has the meaning
attributed to such term in section 3.1;
“
Special
Bonus
” has the meaning attributed to such term in section 3.4;
“
Termination
Without Cause
” or “
Terminated Without Cause
” have
the meaning attributed to such terms in section 7.3;
-4-
2.
|
Employment of the
Executive
|
2.1.
To Be Chief Corporate Development
Officer
. The Company shall employ the Executive, and the Executive
shall serve the Company, in the position of Chief Corporate Development Officer
(“CCDO”), effective as of and from January 1, 2008 (the “Effective Date”), on
the terms and conditions and for the remuneration hereinafter set out. In such
position, the Executive shall perform or fulfil such duties and responsibilities
as the Company may designate from time to time and as are reasonably consistent
with the position of a CCDO. In his capacity as an officer and employee of the
Company, the Executive shall report to the Chief Executive Officer of the
Company (“CEO”).
2.2.
Performance of Duties
.
The Executive hereby agrees to be employed by the Company as herein provided,
shall faithfully, honestly and diligently serve the Company and shall, subject
to section 2.1 above, carry out such tasks as the Company may from time to time
request. The Executive shall (except in the case of illness or accident) devote
all of his working time and attention to his employment hereunder and shall use
his best efforts to promote the interests of the Company.
2.3.
Annual Review of this
Agreement
. The terms and conditions contained in this Agreement
shall be subject to annual review by the CEO and the Board, representatives of
whom shall consult with the Executive in the course of such review. The Board
and Executive will negotiate in good faith any changes to the terms and
conditions of this Agreement as are appropriate to reflect the value of the
services of the Executive to the Company and the success of the Company in
establishing and achieving business goals for the Company, provided however,
that if the Board recommends an amendment that would constitute a material
change in the remuneration or responsibilities of the Executive, with which the
Executive does not agree and the Board persists in insisting on such amendment,
the Executive will be entitled to treat such event as Termination Without Cause
and the provisions of section 7.3 shall thereby apply effective as of the date
of such amendment.
2.4.
Employment Period
. The
Executive’s employment hereunder, subject to section 7 hereof, shall be for a
five-year term and any extension thereof as agreed by the Executive and the
Company, commencing from the Effective Date (the “Employment Period”).
3.1.
Base Salary
. During
the period of the Executive’s employment hereunder, the Company shall pay the
Executive a gross base salary (the “Salary”) in the amount of $250,000 in
respect of each year thereof, subject to section 3.2 below, payable in equal
instalments on the closest Business Day to the middle and the end of each month
during such year.
3.2.
Cost of Living Increase
The Salary shall be increased in respect of each year during the
Employment Period commencing October 1, 2008 by a percentage equal to the
percentage increase (if any) in the consumer price index, all items for
Vancouver, as published by Statistics Canada under the authority of the
Statistics Act
(Canada), for
the immediately preceding year.
-5-
3.3.
Bonus Remuneration
.
The Executive may, in respect of each year of his employment hereunder
commencing January 1, 2008, be entitled to a cash bonus of up to 50% of his
Salary for such year of employment as determined by the Board in its sole
discretion in accordance with the Company’s ongoing programmes and objectives,
which shall be paid within 30 days following the date as of when the audited
financial statements for such year have been approved by the Board.
3.4.
Signing and Special
Bonus
. As compensation for bonuses otherwise owing to the
Executive by his previous employer which will be foregone as a result of the
Executive’s employment pursuant hereto, the Company will pay to the Executive a
signing bonus of $300,000 on or before the Effective Date. In addition, two
special bonuses in the amount of $100,000 each (together, the “
Special Bonus
”), will be paid
to the Executive on each of the first and second anniversary of the Effective
Date.
3.5.
Stock Options
. The
Executive will be granted an option to purchase during the Employment Period up
to 1,000,000 common shares of the Company at the then market price on the
Effective Date which will be exercisable with respect to 333,334 shares on the
first anniversary of the Effective Date and thereafter with respect in each case
to 83,333.25 shares on the last day of each successive three-month period,
provided that if the Executive is Terminated without Cause, or is deemed to be
Terminated without Cause as provided herein, or dies, all unexercised options
will thereupon become exercisable.
In addition, the Board in its sole discretion will consider
each year during the Employment Period the grant of additional options to the
Executive to purchase common shares of the Company.
3.6.
Benefits
. The Company
shall provide to the Executive, in addition to the Salary and any bonus
remuneration, all such benefits (the “Benefits”) as it makes available from time
to time to the management and other employees of the Company in accordance with
and subject to the terms and conditions of the applicable fund, plan or
arrangement relating thereto. The Company will also in its discretion either
lease an automobile for the use of the Executive at a monthly rental of up to
$750 or provide the Executive with a car allowance of $750 per month. In
addition, the Company will pay the reasonable moving expenses incurred by the
Executive to relocate in Vancouver.
3.7.
Statutory Deductions
.
The Company shall deduct from the Salary, any bonus remuneration and any other
payments and allowances provided for herein, all such amounts as are required by
law to be withheld and deducted at source and shall remit the same to the
required governmental authority or agency.
The Company shall pay or
reimburse the Executive for all travel (including business class flights where
applicable in accordance with the Company’s policy from time to time) and
out-of-pocket expenses reasonably incurred or paid by the Executive in the
performance of his duties and responsibilities upon presentation of expense
statements or receipts or such other supporting documentation as the Company may
reasonably require.
-6-
In addition, the Company shall pay or
reimburse the Executive for all reasonable moving expenses associated with his
move from San Francisco to Vancouver including but not limited to temporary
housing in Vancouver for up to six months, moving all personal and household
goods and possessions and the transport of any motor vehicles owned by the
Executive.
The Executive shall be entitled
during each year of his employment hereunder to vacation with pay of four weeks.
Such vacation shall be taken by the Executive at such time as may be acceptable
to the Company having regard to its operations. Notwithstanding the foregoing,
in the event that the Executive’s employment is terminated pursuant to section
7, the Executive shall not be entitled to receive any payment in lieu of any
vacation to which he was entitled and which had not already been taken by him
except to the extent, if any, of the payments in respect of vacation pay
required under applicable law.
The Company will obtain and
maintain disability insurance with respect to the Executive on such terms and in
such amount as are normal and reasonable in relation to the Company and the
industry in which it operates.
7.1.
Termination for Just
Cause
. The Company may terminate the employment of the Executive
hereunder at any time for Just Cause without notice and without further
obligations to the Executive, including without payment of any kind of
compensation either by way of anticipated earnings or damages of any kind.
7.2.
Termination by
Death
.
The Executive’s employment hereunder shall be terminated upon the death of the
Executive, in which case the Company shall pay to the estate of the Executive
all Salary, bonus and vacation pay earned to the date of death but unpaid, and
such Salary and bonus, plus any unpaid portion of the Special Bonus, and shall
reimburse his expenses, as would have been paid or reimbursed to the Executive
in the event of Termination without Cause.
7.3.
Termination without Just Cause and
without Notice.
The Company may terminate the employment of the
Executive hereunder, in its sole discretion, without notice and without Just
Cause (“Termination Without Cause” or “Terminated Without Cause”), effective
immediately upon the date as of when the Executive is advised of such
termination, and in such case the Company shall:
|
(a)
|
pay the Executive a severance allowance equivalent to
the aggregate of:
|
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(i)
|
one year of the Executive’s then current Salary;
and
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(ii)
|
an amount equivalent to the Executive’s annualized
entitlement to bonus remuneration as provided below,
|
in a lump sum within two weeks
following the date of such termination;
|
(b)
|
pay to the Executive all outstanding vacation pay and
any earned but unpaid Salary up to the date of such termination within two
weeks of the date of such termination;
|
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(c)
|
reimburse the Executive for any business expenses
incurred by him up to and including the date of such termination following
provision by the Executive of applicable receipts;
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(d)
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ensure that it has complied with all statutory
obligations imposed by applicable law; and
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(e)
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pay the reasonable moving expenses incurred by the
Executive to relocate back in San Francisco up to a maximum of $25,000,
provided that the Executive at the time that his employment hereunder was
terminated had been employed by the Company for less than three
years.
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Unless otherwise agreed with
the Company, all payments on account of Benefits shall cease and the Company
shall be under no further obligation with respect thereto upon the termination
of the Executive’s employment hereunder. For the purpose of clause (ii) of
subsection 7.3(a) above, annualized entitlement to bonus remuneration shall be
equal to the arithmetic average of the annual bonuses, excluding the Special
Bonus, paid or payable to the Executive during the three completed years prior
to the year in which his termination occurs, provided that if such termination
occurs prior to the completion of three years of the Executive’s employment
hereunder, entitlement to bonus remuneration shall be calculated, mutatis
mutandis, on the basis of the annual bonuses, excluding the Special Bonus, paid
or payable to the Executive in respect of the completed year or years, if any,
prior to the year of such termination. In addition, the Executive shall be paid
the outstanding balance of the Special Bonus, if any, which has not been paid to
the Executive as of the date of the termination of his employment
hereunder.
The payments referred to in
subsection 7.3(a) above shall not be subject to set-off or deduction as a result
of the Executive obtaining alternative employment following such termination or
otherwise mitigating any damages arising from such termination. Further, such
payments are inclusive of all statutory obligations, including statutory
termination and severance payments, which may be owed to the Executive.
7.4.
Termination following a Change of
Control.
In the event of a Change of Control of the Company, the
Executive may elect to resign his employment by giving written notice to the
Company within 60 days following the date of occurrence of such Change of
Control of the Company, in which event the Executive’s employment hereunder
shall be deemed to have been Terminated Without Cause by the Company and the
provisions of section 7.3 shall thereby apply effective as of the date of such
notice.
-8-
7.5.
Termination Without Cause upon
Disability.
If the employment of the Executive is terminated by
the Company because of a Disability, the Executive shall be deemed to have been
Terminated Without Cause and the provisions of section 7.3 hereof shall thereby
apply effective as of the date of such termination, provided that the amount
payable to the Executive under subsection 7.3(a) hereof shall be reduced by an
amount equal to the aggregate amount of any disability benefits payable to the
Executive under any disability insurance carried by the Company in respect of
the year immediately following the date of such termination.
7.6.
Cessation of Duties and Obligations
of the Company
. Unless otherwise agreed, the Executive shall upon
receiving any notice of termination of his employment hereunder, whether or not
purported to constitute prior notice, forthwith cease to perform his duties and
responsibilities and cease to attend the Company’s premises. The Company’s
obligations pursuant to this section 7 with respect to the termination of the
Executive’s employment hereunder shall commence as of the date of receipt of
such notice of termination except where otherwise provided herein.
7.7.
Resignation or Retirement of the
Executive
. The Executive shall provide the Company with three
months prior written notice of his resignation or retirement from the Company,
except in the case of Change of Control of the Company in respect of which
section 7.4 hereof is applicable.
7.8.
Material Change in Duties and
Responsibilities
. If there has been a material change in the
Executive’s duties and responsibilities such as he is required to assume duties
that are not consistent with, or to relinquish duties that are consistent with,
those set out in section 2.1 or a material reduction in his annual remuneration,
and such change is unacceptable to the Executive, the Company shall be
considered for all purposes of this agreement to have delivered a notice of
Termination Without Cause on the date of such change terminating the Executive’s
employment and section 7.3 hereof shall thereby apply effective as of such
date.
7.9.
Deductions and
Withholdings
. All payments made to the Executive pursuant to this
section 7 shall be subject to applicable deductions and withholdings.
7.10.
Complete Satisfaction.
Compliance by the Company with its obligations pursuant to this section 7 hereof
shall constitute full and final satisfaction of any entitlement which the
Executive may have with respect to the termination of his employment hereunder,
including without limitation, any entitlement to notice, pay in lieu of notice
or severance, whether arising under contract, statute or otherwise, and the
Executive shall have no action, cause of action, claim or demand, either under
statutory or common law, against the Company or any other Person as a
consequence of such termination.
7.11.
Return of Property.
In
the event of the termination of the Executive’s employment hereunder for any
reason, including resignation or retirement, the Executive will immediately
return to the Company all property of the Company in his possession or under his
control.
The Executive agrees that any
and all operational and scientific information, including but not limited to,
marketing, business plans, formulae, processes, designs, computer software and
programmes and inventions which the Executive may conceive or make or have
conceived or made in the course or arising out of his employment with the
Company (collectively, the “Works”) shall be and are the sole and exclusive
property of the Company and shall be disclosed by the Executive to the Company.
The Executive shall, whenever requested to do so by the Company, and without any
obligation on the part of the Company to pay any royalty or other compensation
to the Executive, at the Company’s expense execute and sign any and all
applications, assignments or other instruments and do all other things which the
Company may deem necessary or appropriate:
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(i)
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in order to apply for, obtain, maintain, enforce or
defend letters patent in Canada or in any foreign country for any Works;
or
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(ii)
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in order to assign, transfer, convey or otherwise made
available to the Company the sole and exclusive rights, title and interest
in and to any Works.
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The Executive also agrees to waive in whole any moral rights
which it may have in any Works or any part or parts thereof.
The Executive shall not during
the Employment Period and the 12 months immediately thereafter (except in the
event of a Change of Control of the Company), directly or indirectly, in any
manner whatsoever including, without limitation, either individually, or in
partnership, jointly or in conjunction with any other Person, or as an employee,
principal, agent, director or shareholder:
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(i)
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be engaged in any undertaking;
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(ii)
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have any financial or other interest (including an
interest by way of royalty or other compensation arrangements) in or in
respect of the business of any Person; or
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(iii)
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advise, lend money to, guarantee the debts or
obligations of any Person which carries on a business;
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anywhere in Canada which is the same as or substantially
similar to or competes with or would compete with the specific businesses
carried on by the Company or any of its Affiliates during the Employment
Period.
Notwithstanding the foregoing,
nothing herein shall prevent the Executive from being engaged in an e-commerce
or e-media company or venture that does not derive more than 25% of its revenue
from any property, business or operation that competes directly with any of the
specific business units of the Company or its Affiliates, nor from owning up to
5% of the issued shares of a corporation, the shares of which are listed on a
recognized stock exchange or publicly traded on an over-the-counter market,
which carries on a business which is the same as
-10-
or substantially similar to or which competes
with or would compete with the business of the Company or any of its
Affiliates.
10.
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No Solicitation of
Customers
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The Executive shall not, during
the Employment Period and for the 12 months immediately thereafter (except in
the event of a Change of Control of the Company), directly or indirectly,
contact or solicit any designated customers of the Company or any of its
Affiliates for the purpose of selling to the designated customers any services
or products which are the same as or substantially similar to, or in any way
competitive with, the services or products sold by the Company or any of its
Affiliates during the Employment Period. For the purpose of this section, a
designated customer means a Person who was a customer of the Company or of any
of its Affiliates during some part of the Employment Period.
11.
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No Solicitation of
Employees
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The Executive shall not, during
the Employment Period and for the 12 months immediately thereafter (except in
the event of a Change of Control of the Company), directly or indirectly, employ
or retain as an independent contractor any employee of the Company or any of its
Affiliates or induce or solicit, or attempt to induce, any such Person to leave
his or her employment.
The Executive shall not, either
during the Employment Period hereunder or at any time thereafter, directly or
indirectly, use or disclose to any Person any Confidential Information provided,
however, that nothing in this section shall preclude the Executive from
disclosing or using Confidential Information, if:
12.1. the Confidential Information is available to the public
or in the public domain at the time of such disclosure or use, without breach of
this Agreement;
12.2. disclosure of the Confidential Information is required
to be made by any law, regulation, governmental authority or court; or
12.3. the Confidential Information was received by the
Executive after termination of the Employment Period from a third party who had
a lawful right to disclose it to the Executive.
The Executive acknowledges that
a breach or threatened breach by the Executive of the provisions of sections 8
to 11, inclusive, may result in the Company and its shareholders suffering
irreparable harm which is not capable of being calculated and which cannot be
fully or adequately compensated by the recovery of damages alone. Accordingly,
the Executive agrees that the Company shall be entitled to interim and permanent
injunctive relief, specific performance and other equitable remedies, in
addition to any other relief to which the Company may become entitled.
14.
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Co-operation by
Executive
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The Executive shall co-operate
in all respects with the Company if the question arises as to whether a
Disability has occurred. Without limiting the generality of the foregoing, the
Executive shall authorize the Executive’s medical doctor or other health care
specialist to discuss the condition of the Executive with the Company and shall
submit to examination by a medical doctor or other health care specialist
selected by the Company, acting reasonably.
15.
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Representation of
Executive
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The Executive represents and
warrants to the Company that he is not a party to, or bound by, any agreement or
understanding with any other Person that precludes or restricts his ability and
entitlement in any way to carry out his duties of employment with the Company as
contemplated herein, free and clear of any claims or liabilities of whatsoever
nature.
(a) Any dispute between the
parties hereto in respect of the interpretation of this Agreement or otherwise
arising under this Agreement which cannot be resolved by the parties acting in
good faith within a period of 30 days following the giving of a written notice
by one party to the other party hereto (the “Notice Period”) will be determined
by arbitration.
(b) If a dispute is not
resolved within the Notice Period, either party hereto may thereafter by written
notice delivered to the other party hereto demand arbitration of such dispute as
herein provided.
(c) Upon a demand for
arbitration as set forth above, the parties hereto will within 10 days from the
date on which notice of the demand is given, appoint a single arbitrator to
resolve the dispute and, failing such appointment, either party may apply to
have a single arbitrator appointed by the British Columbia International
Commercial Arbitration Centre in which case the dispute shall be arbitrated in
accordance with such Centre’s Rules of Procedure.
(d) The place of arbitration
will be Vancouver, British Columbia and the decision of the arbitrator will be
final and binding upon the parties hereto.
(e) All costs of the
arbitration, other than the costs of any counsel engaged by the Executive, will
be for the account of the Company.
Any notice or other
communication required or permitted to be given hereunder shall be in writing
and shall be given by prepaid first-class mail, by facsimile or other means of
electronic communication or by hand-delivery as hereinafter provided, except
that any notice of termination by the Company under section 7 shall be
hand-delivered or given by registered mail. Any such notice or other
communication, if mailed by prepaid first-class mail at any time other than
during a general discontinuance of postal service due to strike, lockout or
otherwise, shall be deemed to have been received on the fourth Business Day
after the post-marked date thereof, or if mailed by registered mail, shall be
deemed to have been received on the day such mail is
delivered by the post office, or if sent by
facsimile or other means of electronic communication, shall be deemed to have
been received on the Business Day following the sending, or if delivered by hand
shall be deemed to have been received at the time it is delivered in person to
the Executive or to the Company at its address noted below either to the
individual designated below or to an individual at such address having apparent
authority to accept deliveries on behalf of the Company. Notice of change of
address shall also be governed by this section. In the event of a general
discontinuance of postal service due to strike, lock-out or otherwise, notices
or other communications shall be delivered by hand or sent by facsimile or other
means of electronic communication and shall be deemed to have been received in
accordance with this section. Notices and other communications shall be
addressed as follows:
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(a)
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if to the Company:
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Communicate.com Inc.
Suite 600
1100 Melville
Street
Vancouver, British Columbia
V6E 4A6
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(b)
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if to the Executive:
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62 Sussex Street
San Francisco, CA 94131
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The inclusion of headings in
this Agreement is for convenience of reference only and shall not affect the
construction or interpretation hereof.
19.
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Invalidity of
Provisions
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Each of the provisions
contained in this Agreement is distinct and severable and a declaration of
invalidity or unenforceability of any such provision by a court of competent
jurisdiction shall not affect the validity or enforceability of any other
provision thereof.
This Agreement constitutes the
entire agreement between the parties pertaining to the subject matter of this
Agreement. This Agreement supersedes and replaces all prior agreements if any,
written or oral, with respect to the Executive’s employment by the Company and
any rights which the Executive may have by reason of any such prior agreement.
There are no warranties, representations or agreements between the parties in
connection with the subject matter of this Agreement except as specifically set
forth or referred to in this Agreement. No reliance is placed on any
representation, opinion, advice or assertion of fact made by the
Company or its directors, officers and agents
to the Executive, except to the extent that the same has been reduced to writing
and included as a term of this Agreement. Accordingly, there shall be no
liability, either in tort or in contract, assessed in relation to any such
representation, opinion, advice or assertion of fact, except to the extent
aforesaid.
Except as expressly provided in
this Agreement, no amendment or waiver of this Agreement shall be binding unless
executed in writing by the party to be bound thereby. No waiver of any provision
of this Agreement shall constitute a waiver of any other provision nor shall any
waiver of any provision of this Agreement constitute a continuing waiver unless
otherwise expressly provided.
All amounts in this Agreement are stated and shall be paid in
Canadian currency.
This Agreement shall be
governed by and construed in accordance with the laws of the Province of British
Columbia and the laws of Canada applicable therein.
This Agreement may be signed in
counterparts and each of such counterparts shall constitute an original document
and such counterparts, taken together, shall constitute one and the same
instrument.
The Executive acknowledges
that:
25.1. the Executive has had sufficient time to review and
consider this Agreement thoroughly;
25.2. the Executive has read and understands the terms of
this Agreement and the Executive’s obligations hereunder; and
25.3. the Executive has been given an opportunity to obtain
independent legal advice, or such other advice as the Executive may desire,
concerning the interpretation and effect of this Agreement.
-14-
IN WITNESS WHEREOF
the parties
have executed this Agreement as of the day and year first above written.
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COMMUNICATE.COM INC.
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By:
/S/ C. GEOFFREY HAMPSON
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Witness
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) /S/ MARK MELVILLE
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MARK
MELVILLE
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HOME
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ABOUT
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DESTINATIONHUB
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SITES
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Live Current Media Inc. and DLF
Indian Premier League To Launch IPLT20.com as Official IPL Online
Destination
|
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Exclusive Ten-year Partnership with IPL
and BCCI Represents First Steps Toward Bringing Global Cricket Fans Closer to
the Game Through In-Depth, Interactive Experiences
MUMBAI,
INDIA
and
VANCOUVER, BC – April
17, 2008 –
Communicate.com
Inc. dba Live Current Media Inc. (OTCBB: CMNN), a media company built around
content and commerce destinations, announced that it will launch IPLT20.com
tomorrow as the official site for the DLF Indian Premier League. As
outlined in the Memorandum of Understanding (MOU), Live Current will become the
exclusive online provider of content from the Board of Control for Cricket in
India (BCCI) and the DLF Indian Premier League. This signifies the first
cricket-related content and distribution relationship by Live Current as the
Company plans to build and launch its Cricket.com asset as the future cricket
DestinationHub™ for cricket fans globally.
With
IPLT20.com
becoming the official online
destination for the DLF Indian Premier League, fans from around the world will
now have access to the 44 day long season starting tomorrow, April 18. The site
will offer access to official league content including audio-visual,
photographs, live scoreboards and summaries, match results, Fantasy Cricket,
player interviews, profiles, schedules, statistics, ticketing and fan
interaction through polls, contests and newsletters.
The launch of IPLT20.com enables
businesses from around the world to access millions of cricket fans through
advertising and branding of the official site. In the same vein as
major sports media events such as the World Cup, the DLF Indian Premier League
is predicted to be a major revenue generator, on track towards its target of $2
billion in its inaugural season through franchise and rights sales, advertising,
sponsorships and ticket sales.
Many global organizations have already
come on board as various sponsors including Sony and the World Sports Group
which have secured the global broadcast rights for over $1 billion and blue chip
sponsors including PepsiCo, Hero Honda, Vodafone, CitiBank and Kingfisher have
committed to the league.
“Based on our experience, we predict
that the Indian Premier League will be one of the biggest sports and
entertainment media events in the world,” says Andrew Wildblood, SVP of IMG, the
official media and event partner for the IPL. “Having managed significant sports
media of this size, we recognize the immense opportunity for IPLT20.com to
enable passionate fans to connect with the content they want from wherever they
are around the world, and for brands in
India
and around the world to gain visibility
to this huge audience.”
The ten-year agreement outlined in the
Memorandum of Understanding with Live Current includes extensive co-marketing
and exclusive online content rights agreements for Live Current to build, launch
and operate the official online destinations for the DLF Indian Premier League:
www.IPLT20.com
and the BCCI: www.BCCI.tv. The BCCI
will be guaranteed on a combined basis a minimum of US $3 million annually and
the IPL US $ 2 million annually through revenue sharing agreements including
percentages of advertising, sponsorship and merchandising sales.
Lalit Modi, Chairman & Commissioner,
DLF Indian Premier League, said, “I expect the site to extend the stadium
experience of a cricket match to the worldwide audience of cricket fans at
large. The
www.IPLT20.com
website is highly interactive and
includes everything a cricket fan would need to get their daily, hourly and
minute-by-minute fix.” Speaking specifically of the relationship with Live
Current Modi added, “We chose to work with Live Current because of its vision of
developing a consumer hub for that provides IPL fans globally with free and
direct access to the play-by-play action and ability to connect with those
aspects that they love about the game – from the international stars to the
on-field action.”
In addition to today’s launch of
www.IPLT20.com
, Live Current is also developing the
official web site for the BCCI:
www.BCCI.tv
. The BCCI is the largest cricket body
in the world and represents all Indian cricket including the Indian national
team. The BCCI site will be a premier sports web site, akin to
Fifa.com, and will be the destination for
India
’s 1 billion cricket fans to get
in-depth information about players and teams.
“Our team extends North America, the UK
and India and is set on creating the most interactive environment for cricket
fans worldwide to engage in the world of Indian cricket from wherever they
live,” says Geoffrey Hampson, Live Current Media Inc. CEO and Chairman. “These
partnerships represent enormous value for Live Current in the form of exclusive
rights to IPL and BCCI content. The relationship is very strategic for us as we
build a world class sports media business to serve the immense fan base for
cricket.”
Live Current’s DestinationHubs
integrates all aspects by
which users interact with the Internet and the sport of cricket to discover more
and get closer to the information they are passionate about in their daily
lives. Today’s launch of IPLT20.com is the first of many sites to be developed
by the new Live Current team, including newly acquired individuals formerly with
Auctomatic. The Auctomatic team and developer, Ankur Nagpal bring extensive
experience with social media and application development such as Fantasy Cricket
on Facebook on the IPLT20.com site which will be fully leveraged across
Cricket.com
and other future Live Current
destinations.
About Live Current Media
Inc.
Communicate.com Inc.
is doing business as "Live Current
Media Inc." and will seek formal shareholder approval to change its legal name
to Live Current Media Inc. later in 2008.
Live Current builds, owns and operates
some of the most powerful and engaging content and commerce destinations on the
Internet. Through subject-specific DestinationHubs
™
, Live Current properties connect people
to each other and to the information, brands, and products they are passionate
about. Live Current has headquarters in
Vancouver
,
Canada
with a location in
Seattle
,
WA
and is publicly traded on the NASD
OTCBB (CMNN). For more information, visit
www.livecurrent.com
.
About the DLF Indian Premier
League
The DLF Indian Premier League is set to
kick off on April 18th 2008, with some high voltage action expected between
ShahRukh Khan’s Kolkata Knight Riders and Dr. Vijay Mallya’s Bangalore Royal
Challengers at the Chinnaswamy Stadium at
Bangalore
. The DLF Indian Premier League will
feature eight Franchises and will run for 44 days. Each Franchise will play
others on a home and away basis with 7 matches at home. The top 4 Franchises in
the league will contest the semi finals and the victorious semi finalists will
meet in the Grand Final all over one weekend, which will be played out in
Mumbai.
The inaugural season of the DLF Indian
Premier League will showcase a grand total of 59 matches providing broadcasters
and in-stadia spectators with 177 hours of live "family entertainment", which
will also be viewed by a significant international audience. All matches will be
during late afternoon and evening to coincide with prime time for television and
providing a convenient time for the stadium audience. The LIVE In-stadia
entertainment, combined with the high-octane on-field action has further hooked
viewers onto this new adrenalin packed LIVE family entertainment format
attracting a much younger fan base, which also includes women and
children.
Safe
Harbor
: Certain statements contained in this
press release may constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Although Communicate.com
Inc. d.b.a Live Current Media Inc. believes the expectations reflected in such
forward-looking statements are based on reasonable assumptions; it can give no
assurance that its expectations will be attained. Factors that could cause
actual results to differ materially from expectations include financial
performance, regulatory changes, changes in economic conditions and other risks
detailed from time to time in the Company’s filings with the U.S. Securities and
Exchange Commission. The forward-looking statements included in this press
release represent the Company's views as of the date of this press release. The
Company does not undertake any obligation to update any forward-looking
statements, and readers are cautioned not to place undue reliance on these
forward-looking statements.
Director, Investor
Relations
(604) 453-4875 or
1-866-898-4354
markmcp@allianceadvisors.net
Media Contact in the
US
:
Director, Corporate
Communications
DLF Indian Premier League
Contact:
Adfactors Public
Relations
percy.dubash@adfactorspr.com
Copyright 2010 |
Contact
Us
|
Live Current Media Inc.
780 Beatty Street,
Suite 307
,
Vancouver
,
BC
V6B
2M1
|
EXHIBIT
D
Exhibit
10.7
EMPLOYMENT
AGREEMENT
THIS
AGREEMENT
is made as of the 31
st
day of May, 2007,
B E T W E E N
:
COMMUNICATE.COM INC.
a
corporation incorporated under the laws of State of Nevada, United States of
America
(the “Company”)
OF THE FIRST PART
- and -
C. GEOFFREY HAMPSON
,
of the City of Vancouver, in the Province of
British Columbia,
(the “Executive”)
OF THE SECOND PART
WHEREAS
the Company and the
Executive wish to enter into this agreement to set forth the rights and
obligations of each of them as regards the Executive’s employment with the
Company;
NOW THEREFORE
this agreement
witnesseth that in consideration of the premises and the terms and conditions
herein contained, the parties hereto covenant and agree with each other as
follows:
1.
Definitions
In this Agreement the
following terms shall have the following meanings respectively:
“Affiliates”
has the meaning
attributed to such term in the
Business Corporations Act
(British Columbia) as the same is now constituted;
“Agreement”
means this
agreement as it may be amended or supplemented from time to time, and the
expressions “hereof, “herein”, “hereto”, ‘hereunder”, “hereby” and similar
expressions refer to this Agreement and unless otherwise indicated, references
to sections are to sections in this Agreement;
“Benefits”
has the meaning
attributed to such term in section 3.5;
“
Board
” means the board of
directors of the Company
“Business Day”
means any day,
other than Saturday, Sunday or any statutory holiday in the Province of British
Columbia;
Change of Control of the
Company”
means a transaction or a series of transactions whereby directly
or indirectly:
(i)
any Person or combination of Persons acting
jointly and in concert (other than the Executive or a corporation controlled
directly or indirectly by the Executive) acquires beneficially a sufficient
number of securities of the Company to materially affect the control of the
Company as provided below. For the purposes of this Agreement, a Person or
combination of Persons acting jointly and in concert, holding shares or other
securities in excess of the number which, directly or following the conversion
or exercise thereof, would entitle the holders thereof to cast 35% or more of
the votes attached to all shares of the Company which may be cast to elect
directors of the Company, shall be deemed to affect materially the control of
the Company, in which case the Change of Control of the Company shall be deemed
to occur on the date that is the later of the date that the security
representing one more than that required to cast 35% of the votes attached to
all shares of the Company which may be cast to elect directors of the Company is
acquired or the date on which the Persons acting jointly and in concert agree to
so act;
(ii)
the Company shall consolidate or merge with or
into, amalgamate with, or enter into a statutory arrangement or business
combination with, any other Person (other than a corporation controlled directly
or indirectly by the Executive) and in connection therewith, all or part of the
outstanding shares of the Company which have voting rights attached thereto
shall be changed in any way, reclassified or converted into, exchanged or
otherwise acquired for shares or other securities of the Company or any other
Person or for cash or any other property and control of the Company is thereby
materially affected, as provided above in clause (i), in which case the Change
of Control of the Company shall be deemed to occur on the date of closing of the
consolidation, merger amalgamation, statutory arrangement or business
combination, as the case may be; or
(iii)
the Company shall sell or otherwise transfer,
including by way of the grant of a leasehold interest (or one or more
subsidiaries of the Company shall sell or otherwise transfer, including without
limitation by way of the grant of a leasehold interest) property or assets
aggregating more than 50% of the consolidated assets (measured by either book
value or fair market value based on the most recent audited financial
statements) of the Company and its subsidiaries as of the end of the most
recently completed financial year to any other Person or Persons, in which case
the Change of Control of the Company shall be deemed to occur on
-3-
the date of transfer of the assets representing
one dollar more than 50% of the consolidated assets;
other than a transaction or series of
transactions which involves a sale of assets of the Company with which the
Executive is involved as a purchaser in any manner, whether directly or
indirectly, and whether by way of participation in a corporation or partnership
that is a purchaser or by provision of debt, equity or purchase leaseback
financing (but excluding where the Executive’s sole involvement with such a
purchase is the ownership of an equity interest of less than 5% of the acquirer
where the acquirer is a public company) and the Executive and Persons acting
jointly and in concert with the Executive hold securities of the acquirer which,
directly, or following the conversion or exercise thereof, would entitle the
holders thereof to cast 5% or more of the votes attached to all shares or other
interests of the acquirer which may be cast to elect directors or the management
of the acquirer.
“Confidential Information”
means all confidential or proprietary information, intellectual property
(including trade secrets) and confidential facts relating to the business or
affairs of the Company or any of its Affiliates;
“Disability”
has the meaning
attributed thereto in any disability insurance policy carried on the life of the
Executive by the Company, provided that if the Company is not carrying such a
disability policy, “Disability” means the mental or physical state of the
Executive such that the Executive has been unable due to illness, disease or
other mental or physical disability to fulfil his obligations as an employee or
officer of the Company either for any consecutive 90 day period or for any
period of 180 days (whether or not consecutively) in any consecutive 12 month
period, or a court of a competent jurisdiction has declared the Executive to be
mentally incompetent or incapable of managing his affairs;
“
Effective Date
” has the
meaning attributed to such term in section 2.1;
“
Employment Period
” has the
meaning attributed to such term in section 2.4;
“Just Cause”
means the wilful
failure of the Executive to properly carry out his duties after notice by the
Company of the failure to do so and an opportunity for the Executive to correct
the same within 60 days from the date of receipt of such notice, or theft,
fraud, dishonesty or material misconduct by the Executive involving the
property, business or affairs of the Company or the carrying out of the
Executive’s duties, or the conviction of the Executive for any criminal offence
which the Board determines in good faith would adversely affect the Executive’s
ability to perform his duties hereunder, including a conviction for an offence
which adversely reflects on the integrity or reputation of the Executive or the
Company;
“Person”
includes individuals,
partnerships, associates, trusts, unincorporated organizations or a regulatory
body or agency, government or governmental agency or authority or entity however
designated or constituted;
“
Termination Without Cause
” or
“
Terminated Without
Cause
” have the meaning attributed to such terms in section 6.3;
-4-
2.
Employment of the
Executive
2.1.
To Be Chief Executive
Officer
. The Company shall employ the Executive, and the
Executive shall serve the Company, in the position of Chief Executive Officer
and a director of the Company, effective as of and from June 1, 2007 (the
“Effective Date”), on the terms and conditions and for the remuneration
hereinafter set out. In such position, the Executive shall perform or fulfil
such duties and responsibilities as the Company may designate from time to time
and as are reasonably consistent with the position of a chief executive officer.
In his capacity as an officer and employee of the Company, the Executive
shall report to the Board.
2.2.
Performance of Duties
.
The Executive hereby agrees to be employed by the Company as herein
provided, shall faithfully, honestly and diligently serve the Company and shall,
subject to section 2.1 above, carry out such tasks as the Company may from time
to time request. The Executive shall (except in the case of illness or
accident) devote all of his working time and attention to his employment
hereunder and shall use his best efforts to promote the interests of the
Company.
2.3.
Annual Review of this
Agreement
. The terms and conditions contained in this
Agreement shall be subject to annual review by the Board, representatives of
whom shall consult with the Executive in the course of such review. The
Board and Executive will negotiate in good faith any changes to the terms and
conditions of this Agreement as are appropriate to reflect the value of the
services of the Executive to the Company and the success of the Company in
establishing and achieving business goals for the Company, provided however,
that if the Board recommends an amendment that would constitute a material
change in the remuneration or responsibilities of the Executive, with which the
Executive does not agree and the Board persists in insisting on such amendment,
the Executive will be entitled to treat such event as Termination Without Cause
and the provisions of section 6.3 shall thereby apply effective as of the date
of such amendment.
2.4.
Employment Period
.
The Executive’s employment hereunder, subject to section 6 hereof, shall
be for a five-year term or any extension thereof, commencing from the Effective
Date (the “Employment Period”).
3.
Remuneration
3.1.
Base Salary
.
During the period of the Executive’s employment hereunder, the Company
shall pay the Executive a gross base salary (the “Salary”) in the amount of
$300,000 in respect of each year thereof, subject to section 3.2 below, payable
in equal instalments on the closest Business Day to the middle and the end of
each month during such year.
3.2.
Cost of Living
Increase
The Salary shall be increased in respect of each
subsequent year during the Employment Period by a percentage equal to the
percentage increase (if any) in the consumer price index, all items for
Vancouver, as published by Statistics Canada under the authority of the
Statistics Act
(Canada) (the
“CPI”), for the period from June 1, 2007 to June 1 of such subsequent year, less
the percentage increase (if any) in the CPI for the period from June 1, 2007 to
June 1 of the year in the Employment Period next preceding such subsequent
year.
-5-
3.3.
Bonus Remuneration
.
The Executive may, in respect of each year of his employment hereunder, be
entitled to a cash bonus of up to 60% of his Salary for such year of employment
as determined by the Board in its sole discretion in accordance with the
Company’s ongoing programmes and objectives, which shall be paid within 30 days
following the date as of when the audited financial statements for such year
have been approved by the Board.
3.4.
Stock Options
.
The Board will consider each year during the Employment Period the grant
of options to the Executive to purchase common shares of the Company which shall
be solely within the discretion of the Board.
3.5.
Benefits
. The
Company shall provide to the Executive, in addition to the Salary and any bonus
remuneration, all such benefits (the “Benefits”) as it makes available from time
to time to the management and other employees of the Company in accordance with
and subject to the terms and conditions of the applicable fund, plan or
arrangement relating thereto.
3.6.
Automobile
.
During the Employment Period, the Company will pay to the Executive a
monthly car allowance to compensate the Executive for the use of his personal
automobile.
3.7.
Statutory Deductions
.
The Company shall deduct from the Salary, any bonus remuneration and any
other payments and allowances provided for herein, all such amounts as are
required by law to be withheld and deducted at source and shall remit the same
to the required governmental authority or agency.
4.
Expenses
The Company shall pay or reimburse the Executive
for all travel (including business class flights) and out-of-pocket expenses
reasonably incurred or paid by the Executive in the performance of his duties
and responsibilities upon presentation of expense statements or receipts or such
other supporting documentation as the Company may reasonably require.
5.
Vacation
The Executive shall be entitled during each year
of his employment hereunder to vacation with pay of four weeks. Such
vacation shall be taken by the Executive at such time as may be acceptable to
the Company having regard to its operations. Notwithstanding the
foregoing, in the event that the Executive’s employment is terminated pursuant
to section 6, the Executive shall not be entitled to receive any payment in lieu
of any vacation to which he was entitled and which had not already been taken by
him except to the extent, if any, of the payments in respect of vacation pay
required under applicable law.
Termination
6.1.
Termination for Just
Cause
. The Company may terminate the employment of the
Executive hereunder at any time for Just Cause without notice and without
further obligations to the Executive, including without payment of any kind of
compensation either by way of anticipated earnings or damages of any kind.
6.2.
Termination by
Death
.
The Executive’s employment hereunder shall be terminated upon the death of
the Executive, in which case the Company shall pay all Salary and vacation pay
earned to the date of death but unpaid to the estate of the Executive, however,
no other amounts either by way of bonus remuneration, anticipated earnings or
damages of any kind shall be paid.
6.3.
Termination without Just Cause and
without Notice.
The Company may terminate the employment of
the Executive hereunder, in its sole discretion, without notice and without Just
Cause (“Termination Without Cause” or “Terminated Without Cause”), effective
immediately upon the date as of when the Executive is advised of such
termination, and in such case the Company shall:
(a)
pay the Executive a severance allowance
equivalent to the aggregate of:
(i)
one year of the Executive’s then current Salary;
and
(ii)
an amount equivalent to the Executive’s
annualized entitlement to bonus remuneration as provided below,
in a lump sum within two weeks following the
date of such termination;
(b)
pay to the Executive all outstanding vacation pay
and any earned but unpaid Salary up to the date of such termination within two
weeks of the date of such termination;
(c)
reimburse the Executive for any business expenses
incurred by him up to and including the date of such termination following
provision by the Executive of applicable receipts; and
(d)
ensure that it has complied with all statutory
obligations imposed by applicable law.
Unless otherwise agreed with the Company, all
payments on account of Benefits shall cease and the Company shall be under no
further obligation with respect thereto upon the termination of the Executive’s
employment hereunder. For the purpose of clause (ii) of subsection 6.3(a)
above, annualized entitlement to bonus remuneration shall be equal to the
arithmetic average of the annual bonuses paid to the Executive during the three
completed years prior to the year in which his termination occurs, provided that
if such termination occurs prior to the completion of three years of the
Executive’s employment hereunder, entitlement to bonus remuneration shall be
calculated, mutatis mutandis, on the basis of the annual bonuses paid or
payable to the Executive in respect of the completed year or years, if any,
prior to the year of such termination.
The payments referred to in clause (a) of this
section 6.3 above shall be guaranteed and shall not be subject to set-off or
deduction as a result of the Executive obtaining alternative employment
following such termination or otherwise mitigating any damages arising from such
termination. Further, such payments are inclusive of all statutory
obligations, including statutory termination and severance payments, which may
be owed to the Executive.
6.4.
Termination following a Change of
Control.
In the event of a Change of Control of the Company,
the Executive may elect to resign his employment by giving written notice to the
Company within 60 days following the date of occurrence of such Change of
Control of the Company, in which event the Executive’s employment hereunder
shall be deemed to have been Terminated Without Cause by the Company and the
provisions of section 6.3 shall thereby apply effective as of the date of such
notice.
6.5.
Termination Without Cause upon
Disability.
If the employment of the Executive is terminated
by the Company because of a Disability, the Executive shall be deemed to have
been Terminated Without Cause and the provisions of section 6.3 hereof shall
thereby apply effective as of the date of such termination, provided that the
amount payable to the Executive under subsection 6.3(a) hereof shall be reduced
by an amount equal to the aggregate amount of any disability benefits payable to
the Executive under any disability insurance carried by the Company in respect
of the year immediately following the date of such termination.
6.6.
Cessation of Duties and Obligations
of the Company
. Unless otherwise agreed, the Executive shall
upon receiving any notice of termination of his employment hereunder, whether or
not purported to constitute prior notice, forthwith cease to perform his duties
and responsibilities and cease to attend the Company’s premises. The
Company’s obligations pursuant to this section 6 with respect to the termination
of the Executive’s employment hereunder shall commence as of the date of receipt
of such notice of termination except where otherwise provided herein.
6.7.
Resignation or Retirement of the
Executive
. The Executive shall provide the Company with
three months prior written notice of his resignation or retirement from the
Company, except in the case of Change of Control of the Company in respect of
which section 6.4 hereof is applicable.
6.8.
Material Change in Duties and
Responsibilities
. If there has been a material change in the
Executive’s duties and responsibilities such as he is required to assume duties
that are not consistent with, or to relinquish duties that are consistent with,
those set out in section 2.1 or a material reduction in his annual remuneration,
and such change is unacceptable to the Executive, the Company shall be
considered for all purposes of this agreement to have delivered a notice of
Termination Without Cause on the date of such change terminating the Executive’s
employment and section 6.3 hereof shall thereby apply effective as of such
date.
6.9.
Deductions and
Withholdings
. All payments made to the Executive pursuant to
this section 6 shall be subject to applicable deductions and withholdings.
6.10.
Complete Satisfaction.
Compliance by the Company with its obligations pursuant to this section 6
hereof shall constitute full and final satisfaction of any entitlement which the
Executive may have with respect to the termination of his employment hereunder,
including without limitation, any entitlement to notice, pay in lieu of notice
or severance, whether arising under contract, statute or otherwise, and the
Executive shall have no action, cause of action, claim or demand, either under
statutory or common law, against the Company or any other Person as a
consequence of such termination.
6.11.
Return of Property.
In the event of the termination of the Executive’s employment hereunder
for any reason, including resignation or retirement, the Executive will
immediately return to the Company all property of the Company in his possession
or under his control.
7.
Inventions,
Etc.
7.1
The Executive agrees that any and all operational
and scientific information, including but not limited to, marketing, business
plans, formulae, processes, designs, computer software and programmes and
inventions which the Executive may conceive or make or have conceived or made in
the course or arising out of his employment with the Company (collectively, the
“Works”) shall be and are the sole and exclusive property of the Company and
shall be disclosed by the Executive to the Company. The Executive shall,
whenever requested to do so by the Company, and without any obligation on the
part of the Company to pay any royalty or other compensation to the Executive,
at the Company’s expense execute and sign any and all applications, assignments
or other instruments and do all other things which the Company may deem
necessary or appropriate:
(i)
in order to apply for, obtain, maintain, enforce
or defend letters patent in Canada or in any foreign country for any Works;
or
(ii)
in order to assign, transfer, convey or otherwise
made available to the Company the sole and exclusive rights, title and interest
in and to any Works.
The Executive also agrees to waive in whole any
moral rights which it may have in any Works or any part or parts thereof.
8.
Non-Competition
The Executive shall not during the Employment
Period and the 12 months immediately thereafter (except in the event of a Change
of Control of the Company), directly or indirectly, in any manner whatsoever
including, without limitation, either individually, or in partnership, jointly
or in conjunction with any other Person, or as an employee, principal, agent,
director or shareholder:
(i)
be engaged in any undertaking;
(ii)
have any financial or other interest (including
an interest by way of royalty or other compensation arrangements) in or in
respect of the business of any Person; or
(iii)
advise, lend money to, guarantee the debts or
obligations of any Person which carries on a business;
anywhere in Canada which is the same as or
substantially similar to or competes with or would compete with the business
carried on by the Company or any of its Affiliates during the Employment
Period.
Notwithstanding the foregoing, nothing herein
shall prevent the Executive from owning up to 5% of the issued shares of a
corporation, the shares of which are listed on a recognized stock exchange or
publicly traded on an over-the-counter market, which carries on a business which
is the same as or substantially similar to or which competes with or would
compete with the business of the Company or any of its Affiliates.
9.
No Solicitation of
Customers
The Executive shall not, during the Employment
Period and for the 12 months immediately thereafter (except in the event of a
Change of Control of the Company), directly or indirectly, contact or solicit
any designated customers of the Company or any of its Affiliates for the purpose
of selling to the designated customers any services or products which are the
same as or substantially similar to, or in any way competitive with, the
services or products sold by the Company or any of its Affiliates during the
Employment Period. For the purpose of this section, a designated customer means
a Person who was a customer of the Company or of any of its Affiliates during
some part of the Employment Period.
10.
No Solicitation of
Employees
The Executive shall not, during the Employment
Period and for the 12 months immediately thereafter (except in the event of a
Change of Control of the Company), directly or indirectly, employ or retain as
an independent contractor any employee of the Company or any of its Affiliates
or induce or solicit, or attempt to induce, any such Person to leave his or her
employment.
11.
Confidentiality
The Executive shall not, either during the
Employment Period hereunder or at any time thereafter, directly or indirectly,
use or disclose to any Person any Confidential Information provided, however,
that nothing in this section shall preclude the Executive from disclosing or
using Confidential Information, if:
11.1.
the Confidential Information is available to the
public or in the public domain at the time of such disclosure or use, without
breach of this Agreement;
11.2.
disclosure of the Confidential Information is
required to be made by any law, regulation, governmental authority or court;
or
11.3.
the Confidential Information was received by the
Executive after termination of the Employment Period from a third party who had
a lawful right to disclose it to the Executive.
12.
Remedies
The Executive acknowledges that a breach or
threatened breach by the Executive of the provisions of sections 8 to 11,
inclusive, may result in the Company and its shareholders suffering irreparable
harm which is not capable of being calculated and which cannot be fully or
adequately compensated by the recovery of damages alone. Accordingly, the
Executive agrees that the Company shall be entitled to interim and permanent
injunctive relief, specific performance and other equitable remedies, in
addition to any other relief to which the Company may become entitled.
13.
Co-operation by
Executive
The Executive shall co-operate in all respects
with the Company if the question arises as to whether a Disability has occurred.
Without limiting the generality of the foregoing, the Executive shall authorize
the Executive’s medical doctor or other health care specialist to discuss the
condition of the Executive with the Company and shall submit to examination by a
medical doctor or other health care specialist selected by the Company, acting
reasonably.
14.
Representation of
Executive
The Executive represents and warrants to the
Company that he is not a party to, or bound by, any agreement or understanding
with any other Person that precludes or restricts his ability and entitlement in
any way to carry out his duties of employment with the Company as contemplated
herein, free and clear of any claims or liabilities of whatsoever nature.
15.
Arbitration
(a)
Any dispute between the parties hereto in respect
of the interpretation of this Agreement or otherwise arising under this
Agreement which cannot be resolved by the parties acting in good faith within a
period of 30 days following the giving of a written notice by one party to the
other party hereto (the “Notice Period”) will be determined by
arbitration.
(b)
If a dispute is not resolved within the Notice
Period, either party hereto may thereafter by written notice delivered to the
other party hereto demand arbitration of such dispute as herein provided.
(c)
Upon a demand for arbitration as set forth above,
the parties hereto will within 10 days from the date on which notice of the
demand is given, appoint a single arbitrator to resolve the dispute and, failing
such appointment, either party may apply to have a single arbitrator appointed
by the British Columbia International Commercial Arbitration Centre in which
case the dispute shall be arbitrated in accordance with such Centre’s Rules of
Procedure.
(d)
The place of arbitration will be Vancouver,
British Columbia and the decision of the arbitrator will be final and binding
upon the parties hereto.
(e)
All costs of the arbitration, other than the
costs of any counsel engaged by the Executive, will be for the account of the
Company.
16.
Notices
Any notice or other communication required or
permitted to be given hereunder shall be in writing and shall be given by
prepaid first-class mail, by facsimile or other means of electronic
communication or by hand-delivery as hereinafter provided, except that any
notice of termination by the Company under section 6 shall be hand-delivered or
given by registered mail. Any such notice or other communication, if mailed by
prepaid first-class mail at any time other than during a general discontinuance
of postal service due to strike, lockout or otherwise, shall be deemed to have
been received on the fourth Business Day after the post-marked date thereof, or
if mailed by registered mail, shall be deemed to have been received on the day
such mail is delivered by the post office, or if sent by facsimile or other
means of electronic communication, shall be deemed to have been received on the
Business Day following the sending, or if delivered by hand shall be deemed to
have been received at the time it is delivered in person to the Executive or to
the Company at its address noted below either to the individual designated below
or to an individual at such address having apparent authority to accept
deliveries on behalf of the Company. Notice of change of address shall also be
governed by this section. In the event of a general discontinuance of postal
service due to strike, lock-out or otherwise, notices or other communications
shall be delivered by hand or sent by facsimile or other means of electronic
communication and shall be deemed to have been received in accordance with this
section. Notices and other communications shall be addressed as follows:
(a)
if to the Company:
Communicate.com Inc.
Suite 600
1100 Melville Street
Vancouver, British Columbia
V6E 4A6
(b)
if to the Executive:
C. Geoffrey Hampson
2476 West 5
th
Ave
Vancouver, British Columbia
V6K 1S8
17.
Headings
The inclusion of headings in this Agreement is
for convenience of reference only and shall not affect the construction or
interpretation hereof.
-12-
18.
Invalidity of
Provisions
Each of the provisions contained in this
Agreement is distinct and severable and a declaration of invalidity or
unenforceability of any such provision by a court of competent jurisdiction
shall not affect the validity or enforceability of any other provision
thereof.
19.
Entire
Agreement
This Agreement constitutes the entire agreement
between the parties pertaining to the subject matter of this Agreement. This
Agreement supersedes and replaces all prior agreements if any, written or oral,
with respect to the Executive’s employment by the Company and any rights which
the Executive may have by reason of any such prior agreement. There are no
warranties, representations or agreements between the parties in connection with
the subject matter of this Agreement except as specifically set forth or
referred to in this Agreement. No reliance is placed on any representation,
opinion, advice or assertion of fact made by the Company or its directors,
officers and agents to the Executive, except to the extent that the same has
been reduced to writing and included as a term of this Agreement. Accordingly,
there shall be no liability, either in tort or in contract, assessed in relation
to any such representation, opinion, advice or assertion of fact, except to the
extent aforesaid.
20.
Waiver,
Amendment
Except as expressly provided in this Agreement,
no amendment or waiver of this Agreement shall be binding unless executed in
writing by the party to be bound thereby. No waiver of any provision of this
Agreement shall constitute a waiver of any other provision nor shall any waiver
of any provision of this Agreement constitute a continuing waiver unless
otherwise expressly provided.
21.
Currency
All amounts in this Agreement are stated and
shall be paid in Canadian currency.
22.
Governing
Law
This Agreement shall be governed by and construed
in accordance with the laws of the Province of British Columbia and the laws of
Canada applicable therein.
23.
Counterparts
This Agreement may be signed in counterparts and
each of such counterparts shall constitute an original document and such
counterparts, taken together, shall constitute one and the same
instrument.
-13-
24.
Acknowledgment
The Executive acknowledges that:
24.1.
the Executive has had sufficient time to review
and consider this Agreement thoroughly;
24.2.
the Executive has read and understands the terms
of this Agreement and the Executive’s obligations hereunder; and
24.3.
the Executive has been given an opportunity to
obtain independent legal advice, or such other advice as the Executive may
desire, concerning the interpretation and effect of this Agreement.
IN WITNESS WHEREOF
the parties
have executed this Agreement as of the day and year first above written.
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COMMUNICATE.COM
INC.
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By:
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/s/
David M.
Jeffs
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Witness
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)
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)
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/s/
witness
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)
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/s/
C. Geoffrey Hampson
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C.
GEOFFREY HAMPSON
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