Owner
Post by Franko10 ™ on Dec 20, 2007 12:49:05 GMT -5
Clarifications and Amendments To Employment Agreement
In an attempt to clear up some misunderstandings regarding participation with the present John Martin, et al, CMKX Owners Group, I have agreed to amend the employment agreement as follows:
Questions Concerning A Class Action Lawsuit
1.01 of the agreement explains the purpose of representation. There have been concerns that this group is bringing a class action against either management or some other third party. If any shareholder had a desire to bring a class action suit against any party, that shareholder would have to hire new counsel and sign a new employment agreement with a different attorney. This group has been formed to protect the rights of the shareholders in the present action being brought by the SEC against the company. The following words have been inserted into 1.01:
It is not the purpose of this representation to assert any class litigation against the Company or any third parties. The client’s rights to bring a class action suit against any party are not effected by this agreement.
Questions Concerning The Investigation Of Naked Shorting Of CMKX Stock
The attorney for this group has a legal obligation to investigate all matters which he deems necessary to protect the legal rights of the shareholders. It is believed by the group’s attorney that a large naked short position exists in CMKX stock. If further investigation reveals that there is in fact evidence of a significant naked short position AND that such naked short position is related to this SEC proceeding, the group’s attorney will use this evidence to the benefit of the shareholders as appropriate. Any investigation into “naked shorting” of company stock will be done in cooperation with the company. The following words have been inserted into the employment agreement as part D. under paragraph 1.01.
D. It is expected that some of the investigation necessary to protect the rights of the shareholder in this proceeding will involve inquiries into “naked shorting” of company stock. Investigations in this area will be undertaken in cooperation with the company.
Questions Of Limiting The Shareholder’s Abilities To Freely Trade CMKX Stock
Membership in this group is a voluntary act. Joining this group simply means you are supporting the actions of the owners’ group. You are not obligating your stock in any way by joining this group. Neither the group, nor the group’s attorney, acquires any interest in the client’s stock holdings. The client is free to buy and sell his or her shares as they see fit. No permission from any person is required for the client to perform any act relating to his or her shares. As in any investment, it may be appropriate or necessary to sell one’s stock or buy additional stock. Such acts are not affected by being a member of this group. The attorney has added the following language to paragraph 1.01 part E.
E. The act of submitting the number of shares owned to the undersigned counsel does not amount to any transfer of ownership and does not allow counsel to obligate client’s shares in any way. Client is free to buy and sell such company stock as the client sees fit.
Questions Regarding Joining And Leaving The Group
The express purpose of the group is to have an organized group of shareholders that own a significant number of shares in the company. It is believed that the company will benefit in many ways by having a large number of shareholders that has their voices heard as a cohesive group. The primary purpose of this representation is to intervene in the proceeding brought by the SEC against the company. There will be representations in legal documents of the number of shareholders in this group and the number of shares owned by the group. Unless specific individual verification is required by the Court, the numbers represented will be approximate numbers. Because I will be making representations to the Court, as an officer of the Court, I must have some independent basis for mentioning such numbers in court filed documents. Hence, I must obtain something in writing to the law firm representing the member’s respective holdings. Such information is confidential and will not be disclosed to others without the shareholder’s consent. A shareholder is free to leave the group at any time. The only thing necessary to “leave” the group is simply a fax or email to the law firm indicating such a desire. You will then be removed from the list. It is unknown how long it will take to resolve the proceeding being brought by the SEC. Mr. Martin has agreed to allow members to join this group at any time. Because a significant administrative expense is being incurred at the law firm to accommodate a large group of clients for this case, the sign up fee as indicated is non-refundable even if one decides to withdraw from the group.
In an attempt to clear up some misunderstandings regarding participation with the present John Martin, et al, CMKX Owners Group, I have agreed to amend the employment agreement as follows:
Questions Concerning A Class Action Lawsuit
1.01 of the agreement explains the purpose of representation. There have been concerns that this group is bringing a class action against either management or some other third party. If any shareholder had a desire to bring a class action suit against any party, that shareholder would have to hire new counsel and sign a new employment agreement with a different attorney. This group has been formed to protect the rights of the shareholders in the present action being brought by the SEC against the company. The following words have been inserted into 1.01:
It is not the purpose of this representation to assert any class litigation against the Company or any third parties. The client’s rights to bring a class action suit against any party are not effected by this agreement.
Questions Concerning The Investigation Of Naked Shorting Of CMKX Stock
The attorney for this group has a legal obligation to investigate all matters which he deems necessary to protect the legal rights of the shareholders. It is believed by the group’s attorney that a large naked short position exists in CMKX stock. If further investigation reveals that there is in fact evidence of a significant naked short position AND that such naked short position is related to this SEC proceeding, the group’s attorney will use this evidence to the benefit of the shareholders as appropriate. Any investigation into “naked shorting” of company stock will be done in cooperation with the company. The following words have been inserted into the employment agreement as part D. under paragraph 1.01.
D. It is expected that some of the investigation necessary to protect the rights of the shareholder in this proceeding will involve inquiries into “naked shorting” of company stock. Investigations in this area will be undertaken in cooperation with the company.
Questions Of Limiting The Shareholder’s Abilities To Freely Trade CMKX Stock
Membership in this group is a voluntary act. Joining this group simply means you are supporting the actions of the owners’ group. You are not obligating your stock in any way by joining this group. Neither the group, nor the group’s attorney, acquires any interest in the client’s stock holdings. The client is free to buy and sell his or her shares as they see fit. No permission from any person is required for the client to perform any act relating to his or her shares. As in any investment, it may be appropriate or necessary to sell one’s stock or buy additional stock. Such acts are not affected by being a member of this group. The attorney has added the following language to paragraph 1.01 part E.
E. The act of submitting the number of shares owned to the undersigned counsel does not amount to any transfer of ownership and does not allow counsel to obligate client’s shares in any way. Client is free to buy and sell such company stock as the client sees fit.
Questions Regarding Joining And Leaving The Group
The express purpose of the group is to have an organized group of shareholders that own a significant number of shares in the company. It is believed that the company will benefit in many ways by having a large number of shareholders that has their voices heard as a cohesive group. The primary purpose of this representation is to intervene in the proceeding brought by the SEC against the company. There will be representations in legal documents of the number of shareholders in this group and the number of shares owned by the group. Unless specific individual verification is required by the Court, the numbers represented will be approximate numbers. Because I will be making representations to the Court, as an officer of the Court, I must have some independent basis for mentioning such numbers in court filed documents. Hence, I must obtain something in writing to the law firm representing the member’s respective holdings. Such information is confidential and will not be disclosed to others without the shareholder’s consent. A shareholder is free to leave the group at any time. The only thing necessary to “leave” the group is simply a fax or email to the law firm indicating such a desire. You will then be removed from the list. It is unknown how long it will take to resolve the proceeding being brought by the SEC. Mr. Martin has agreed to allow members to join this group at any time. Because a significant administrative expense is being incurred at the law firm to accommodate a large group of clients for this case, the sign up fee as indicated is non-refundable even if one decides to withdraw from the group.
