EXHIBIT 10.2
RESEARCH AGREEMENT WITH GENETHERA, INC.
EXHIBIT 10.2
RESEARCH AGREEMENT
WHEREAS: This contract is entered into between Xpention Genetics, Inc., a
company organized under the laws of Nevada, having its business office at 00000
Xxxxxxxxx Xxxxx, Xxxxxxx, XX. 00000 (the "Company") and Genethera, Inc., a
corporation organized under the laws of Colorado, having its business office at
0000 Xxxxxxxxxx Xxxxxx, Xxxxxxxxxx, XX. 00000 (the "Contractor").
THEREFORE: In consideration of the foregoing and the mutual promises, covenants
and agreements herein set forth, the Company and the Contractor agree as
follows:
1. Scope of Work
Contractor agrees to perform for the Company the research activities for
the project entitled "Development of the p65 Molecular Assay for
Humans-Phase I" (the Contract") described in Attachment A hereto.
2. Contract Period
This Contract shall become effective on July 28, 2005, and shall be
completed on July 28, 2006 unless subsequent time extension, supplement,
addition, continuation or renewal is mutually agreed upon in writing
between the parties.
3. Standard of Performance
Contractor shall perform the Work in a manner consistent with the highest
standards of scientific and professional skill and in accordance with the
terms and conditions of this Agreement. Xxxxxxx Xxxxxx, M.D., Ph.D. ,
Genethera's designated Principal Investigator for the project (the "PI"),
shall monitor Contractor's performance hereunder and shall notify the
Company of Contractor's failure to comply with the terms of this Agreement
within a reasonable time after Genethera learns of such failure.
4. Assignment
Neither party shall assign or transfer any interest in this agreement, nor
assign any claims for money due or to become due under this agreement
without the prior written approval of the other party.
5. Payments to Subcontractor
The estimated cost for Contractors completion of the Work, including
indirect charges, is $10,000 per month. Payments by the Company to the
Contractor shall be made in accordance with the following:
a) Upon commencement of the Work, Contractor shall submit invoices
(Attachment B), and such other reasonable documentation as
requested by the Company, at approximately thirty (30) day
intervals for payment of costs associated with the Contract.
b) Payments shall be made to Contractor within thirty (30) days
after the Company receives the invoice thereof.
6. Indemnification
Each party hereto agrees to be responsible and assume liability for its
own wrongful or negligent acts or omissions, or those of its officers,
agents or employees to the full extent required by law, and agrees to hold
the other party harmless from any such liability. The Contractor does not
warrant or assume liability for the interpretation or use of project data
or results.
7. Equipment
Special equipment purchases under the terms of this agreement become the
property of Genethera, Inc. unless otherwise specified herein.
8. Publications
Genethera, Inc. shall be sited in all research reports and other
publications relating to the work under this Agreement.
9. Law
This Agreement is entered into pursuant to and under the authority granted
by the laws of the state of Colorado and any applicable federal laws. The
provisions of this Agreement shall be construed to conform to those laws.
10. Termination
This Agreement may be terminated by either of the parties hereto upon
written notice delivered to the other party at least thirty (30) days
prior to intended date of termination. By such termination, neither party
may nullify obligations already incurred for performance or failure to
perform prior to the date of termination. Contractor acknowledges that
Company's obligations under this Contract are contingent upon funding.
11. Changes and Amendments
This Contract constitutes the entire agreement between the parties. All
amendments and /or changes shall be by written instrument executed by the
parties hereto.
IN WITNESS WHEREOF, the parties hereto have caused this contract to be
executed as of the date set forth herein by their duly authorized
representatives.
GENETHERA, INC. XPENTION GENETICS, INC.
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Xxxx Xxxxxx, M.D., PhD. Date Xxxxx X. Xxxxxxxx Date
President and CEO President and CEO
ATTACHMENT A, SCOPE OF WORK
DESCRIPTION:
ATTACHMENT C, BUDGET
Salaries and Wages $ 0
Fringe Benefits 0
Travel 0
Supplies/services 0
Equipment 0
Subcontracts 0
Other Direct Costs 0
-------
Total Direct Costs
Indirect Cost
[ % MTDC of $ ]
-------
Total Cost $
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ATTACHMENT B, INVOICE FORMAT
