Consulting Agreement
Exhibit
99.3
This
Agreement is made effective as of December 13, 2007 (the “Effective Date”) by
and between Aware, Inc., 00 Xxxxxxxxx Xxxxxxxx, Xxxxxxx, Xxxxxxxxxxxxx
00000-0000 (herein referred to as Aware), and Xxxxxxx Xxxxxx,
xxxxxxxxxxxxxxxxxx(herein referred to as Consultant).
WHEREAS,
Consultant has experience in finance and operations and is willing to provide
services to Aware based on this experience; and
WHEREAS,
Aware desires to have Consultant provide consulting services, on the terms
and
conditions set forth in this Agreement.
THEREFORE,
the parties agree as follows:
1.
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DESCRIPTION
OF SERVICES. Consultant will provide finance and operations
consulting services (“Services”) to Aware. Consultant will
provide the Services primarily at Aware’s offices at 00 Xxxxxxxxx
Xxxxxxxx, Xxxxxxx, Xxxxxxxxxxxxx.
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2.
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PAYMENT. Aware
will pay the Consultant for Services performed at the rate of $120.00
per
hour. Fees for Services shall be payable upon receipt of
invoice. Upon termination of this Agreement, payments under
this paragraph shall cease; provided, however, that Consultant
shall be
entitled to payments for Services rendered prior to the date of
termination, and for which Consultant has not yet been
paid.
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3.
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EXPENSE
REIMBURSEMENT. Consultant shall be entitled to
reimbursement for all reasonable and customary "out-of-pocket"
business
expenses, provided, however, that such expenses are approved by
Aware in
writing prior to expenditure.
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4.
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TERM/TERMINATION. This
Agreement shall begin on or about January 2, 2008 and terminate
on or
about February 15, 2008. Aware may terminate this Agreement at
any time, with or without cause, upon formal notice to the
Consultant.
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5.
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RELATIONSHIP
OF PARTIES. It is understood by the parties that
Consultant is an independent contractor with respect to Aware,
and not an
employee of Aware. Aware will not provide fringe benefits,
including health insurance benefits, payroll taxes, paid vacation
or other
compensated absences, or any other employee benefit, for the benefit
of
Consultant.
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6.
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CONFIDENTIALITY. Consultant
and Aware agree to be bound by the Consultant Non-Disclosure And
Intellectual Property Agreement, attached to this Agreement as
Exhibit
A.
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7.
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NOTICES. All
notices required or permitted under this Agreement shall be in
writing and
shall be deemed delivered when delivered in person, via facsimile
or via
United States mail or overnight delivery
services.
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8.
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ENTIRE
AGREEMENT. This Agreement, including the appendices
attached hereto, contains the entire agreement of the parties with
respect
to the subject matter hereof. There are no agreements, understandings,
covenants, conditions or undertakings, oral or written, express
or
implied, concerning such subject matter that are not merged herein
or
superseded hereby.
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9.
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AMENDMENT. This
Agreement may be modified or amended if the amendment is made in
writing,
signed by both parties, and attached to this
Agreement.
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10.
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SEVERABILITY. If
any provision of this Agreement shall be held to be invalid or
unenforceable for any reason, the remaining provisions shall continue
to
be valid and enforceable.
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11.
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WAIVER
OF CONTRACTUAL RIGHT. The failure of either party to
enforce any provision of this Agreement shall not be construed
as a waiver
or limitation of that party's right to subsequently enforce and
compel
strict compliance with every provision of this
Agreement.
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12.
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APPLICABLE
LAW. This Agreement shall be governed by the laws of
the Commonwealth of Massachusetts.
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Aware, Inc. | Consultant |
By: /s/ Xxxxxxx X. Xxxxxxx | By: /s/ Xxxxxxx Xxxxxx |
Date: December 17, 2007 | Date: December 17, 2007 |
EXHIBIT
A
CONSULTANT
NON-DISCLOSURE
AND
INTELLECTUAL PROPERTY AGREEMENT
THIS
AGREEMENT is between Aware, Inc., a Massachusetts corporation with principal
offices at 00 Xxxxxxxxx Xxxxxxxx, Xxxxxxx XX (hereinafter "the Company"),
and
Xxxxxxx Xxxxxx (hereinafter "Consultant").
WHEREAS,
Consultant has been or is
being engaged by the Company to work in the position of consultant with respect
to finance and operations, because of Consultant's extraordinary ability;
and
WHEREAS,
said engagement is of a
confidential nature involving duties that require the Company to impose on
Consultant the highest trust and confidence;
NOW,
THEREFORE, in consideration of
the initiation or the continuation of engagement, of other good and valuable
consideration received by Consultant, receipt of which is hereby acknowledged,
and of the mutual promises and covenants contained herein, the parties agree
as
follows:
1. Definitions
a.
Subsidiary
As
used herein, the term "Subsidiary"
means any corporation in which not less than 50% of the outstanding capital
stock granting voting power to elect a majority of its Board of Directors
is
owned, directly or indirectly, by the Company.
b. Proprietary
Information
As
used herein, the term "Proprietary
Information" refers to any and all information of a confidential, proprietary,
or secret nature that is or may be either applicable to, or related in any
way
to (i) the business, present or future, of the Company or any Subsidiary,
(ii)
the research and development or investigations of the Company or of any
Subsidiary or (iii) any inventions. Proprietary Information includes,
for example and without limitation, trade secrets, processes, formulas, data,
know-how, improvements, inventions, techniques, marketing plans and strategies,
forecasts, unpublished financial information, budgets, licenses, prices,
costs,
laboratory notebooks, customer lists, customer information, supplier
information, code, invention records, flowcharts, designs, schematics and
other
information concerning products, customers or vendors. In particular,
Consultant acknowledges that all information arising out of or relating to
the
Company's data and broadband communications technology including the Company’s
digital subscriber line (“DSL”) technology, such as: Asymmetric Digital
Subscriber Line (“ADSL”), ADSL2/2+, xDSL, VDSL, VDSL, VeDSL™, DMTflex™,
FastADSL™, Dr. DSL®, SDSL, ShDSL, StratiPHY and DSL-Lite technology, as well as
Discrete Multi-tone (“DMT”) technology, including splitterless DMT technology,
the Company’s test and diagnostic business and technology and the Company’s
biometric business and technologies and other technologies, and all work
performed by the Consultant during the period of engagement, shall be deemed
Proprietary Information of the Company.
2.
Engagement
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(a)
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The
Company has hired Consultant to work on such tasks as shall be
specified
from time to time. This engagement may be terminated the
Company with or without cause at any
time.
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(b)
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The
parties agree that Consultant is an independent contractor, and
will not
be considered to be an employee of the Company for any
purpose.
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3. Confidential
Information of Others
If
the Consultant possesses any
confidential information or documents belonging to others, Consultant will
not
use, disclose to the Company, or induce the Company to use, any such information
or documents during his or her engagement. Consultant represents that his
or her
engagement will not require Consultant to violate any obligation to or
confidence with another.
4.
Proprietary Information to be Kept In Confidence
Consultant
acknowledges that the
Proprietary Information is a special, valuable, and unique asset of the Company,
and Consultant agrees at all times during the period of engagement and
thereafter to keep in confidence and trust all Proprietary
Information. Consultant agrees that during the period of engagement
and thereafter Consultant will not directly or indirectly use the Proprietary
Information other than in the course of performing duties as an Consultant
of
the Company, nor will Consultant directly or indirectly disclose any Proprietary
Information or any information relating thereto to any person or entity,
except
in the course of performing duties as an Consultant of the Company and with
the
written consent of the Company. Consultant will abide by the
Company's policies and regulations, as established and revised from time
to
time, for the protection of its Proprietary Information.
5. Return
of Materials at Termination
In
the event of the expiration of the
initial engagement with the Company or in the event of termination of engagement
with the Company for any reason, Consultant will promptly deliver to the
Company, or any Subsidiary designated by it, all Company documents, data,
records, and other information, and Consultant shall not take any documents
or
data, or any reproduction or excerpt of any documents or data, containing
or
pertaining to any Proprietary Information.
6.
Covenant Not to Recruit or Solicit Aware Employees
Without
the prior express written consent of the Company, during the term of this
Agreement and for a period of one (1) year thereafter, Consultant agrees
not to
directly or indirectly recruit or otherwise solicit or induce any employees
of
the Company to terminate their employment with, or otherwise cease their
relationship with the Company.
7.
Injunction
Consultant
agrees that it would be
difficult to measure damage to the Company from any breach by Consultant
of the
promises set forth in Paragraphs 4, 5 and 6 herein; that injury to the Company
from any such breach would be impossible to calculate, and that money damages
would therefore be an inadequate remedy for any such
breach. Accordingly, Consultant agrees that if Consultant breaches
any provision of these Paragraphs, the Company shall be entitled, in addition
to
all other remedies it may have, to injunctions or other appropriate orders
to
restrain any such breach by Consultant without showing or proving any actual
damage sustained by the Company.
8.
General
(a) To
the extent that any
of the agreements set forth herein, or any word, phrase, clause or sentence
thereof, shall be found to be illegal or unenforceable for any reason, such
agreement, word, clause, phrase, or sentence shall be modified or deleted
in
such manner as to make the agreement as modified legal and enforceable under
applicable laws, and the balance of the agreements or part thereof shall
not be
affected thereby, the balance being construed as severable and
independent.
(b) This
Agreement shall be
binding upon Consultant and Consultant's heirs, executors, assigns, and
administrators and shall inure to the benefit of the Company, its successors
and
assigns, and any Subsidiary.
(c)
The failure of either party to
enforce any right resulting from breach of any provision of this Agreement
by
the other party will not be deemed a waiver of any right relating to a
subsequent breach of such provision or of any other right
hereunder.
(d)
This Agreement shall be governed by
the laws of the Commonwealth of Massachusetts, which state shall have
jurisdiction of the subject matter hereof. All
disputes arising out of this Agreement shall be subject to the exclusive
jurisdiction of the state and federal courts located in Massachusetts, and
the
parties agree and submit to the personal and exclusive jurisdiction and venue
of
these courts.
(e) This
Agreement may be
signed in two counterparts, each of which shall be deemed an original and
that
together shall constitute one instrument.
(f) The
use of the singular
in this Agreement includes the plural, as appropriate.
(g) This
Agreement
represents the entire agreement between Consultant and the Company with respect
to the subject matter hereof, superseding all previous oral or written
communications, representations, or agreements. This Agreement may be
modified only by a duly authorized representative of the Company and said
modification must be executed in writing.
Aware, Inc. | Consultant |
Dated: December 17, 2007 | Dated: December 17, 2007 |
By /s/ Xxxxxxx X. Xxxxxxx | /s/ Xxxxxxx Moberg_________________ |
(Signature) | (Signature) |
Xxxxxxx X. Xxxxxxx | Xxxxxxx Moberg___________________ |
(Typed or Printed Name) | (Typed or Printed Name) |