CONSULTING AGREEMENT
This Consulting Agreement (this "Agreement") is entered into as of the 17th
day of April, 2007 by and between Point Acquisition Corporation., a Nevada
corporation ("PAC"), and Xxxxxxx Xxxxx (the "Consultant").
RECITALS
Whereas, Consultant is willing to provide to PAC the consulting services
identified in this Agreement; and.
Whereas, PAC is willing to engage Consultant as an independent contractor,
and not as an employee, on the terms and conditions set forth herein.
AGREEMENT
In consideration of the foregoing and of the mutual promises set forth
herein, and intending to be legally bound, the parties hereto agree as follows:
1. Engagement. PAC hereby engages Consultant as an independent contractor to
provide assistance to PAC in its efforts to consummate a combination transaction
with a privately held entity with current business operations.
2. Term. This Agreement will commence on the date first written above, and
unless modified by the mutual written agreement of the parties, shall continue
until such time a as a going public transaction is consummated.
3. Compensation. In consideration of the services to be performed by Consultant,
PAC agrees to issue to Consultant 127,040 shares of restricted common stock.
4. Representations and Warranties. Consultant represents and warrants (i) that
Consultant has no obligations, legal or otherwise, inconsistent with the terms
of this Agreement or with Consultant's undertaking this relationship with PAC,
(ii) that Consultant will not use in the performance of its responsibilities
under this Agreement any confidential information or trade secrets of any other
person or entity and (iii) that Consultant has not entered into or will enter
into any agreement (whether oral or written) in conflict with this Agreement.
5. Limited Liability. Consultant shall not be liable to PAC, or to anyone who
may claim any right due to its relationship with the PAC, for any acts or
omissions on the part of the Consultant or the agents or employees of the
Consultant in the performance of Consultant's services under this Agreement. PAC
shall hold Consultant free and harmless from any obligations, costs, claims,
judgments, attorney's fees, or attachments arising from or in any way related to
the services rendered to PAC.
6. Material Non-Public Information. Consultant understands that as a result of
this Agreement Consultant may become privileged to material, non-public
information concerning the Company and its operations. As such, Consultant
hereby agrees not to trade in the Company's securities at any time it possesses
material, non-public information regarding the Company or its operations.
7. Governing Law. This Agreement shall be governed by the laws of the State of
Nevada.
8. Miscellaneous. If any action at law or in equity is necessary to enforce or
interpret the terms of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees, costs. This Agreement shall be binding on and inure
to the benefit of the parties to it and their respective successors and assigns.
Executed on the day and year first above written.
Point Acquisition Corporation Consultant
By:/s/Xxxxxxx X. Xxxxxx By:/s/Xxxxxxx Xxxxx
Xxxxxxx X. Xxxxxx, President
