CONSULTING AGREEMENT AMENDMENT
Exhibit 10.1
CONSULTING AGREEMENT AMENDMENT
CONSULTING AGREEMENT AMENDMENT (this
"Amendment"), effective as of January 1, 2017, by and
among Pharma-Bio Serv, Inc., a Delaware corporation (the
“Company”), Strategic Consultants International, LLC, a
Puerto Rico registered Limited Liability Corporation (the
“Consultant”), and Xxxxxxxxx Plaza, residing in Dorado,
Puerto Rico (“Plaza”).
W I T N
E S S E T H:
WHEREAS, the Company, Consultant and
Plaza have entered into that certain Consulting Agreement,
effective as of January 1, 2014, as such Consulting Agreement has
been and may be amended, restated or otherwise modified from time
to time (the "Consulting Agreement"). Capitalized terms used but
not defined herein shall have the meaning ascribed to such terms in
the Consulting Agreement; and
WHEREAS, the Company, Consultant and
Plaza desire to modify the Consulting Agreement.
NOW THEREFORE, for good and
valuable consideration, the receipt and adequacy of which is hereby
acknowledged, the parties hereto agree as follows:
1.
The following shall
be added to the end of Section 2 of the Consulting
Agreement:
This
agreement shall be extended through December 31, 2017. For purposes
of this Agreement, “Extension Term” shall mean the
period from January 1, 2017 through December 31, 2017.
2.
The following
sentence shall be deleted at the end of Section 5 of the Consulting
Agreement:
For the
full and proper performance of this Agreement, the Company agrees
to compensate Consultant a monthly retainer of $31,500 during the
Extension Term.
3.
Except as expressly
amended by the terms of this Amendment and all prior amendments to
the Consulting Agreement, the terms of the Consulting Agreement
shall remain in effect and are unchanged by this
Amendment.
IN WITNESS WHEREOF, the parties have
executed this Amendment in Dorado, Puerto Rico, this 17th day of
January, 2017.
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By:
/s/ Xxxxx X.
Xxxxxxx
Name: Xxxxx
X. Xxxxxxx
Title: Chief
Financial Officer and Vice President- Finance and
Administration and Secretary
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STRATEGIC CONSULTANTS INTERNATIONAL LLC:
By:
/s/ Xxxxxxxxx
Plaza
Name: Xxxxxxxxx
Plaza
Title: Consultant
/s/ Xxxxxxxxx
Plaza
Xxxxxxxxx
Plaza, individually
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