EXHIBIT 10.2
PROFESSIONAL CONSULTING AGREEMENT BETWEEN
TRIANGLE IMAGING GROUP, INC. AND
XXXXXXX X. XXXXXX, DATED JULY 9, 1997
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PROFESSIONAL CONSULTING AGREEMENT
THIS PROFESSIONAL CONSULTING AGREEMENT is made this 9th day of July,
1997, by and between XXXXXXX X. XXXXXX ("Consultant"), and TRIANGLE IMAGING
GROUP, INC. ("Client"), a Florida corporation with principal offices located at
0000 Xxxx Xxxxxx Xxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxx 00000.
WHEREAS, Consultant renders corporate financial consulting services and
will assist Client in achieving increased dissemination of corporate information
performance results to entities providing investment banking services;
WHEREAS, Client wishes to enlist Consultant to provide such services
and Consultant and Client wish to formalize in a written agreement the terms and
conditions under which Consultant will provide such services to Client;
NOW THEREFORE, for the mutual promises and other consideration
described herein, the parties hereto agree as follows:
1. Information to be Furnished by Client. Client shall furnish
Consultant with current public information about Client, including any and all
statements and reports filed by Client with the United States Securities and
Exchange Commission, its most recent Annual Report to Shareholders and shall
also provide any other public information reasonably requested by Consultant
("Client Information"). Client shall not provide to Consultant any confidential
or non-public information concerning Client, and any and all information
concerning Client provided to Consultant by Client shall be deemed
nonconfidential and public.
2. Services to be Provided by Consultant.
Consultant will provide financial consulting services to
Client through July 14, 1998 as requested by the Client in consideration of the
compensation provided under this Agreement.
3. Compensation for Services. In consideration of Consultant's
provision of services described in paragraph 2, Client's Board of Directors
shall authorize the issuance of 75,000 shares of the Corporation's common stock
("Shares"). Additional shares may be registered for future services not
contemplated by this Agreement. The Company will retain control of the future
shares and has the right to withdraw the registration of future shares not
sold for the benefit of the Consultant in the event the services to be provided
have not been performed.
4. Term and Termination. This Agreement shall become effective as of
the date written above, and shall remain in effect until July 14, 1998
("Expiration Date"). Client and Consultant may mutually agree to extend the
Agreement for an additional period. In the absence of such an agreement, this
Agreement shall automatically terminate upon the Expiration Date.
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5. Representations and Warranties. Consultant represents and warrants
that services to be provided and materials to be produced or developed by
Consultant under this Agreement will be performed, produced or developed by
competent, trained personnel in a workmanlike manner. Consultant and its
personnel shall comply with all applicable statues, rules and regulations
governing all aspects of the services to be performed under this Agreement;
provided that, as described in paragraph 1 of this Agreement, Client shall be
fully responsible to assure all Client Information is accurate and complete.
Client understands and acknowledges that Consultant cannot guarantee that the
services provided hereunder will achieve any particular objective or fulfill any
specified goals.
OTHER THAN THE FOREGOING EXPRESS WARRANTIES, CONSULTANT MAKES NO WARRANTIES WITH
RESPECT TO THE QUALITY OF THE GOODS AND SERVICES TO BE PROVIDED HEREUNDER OR ANY
RESULTS TO BE ACHIEVED, AND HEREBY EXPRESSLY DISCLAIMS THE EXISTENCE OF ANY SUCH
REPRESENTATIONS AND WARRANTIES, INCLUDING WITHOUT LIMITATION AND IMPLIED
WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. CONSULTANT
SHALL HAVE NO LIABILITY FOR ANY INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES
SUFFERED BY CLIENT AS A RESULT OF ANY FAILURE ON THE PART OF CONSULTANT IN THE
PERFORMANCE OF ITS DUTIES HEREUNDER.
6. Miscellaneous. This Agreement shall be interpreted and
construed in accordance with the laws of the State of Florida. The parties agree
that jurisdiction and venue of any dispute arising hereunder shall be in Broward
County, Florida.
Neither party may assign its rights or duties under this Agreement
without the express prior written consent of the other party, except that
Consultant may assign to any other party, without Client's consent, its right to
receive all or any portions of the fees and expenses due and owing to it.
This Agreement contains the entire understanding of the parties with
respect to the subject matter hereof. The terms of this Agreement may be altered
only by written agreement between the parties. The failure of either party to
object to or take affirmative action with respect to any conduct of the other
which is in violation of the terms of this Agreement shall not be construed as a
wavier of the violation or breach, or of any future similar violation or breach.
IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed by its duly authorized officer, or as to an individual
party, has executed this Agreement in his own hand, as of the date first written
above.
TRIANGLE IMAGING GROUP, INC.
By: /s/ Xxxx Xxxxxxxx
Xxxx Xxxxxxxx, President
/s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx, Consultant
C:\RPG-1\Triangle\S-8-7Yonadi.PCA
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