AGREEMENT
MADE by and between:
THE XXXXXXXX GROUP, LLC
0000 Xxxxx Xxxx Xxxx
Xxxxx 000X
Xxxxxxx, Xxxxxxx 00000
and
Millennium Plastics Corporation
0000 X. Xxxxxxxxx Xxx
Xxx Xxxxx, XX 00000
WHEREAS, The Xxxxxxxx Group, LLC ("Consultant") provides communication and
management consulting services to a variety of industries; and
WHEREAS, Millennium Plastics Corporation ("Company") a Nevada Corporation
seeks to retain Consultant to render to Company such consulting services; and
WHEREAS, Consultant is ready, willing and able to render such consulting and
advisory services to Company as hereinafter described on the terms and
conditions more fully set forth below.
NOW, THEREFORE, in consideration of the mutual promises and covenants set
forth in this Agreement ("Agreement"), the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:
1. CONSULTING SERVICES. The Xxxxxxxx Group agrees:
(a) To assist in the area of strategic planning and the development of
approaches to business opportunities and challenges.
(b) To assist Company in introducing its services and products
to organizations and individuals that can benefit from Company's innovative
capabilities or can otherwise help Company in meeting its business
objectives.
2. SCOPE AND STANDARDS OF SERVICES.
a) It is acknowledged and agreed by Company that Consultant is not
rendering legal advice or performing accounting services, nor acting as an
investment advisor or broker-dealer within the meaning of applicable state
and federal securities laws.
b) It is further acknowledged and agreed by Company that Consultant does
not provide lobbying services of any kind or participate in lobbying
activities.
c) Consultant agrees to perform its consulting duties hereto as an
independent contractor. Nothing contained herein shall be considered as
creating an employer-employee relationship between the parties to this
Agreement.
d) Consultant retains the right to control or direct the manner in which
the services described in paragraph 1 are to be performed. However, Company
will provide Consultant with reasonable access to Company marketing
information, records, and personnel that are required to support Consultant
in properly performing under the Agreement.
e) The parties hereto acknowledge and agree that Consultant cannot
guarantee the results or effectiveness of any of the services rendered or to
be rendered by Consultant hereunder. Rather, Consultant shall use its best
efforts to conduct its services and affairs in a professional manner and in
accordance with good industry practice.
3. TERM OF AGREEMENT. Consultant's engagement hereunder shall have an
initial term of one (1) year, commencing on January 15,2001, subject to
termination as hereinafter provided in Section 5. Unless otherwise
terminated as provided herein, the term of this Agreement shall automatically
renew on a year-to-year basis at the end of the initial term and each
subsequent renewal term unless either party gives written notice of non-
renewal to the other at least ninety (90) days prior to the last day of the
initial term or the then-current renewal term. Expiration of or failure to
renew this Agreement shall be without prejudice to any rights to compensation
or other payment of Consultant pursuant to Section 4.
4. COMPENSATION
a) In consideration of the services provided for Company by Consultant as
fully set forth in Section 1, Consultant will be paid a cash retainer of
$7500 per month, the first month's retainer is payable upon execution of this
agreement and all subsequent months retainers will be due on the first (1st)
day of that month.
b) Company will provide Consultant with 240,000 stock options to purchase
shares of Company's common stock, with an exercise price of eighty-five cents
($0.85) per share and vesting of twenty thousand (20,000) shares per month
commencing with the "date of grant" as described in paragraph 11 of the Stock
Option Agreement, with an expiration of 2 years from the date of grant. (See
Stock Option Agreement attached hereto as Exhibit A)
c) Company shall reimburse Consultant for all reasonable expenses and
disbursements incurred by Consultant in connection with its performance under
this Agreement. A monthly limit of $2,500 will apply to all reimbursed
expenses unless prior written approval has been granted by Company
d) Consultant shall be responsible for all taxes, levies and charges that
may accrue to Consultant by virtue of the compensation, reimbursements, or
other payments to be paid or made to it hereunder. Company shall make all
payments hereunder without deduction or withholding of any taxes, levies,
duties, charges, or expenses whatsoever. Company's obligations under this
Section 4 shall be performed without any right to invoke set-off, deduction
or similar rights.
5. TERMINATION.
a) Either party may terminate this Agreement by and upon delivery of
written notice to the other at any time if such other party: (i) makes an
assignment for the benefit of creditors; (ii) becomes adjudicated bankrupt;
(iii) files a voluntary petition in bankruptcy or a voluntary petition or an
answer seeking reorganization, arrangement, readjustment of its debts or for
any other kind of relief under Title 11 of the United States code or a
successor or state insolvency law ("Bankruptcy Law"); (iv) has filed against
it an involuntary petition in bankruptcy or seeking reorganization,
arrangement, readjustment of its debts or for any other relief under the
Bankruptcy Law, which petition is not discharged within 30 days; or (v)
applies for or permits the appointment of a receiver or a trustee for its
assets. Termination under this Subsection 5(a) shall be without prejudice to
any rights to compensation or other payment of Consultant pursuant to Section
4 above.
b) Either party may terminate this Agreement if the other party is in
material breach of any of the representations or warranties set forth herein,
or fails to perform or is otherwise in breach of any of its other material
obligations under this Agreement and, after receiving written notice of such
breach from the other party exercising its right to terminate this Agreement,
does not remedy such breach within thirty (30) days after receipt of such
written notice, in which case this Agreement shall terminate upon the
expiration of such period. In addition, Consultant may terminate this
Agreement by and upon delivery of written notice to Company at any time if
Company shall violate any law, ordinance, permit or regulation of any
governmental entity, except for violations which either singularly or in the
aggregate do not have or will not have a material adverse effect on the
operations of Company. Termination by Consultant under this Subsection 5(b)
shall be without prejudice to any rights to compensation or other payment of
Consultant pursuant to Section 4 above.
c) Notwithstanding other terms, in the event that Speaker Xxxx Xxxxxxxx
enters the employment of the United States Government, or officially
announces that he is seeking public office, this Agreement shall terminate on
that date. If either of these events were to occur, Consultant would effect
an orderly transition with regard to its obligations under this Agreement.
d) Either party may terminate this Agreement by and upon delivery of ninety
(90) days' written notice to the other party.
6. NONDISCLOSURE.
a) The Xxxxxxxx Group and Company acknowledge that in the course of this
relationship, they each may be exposed to or acquire information that is
proprietary to or confidential to the other party. The parties agree to hold
such information in strictest confidence and not to copy, reproduce, sell,
assign, license, market, transfer, give or otherwise disclose such
information to third parties or to use such information for any purposes
whatsoever, without the express written permission of the other party, other
than for the performance of obligations hereunder or as otherwise agreed to
herein, and to advise each of their employees, agents and representatives of
their obligations to keep such information confidential.
b) The parties shall use reasonable efforts to assist each other in
identifying and preventing any unauthorized use or disclosure of any
confidential information. Without limitation of the foregoing, the parties
shall use reasonable efforts to advise each other immediately in the event
that either learns of or has reason to believe that any person who has had
access to confidential information has violated or intends to violate the
terms of this Agreement, and will reasonably cooperate in seeking injunctive
relief against any such persons.
c) Notwithstanding the obligations set forth in the preceding paragraphs,
the confidentiality obligations of the parties shall not extend to
information that: (i) is, as of the time of its disclosure or thereafter
becomes, part of the public domain through a source other than the receiving
party; (ii) was rightfully known to the receiving party as of the time of its
disclosure; (iii) is independently developed by the receiving party or is
subsequently learned from a third party not under a confidentiality
obligation to the providing party; or (iv) is required to be disclosed
pursuant to a duly authorized subpoena, court order, or government authority,
whereupon the disclosing party shall provide prompt written notice to the
other party prior to such disclosure, so that such party may seek a
protective order or other appropriate remedy. In the event that a protective
order or other appropriate remedy is not obtained, the disclosing party
agrees to disclose only that portion of the confidential information that is
required.
d) Except as required by law, and with as much notice to the other party as
possible, neither The Xxxxxxxx Group nor Company will disclose to a third
party any of the details connected with this Agreement. Notwithstanding the
foregoing, unless notified otherwise by Company, The Xxxxxxxx Group may
include Company in any client list that it provides to individual prospective
clients for marketing purposes. Similarly, Company may acknowledge a
consulting relationship with The Xxxxxxxx Group in discussions with investors
and partners when appropriate. This sentence will not be deemed to authorize
Company to include The Xxxxxxxx Group or Speaker Xxxx Xxxxxxxx'x name in any
advertisements, publications or commercial websites without specific written
authorization.
e) All obligations relating to confidential and proprietary information
shall survive the termination of this relationship.
7. COMMUNICATIONS CONSIDERATIONS. The Xxxxxxxx Group and Company will
ensure that any news releases or written public statements directly
referencing the other will be mutually reviewed and approved before release.
Company will notify The Xxxxxxxx Group about news media inquiries made
concerning Speaker Xxxxxxxx or The Xxxxxxxx Group's business relationships.
8. CONFLICT OF INTEREST. The Xxxxxxxx Group shall be free to perform
services for other persons, corporations, and institutions. Consultant will
notify Company within ten (10) days of its intent to perform consulting
services for any other person or entity which conflicts with Consultant's
obligations under this Agreement. Upon receiving such notice, Company may
terminate this Agreement or consent to Consultant's outside consulting
activities.
9. INDEMNITY BY COMPANY. Company shall protect, defend, indemnify, and
hold Consultant and its assigns and attorneys, accountants, employees,
officers and directors harmless from and against all losses, liabilities,
damages, judgments, claims, counterclaims, demands, actions, proceedings,
costs and expenses (including reasonable attorneys' fees) of every kind and
character resulting from, relating to or arising out of (i) the inaccuracy,
non-fulfillment or breach of any representation, warranty, covenant or
agreement made by Company herein; or (ii) any legal action, including any
counterclaim, or breach of representation, warranty, covenant or agreement
made by Company herein; or (iii) negligent or willful misconduct, occurring
during the term thereof with respect to any of the decisions made by Company.
10. INDEMNIFICATION BY CONSULTANT. Consultant shall protect, defend,
indemnify and hold Company and its assigns and attorneys, accountants,
employees, officers and directors harmless from and against all losses,
liabilities, damages, judgments, claims, counterclaims, demands, actions,
proceedings, costs and expenses (including reasonable attorneys' fees) of
every kind and character resulting from, relating to, or arising out of (i)
the inaccuracy, non-fulfillment or breach of any representation, warranty,
covenant or agreement made by Consultant herein; or (ii) any legal action,
including any counterclaim, or breach of representation, warranty, covenant
or agreement made by Consultant herein; or (iii) negligent or willful
misconduct, occurring during the term hereof.
11. NOTICES. All notices under this Agreement shall be in writing and shall
be effective upon personal delivery to a party, or three business days after
deposit in the United States mail, registered or certified, postage prepaid
and addressed to the respective parties as follows (or such other address as
the parties may from time to time designate in writing):
The Xxxxxxxx Group, LLC Millennium Plastics Corporation
Attention: X.X. Xxxxx Attention: Xxxx Xxxxxxxx
0000 X Xx., XX 6265 X. Xxxxxxxxx Way
Suite 800 West Las Vegas, NV 89120
Xxxxxxxxxx, XX 00000
Phone: (000) 000-0000 Phone: (000) 000-0000
Fax: (000) 000-0000 Fax: (000) 000-0000
12. APPLICABLE LAW. It is the intention of the parties hereto that this
Agreement and the performance hereunder and all suits and special proceedings
hereunder be construed in accordance with and under and pursuant to the laws
of the State of Georgia and that in any action, special proceeding or other
proceeding that may be brought arising out of, in connection with or by
reason of this Agreement, the laws of the State of Georgia shall be
applicable and shall govern to the exclusion of the law of any other forum,
without regard to the jurisdiction on which any action or special proceeding
may be instituted.
13. SEVERABILITY. All agreements and covenants contained herein are
severable, and in the event any of them shall be held to be invalid by any
competent court, the Agreement shall be interpreted as if such invalid
agreements or covenants were not contained herein.
14. ENTIRE AGREEMENT. This Agreement constitutes and embodies the entire
understanding and agreement of the parties and supersedes and replaces all
prior understanding, agreements and negotiations between the parties.
15. WAIVER AND MODIFICATION. Any waiver, alteration, or modification of any
of the provisions of this Agreement shall be valid only if made in writing
and signed by the parties hereto. Each party hereto, may waive any of its
rights hereunder without effecting a waiver with respect to any subsequent
occurrences or transactions hereof.
16. MEDIATION/ARBITRATION.
a) In the event of any dispute (as defined herein below) arising out of or
relating to this Agreement, or the breach thereof, the parties agree that,
before having recourse to arbitration, they will participate in at least four
hours of mediation in accordance with the commercial mediation rules of the
American Arbitration Association. If the mediation procedure provided for
herein does not resolve any such dispute, the parties agree that all disputes
between the parties should then be submitted to arbitration administered by
the American Arbitration Association in accordance with its commercial
arbitration rules and pursuant to the Federal Arbitration Act, 9 U.S.C.
Section 1 et seq.
b) The term "dispute" shall mean any action, dispute, claim or controversy
of any kind, whether in contract or in tort, under either statutory or common
law or both, now existing or hereafter arising between the parties in any way
pertaining to (i) this Agreement or any related agreement, document or
instrument; and (ii) any incidents, omissions, acts, practices or occurrences
arising out of any service or product furnished or agreed to be furnished
under this Agreement causing property damage to either party and is asserted
that the other party or its agents, employees or representatives, may be
liable, in whole or in part; provided, however, that the parties may seek
injunctions and similar forms of equitable relief with courts of competent
jurisdiction.
17. COUNTERPARTS. This Agreement may be executed simultaneously in two or
more counterparts, each of which shall be deemed an original, but all of
which taken together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this
Agreement as of the day and year first above written.
Millennium Plastics The Xxxxxxxx Group, LLC
Corporation
/s/ Xxxx Xxxxxxxx /s/ X.X. Xxxxx
Xxxx Xxxxxxxx X.X. Xxxxx
Date:1/12/01 Date 1/12/01
0000 X Xx, XX, Xxxxx 000 Xxxx
0000 X. Xxxxxxxxx Xxx Xxxxxxxxxx, XX 00000
Xxx Xxxxx, XX 00000 Phone (000) 000-0000
Phone (000) 000-0000
EXHIBIT A
NON-QUALIFIED STOCK OPTION AGREEMENT
THIS NON-QUALIFIED STOCK OPTION AGREEMENT ("Agreement") is entered into
as of January 15, 2001, by and between MILLENNIUM PLASTICS CORPORATION, a
Nevada corporation ("Corporation"), and THE XXXXXXXX GROUP, LLC ("Optionee").
R E C I T A L S
A. On September 25, 2000, the Board of Directors of the Corporation
adopted and the Corporation's stockholders approved the Millennium Plastics
Corporation 2000-2001 Stock Option Plan (the "Plan").
B. Pursuant to the Plan, on January 11, 2001, the Board of Directors
of the Corporation acting as the Plan Committee ("Committee") authorized
granting to Optionee options to purchase shares of the common stock, $.001
par value, of the Corporation ("Shares") for the term and subject to the
terms and conditions hereinafter set forth.
A G R E E M E N T
It is hereby agreed as follows:
1. CERTAIN DEFINITIONS. Unless otherwise defined herein, or the context
otherwise clearly requires, terms with initial capital letters used
herein shall have the meanings assigned to such terms in the Plan.
2. GRANT OF OPTIONS. The Corporation hereby grants to Optionee, options
("Options") to purchase all or any part of Two Hundred Forty Thousand
(240,000) Shares, upon and subject to the terms and conditions of the
Plan, which is incorporated in full herein by this reference, and upon
the other terms and conditions set forth herein.
3. OPTION PERIOD. The Options shall be exercisable at any time during the
period commencing on the following dates (subject to the provisions of
Section 18) and expiring on the date Two (2) years from the date of
grant, unless earlier terminated pursuant to Section 7:
The Options shall vest at a rate of Twenty Thousand (20,000) per
month.
4. METHOD OF EXERCISE. The Options shall be exercisable by Optionee by
giving written notice to the Corporation of the election to purchase and
of the number of Shares Optionee elects to purchase, such notice to be
accompanied by such other executed instruments or documents as may be
required by the Committee pursuant to this Agreement, and unless
otherwise directed by the Committee, Optionee shall at the time of such
exercise tender the purchase price of the Shares it has elected to
purchase. An Optionee may purchase less than the total number of Shares
for which the Option is exercisable, provided that a partial exercise of
an Option may not be for less than One Hundred (100) Shares. If
Optionee shall not purchase all of the Shares which it is entitled to
purchase under the Options, its right to purchase the remaining
unpurchased Shares shall continue until expiration of the Options. The
Options shall be exercisable with respect of whole Shares only, and
fractional Share interests shall be disregarded.
5. AMOUNT OF PURCHASE PRICE. The purchase price per Share for each Share
which Optionee is entitled to purchase under the Options shall be Eighty-
Five Cents ($0.85) per Share.
6. PAYMENT OF PURCHASE PRICE. At the time of Optionee's notice of exercise
of the Options, Optionee shall tender in cash or by certified or bank
cashier's check payable to the Corporation, the purchase price for all
Shares then being purchased. Provided, however, the Board of Directors
may, in its sole discretion, permit payment by the Corporation of the
purchase price in whole or in part with Shares. If the Optionee is so
permitted, and the Optionee elects to make payment with Shares, the
Optionee shall deliver to the Corporation certificates representing the
number of Shares in payment for new Shares, duly endorsed for transfer
to the Corporation, together with any written representations relating
to title, liens and encumbrances, securities laws, rules and regulatory
compliance, or other matters, reasonably requested by the Board of
Directors. The value of Shares so tendered shall be their Fair Market
Value Per Share on the date of the Optionee's notice of exercise.
7. EFFECT OF TERMINATION OF RELATIONSHIP. If Optionee's relationship with
the Corporation as a Consultant terminates in accordance with the
Agreement, all options which have previously vested shall expire three
(3) months thereafter. All unvested options shall laps and
automatically expire. During such three (3) month period (or such
shorter period prior to the expiration of the Option by its own terms),
such Options may be exercised by the Optionee only.
8. NONTRANSFERABILITY OF OPTIONS. The Options shall not be transferable,
either voluntarily or by operation of law.
9. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION. As used herein, the term
"Adjustment Event" means an event pursuant to which the outstanding Shares of
the Corporation are increased, decreased or changed into, or exchanged for a
different number or kind of shares or securities, without receipt of
consideration by the Corporation, through reorganization, merger,
recapitalization, reclassification, stock split, reverse stock split, stock
dividend, stock consolidation or otherwise. Upon the occurrence of an
Adjustment Event, (i) appropriate and proportionate adjustments shall be made
to the number and kind and exercise price for the shares subject to the
Options, and (ii) appropriate amendments to this Agreement shall be executed
by the Corporation and Optionee if the Committee determines that such an
amendment is necessary or desirable to reflect such adjustments. If
determined by the Committee to be appropriate, in the event of an Adjustment
Event which involves the substitution of securities of a corporation other
than the Corporation, the Committee shall make arrangements for the
assumptions by such other corporation of the Options. Notwithstanding the
foregoing, any such adjustment to the Options shall be made without change in
the total exercise price applicable to the unexercised portion of the
Options, but with an appropriate adjustment to the number of shares, kind of
shares and exercise price for each share subject to the Options. The
determination by the Committee as to what adjustments, amendments or
arrangements shall be made pursuant to this Section 9, and the extent
thereof, shall be final and conclusive. No fractional Shares shall be issued
on account of any such adjustment or arrangement.
10. NO RIGHTS TO CONTINUED EMPLOYMENT OR RELATIONSHIP. Nothing contained in
this Agreement shall obligate the Corporation to employ or have another
relationship with Optionee for any period or interfere in any way with the
right of the Corporation to reduce Optionee's compensation or to terminate
the relationship with Optionee at any time.
11. TIME OF GRANTING OPTIONS. The time the Options shall be deemed granted,
sometimes referred to herein as the "date of grant," shall be January 15,
2001.
12. PRIVILEGES OF STOCK OWNERSHIP. Optionee shall not be entitled to the
privileges of stock ownership as to any Shares not actually issued and
delivered to Optionee. No Shares shall be purchased upon the exercise of any
Options unless and until, in the opinion of the Corporation's counsel, any
then applicable requirements of any laws, or governmental or regulatory
agencies having jurisdiction, and of any exchanges upon which the stock of
the Corporation may be listed shall have been fully complied with.
13. SECURITIES LAWS COMPLIANCE. The Corporation will diligently endeavor to
comply with all applicable securities laws before any stock is issued
pursuant to the Options. Without limiting the generality of the foregoing,
the Corporation may require from the Optionee such investment representation
or such agreement, if any, as counsel for the Corporation may consider
necessary in order to comply with the Securities Act of 1933 as then in
effect, and may require that the Optionee agree that any sale of the Shares
will be made only in such manner as is permitted by the Committee. The
Committee may in its discretion cause the Shares underlying the Options to be
registered under the Securities Act of 1933 as amended by filing a Form S-8
Registration Statement covering the Options and the Shares underlying the
Options. Optionee shall take any action reasonably requested by the
Corporation in connection with registration or qualification of the Shares
under federal or state securities laws.
14. INTENDED TREATMENT AS NON-QUALIFIED STOCK OPTIONS. The Options granted
herein are intended to be non-qualified stock options described in U.S.
Treasury Regulation ("Treas. Reg.") ?1.83-7 to which Sections 421 and 422A of
the Internal Revenue Code of 1986, as amended from time to time ("Code") do
not apply, and shall be construed to implement that intent. If all or any
part of the Options shall not be described in Treas. Reg. ?1.83-7 or be
subject to Sections 421 and 422A of the Code, the Options shall nevertheless
be valid and carried into effect.
15. PLAN CONTROLS. The Options shall be subject to and governed by the
provisions of the Plan. All determinations and interpretations of the Plan
made by the Committee shall be final and conclusive.
16. SHARES SUBJECT TO LEGEND. If deemed necessary by the Corporation's
counsel, all certificates issued to represent Shares purchased upon exercise
of the Options shall bear such appropriate legend conditions as counsel for
the Corporation shall require.
17. CONDITIONS TO OPTIONS; Compliance with Applicable Laws. THE
CORPORATION'S OBLIGATION TO ISSUE SHARES OF ITS COMMON STOCK UPON EXERCISE OF
THE OPTIONS IS EXPRESSLY CONDITIONED UPON THE COMPLETION BY THE CORPORATION
OF ANY REGISTRATION OR OTHER QUALIFICATION OF SUCH SHARES UNDER ANY STATE
AND/OR FEDERAL LAW OR RULINGS OR REGULATIONS OF ANY GOVERNMENTAL REGULATORY
BODY, OR THE MAKING OF SUCH INVESTMENT REPRESENTATIONS OR OTHER
REPRESENTATIONS AND UNDERTAKINGS BY THE OPTIONEE OR ANY PERSON ENTITLED TO
EXERCISE THE OPTION IN ORDER TO COMPLY WITH THE REQUIREMENTS OF ANY EXEMPTION
FROM ANY SUCH REGISTRATION OR OTHER QUALIFICATION OF SUCH SHARES WHICH THE
COMMITTEE SHALL, IN ITS SOLE DISCRETION, DEEM NECESSARY OR ADVISABLE. SUCH
REQUIRED REPRESENTATIONS AND UNDERTAKINGS MAY INCLUDE REPRESENTATIONS AND
AGREEMENTS THAT THE OPTIONEE OR ANY PERSON ENTITLED TO EXERCISE THE OPTION
(i) IS NOT PURCHASING SUCH SHARES FOR DISTRIBUTION AND (ii) AGREES TO HAVE
PLACED UPON THE FACE AND REVERSE OF ANY CERTIFICATES A LEGEND SETTING FORTH
ANY REPRESENTATIONS AND UNDERTAKINGS WHICH HAVE BEEN GIVEN TO THE COMMITTEE
OR A REFERENCE THERETO.
18. MISCELLANEOUS.
18.1 Binding Effect. This Agreement shall bind and inure to the benefit
of the successors, assigns, transferees, agents, personal
representatives, heirs and legatees of the respective parties.
18.2 Further Acts. Each party agrees to perform any further acts and
execute and deliver any documents which may be necessary to carry
out the provisions of this Agreement.
18.3 Amendment. This Agreement may be amended at any time by the
written agreement of the Corporation and the Optionee.
18.4 Syntax. Throughout this Agreement, whenever the context so
requires, the singular shall include the plural, and the masculine
gender shall include the feminine and neuter genders. The headings
and captions of the various Sections hereof are for convenience
only and they shall not limit, expand or otherwise affect the
construction or interpretation of this Agreement.
18.5 Choice of Law. The parties hereby agree that this Agreement has
been executed and delivered in the State of Nevada and shall be
construed, enforced and governed by the laws thereof. This
Agreement is in all respects intended by each party hereto to be
deemed and construed to have been jointly prepared by the parties
and the parties hereby expressly agree that any uncertainty or
ambiguity existing herein shall not be interpreted against either
of them.
18.6 Severability. In the event that any provision of this Agreement
shall be held invalid or unenforceable, such provision shall be
severable from, and such invalidity or unenforceability shall not
be construed to have any effect on, the remaining provisions of
this Agreement.
18.7 Notices. All notices and demands between the parties hereto shall
be in writing and shall be served either by registered or certified
mail, and such notices or demands shall be deemed given and made
forty-eight (48) hours after the deposit thereof in the United
States mail, postage prepaid, addressed to the party to whom such
notice or demand is to be given or made, and the issuance of the
registered receipt therefor. If served by telegraph, such notice
or demand shall be deemed given and made at the time the telegraph
agency shall confirm to the sender, delivery thereof to the
addressee. All notices and demands to Optionee or the Corporation
may be given to them at the following addresses:
If to Optionee: THE XXXXXXXX GROUP, LLC
0000 Xxxxx Xxxx Xxxx
Xxxxx 000X
Xxxxxxx, Xxxxxxx 00000
If to Corporation: MILLENNIUM PLASTICS CORPORATION
0000 X. Xxxxxxxxx Xxx
Xxx Xxxxx, XX 00000
Such parties may designate in writing from time to time such other place
or places that such notices and demands may be given.
18.8 Entire Agreement. This Agreement constitutes the entire agreement
between the parties hereto pertaining to the subject matter hereof,
this Agreement supersedes all prior and contemporaneous agreements
and understandings of the parties, and there are no warranties,
representations or other agreements between the parties in
connection with the subject matter hereof except as set forth or
referred to herein. No supplement, modification or waiver or
termination of this Agreement shall be binding unless executed in
writing by the party to be bound thereby. No waiver of any of the
provisions of this Agreement shall constitute a waiver of any other
provision hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver.
18.9 Attorneys' Fees. In the event that any party to this Agreement
institutes any action or proceeding, including, but not limited to,
litigation or arbitration, to preserve, to protect or to enforce
any right or benefit created by or granted under this Agreement,
the prevailing party in each respective such action or proceeding
shall be entitled, in addition to any and all other relief granted
by a court or other tribunal or body, as may be appropriate, to an
award in such action or proceeding of that sum of money which
represents the attorneys' fees reasonably incurred by the
prevailing party therein in filing or otherwise instituting and in
prosecuting or otherwise pursuing or defending such action or
proceeding, and, additionally, the attorneys' fees reasonably
incurred by such prevailing party in negotiating any and all
matters underlying such action or proceeding and in preparation for
instituting or defending such action or proceeding.
IN WITNESS WHEREOF, the parties have entered into this Agreement as of
the date first set forth above.
"CORPORATION"
MILLENNIUM PLASTICS CORPORATION
a Nevada corporation
By: Xxxx Xxxxxxxx
Its: President
"OPTIONEE"
THE XXXXXXXX GROUP, LLC
By: X.X. Xxxxx
Its: Vice-President
