CONSULTING AGREEMENT
Exhibit 10.16
This Agreement is made effective as of October 1, 2006 by and between Pop N Go, Inc. of 00000 X Xxxxxx, Xxxxxxxx, Xxxxxxxxxx 00000, and Calblue, Inc..
In this Agreement, the party who is contracting to receive services shall be referred to as ""POPN"", and the party who will be providing the services shall be referred to as Consultant.
Consultant has a background in management consulting and has provided consulting services to “POPN” since 1996.
"POPN" desires to have services provided by Consultant.
Therefore, the parties agree as follows:
1. DESCRIPTION OF SERVICES. Beginning on October 1, 2006, Consultant will provide the following services (collectively, the "Services"): Provide its President to serve as “POPN’s” Chief Executive Officer and President to perform the customary duties of those positions.
2. PERFORMANCE OF SERVICES. The manner in which the Services are to be performed and the specific hours to be worked by Consultant shall be determined by Consultant. "POPN" will rely on Consultant to work as many hours as may be reasonably necessary to fulfill Consultant's obligations under this Agreement.
3 COMPENSATION .
A Year One-$150,000(payable $12,500 monthly).
Year Two-$180,000(payable $15,000 monthly).
Year Three-$240,000(payable $20,000 monthly).
B. Signing bonus-$25,000 cash and 4 million shares POPN stock.
C. Insurance-$1500/month allowance during term of agreement.
D. Performance bonus will be determined by incremental quarterly increases in the market capitalization of POPN stock. The parties agree to use $5 million as the baseline market cap for quarter one beginning October 1, 2006. Consultant will be paid an amount equal to 2% of each succeeding quarterly market cap increase. Payment will be made in cash or stock at the option of Consultant.
4. TERM/TERMINATION. This Agreement will automatically renew on October 1, 2009 unless the parties agree, in writing, to terminate or change the Agreement. Termination of this Agreement by POPN will require consulting fees due for the balance of the term of this Agreement to become immediately due and payable.
5. RELATIONSHIP OF PARTIES. It is understood by the parties that Consultant is an independent contractor with respect to "POPN", and not an employee of "POPN".
6. DISCLOSURE. Consultant is required to disclose any outside activities or interests, including ownership or participation in the development of prior inventions, that conflict or may conflict with the best interests of "POPN".
7. EMPLOYEES. Consultant's employees, if any, who perform services for "POPN" under this Agreement shall also be bound by the provisions of this Agreement.
8. ASSIGNMENT. Consultant's obligations under this Agreement may not be assigned or transferred to any other person, firm, or corporation without the prior written consent of "POPN".
9. RETURN OF RECORDS. Upon termination of this Agreement, Consultant shall deliver all records, notes, data, and memoranda of any nature that are in Consultant's possession or under Consultant's control and that are "POPN"'s property or relate to "POPN"'s business.
10. NOTICES. All notices required or permitted under this Agreement shall be in writing and shall be deemed delivered when delivered in person or deposited in the United States mail, postage prepaid, addressed as follows:
IF for "POPN":
Pop N Go,Inc.
Xxxxxx Xxxxx
CEO
00000 X Xxxxxx
Xxxxxxxx, Xxxxxxxxxx 00000
IF for Consultant
Calblue, Inc.
_________________________
Such address may be changed from time to time by either party by providing written notice to the other in the manner set forth above.
11. ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
12. AMENDMENT. This Agreement may be modified or amended if the amendment is made in writing and is signed by both parties.
13. 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. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
14. 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.
15. APPLICABLE LAW. This Agreement shall be governed by the laws of the State of California.
Party receiving services:
Pop N Go,Inc.
By:
____________________________________________________
Xxxxxx Xxxxx
CEO
Party providing services:
By:
____________________________________________________
Calblue, Inc.
