CONSULTING AGREEMENT
Exhibit 6.8
This CONSULTING AGREEMENT is made between Virtuoso Surgical, Inc. ("Virtuoso") and Dr. Xxxxxx Xxxxxxx, III effective September 1, 2017.
WHEREAS, Xxxxxxxx is in the business of developing endoscopic surgical tools using technologies developed at Xxxxx Xxxxxxx University, Vanderbilt University, and elsewhere, by Xx. Xxxxxxx and others; and
WHEREAS, Virtuoso desires to consult with Xx. Xxxxxxx regarding the development of endoscopic surgical tools, or other surgical tools; and
WHEREAS, Xx. Xxxxxxx is willing to provide engineering consultation services to Virtuoso on mutually agreeable terms;
THEREFORE, the parties agree:
1. | Xx. Xxxxxxx will provide personal engineering consulting services to Virtuoso as may be mutually desirable; |
2. | The parties anticipate that Xx. Xxxxxxx'x services will require approximately twenty percent of his working effort; |
3. | Xx. Xxxxxxx will be paid at the NIH base rate of $187,000/year, multiplied by his expected effort, payable over the academic year; |
4. | For 2017, Xx. Xxxxxxx will be paid $3,462.96 per month, starting September 1, 2017; |
5. | For 2018, Xx. Xxxxxxx shall be paid $3,462.96 per month during the academic year until the NIH cap is fulfilled; |
6. | Xx. Xxxxxxx will provide a statement of effort for reporting to the NIH at least quarterly; |
7. | Any works of authorship or invention, or any other protectable form of intellectual property, that Xx. Xxxxxxx may develop as part of his work for Virtuoso shall be and remain the property of Virtuoso to the fullest extent permissible by law. |
/s/ Xxxxxx Xxxxxxx, III | |||
Dr. Xxxxxx Xxxxxxx, III | VIRTUOSO SURGICAL, INC. | ||
By: | /s/ X. Xxxx Xxxxxxxx | ||
X. Xxxx Xxxxxxxx | |||
Its: | Chief Administrative Officer |