BINDING LETTER OF COMMITMENT
Exhibit 10.16
THIS BINDING LETTER OF COMMITMENT ("Commitment") is entered into as of April 19th, 2012 by SOVEREIGN TALENT GROUP, Inc (the "Team") located at 0000 Xxxxxxxx Xxxx, Xxxxx 000, Xxxxxxx Xxxxx, XX 00000, and Healthcare Distribution Specialists "CLOTAMIN" located at 0000 Xxxxxx Xxx, Xxxxxx Xxxxxx, XX, 00000 (“Vendor”).
Description of Agreement
Xxxx Xxxxxxxx agrees to appear in a print campaign for the product Clotamin for $70,000. One six hour work day, hair and makeup person, and transportation shall be provided. Term on the agreement is 6 months exclusive. There shall be no stand alone figures of Xxxx Xxxxxxxx in stores. Xxxx Xxxxxxxx’x photo shoot will be before 5/13/2012. Payment should be made out to Xxxx Xxxxxxxx'x Corporation Clematis Productions Inc. Money is to be wired into Sovereign’s Escrow Account no later than noon on Friday 4/20/2012.
Xxxx Xxxxxxx'x Responsibilities
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Xxxx Xxxxxxx'x agrees to appear in a print advertising campaign that includes but is not limited to newspapers, magazine, displays, and xxx.xxxxxxxx.xxx for a period of 6 months. Xxxx Xxxxxxx further agrees that the shoot will take place prior to 5/31/2012
HDS Responsibilities
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HDS will pay Xxxx Xxxxxxx'x Corporation Clematis Productions, Inc, a fee of $70,000 for use of Xxxx Xxxxxxx'x image for a period of 6 months. HDS also agrees to provide one six hour work day, hair and makeup person, and transportation to the shoot. HDS agrees to no stand alone figures of Xxxx Xxxxxxx. HDS accepts financial responsibility for this agreement and further agrees to pay the Xxxx Xxxxxxxx'x Corporation Clematis Productions Inc a fee of $70,000 net in exchange for these benefits. Funds will be sent to;
Sovereign’s wire information is as follows: Sovereign Talent Group Inc.
Xxxxx Fargo Bank
Routing#: 000000000
Account#: 5968737584
Money is to be wired into Sovereign's Escrow Account no later than noon on Friday: 4/20/2012,
Mutual Indemnification
Each party hereto agrees to indemnify and hold harmless the other party and its respective officers, directors, partners, employees, agents and representatives, from and against all claims, suits, damages, costs, demands, liabilities and expenses, including reasonable attorneys' fees, arising from or relating to (i) third, party claims or (ii) any act or omission, or breach of any of the terms or conditions of this Agreement, by the indemnifying party, its officer, directors, partners, employees, agents and representatives, except to the extent of misconduct or negligence on the part of the indemnified party. Further, Xxxx Xxxxxxxx'x Corporation Clematis Productions Inc and Xxxx Xxxxxxx’x will be held harmless should there be any issue that arises from use of Clotamin.
Accept and Agreed.
Healthcare Distributions |
| SOVEREIGN TALENT GROUP | ||
Specialists, LLC |
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By: | /s/ Xxxxxx Xxxxx |
| By: | /s/ Xxxxx Xxxxx |
Printed Name: | Xxxxxx Xxxxx |
| Printed Name: |
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Title: | CEO |
| Title: President |
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| Address: 0000 Xxxxxx Xxxxxx |
| Xxxxxxx: |
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| Xxxxxx Xxxxxx, XX 00000 |
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