Consulting Agreement
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This consulting agreement ("Agreement") is entered into by and between LEXON,
INC., an Oklahoma corporation (LEXON) and UTEK CORPORATION, a Florida
corporation (UTEK) effective this 4th day of August 1999.
For good and valuable consideration, the receipt, adequacy and sufficiency of
which are hereby acknowledged, the parties agree as follows:
1. Scope of Services. UTEK agrees to provide technology merchant
consulting services to LEXON to identify, evaluate and recommend
potential technology acquisitions that are synergistic with LEXON'S
existing cancer diagnostic testing technologies. This technology
search shall review technologies form US and foreign research
institutions and US government laboratories.
2. Compensation. LEXON agrees to pay UTEK a total of $132,000. Payable as
follows:
a. April 1, 2000 $44,000
b. September 1, 2000 $44,000
c. December 1, 2000 $44,000
To guarantee receipt of consideration by UTEK for performance of this
contract, if in the event that LEXON is unable to make any of the
above cash payments, it will deliver such payment to UTEK in the form
of LEXON unregistered shares of common stock. The number of shares to
be delivered will be equal to 200% of the amount owed divided by the
price of the shares on the date the payment is required to be made.
3. Term. The term for performance of the services of this Agreement shall
begin September 1, 1999 and end December 31, 1999.
4. The laws of the State of Florida govern this Agreement.
The parties have executed this Agreement effective August 4th, 1999.
LEXON, INC. UTEK CORPORATION
By: Xxxxxxx Xxxxx By: Xxxxxxxx Xxxxx
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Xxxxxxx Xxxxx, President Xxxxxxxx Xxxxx, President
