EXHIBIT 10.31
CONSULTING AGREEMENT
This Consulting Agreement ("Agreement") is made, and is effective, this
3rd day of June, 2002, by and between Xxxxxxxxx xxx Xxxxxxxxxxx, whose address
is 0000 Xxxxxxxxx Xxxxxx, Xxxxxx Xxxxxx, XX 00000 (hereinafter sometimes
referred to as "Consultant"), and Xynergy Corporation, whose address is 000
Xxxxx Xxxxxxx Xxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx (hereinafter sometimes
referred to as "Client").
RECITALS:
Whereas: Client desires to engage Consultant to render advisory and
consulting services to Client; and
Whereas: Consultant has certain experience relevant to business
development and expansion that may be of benefit to the Client and is willing to
provide advisory and consulting services to Client.
NOW, THEREFORE, in consideration of the mutual covenants and promises set
forth herein, Client and Consultant agree as follows:
1. Engagement. Client retains Consultant, and Consultant accepts
engagement with Client, for an initial term of five months (one month credited,
plus four months from the date first written above), under the terms and
conditions set forth herein.
2. Duties. Consultant will render advisory and consulting services to
Client during the term of this Agreement, and will give Client the benefit of
his special knowledge, skill, contacts and business experience to the extent
relevant to the business activities of Client.
The Consultant's services shall include, but not be limited to:
A) Providing advice and insight regarding current and future business
operations
B) Introductions to corporate contacts that may benefit the company
C) Analysis and feedback on potential acquisitions introduced to Client
through other sources
D) Other consultation as needed by Client and able by Consultant
3. Independent Contractor. Consultant is, and throughout the term of this
Agreement shall be, an independent contractor and not an employee, partner or
agent of Client. This Agreement calls for the performance of services by
Consultant as an independent contractor, and Consultant shall not be considered
an employee, partner or agent of Client for any purpose. Consultant shall be
solely responsible for filing all tax returns and paying any applicable tax
determined to be owed with respect to the payments received by Consultant
pursuant to this Agreement.
4. Confidential Information. Consultant hereby acknowledges that during
the performance of this Agreement, Consultant may learn or receive confidential
Client information.
Therefore, Consultant confirms that all such information
relating to Client's business will be kept confidential by Consultant, except to
the extent that such information is required to be divulged to Consultant's
support staff, associates or others in order to enable Consultant to perform
Consultant's obligations under this Agreement.
5. Compensation or Payments to Consultant. Consultant shall be compensated
or paid by Client as follows:
A) Upon execution of this Agreement, the Company shall issue Consultant
an option to acquire 500,000 shares of the Company's free-trading
stock (S-8) at an exercise price of $0.05 per share. Company shall
open an escrow account for sale of said shares, and upon receipt of
monies for exercise of said options and purchase of shares; Company
shall immediately, or within 3 business days; issue the shares.
Consultant may sell or re-assign the shares or options as allowable by law
without prior approval of the client.
6. Non-Exclusive Services. Client acknowledges that Consultant is engaged
in various other business activities, including rendering advisory and
consulting services to others. Client also agrees that this Agreement does not
require any specific amount of time to be devoted by Consultant to rendering
advisory and consulting services to Client. Likewise, Consultant acknowledges
that Client is engaged in various other business activities, and has, and in the
future may, retain other consultants to render to Client services similar to, or
in addition to, those to be rendered by Consultant.
7. Termination and Return of Materials. After the initial two year term,
this Agreement shall continue on the same terms and conditions, except that it
may be terminated at any time by either Client or Consultant, upon thirty (30)
days written notice to the other party. Upon termination, Consultant must return
to Client all materials and information received from Client. Any termination
shall not terminate, or cease, the compensation or payments to be made to
Consultant pursuant to Exhibit "A", for work already performed or completed by
Consultant.
8. Notices. Any notice required to be given or otherwise given pursuant to
this Agreement shall be in writing and shall be hand delivered, mailed by
certified mail, return receipt requested, or sent by recognized overnight
courier service as follows:
If to Client: 000 Xxxxx Xxxxxxx Xxxxx, Xxxxx 000,
Xxxxxxx Xxxxx, Xxxxxxxxxx
If to Consultant: 0000 Xxxxxxxxx Xxx.
Xxxxxx Xxxxxx, XX 00000
9. Disputes. Any dispute that arises between the parties with respect to
the
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performance of this agreement shall be submitted to binding arbitration by the
American Arbitration Association, to be determined and resolved by that
Association under its rules and procedures in effect at the time of submission,
and the parties hereby agree to share equally in the costs of said arbitration.
The final arbitration decision shall be enforceable through the courts of any
state where either of the parties resides, is doing business, or has assets.
10. Complete Agreement. This Agreement constitutes the final and entire
agreement between the parties with respect to the subject matter hereof and
supersedes all prior negotiations, understandings and agreements between the
parties whether oral or written.
11. Headings. The headings in this Agreement are inserted for convenience
only and shall not be used to define, limit or describe the scope of this
Agreement or any of the obligations herein.
12. Severability. Should any provision of this Agreement be held
unenforceable or invalid for any reason, the remaining provisions of this
Agreement shall be unaffected by such holding; and the parties agree to mutually
agree and execute an addendum to this Agreement which replaces the invalid or
unenforceable provision with a valid and legal provision which nevertheless
retains, as nearly as is legally possible and valid, the original meaning and
spirit of the invalid or unenforceable provision.
13. Governing Law. This Agreement shall governed and construed in
accordance with the laws of the State of California.
14. Amendment. This Agreement may be amended only by an instrument in
writing signed by both parties hereto.
IN WITNESS WHEREOF, the parties hereto, or their duly authorized
officer(s), have signed this Agreement as of the date first above written. THIS
AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION THAT MAY BE ENFORCED BY THE
PARTIES.
Xynergy Corp. CONSULTANT
By: s/s Xxxxxx Xxxxxx By: s/s Alex von Steeruwitz
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Xxxxxx Xxxxxx Alex von Steeruwitz
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