Consulting Agreement
Exhibit 10.2
This Consulting Agreement (the "Agreement") is made on June 1, 2007 by and between China Northern Medical Device, Inc (the "Company") and F & X Xxxxxxxx, Inc., a market research firm ("Consultant").
RECITALS
WHEREAS, the Company is in need of assistance in the market research; and
WHEREAS, Consultant has agreed to perform consulting work for the Company in providing market research and consulting services and other related activities as directed by the Company;
NOW, THEREFORE, the parties hereby agree as follows:
1. Consultant's Services Consultant shall be available and shall provide to the Company professional consulting services in the area of market research in home medical & health care device market ("Consulting services") as requested.
2. Consideration.
A. Payment. In consideration for the Consulting Services to be performed by Consultant under this Agreement, the Company will pay Consultant RMB 20,000 (equivalent USD$2,500.00) for its Consulting Services.
B. EXPENSES. Additionally, the Company will pay Consultant for the following expenses incurred while the Agreement between Consultant and the Company exists:
- All travel expenses to and from all work sites
- Meal expenses;
- Administrative expenses;
- Lodging Expenses if work demands overnight stays; and
- Miscellaneous travel-related expenses (parking and tolls.
Consultant shall submit written documentation and receipts where available itemizing the dates on which expenses were incurred. The Company shall pay Consultant the amounts due pursuant to submitted reports within 14 days after a report is received by the Company.
3. Independent Contractor. Nothing herein shall be construed to create an employer-employee relationship between the Company and Consultant. Consultant is an independent contractor and not an employee of the Company or any of its subsidiaries or affiliates. The consideration set forth in Section 2 shall be the sole consideration due Consultant for the services rendered hereunder. It is understood that the Company will not withhold any amounts for payment of taxes from the compensation of Consultant hereunder. Consultant will not represent to be or hold himself/herself out as an employee of the Company.
4. Confidentiality. In the course of performing Consulting Services, the parties recognize that Consultant may come in contact with or become familiar with information which the Company or its subsidiaries or affiliates may consider confidential. This information may include, but is not limited to, information pertaining to the Company, which information may be of value to a competitor. Consultant agrees to keep all such information confidential and not to discuss or divulge it to anyone other than appropriate Company personnel or their designees.
5. Term. This Agreement shall commence on June 1, 2007 and shall terminate on August 31, 2007, unless earlier terminated by either party hereto. Either party may terminate this Agreement upon Thirty (30) days prior written notice.
6. Miscellaneous.
6.1 Entire Agreement and Amendments. This Agreement constitutes the entire agreement of the parties with regard to the subject matter hereof, and replaces and supersedes all other agreements or understandings, whether written or oral. No amendment or extension of the Agreement shall be binding unless in writing and signed by both parties.
6.2 Binding Effect, Assignment. This Agreement shall be binding upon and shall inure to the benefit of Consultant and the Company and to the Company's successors and assigns. Nothing in this Agreement shall be construed to permit the assignment by Consultant of any of its rights or obligations hereunder, and such assignment is expressly prohibited without the prior written consent of the Company.
6.3 Governing Law, Severability. This Agreement shall be governed by the laws of China. The invalidity or unenforceability of any provision of the Agreement shall not affect the validity or enforceability of any other provision.
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WHEREFORE, the parties have executed this Agreement as of the date first written above.
China Northern Medical Devices, Inc.
F & X Xxxxxxxx, Inc.
By: /s/ Xxxxxxx Xx
By: Xxxxxx Xxxxx
Xxxxxxx Xx
Xxxxxx Xxxxx
President
Executive Director
180 Hongqi De Jie, Xxxxx 000
Xxxxx X 00xx Xxxxx
Xxxxxxx Xxxxxxxx, Xxxxxxxx Xxxx
000 Xxxxxxxxx Xxxx
Xxxxxxxxxxx, Xxxxx 000000
Xxxxxxxx, Xxxxx 000000
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