EXHIBIT 4.3
CONSULTING AGREEMENT DATED AUGUST 22, 2001
BETWEEN REGISTRANT AND XXXX XXXXXXXX
This Consulting Agreement (the "Agreement") is entered into this 22nd day
of August, 2001 by and between Crown Jewel Resources Corp., a Delaware
corporation, having its principal place of business at 000 Xxxxx Xxxxxx, Xxx
Xxxx, Xxx Xxxx 00000, (the "Company") and Xxxx Xxxxxxxx, an individual, whose
address is 000 X. 00xx Xxxxxx, Xxx. 00X, Xxx Xxxx XX 00000 (the "Consultant").
WHEREAS, the Company wishes to engage Consultant to advise the Company and
Consultant wishes to accept such engagement, all upon the terms and subject to
the conditions contained in this Agreement;
NOW, THEREFORE, the parties hereto, in consideration of the mutual
consideration and promises contained herein and intending to be bound, hereby
agree as follows:
1. Appointment. The Company hereby appoints Consultant, and Consultant
agrees to serve as, consultant to the Company, all upon the terms, and subject
to the conditions of this Agreement.
2. Term. The term of this Agreement shall begin on the date first set
forth above and shall continue until August 21, 2002.
3. Duties of Consultant. Consultant shall advise senior management of the
Company with regard to the identification and evaluation of potential merger and
acquisition candidates. Consultant shall render such advice and assistance as
the Company may reasonably request of him pursuant to such duties.
4. Compensation. In consideration of, and in full payment for, the
entering into this Agreement, the Company hereby agrees to pay Consultant three
hundred thousand (300,000) shares (the "Shares") of the Company's common stock,
$.00005 par value per share. The Company further agrees, that prior to issuance
of the shares, it will file a registration statement on Form S-8, including the
Shares, with the Securities and Exchange Commission. Consultant shall be
responsible for all travel and other related expenses incurred by Consultant in
connection with the performance of his consulting duties hereunder, unless
otherwise consented to in writing in advance by the Company.
5. Status as Independent Contractor. The parties intend and acknowledge
that Consultant is acting as an independent contractor and not as an employee of
the Company. Consultant shall have full discretion in determining the amount of
time and activity to be devoted to rendering the services contemplated under
this Agreement and the level of compensation to Consultant is not dependent upon
any preordained time commitment or level of activity. The Company acknowledges
that Consultant shall remain free to accept other consulting engagements of a
like nature to the engagement under this Agreement. Consultant, however, hereby
undertakes to notify the Company in writing of any engagement undertaken by
Consultant that, in the view of
Consultant, creates a conflict of interest with the Company's engagement of
Consultant. Nothing in this Agreement shall be construed to create any
partnership, joint venture or similar arrangement between the Company and
Consultant or to render either party responsible for any debts or liabilities of
the other.
6. Confidentiality.
(a) Consultant acknowledges that in connection with the services to
be rendered under this Agreement, Consultant may be provided with confidential
business information of the Company. Consultant agrees to keep any information
or materials specifically designated in writing by a responsible officer of the
Company as confidential (the "Confidential Information") in the strictest
confidence and not to disclose or disseminate any such Confidential Information
to any person, firm or other business entity except to those employees,
consultants or other independent contractors of the Company or Consultant as
shall be necessary or advisable for the carrying out of the purposes of this
Agreement and who are under a similar obligation of confidentiality.
(b) The Company acknowledges that Consultant may, in rendering the
services to be rendered hereunder, be utilizing materials that are proprietary
to Consultant. The Company acknowledges that any such materials that are
specifically designated in writing to the Company to be proprietary to
Consultant will remain the property of Consultant and the Company will treat
such materials as confidential information of Consultant and will not disclose
or disseminate any such confidential information to any person, firm or other
business entity except to those employees, consultants or other independent
contractors of the Company or Consultant as shall be necessary or advisable for
the carrying out of the purposes of this Agreement and who are under a similar
obligation of confidentiality.
7. Indemnification. The Company shall indemnify Consultant for any loss,
damage, expenses, claims or other liabilities (including, without limitation,
attorneys' fees) resulting from a breach or alleged breach of any of the
representations and warranties of the Company, or the failure of the Company to
perform any of its obligations, contained in this Agreement.
8. Amendments, Modifications, Waivers, Etc. No amendment or modification
to this Agreement, nor any waiver of any term or provision hereof, shall be
effective unless it shall be in a writing signed by the party against whom such
amendment, modification or waiver shall be sought to be enforced. No waiver of
any term or provision shall be construed as a waiver of any other term or
condition of this Agreement, nor shall it be effective as to any other instance
unless specifically stated in a writing conforming with the provisions of this
Paragraph 8.
9. Successors and Assigns. This Agreement shall be enforceable against any
successors in interest, if any, to the Company and Consultant. Neither the
Company nor Consultant shall assign any of their respective rights or
obligations hereunder without the written consent of the other in each instance.
10. Notices. Any notices required or permitted to be given under this
Agreement shall be effective upon receipt at the respective addresses in the
recitals to this Agreement unless the address
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for notice to either party shall have been changed by a notice given in
accordance with this Paragraph 10.
11. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the substantive laws of the State of New York for contracts
executed and to be performed wholly within such state, without regard for
principals of conflicts of laws.
IN WITNESS WHEREOF, the parties hereto have set their respective hands as
of the date first above written.
Crown Jewel Resources Corp.
By: /s/ Xxxx Xxxxxxx /s/ Xxxx Xxxxxxxx
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Xxxx Xxxxxxx Xxxx Xxxxxxxx
President and Chief Executive Officer
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