CONSULTANT AGREEMENT
February 1, 2002
The Board of Directors of Advanced Medical Systems, is offering Xx. Xxxxxx
Xxxxxxxx a position as Consultant to the Company to provide Marketing Services
to both retailers and distributors for all products produced by AMS, Inc.
Consultant is an independent contractor and therefor responsible for all his own
employment taxes.
Consultant shall perform all services required by AMS, Inc. in accordance and
compliance with the rules and regulations of the Company, working under the
direction of the Chairman and President.
Compensation: As compensation for the services rendered by consultant during the
term of this agreement, the Company shall pay consultant a fee of $3,000 per
month.
Expenses: The Company agrees that the consultant shall be paid $500 monthly for
out of pocket expenses. The Company must pre approve any additional expenses.
Term of Consulting Agreement: The term of this Agreement shall commence on
February 1, 2002 and, continue through January 31, 2004 unless terminated as
provided herein.
Termination for Cause: The Company may terminate this Agreement at any time
without advanced notice in the event consultant commits any act of gross
misconduct or willfully neglects to fulfill his duties under this Agreement.
Termination without Cause: In the event of termination without cause by the
Company, consultant shall be entitled to:
1. Compensation hereof received or accrued through the date of termination:
and
2. A lump sum within thirty (30) days after the termination data equaling
six (6) months consulting fee.
Termination by consultant: Consultant may terminate this Agreement if
1. The Company ceases its business
2. The Company moves its primary place of employment outside of Southern
California
3. Upon (60) days notice.
CONSULTANT AGREEMENT
AMS, Inc. and Xxxxxx Xxxxxxxx
Page 2
February 1, 2002
Bonus: Consultant is entitled to purchase up to 20,000 common shares each year
that he has successfully accomplished his mutually agreed upon annual forecasted
sales, for a maximum of 100,000 common shares over five years. The price per
share of these Common shares will be priced at the opening bid of the Company's
IPO.
Notices: Any notice to the Company shall be given in writing, either by personal
service, by fax or by Certified Mail.
Sole and entire Agreement: This Agreement constitutes the sole and entire
Agreement between the parties.
IN WITNESS WHEREOF, the parties executed this Agreement in Orange, California as
of February 1, 2002
Agreed:
X /s/ Xxxxx Xxxxxx X /s/ Xxxxxx Xxxxxxxx
---------------------------------- ----------------------------------
Xxxxx Xxxxxx Xxxxxx Xxxxxxxx
Chairman of the Board Consultant
Advanced Medical Systems, Inc. 0000 Xxxx Xxx Xxxxxx
0000 X. Xxxxxxxx Xxxxxx Xxxxxxx Xxxxx, XX
Xxxxxx, XX 00000
