EXHIBIT 4.1
RETAINER AGREEMENT
This Agreement is by and between Xxxxx X. Xxxxxxx and R. Xxxx Xxxxx of
Xxxxxxx Xxxxx, LLP, having a business address at 000 Xxxxx Xxxxxx, Xxxxxxxxxx
Xxxxx, Xxx Xxxx, Xxx Xxxx 00000-0000, (hereinafter "LAWYERS") and CRYO-CELL
International, Inc. (hereinafter "CLIENT"), a corporation organized and existing
under the laws of the State of Delaware and having a business address at 0000
XxXxxxxx Xxxxx Xxxx, Xxxx. X, Xxxxxxxxxx, Xxxxxxx 00000,
WHEREAS LAWYERS practice law in the area of intellectual property,
including, but not limited to, patent, trademark, unfair competition, trade
secret, and copyright law.
WHEREAS CLIENT, an international technology company, requires patent
counsel on a continuing basis for purposes of advising company employees as to
intellectual property affairs, including, but not limited to, patent, trademark,
unfair competition, trade secret, and copyright issues.
WHEREAS CLIENT has utilized the professional services of LAWYERS, for
nine years and wishes to continue using those services.
Now, therefore, the parties agree as follows:
1. CLIENT will continue to request advice and other legal services
from LAWYERS, as the need arises in the course of CLIENT'S
business.
2. LAWYERS will provide professional services to CLIENT in response
to requests for such services from CLIENT.
3. LAWYERS will invoice CLIENT for services rendered and
out-of-pocket expenses incurred as services are performed and
expenses incurred.
4. On request by LAWYERS, CLIENT will issue stock to LAWYERS
individually in equal amounts to collectively equal or exceed
invoiced amounts outstanding, the number of shares of stock being
sufficient at the then current market prices so that an immediate
sale of the issued stock by LAWYERS will eliminate the accrued
debt owed to LAWYERS by CLIENT.
5. Notwithstanding the foregoing, CLIENT has the option, on any
request made by LAWYERS under Paragraph 4 above, to settle the
invoiced amounts outstanding partially or totally by a cash
payment to LAWYERS.
6. This Agreement may be terminated at any time by either party.
Upon termination, amounts owed by CLIENT to LAWYERS will be
settled pursuant to Paragraph 4 or 5 above.
IN WITNESS WHEREOF, the parties have executed or have caused this
Agreement to be executed, in duplicate, by themselves or their
respective duly authorized representatives.
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