CONSULTING AGREEMENT
THIS
CONSULTING AGREEMENT ("Agreement"), dated for reference purposes as of
May 25th 2007 is by and between
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Royal
Invest International Corporation (RIIC) a publicly traded corporation
trading on the Over the Counter (“OTC”) under the symbol RIIC,
incorporated in the United States of America in the State of Delaware
with
its registered office located at 000 Xxxx Xxxx Xxxx, 0xx. xxxxx,
Xxxxxxxx,
Xxxxxxxxxxx 00000, XXX, legally represented by its CEO Xx. Xxxxx
Xxxxxxxxx, hereinafter also referred to as “RIIC” or
“Client”
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ECM
HOFF HOLDING B.V. Xxxxx Xxxxxxxx geboren
te ’s
Gravenhage op zeven maart negentienhonderd drieenzestig, wonende
te 0000
XX Xxxxxxxxx, Willembuytewechstraat 118 C2, ongehuwd, houder
van een Nederlands paspoort, nummer: NK 4376171, handelend als zelfstandig
bevoegd directeur van de besloten vennootschap met beperkte
aansprakelijkheid E.C.M. Hoff Holding b.v., Statutair gevestigd te
Steenbergen NB en kantoorhoudend te Ditlaar 7, te Amsterdam; Hierna
te
noemen ECM
(“ECM” or "Consultant").
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RECITALS
WHEREAS,
Consultant is engaged in the business of providing consulting services; and
WHEREAS, Client wishes to engage Consultant to provide certain business and
financial consulting services in connection with the Client as described herein
(the “Services”); and WHEREAS, Consultant desires to provide such Services upon
the terms and conditions set forth herein.
NOW,
THEREFORE, in consideration of the mutual covenants and conditions contained
herein, the parties hereto hereby agree as follows:
AGREEMENT
I.
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Appointment.
Client hereby engages Consultant to perform the Services
and
Consultant agrees to accept such engagement upon the terms and conditions
set forth herein. Client acknowledges and agrees that Consultant
shall
have the exclusive right to perform the Services for all parties
it
introduces the Client to.
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II.
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The
Services. The services described hereunder will be performed
on a “reasonable efforts” basis.
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a.
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Finding
Services. To assist Client in securing financing (debt or equity)
for
additional / acquisition / expansion capital in the form of equity,
preferred equity, loan, credit facility, or any other debt instrument
(“Financing”), by introducing client to equity and / or debt financing
sources, including individuals, banks, finance companies, and other
parties (“Qualified Investor(s)” or “Qualified Lender(s)”). No “firm
commitment” for financing is either expressed or implied in any scenario.
Company will rely solely on its own judgment and that of its legal
counsel
to determine the desirability of any
transaction.
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III.
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Compensation.
Subject to the termination of this Agreement as provided
herein, Client shall compensate Consultant for the performance of
the
Services hereunder upon the following terms and
conditions:
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a.
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Success
Fee Compensation Qualified Lenders. A fee (“Success Fee”) of
two percent (two hundred basis points) of the maximum proceeds available
under the Financing provided by any Qualified Lender(s) (2.0%) introduced
by Consultant to Client, immediately due and payable as part of the
closing of the Financing. If the Financing is increased or subsequent
Financings are issued to Client for the above specified project,
by
Qualified Lender(s), Consultant will be due additional Success Fees,
at
the same rate, for a period of Two Years from the closing of the
first
Financing. The Success Fee will be due and payable to Consultant
whenever
the proceeds of any Financing are made available to Client by a Qualified
Lender(s), even if the term of this agreement has elapsed. Success
Fee
will be directly paid from any receipt of funds paid by Lender to
Client.
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b.
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Success
Fee Compensation Qualified Investors. A fee (“Success Fee”)
of eight percent (eight hundred basis points) of the maximum proceeds
available under the Financing provided by any Qualified Investor(s)
(8.0%)
introduced by Consultant to Client, immediately due and payable as
part of
the closing of the Financing. If the Financing is increased or subsequent
Financings are issued to Client for the above specified project,
by
Qualified Investor(s), Consultant will be due additional Success
Fees, at
the same rate, for a period of Two Years from the closing of the
first
Financing. The Success Fee will be due and payable to Consultant
whenever
the proceeds of any Financing are made available to Client by a Qualified
Investor(s), even if the term of this agreement has elapsed. Success
Fee
will be directly paid from any receipt of funds paid by Investor(s)
to
Client.
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c.
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Expenses.
All reasonable out of pocket expenses associated with
the
execution of the Services including: telephone and travel expenses
will be
reimbursed by the Client within two weeks of their submission, provided
that they are authorized in advance in writing by
Client.
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d.
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Non-Exclusive.
Consultant agrees to perform the Services efficiently and to the
best of
Consultant's ability. It is anticipated that the Consultant shall
spend as
much time as deemed necessary in order to perform the obligations
of
Consultant hereunder. Notwithstanding the foregoing, Client acknowledges
and agrees that Consultant’ engagement with Client is not exclusive and
that the Consultant is engaged in other business endeavors and that
each
Consultant reserves the right to continue to do so throughout the
term of
this Agreement.
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e.
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Exclusive.
Client acknowledges and agrees that Client’s engagement with
Consultant is exclusive for a period of 180 (one hundred and eighty)
days
starting from the execution of this agreement. During such time,
Client
shall not engage with any other firms to raise the requested
capital.
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IV.
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Non-Disclosure.
Consultant and Client acknowledge that each may have
access
to proprietary information regarding the business operations of the
other
and agree to keep all such information secret and confidential and
not to
use or disclose any such information to any individual or organization
without the non-disclosing parties prior written consent. It is hereby
agreed that from time to time Consultant and the Client may designate
certain disclosed information as confidential for purposes of this
Agreement.
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V.
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Independent
Contractor. Both Client and Consultant agree that Consultant
will act as independent contractor in the performance of their duties
under this Agreement. Nothing contained in this Agreement shall be
construed to imply that Consultant, or any employee, agent or other
authorized representative of Consultant, are a partner, joint venture,
agent, officer or employee of Client. Consultant acknowledges and
agrees
that Consultant has no authority whatsoever to enter into any binding
agreements or contracts on behalf of the Client with any third party
or to
make any representations or warranties on behalf of the Client to
third
parties. Consultant each agrees to notify all third parties of its
lack of
authority to represent and act on behalf of the Client as provided
herein.
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VI.
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Term;
Termination.
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a.
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The
term of the Agreement shall commence on INSERT DATE
and continue until INSERT DATE or
such time as the target funding amount has been reached unless mutually
agreed to extend.
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b.
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Client
may terminate this agreement, for cause only, at any time with fifteen
days written notice, and a fifteen-day period to cure any breach.
For
purposes of this subsection "cause" for termination shall be: (a)
any
felonious conduct or material fraud by Consultant in connection with
Client; (b) any embezzlement or misappropriation of funds or property
of
Client by Consultant; (c) any material breach of or material failure
to
perform any covenant or obligation of Consultant under this Agreement;
or
(d) gross negligence by Consultant in the performance of their duties
under this Agreement.
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VII.
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Non-Solicitation.
For a period of one year following termination of this
Agreement, Consultant agrees not to do any of the following: (i)
call on,
solicit, or take away any of the Client’s customers or potential customers
Consultant became aware of as a result of performing the Services
under
this Agreement; or (ii) solicit or hire away any of the Client’s employees
or contractors which Consultant became aware of as a result of performing
the Services under this Agreement.
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VIII.
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Limitation
on
Liability/Indemnity.
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a.
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Consultant
will not be liable to Client, or to anyone who may claim any right
due to
a relationship with Client, for any acts or omissions in the performance
of the Services under this Agreement unless such acts or omissions
constitutes gross negligence or willful
misconduct.
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b.
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Client
agrees to indemnify, defend and hold harmless Consultant, and its
respective principals, affiliates, and agents (each, a “Consultant-Related
Party”), from and against any and all liabilities, losses, damages,
claims, costs, judgments, suits, demands, proceedings, assessments,
and
expenses that Consultant-Related Party shall incur or suffer that
arise,
result from or relate to the performance of the Services under this
Agreement, unless Consultant are judged by a court of competent
jurisdiction to be guilty of gross negligence or willful
misconduct.
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c.
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Consultant
agrees to indemnify, defend and hold harmless Client, and its principals,
affiliates, and agents (each, a “Client-Related Party”), from and against
any and all liabilities, losses, damages, claims, costs, judgments,
suits,
demands, proceedings, assessments, and expenses that Client-Related
Party
shall incur or suffer that arise, result from or relate to the gross
negligence or willful misconduct of the
Consultant.
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IX.
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Binding
Effect. This Agreement shall be binding upon and inure to the
benefit of the parties hereto their respective devisees, legatees,
heirs,
legal representatives, successors, and permitted assigns. The preceding
sentence shall not affect any restriction on assignment set forth
elsewhere in this Agreement.
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X.
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Notices.
Any notice, request, demand, or other communication
given
pursuant to the terms of this Agreement shall be deemed given upon
delivery, if hand delivered, or forty-eight (48) hours after deposit
in
the United States mail, postage prepaid, and sent certified or registered
mail, return receipt requested, correctly addressed to the addresses
of
the parties indicated below or at such other address as such party
shall
in writing have advised the other
party.
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If
to
Client:
Royal
Invest International Corporation (RIIC)
000
Xxxx
Xxxx Xxxx, 0xx. xxxxx, Xxxxxxxx, Xxxxxxxxxxx 00000, XXX
Attn: Xxxxx
Xxxxxxxxx
If
to
Consultant:
ECM
HOFF
HOLDING B.V.
Ditlaar
7
Sloten
The
Netherlands
Attn:
Xxxxx Xxxxxxxx
XI.
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Entire
Agreement. Except as provided herein, this Agreement contains
the entire agreement of the parties, and supersedes all existing
negotiations, representations, or agreements and all other oral,
written,
or other communications between them concerning the subject matter
of this
Agreement.
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XII.
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Counterparts;
Facsimile Signatures; Signatures in PDF Form. This agreement
may be executed in any number of counterparts, each of which will
be
deemed an original, but all of which taken together shall constitute
one
and the same instrument. Delivery of a copy of this agreement bearing
a
signature by facsimile transmission or e-mail in PDF form will have
the
same effect as physical delivery of the document bearing the original
signature.
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XIII.
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Modification.
No change, modification, addition, or amendment to this
Agreement shall be valid unless in writing and signed by all parties
hereto.
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XIV.
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Attorneys'
Fees. Except as otherwise provided herein, if a dispute
should arise between the Consultant and Client including, but not
limited
to arbitration, if the Consultant is the prevailing party, Client
shall be
reimburse Consultant for all reasonable expenses incurred in resolving
such dispute, including reasonable attorneys' fees exclusive of such
amount of attorneys' fees as shall be a premium for result or for
risk of
loss under a contingency fee
arrangement.
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XV.
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Assignment.
Except as expressly provided herein, neither party shall
assign its rights or obligations under this Agreement without the
express
prior written consent of the other
party.
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XVI.
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Governing
Law. This Agreement shall be construed in accordance with
and
governed by the laws of the State of California of the United States
of
America, without reference to the conflicts of law’s provisions
thereof.
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IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the date first set forth above.
"Client"
"Consultant"
ROYAL
INVEST INTERNATIONAL
CORP. ECM
HOFF HOLDING B.V.
By:
/s/ Xxxxx
Xxxxxxxxx
By: /s/ Xxxxx
Xxxxxxxx
Xxxxx
Xxxxxxxxx
Xxxxx Xxxxxxxx
Chief
Executive
Officer
Managing Partner
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