Document:

kool_ex103.htm

EXHIBIT 10.3
 
THREE YEAR LEGAL RETAINER AGREEMENT TO PHIL JOHNSTON FOR $3,600 PER MONTH
 
Preamble
 
Whereas: Phil Johnston, J.D. has rendered valuable legal services as a co-founder and director of Koolbridge Solar, Inc. (KBS) since KBS inception July 26, 2013.
 
Whereas: Phil Johnston will render further valuable legal and board services for 3 years beginning May 15, 2014 for a monthly retainer of $3,600 after the first $200,000 is raised.
 
Agreement
 
It is agreed by Koolbridge Solar, Inc.(KBS) and J. Phillips L. Johnston, Sr., J.D. (Phil Johnston) that KBS will retain Phil Johnston for legal services at $3,600 per month effective May 15, 2014 as specified in the June 15, 2014 PPM approved by the KBS directors for a period of 3 years for legal services to KBS.  This Agreement automatically renews unless terminated in writing within 60 days prior to the May 15, 2017 anniversary date by either party.
 
The $3,600 payment shall be paid at the first of each month after $200,000 has been raised from investors.
 
In the event of the sale of KBS during the next 3 years, this Agreement remains in place until May 15, 2017.
 
KBS agrees to pay reasonable and necessary business expenses supported by proper expense accounts to Phil Johnston during the term of this Agreement.
 
Agreed to May 15, 2017 by the undersigned parties.
 

/s/ J. Stephen Burnett                                     
J. Stephen Burnett
Chief Executive Officer
Koolbridge Solar, Inc.
 

/s/ J. Phillips L. Johnston, J.D.                     
J. Phillips L. Johnston, J.D.
Chief Legal Officer & Corporate Secretary
Koolbridge Solar, Inc.kool_ex104.htm

EXHIBIT 10.4
 
Consulting and Confidentiality Agreement
 
This Consulting Agreement (Agreement) is made and entered into, effective October 1, 2015 by and between Robert Belts (RB) and Koolbridge Solar (KBS).
 
Consulting Agreement
 
RB is not an employee of Koolbridge Solar for any purpose, whatsoever, but is an independent contractor.
 
RB agrees to furnish advice, information and cooperation to KBS as may be requested by KBS and as may reasonably necessary. RB shall assume and retain discretion over methods, techniques and procedures in performance of his obligations under this Agreement. It is understood and agreed between the parties that this Agreement contemplates that substantially all of the services needed to discharge RB's duties are to be personally performed by RB.
 
RB shall have no power or authority to create any contract or obligation, either expressed or implied, on behalf, in the name of, or binding upon KBS, unless consented thereto in advance in writing.
 
The parties hereto understand and agree that RB will not be treated by KBS as an "employee" for any Federal or State tax purposes. Accordingly, RB shall be responsible for all taxes imposed including employment, social security and Medicare taxes, worker's compensation, and state and federal withholding, specific to RB's services. 
 
Koolbridge Solar will issue RB a 1099 for consulting service fees at the end of each calendar year.
 
RB Responsibilities and Compensation
 
RB will serve as Chief Financial Officer (CFO) of KBS which responsibilities will include customary CFO duties for KBS on an as needed basis. Included are duties for KBS as a private company and the duties for KBS as a public company, when that occurs. RB agrees he will work exclusively for KBS during the term of this agreement.
 
RB fees for consulting services will be $100.00 per hour worked. RB will be paid $10,000 retainer for services upon presentation of an RB invoice for such amount. RB agrees to purchase a minimum of $8,000 up to a maximum of $10,000 of KBS stock in connection with being paid a retainer for services. RB will offset the retainer with monthly invoices for work performed until such time as the retainer has been reduced to zero. At that time, RB and KBS will revise and update the consulting agreement for on- going work.
 
	 
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Travel, car rental, lodging, meals and other approved business expenses incurred in connection with providing consulting services will be reimbursed by KBS.
 
Invoices will be provided to KBS on a monthly basis for consulting services and for expenses. Expenses will be supported with receipts.
 
Confidential Information;
Nondisclosure; Noncompetition; Termination
 RB shall be bound by the confidentially and non disclosure agreement previously entered into between RB and KBS.
 
Termination. Either party may terminate the engagement for any reason at any time with ten days notice. 
 
Miscellaneous
 
Entire Agreement. This Agreement constitutes the entire Agreement and understanding between the parties. 
 
The parties hereto acknowledge that they have read this Agreement, fully understand it, and have freely and voluntarily entered into it. 
    	 
	RB	 

	 	 	 	 
	DATED: _______________	By:	/s/ Robert E. Belts	 

	 
	 
	Robert E. Belts	 

	 
	 
	 
	 

		Koolbridge Solar
	
			
	DATED: ________________
	By:	/s/ John Stephen Burnett	
			John Stephen Burnett, CEO 
	

 
	 
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Consulting and Confidentiality Agreement 
Addendum #1
 
This Consulting Agreement (Agreement), Addendum #1, is made and entered into, effective April 1, 2016 by and between Robert Belts (RB) and Koolbridge Solar (KBS).
 
Consulting Agreement
 
RB is not an employee of Koolbridge Solar for any purpose, whatsoever, but is an independent contractor.
 
RB agrees to furnish advice, information and cooperation to KBS as may be requested by KBS and as may reasonably necessary. RB shall assume and retain discretion over methods, techniques and procedures in performance of his obligations under this Agreement. It is understood and agreed between the parties that this Agreement contemplates that substantially all of the services needed to discharge RB's duties are to be personally performed by RB.
 
RB shall have no power or authority to create any contract or obligation, either expressed or implied, on behalf, in the name of, or binding upon KBS, unless consented thereto in advance in writing.
 
The parties hereto understand and agree that RB will not be treated by KBS as an "employee" for any Federal or State tax purposes. Accordingly, RB shall be responsible for all taxes imposed including employment, social security and Medicare taxes, worker's compensation, and state and federal withholding, specific to RB's services. 
 
Koolbridge Solar will issue RB a 1099 for consulting service fees at the end of each calendar year.
 
RB Responsibilities and Compensation
 
RB will serve as Chief Financial Officer (CFO) of KBS which responsibilities will include customary CFO duties for KBS on an as needed basis. Included are duties for KBS as a private company and the duties for KBS as a public company, when that occurs. RB agrees he will work exclusively for KBS during the term of this agreement.
 
RB fees for consulting services will be $100.00 per hour worked. RB will be issued 160,000 shares of KBS stock valued as of April 1, 2016 at $0.25 per share or total value of $40,000. $25,000 of the total is for CFO services for the 2016 calendar year. $15,000 of the total is for specific accounting services agreed to between RB and Stephen Burnett. These services may extend into 2017 or may be increased during 2016 as the work scope warrants. RB will submit monthly invoices for the performed specific accounting services portion of this agreement. 
 
Travel, car rental, lodging, meals and other approved business expenses incurred in connection with providing consulting services will be reimbursed by KBS.
 
Invoices will be provided to KBS on a monthly basis for consulting services and for expenses. Expenses will be supported with receipts.
 
Confidential Information;
Nondisclosure; Noncompetition; Termination
 
RB shall be bound by the confidentially and non disclosure agreement previously entered into between RB and KBS.
 
This Addendum supersedes and replaces any prior agreements between RB and KBS
 
Termination. Either party may terminate the engagement for any reason at any time with ten days notice. 
 
	 
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Miscellaneous
 
Entire Agreement. This Agreement constitutes the entire Agreement and understanding between the parties. 
 
The parties hereto acknowledge that they have read this Agreement, fully understand it, and have freely and voluntarily entered into it.
 
	 
	RB	 

	 	 	 	 
	DATED: _______________	By:	/s/ Robert E. Belts	 

	 
	 
	Robert E. Belts	 

	 
	 
	 
	 

		Koolbridge Solar
	
			
	DATED: ________________
	By:	/s/ John Stephen Burnett	
			John Stephen Burnett, CEO 
	

 
 
4kool_ex105.htm

EXHIBIT 10.5
 
Term Sheet
Dated February 22, 2016
 
Between
 
Koolbridge Solar Inc. (KBS) and Lawrence D Zirbel (LDZ)
 
Background LDZ is a founder and director of KBS and has actively helped and participated in many aspects of KBS's business efforts. KBS has a need for someone to manage the development of its products and assist with managing the activities of the engineering team. LDZ has experience in this area and has been assisting in an advisory capacity and will transition to a more active role during this engagement.
 
Basic Engagement Terms:
 
		1- 	LDZ will work with KBS as Vice President of Product Development through January 1, 2017.

			
		2- 	LDZ will not work exclusively for KBS during the period of his and will continue to work with GSA, Clear Village, Inc. and Minnesota Properties.

			
		3- 	LDZ will work as an at-will employee.

			
		4- 	KBS and LDZ are able to terminate employment at any time with a 30 day written notice to the other party. If terminated for other than cause, LDZ will receive two (2) month's salary, at the current pay rate, and all options that would vest on a prorated basis through the end of the month of termination and non-vested options would be forfeited.

			
		5- 	The stock option program herein will be in addition to all prior stock granted to date.

			
		6- 	Parties agree to use binding arbitration in the event of a dispute.

 
Tasks and Responsibilities:
 
		7- 	LDZ will manage the engineering staff and be responsible for meeting the technical deadlines set forth by the company within the budget allocated for product development.

			
		8- 	KBM management will work with LDZ to establish milestones and budgets for Product Development.

 
	 
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Compensation:
 
		9-	KBS and LDZ agree that compensation will be a combination of cash, stock and/or stock options in such a manner as to preserve cash and mitigate tax consequences.

			
		10-	This Agreement will begin immediately upon approval of both KBS and LDZ and be retroactive to January 1, 2016.

 
		 
	·
	KBS will grant LDZ 1,300,000 stock options in KBS at .25 cents per share.

		 
	·
	650,000 Options will vest at immediately upon approval of this term sheet.

		 
	·
	650,000 Options will vest on January 1st, 2017.

		 
	·
	Upon termination for cause, all non-vested options are forfeited.

		 
	·
	If terminated for other than cause, refer to #3 under Basic Engagement Terms in this document.

		 
	·
	Stock options will expire 10 years from the grant date.

 
		11- 	KBS will pay LDZ a salary of $800 per month from January 1, 2016 through December 31st, 2016.

 
Liquidity Event: 
 
		12- 	All stock options not vested at the date of an acquisition or merger will vest immediately upon the completion of that transaction.

 
Signed  /s/ John Stephen Burnett                                                            Date __________________________
 
John Stephen Burnett
Chairman and CEO
 
Signed /s/ Lawrence D. Zirbel                                                                  Date _________________________
 
Lawrence D. Zirbel
 
 
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