Document:

EX-10.50

Exhibit 10.50

CONSULTING SERVICES AGREEMENT

     This Financial Consulting Services Agreement (hereinafter the “Agreement”) is entered this
17th day of September, 2008 by and between DAS Ventures LLC (hereinafter “Consultant”) a Michigan
Limited Liability Company and Ecology Coatings (hereinafter “Client”), a Nevada corporation, with
reference to the following:

RECITALS:

     WHEREAS, Client desires to be assured of the association and services of Consultant in order
to avail itself of Consultant’s experience, skills, abilities, knowledge, and background to
facilitate long range strategic planning, and to advise Client in business and/or financial matters
and is therefore willing to engage Consultant upon the terms and conditions set forth herein.

     WHEREAS, Consultant desires to be assured, and Client desires to assure Consultant, that, if
Consultant associates with Client and allocates its resources necessary to provide Client with its
services as Client requires and expects, the Consultant will be paid the consideration described
herein and said consideration will be nonrefundable, regardless of the circumstances.

     WHEREAS, the Consultant agrees to be engaged and retained by the Client and Client agrees to
engage and retain Consultant upon the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the foregoing, of the mutual promises hereinafter set
forth and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

     1. Engagement. Client hereby engages Consultant on a non-exclusive basis, and Consultant
hereby accepts the engagement to become financial Consultant to Client and to render such advice,
consultation, information, and services to the Directors and/or Officers of Client regarding
identifying and developing new revenue sources for Client.

     2. Term. The term (“Term”) of this Agreement shall commence on the date hereof and continue
for three (3) years. The Agreement may be extended upon agreement by both parties, unless or until
the Agreement is terminated. Either party may cancel this Agreement upon five days written notice
in the event either party violates any material provision of this Agreement and fails to cure such
violation within five (5) days of written notification of such violation from the other party. Such
cancellation shall not excuse the breach or non-performance by the other party or relieve the
breaching party of its obligation incurred prior to the date of cancellation.

     3. Due Diligence. Client shall supply and deliver to Consultant all information relating to
Client’s business as may be reasonably requested by the Consultant to enable Consultant to provide
the consulting services described in paragraph 1 hereof.

 

 

     4. Compensation and Fees. As consideration for Consultant entering into this Agreement, Client
agrees to pay and deliver to Consultant the consideration stated in Exhibit A, which is attached
hereto and incorporated by reference herein.

     5. Exclusivity; Performance; Confidentiality. The services of Consultant hereunder shall not
be exclusive, and Consultant and his agents may perform similar or different services for other
persons or entities whether or not they are competitors of Client. Consultant agrees that it will,
at all times, faithfully and in a professional manner perform all of the duties that may be
reasonably required of Consultant pursuant to the terms of this Agreement. Consultant shall be
required to expend only such time as is necessary to service Client in a commercially reasonable
manner. Consultant does not guarantee that its efforts will have any impact upon the Client’s
business or that there will be any specific result or improvement from Consultant’s efforts.
Consultant acknowledges and agrees that confidential and valuable information proprietary to Client
and obtained during its engagement with Client, shall not be, directly or indirectly, disclosed
without the prior express written consent of Client, unless and until such information is otherwise
known to the public generally or is not otherwise secret and confidential.

     6. Independent Contractor. In its performance hereunder, Consultant and his agents shall be an
independent contractor. Consultant shall complete the services required hereunder according to his
own means and methods of work, shall be in the exclusive charge and control of Consultant and which
shall not be subject to the control or supervision of Client, except as to the results of the work.
Client acknowledges that nothing in this Agreement shall be construed to require Consultant to
provide services to Client at any specific time, or in any specific place or manner. Payments to
Consultant hereunder shall not be subject to withholding taxes or other employment taxes as
required with respect to compensation paid to an employee.

     7. Arbitration and Fees. Any controversy or claim arising out of or relating to this
Agreement, or breach thereof, may be resolved by mutual agreement; or if not, shall be settled in
accordance with the Arbitration rules of the American Arbitration Association in Irvine,
California. Any decision or award rendered by the arbitrators shall be binding upon the parties and
shall be enforceable as a judgment in any court of competent jurisdiction. The prevailing party in
such arbitration or other proceeding shall be entitled, in addition to such other relief as many be
granted, to a reasonable sum as and for attorney’s fees in such arbitration or other proceeding
which may be determined by the arbitrator or other officer in such proceeding. If collection is
required for any payment not made when due, the creditor shall collect statutory interest and the
cost of collection, including attorney’s fees whether or not court action is required for
enforcement. The prevailing party in any such proceeding shall also be entitled to reasonable
attorneys’ fees and costs in connection all appeals of any judgment.

     8. Notices. Any notice or other communication required or permitted hereunder must be in
writing and sent by either (i) certified mail, postage prepaid, return receipt requested and First
Class mail; or (ii) overnight delivery with confirmation of

2

 

delivery; or (iii) facsimile transmission with an original mailed by first class mail, postage
prepaid, addressed as follows:

	 	 	 
	If to the Client:
	 	Ecology Coatings
	 
	 	 
	Address:
	 	2701 Cambridge Court, Suite 100
	 
	 	Auburn Hills, Michigan 48326
	 
	 	Attn:  General Counsel & Secretary
	 
	 	 
	Facsimile No.:
	 	866-750-2489
	 
	 	 
	If to Consultant:
	 	DAS Ventures LLC
	 
	 	 
	Address:
	 	20000 Delaware
	 
	 	Detroit, MI 48240
	 
	 	 
	Facsimile No:
	 	____.____.______

or in each case to such other address and facsimile number as shall have last been furnished by
like notice. If mailing is impossible due to an absence of postal service, and other methods of
sending notice are not otherwise available, notice shall be hand-delivered to the aforesaid
addresses. Each notice or communication shall be deemed to have been given as of the date so mailed
or delivered, as the case may be; provided, however, that any notice sent by facsimile shall be
deemed to have been given as of the date sent by facsimile if a copy of such notice is also mailed
by first class mail on the date sent by facsimile; if the date of mailing is not the same as the
date of sending by facsimile, then the date of mailing by first class mail shall be deemed to be
the date upon which notice given.

     9. Additional Provisions. No waiver of any of the provisions of this Agreement shall be deemed
or shall constitute a waiver of any other provision and no waiver shall constitute a continuing
waiver. No waiver shall be binding unless executed in writing by the party making the waiver. No
supplement, modification, or amendment of this Agreement shall be binding unless executed in
writing by all parties. This Agreement constitutes the entire agreement between the parties and
supersedes any prior agreements or negotiations. There are no third party beneficiaries of this
Agreement. This Agreement shall be governed by and construed in accordance with the internal laws
of the State of Michigan, regardless of laws of conflicts.

     10. Recitals. The Recitals are incorporated herein by this reference and made a material part
of this Agreement.

(Signatures on next page)

3

 

The parties hereto have entered into this Agreement on the date first written above.

“Client”

Ecology Coatings, Inc.

a Nevada corporation

	 	 	 	 	 
	                       /s/ Bob Crockett
 	 
	By:  	Bob Crockett 
	Title:  	CEO 	 

“Consultant”

DAS Ventures LLC,

a Michigan limited liability company

	 	 	 	 	 
	                       /s/ Doug Stromback
 	 
	By:                  	Doug Stromback 
	Title:  	Member 	 

4

 

	 	 	 	 	 

Exhibit A — Compensation

DAS Ventures LLC

	 	 	 
	Commission For New Business:

	 	15% of collected gross revenue for fees
associated with Licensing, Exclusivity and
Royalties from clients that Consultant
initiates for as long as they continue to pay
Ecology such fees whether Consultant is still
under contract with Client or not.
	 
	 	 
	 

	 	3% of collected gross revenue for product
sales to clients that Consultant initiates
for as long as remain a client of Ecology
whether Consultant is still under contract
with Client or not.
	 
	 	 
	IT Costs:

	 	Client pays for Consultant’s computer & IT
support relating to Client engagement of
Consultant

5EX-10.51

Exhibit 10.51

CONSULTING SERVICES AGREEMENT

     This Financial Consulting Services Agreement (hereinafter the “Agreement”) is entered this
17th day of September, 2008 by and between SALES ATTACK LC (hereinafter “Consultant”) a Michigan
Limited Liability Company and Ecology Coatings (hereinafter “Client”), a Nevada corporation, with
reference to the following:

RECITALS:

     WHEREAS, Client desires to be assured of the association and services of Consultant in order
to avail itself of Consultant’s experience, skills, abilities, knowledge, and background to
facilitate long range strategic planning, and to advise Client in business and/or financial matters
and is therefore willing to engage Consultant upon the terms and conditions set forth herein.

     WHEREAS, Consultant desires to be assured, and Client desires to assure Consultant, that, if
Consultant associates with Client and allocates its resources necessary to provide Client with its
services as Client requires and expects, the Consultant will be paid the consideration described
herein and said consideration will be nonrefundable, regardless of the circumstances.

     WHEREAS, the Consultant agrees to be engaged and retained by the Client and Client agrees to
engage and retain Consultant upon the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the foregoing, of the mutual promises hereinafter set
forth and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

     1. Engagement. Client hereby engages Consultant on a non-exclusive basis, and Consultant
hereby accepts the engagement to become financial Consultant to Client and to render such advice,
consultation, information, and services to the Directors and/or Officers of Client regarding
identifying and developing new revenue sources for Client.

     2. Term. The term (“Term”) of this Agreement shall commence on the date hereof and continue
for two (2) years. The Agreement may be extended upon agreement by both parties, unless or until
the Agreement is terminated. Either party may cancel this Agreement upon five days written notice
in the event either party violates any material provision of this Agreement and fails to cure such
violation within five (5) days of written notification of such violation from the other party. Such
cancellation shall not excuse the breach or non-performance by the other party or relieve the
breaching party of its obligation incurred prior to the date of cancellation.

     3. Due Diligence. Client shall supply and deliver to Consultant all information relating to
Client’s business as may be reasonably requested by the Consultant to enable Consultant to provide
the consulting services described in paragraph 1 hereof.

 

 

     4. Compensation and Fees. As consideration for Consultant entering into this Agreement, Client
agrees to pay and deliver to Consultant the consideration stated in Exhibit A, which is attached
hereto and incorporated by reference herein.

     5. Exclusivity; Performance; Confidentiality. The services of Consultant hereunder shall not
be exclusive, and Consultant and his agents may perform similar or different services for other
persons or entities whether or not they are competitors of Client. Consultant agrees that it will,
at all times, faithfully and in a professional manner perform all of the duties that may be
reasonably required of Consultant pursuant to the terms of this Agreement. Consultant shall be
required to expend only such time as is necessary to service Client in a commercially reasonable
manner. Consultant does not guarantee that its efforts will have any impact upon the Client’s
business or that there will be any specific result or improvement from Consultant’s efforts.
Consultant acknowledges and agrees that confidential and valuable information proprietary to Client
and obtained during its engagement with Client, shall not be, directly or indirectly, disclosed
without the prior express written consent of Client, unless and until such information is otherwise
known to the public generally or is not otherwise secret and confidential.

     6. Exculpation of Liability and Indemnification. All decisions with respect to consultations
or services rendered by Consultant for transactions negotiated for and presented to the Client by
Consultant shall be those of the Client, and Consultant shall have no liability with respect to
such decisions. In connection with the services Consultant renders under this Agreement, the Client
indemnifies and holds Consultant harmless against any and all losses, claims, damages and
liabilities and the expense, joint and several, to which Consultant may become subject and will
reimburse Consultant for any legal and other expenses, including attorney’s fees and disbursements
incurred by Consultant in connection with investigating, preparing or defending any actions
commenced or threatened or claim whatsoever, whether or not resulting in the liability, insofar as
such are based upon the information the Client has supplied to Consultant under this Agreement.

     7. Independent Contractor. In its performance hereunder, Consultant and his agents shall be an
independent contractor. Consultant shall complete the services required hereunder according to his
own means and methods of work, shall be in the exclusive charge and control of Consultant and which
shall not be subject to the control or supervision of Client, except as to the results of the work.
Client acknowledges that nothing in this Agreement shall be construed to require Consultant to
provide services to Client at any specific time, or in any specific place or manner. Payments to
Consultant hereunder shall not be subject to withholding taxes or other employment taxes as
required with respect to compensation paid to an employee.

     8. Arbitration and Fees. Any controversy or claim arising out of or relating to this
Agreement, or breach thereof, may be resolved by mutual agreement; or if not, shall be settled in
accordance with the Arbitration rules of the American Arbitration Association in Irvine,
California. Any decision or award rendered by the arbitrators shall be binding upon the parties and
shall be enforceable as a judgment in any court of

2

 

competent jurisdiction. The prevailing party in such arbitration or other proceeding shall be
entitled, in addition to such other relief as many be granted, to a reasonable sum as and for
attorney’s fees in such arbitration or other proceeding which may be determined by the arbitrator
or other officer in such proceeding. If collection is required for any payment not made when due,
the creditor shall collect statutory interest and the cost of collection, including attorney’s fees
whether or not court action is required for enforcement. The prevailing party in any such
proceeding shall also be entitled to reasonable attorneys’ fees and costs in connection all appeals
of any judgment.

     9. Notices. Any notice or other communication required or permitted hereunder must be in
writing and sent by either (i) certified mail, postage prepaid, return receipt requested and First
Class mail; or (ii) overnight delivery with confirmation of delivery; or (iii) facsimile
transmission with an original mailed by first class mail, postage prepaid, addressed as follows:

	 	 	 
	If to the Client:
	 	Ecology Coatings
	 
	 	 
	Address:
	 	2701 Cambridge Court, Suite 100
	 
	 	Auburn Hills, Michigan 48326
	 
	 	Attn:  General Counsel & Secretary
	 
	 	 
	Facsimile No.:
	 	866-750-2489
	 
	 	 
	If to Consultant:
	 	Sales Attack LC
	 
	 	 
	Address:
	 	2701 Cambridge Court
	 
	 	Suite 425
	 
	 	Auburn Hills, MI 48326
	 
	 	Attn:  JB Smith
	 
	 	 
	Facsimile No:
	 	248-377-6302

or in each case to such other address and facsimile number as shall have last been furnished by
like notice. If mailing is impossible due to an absence of postal service, and other methods of
sending notice are not otherwise available, notice shall be hand-delivered to the aforesaid
addresses. Each notice or communication shall be deemed to have been given as of the date so mailed
or delivered, as the case may be; provided, however, that any notice sent by facsimile shall be
deemed to have been given as of the date sent by facsimile if a copy of such notice is also mailed
by first class mail on the date sent by facsimile; if the date of mailing is not the same as the
date of sending by facsimile, then the date of mailing by first class mail shall be deemed to be
the date upon which notice given.

3

 

     10. Additional Provisions. No waiver of any of the provisions of this Agreement shall be
deemed or shall constitute a waiver of any other provision and no waiver shall constitute a
continuing waiver. No waiver shall be binding unless executed in writing by the party making the
waiver. No supplement, modification, or amendment of this Agreement shall be binding unless
executed in writing by all parties. This Agreement constitutes the entire agreement between the
parties and supersedes any prior agreements or negotiations. There are no third party beneficiaries
of this Agreement. This Agreement shall be governed by and construed in accordance with the
internal laws of the State of Michigan, regardless of laws of conflicts.

     11. Recitals. The Recitals are incorporated herein by this reference and made a material part
of this Agreement.

The parties hereto have entered into this Agreement on the date first written above.

“Client”

Ecology Coatings, Inc.

a Nevada corporation

	 	 	 	 	 
	                           /s/ Bob Crockett
 	 
	By:            	Bob Crockett 	 
	Title:  	CEO 	 

“Consultant”

Sales Attack LC,

a Michigan limited liability company

	 	 	 	 	 
	                        /s/ JB Smith
 	 
	By:                 	               JB Smith 	 
	Title:  	Member 	 

4

 

	 	 	 	 	 

Exhibit A — Compensation

Sales Attack LC

	 	 	 
	Monthly Compensation:

	 	$20,000.00, payable on the 1st day
of each month. If payment is not made within
10 days of the due date, such amounts due
shall accrue interest at a rate of three (3%) percent until paid.
	 
	 	 
	Commission For New Business:

	 	15% of collected gross revenue for fees
associated with Licensing, Exclusivity and
Royalties from clients that Consultant
initiates for as long as they continue to pay
Ecology such fees whether Consultant is still
under contract with Client or not.
	 
	 	 
	 

	 	3% of collected gross revenue for product
sales to clients that Consultant initiates
for as long as remain a client of Ecology
whether Consultant is still under contract
with Client or not.
	 
	 	 
	Options:

	 	The Client shall issue the Consultant options
exercisable to purchase five hundred
thirty-one thousand (531,000) shares of
Common Stock (each an “Option”). The exercise
price of the Options shall be the closing bid
price per share of the Common Stock on the
date first above written as reported on the
Over-The-Counter Bulletin Board, or if there
is not such price on the Effective Date, then
the last bid price on the date nearest
preceding the date first above written. Each
Option will be exercisable until December 31,
2020. One hundred seventy-seven thousand
(177,000) shares of the Options will be
exercisable on and after March 17, 2009; one
hundred seventy-seven thousand (177,000)
shares of the Options will be exercisable on
and after September 17, 2009, and the
remaining one hundred seventy-seven thousand
(177,000) shares of the Options will be
exercisable on and after March 17, 2010. The
Options shall be deemed to have a par value
of $.001 each.

5

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