Document:

EX-10.10

 Exhibit 10.10 

November [__], 2020 
 Dear Genesis Park Holdings,

 This letter agreement sets forth the terms of the agreement between Genesis Park Holdings (the “Company”) and [•]
(“Subscriber”). The Company is the sponsor of Genesis Park Acquisition Corp. (the “SPAC”), a blank check company formed for the purpose of acquiring one or more businesses or entities (a “Business
Combination”), which intends to register its securities under the Securities Act of 1933, as amended (the “Securities Act”), in connection with its initial public offering (“IPO”). Capitalized terms used
not but defined herein shall have the meanings ascribed to such terms in that certain Amended and Restated Limited Liability Company Agreement of the Company dated as of September 24, 2020 (the “LLC Agreement”). 

Subscriber (i) commits to purchase a Membership Interest in the Company for an aggregate purchase price of $500.00 and (ii) hereby
expresses an interest to purchase a number of units of the SPAC that are sold to the public in the IPO at a price per unit of $10.00 (such number of units purchased by Subscriber, the “Purchased Public Units” and the aggregate price
paid, the “Total IPO Purchase Price”). In conjunction with such purchase of a Membership Interest, the LLC Agreement will reflect an allocation of a Founder Shares Percentage Interest as follows, subject to the other adjustments set
forth in this letter agreement, (a) if Subscriber purchases less than 1,999,999 Purchased Public Units, a Founder Shares Percentage Interest of 0% (and Subscriber shall forfeit its Membership Interest in the Company and this letter agreement
shall terminate); (b) if Subscriber purchases 1,999,999 Purchased Public Units, a Founder Shares Percentage Interest of 6% and (c) if Subscriber purchases 3,000,000 Purchased Public Units, a Founder Shares Percentage Interest of 8%, provided,
however, that if Subscriber purchases between 1,999,999 and 3,000,000 Purchased Public Units, then Subscriber’s Membership Interest in the Company shall be adjusted ratably (e.g., for 2,500,000 Purchased Public Units, a Founder Shares
Percentage Interest of 7%). 
 Notwithstanding the foregoing: 
  

	 	(a)	 in the event the SPAC’s final registration statement in connection with its IPO provides for an offering
of less than $200,000,000 of units (excluding the amount offered in connection with the underwriters’ overallotment option), the Subscriber’s Founder Shares Percentage Interest as calculated above shall be increased by a number of
percentage points equal to 0.60 multiplied by: the product of (x) 100 and (y) the remainder of (i) the Total IPO Purchase Price, divided by the aggregate value of the units offered pursuant to the SPAC’s final registration
statement in connection with its IPO (excluding the amount offered in connection with the underwriters’ overallotment option) (the “Registration Statement Offered Amount”); minus (ii) the quotient of (A) the
Total IPO Purchase Price divided by (B) $200,000,000 (e.g., for a Total IPO Purchase Price of $20,000,000 and an amount offered of $100,000,000, the Subscriber’s Founder Shares Percentage Interest would be increased from 6% to 12%);

  

	 	(b)	 in the event the underwriters in connection with the IPO exercise their overallotment option, the
Subscriber’s Founder Shares Percentage Interest as calculated above shall be decreased by a number of percentage points equal to 0.60 multiplied by: the product of (x) 100 and (y) the remainder of (i) the Total IPO Purchase Price,
divided by the Registration Statement Offered Amount; minus (ii) the quotient of (A) the Total IPO Purchase Price, divided by (B) the sum of the Registration Statement Offered Amount and the aggregate value of the
units offered in connection with the underwriters’ exercised overallotment option (e.g., for a Total IPO Purchase Price of $20,000,000, a Registration Offered Amount of $200,000,000 and an underwriter’s exercised overallotment option of
$30,000,000, the Subscriber’s Founder Shares Percentage Interest would be decreased from 6% to approximately 5.217391%); and 

	 	(c)	 in the event the Subscriber does not hold at least the Requisite Amount (as defined herein) of ordinary shares
of the SPAC at the time of the SPAC’s initial business combination (as described in the SPAC’s registration statement), then Subscriber shall forfeit its Membership Interest in the Company and Subscriber’s Founder Share Percentage
Interest shall be reduced to zero. The “Requisite Amount” of ordinary shares of the SPAC shall be equal to (x) 1,500,000 ordinary shares in the event the Purchased Public Units are 1,999,999 and (y) 2,000,000 ordinary shares in the event
the Purchased Public Units are 3,000,000; provided, however, that if the Purchased Public Units are greater than 1,999,999 but less than 3,000,000, then the Requisite Amount shall be adjusted ratably (e.g., for Purchased Public Units of 2,500,000, a
Requisite Amount of 1,750,000 ordinary shares). 

 Notwithstanding anything in the LLC Agreement to the contrary, this Agreement shall be
deemed to modify the LLC Agreement, including the schedule of members, as between the Company and Subscriber to give effect to the provisions of this Agreement. 

Subscriber will fund the purchase price of its Membership Interest in the Company on the date of this Agreement, provided that Subscriber
will pay to the Company, or the Company will refund to Subscriber (as the case may be), any amount owed to the other party in order to account for any adjustments to Subscriber’s Founder Shares Percentage Interest calculated pursuant to the
foregoing paragraphs. It shall be a condition precedent to the issuance by the Company of the Membership Interest to Subscriber that Subscriber execute the LLC Agreement in the form provided to Subscriber (as it may be modified by this Agreement).
The Founder Shares do not participate in the trust fund (“Trust Fund”) established by the SPAC for the benefit of its public shareholders as described in the SPAC’s registration statement to be filed in connection with the IPO
(“Registration Statement”) and, in the event the SPAC does not consummate an initial business combination, will expire worthless. The Company will retain voting and dispositive power over Subscriber’s Founder Shares until the
consummation of the Business Combination, following which time the Company will distribute such securities to Subscriber (subject to the provisions of this Agreement and the LLC Agreement, and subject to applicable
lock-up or escrow restrictions, as described below or pursuant to the terms of the business combination). 

Subscriber agrees that, in consideration of the subscription for a Membership Interest as contemplated hereby, it does not have any right,
title, interest or claim of any kind in or to any monies of the Trust Fund (“Claim”) and hereby waives any Claim it may have in the future against the Company and the SPAC and will not seek recourse against the Trust Fund for any
reason whatsoever except in respect of its Purchased Public Units. 
 The Founder Shares allocated to Subscriber’s Membership Interest
will be identical to the ordinary shares included in the units to be sold by the SPAC in the IPO, except that: 
  

	 	•	 	 the Company has agreed to vote the Founder Shares in favor of any proposed business combination;

  

	 	•	 	 unless otherwise agreed with the underwriters of the IPO and as set forth in the SPAC’s registration
statement, all Founder Shares will be subject to the lock-up provisions described in the Registration Statement, which lock-ups may extend beyond the distribution by the
Company to Subscriber of its Founder Shares following the consummation of the business combination. 

  

	 	•	 	 the Founder Shares will be subject to customary registration rights, which shall be described in the SPAC’s
registration statement; 

  

	 	•	 	 Subscriber will not participate in any liquidation distribution with respect to the Founder Shares (but will
participate in liquidation distributions with respect to any ordinary shares of the SPAC purchased directly by Subscriber in the IPO (including the Purchased Public Units) or in the open market) if the SPAC fails to consummate a business
combination; and 

  

	 	•	 	 the Founder Shares will include any additional terms or restrictions as are customary in other similarly
structured blank check company offerings or as may be reasonably required by the underwriters in the IPO in order to consummate the IPO, each of which will be set forth in the SPAC’s registration statement. 

  
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 Subscriber acknowledges that, pursuant to the LLC Agreement, if at or prior to the
SPAC’s initial business combination, the Company’s Manager deems it necessary for the Company to forfeit, transfer, exchange or amend the terms of all or any portion of the SPAC’s Founder Shares or Insider Warrants or to enter into
any other arrangements with respect to the Founder Shares or Insider Warrants (including, without limitation, the transfer of Membership Interests of the Company representing an interest in any of the foregoing), in any case to facilitate the
consummation of such initial business combination, including voting in favor of any amendment to the terms of the Founder Shares or Insider Warrants or the LLC Agreement (each, a “Change in Investment”), the Manager shall have the
authority to enter into any such agreement or arrangement involving a Change in Investment, vote in favor of any proposal involving a Change in Investment or otherwise facilitate or take any action to affect or permit any Change in Investment, in
each case without the consent of any other member of the Company or Subscriber. 
 Subscriber hereby represents and warrants that, as
applicable: 
  

	 	(a)	 it has been advised that the Membership Interest has not been registered under the Securities Act;

  

	 	(b)	 it is acquiring the Membership Interest for its own account for investment purposes only;

  

	 	(c)	 it has no present intention of selling or otherwise disposing of the Membership Interest in violation of the
securities laws of the United States; 

  

	 	(d)	 it is an “accredited investor” as defined by Rule 501 of Regulation D promulgated under the
Securities Act; 

  

	 	(e)	 it has, if required to do so, completed an IRS Form W-9 or Form W-8BEN (or similar form), as applicable; 

  

	 	(f)	 it has had both the opportunity to ask questions and receive answers from the officers and directors of the
Company and the SPAC and all persons acting on its behalf concerning the terms and conditions of the offer made hereunder; 

  

	 	(g)	 it is familiar with the proposed business, management, financial condition and affairs of the Company and the
SPAC; 

  

	 	(h)	 it has full power, authority and legal capacity to execute and deliver this letter and any documents
contemplated herein or needed to consummate the transactions contemplated in this letter; and 

  

	 	(i)	 this letter constitutes its respective legal, valid and binding obligation, and is enforceable against it.

 The Company represents that a true and correct copy of the LLC Agreement is attached as Exhibit A hereto. The LLC
Agreement has been duly adopted by the Company and there have been no resolutions approved by the Company to alter the LLC Agreement. 

The Company hereby covenants and agrees that after the date hereof, no agreement with any other person for the purchase of a Membership
Interest in the Company in connection with an expression of an interest to purchase a number of units of the SPAC that are sold to the public in the IPO will include terms, rights or other benefits that are more favorable in the aggregate to such
other person than the terms, rights and benefits in favor of Subscriber set forth herein and the Company will not waive any material obligation under the agreements with such other person unless, in any such case, Subscriber has been offered in
writing the opportunity to concurrently receive the benefits of all (but not some only) of such terms, rights and benefits or waiver. 

Subscriber shall have the right to review and approve (which approval shall not be unreasonably withheld, delayed or conditioned) any
disclosure of the terms hereof in the registration statement of the SPAC relating to the IPO. 

  
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 The Subscriber and the Company hereby agree that any Founder Shares Percentage Interest
provided for herein may be adjusted by the Company such that the Founder Shares reflected thereby are rounded to the nearest whole share.     

-the remainder of this page is intentionally left blank- 

  
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	Very truly yours,
	
	[SUBSCRIBER]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Accepted and Agreed:
	
	GENESIS PARK HOLDINGS
	
	By: Genesis Park II LP, as Manager
	
	By: Genesis Park II GP LLC, its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 -5- 

 Exhibit A 

LLC Agreement 

  
 -6-Exhibit 10.1 Consulting Services Agreement

Exhibit 10.1

CONSULTING SERVICES AGREEMENT

 

THIS CONSULTING AGREEMENT (this “Agreement”), is entered into as of December 1, 2020 (the “Effective Date”) by and between Singapore Volition Pte. Limited, a Singapore corporation with its office located at 111 Somerset Road, Level 3, TripleOne Somerset, Singapore 238164 (the “Company”) and PB Commodities Pte. Ltd, a Singapore corporation with its registered office located at 165 Gangsa Road, Unit 01-70, Singapore 670165 (the “Consultant”). 

 

(referred to herein individually as a “Party” or collectively as the “Parties”)

 

1.  Consulting Services.  

 

(a)  This Agreement supersedes and replaces in its entirety the existing employment agreement between Mr. Cameron Reynolds (the “Individual”) and Volition Diagnostics UK Limited dated March 7, 2017 which is hereby terminated upon mutual agreement and is of no further force and effect (other than the provisions expressly surviving termination). 

 

(b) Subject to and upon the terms and conditions set forth in this Agreement, the Company hereby retains the Consultant, and the Consultant hereby agrees to provide to the Company (or any Group Company pursuant to services agreements entered into by and between the Company and its affiliates) the consulting services attached to this Agreement as Exhibit A (as may be amended from time to time upon mutual agreement of the Parties, the “Services”).  The Services shall be performed in a timely, competent, professional and workmanlike manner by the Consultant and its employees.  Consultant may not use a subcontractor or other third party to perform its duties under this Agreement.  The Consultant shall make available to the Company, the Individual, one of its employees, to provide the Services under this Agreement. In rendering the Services pursuant to this Agreement, the Consultant shall act solely as an independent contractor and this Agreement shall not be construed to create any employee/employer, agent or representative relationship between the Consultant and the Company or any Group Company. The Consultant and the Individual each acknowledge and agree that all work performed by the Individual, or other employees of the Consultant, shall be performed as employees of the Consultant, on behalf of the Consultant and not as additional independent contractors.  For purposes of this Agreement, “Group Company” shall mean affiliated entities of the Company including its parent (VolitionRx Limited), subsidiaries, subsidiaries of parent and other related entities. 

 

 (c)  With respect to the conduct of and progress of the Services, the Consultant and the Individual will report to and liaise with the Board of Directors of the Company or any Group Company for which it is providing Services (as applicable, the “Board of Directors”) on any matter related to the Services. Consultant shall have the right to control and direct the means, manner and method by which the Services are performed.  

 

(d)  The Consultant shall provide the Services hereunder from its offices or the offices of the Company, from such other location that permits the performance of the Services, or as mutually agreed upon by the Consultant and the Company. The Company shall reimburse the Consultant for expenses incurred in connection with the provision of the Services in accordance with Section 3.

 

(e)The Consultant will perform the Services in accordance with all policies and procedures provided by the Company, including any third-party policies and procedures that the Company is required to comply with. 

 

2.  Compensation.  

 

(a)  Consultancy Fees. The Company shall, so long as the Consultant is providing Services to the Company under this Agreement, pay the Consultant the consulting fee as detailed in Exhibit A. The Company will not withhold any tax or social security payments due from the Consultant to any governmental taxing authority.  The Consultant will be responsible for the payment of any social security, income tax or similar payments required by law to be made in relation to this Agreement. The Consultant will indemnify and hold the Company harmless to the extent of any obligation imposed on the Company (a) to pay in withholding taxes or similar items or (b) resulting from a determination that the Consultant is not an independent contractor. Neither the Consultant nor the Individual shall have any claim against the Company for health or disability benefits, retirement benefits, social security, worker's compensation, unemployment insurance benefits, or employee benefits of any kind. 

 

 (b) VNRX Equity Compensation. The Individual shall be entitled to participate in the VolitionRx Limited (“VNRX”) stock incentive plan. The criteria for determining the amount of any allocations to the Individual under the stock incentive plan for any year during the Term of this Agreement shall be determined by the Board of Directors of VolitionRx Limited or a designated committee in its absolute discretion and upon the terms and conditions set forth in the award agreement and the governing plan. 

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3.  Expenses.  

 

(a)  The Company shall reimburse the Consultant for any actual expenses incurred by the Consultant while rendering Services under this Agreement so long as such expenses are reasonable and necessary, and appropriately documented.  

 

(b)  In claiming expenses the Consultant shall comply with the generally applicable policies, practices and procedures of the Company and/or the Group Company for submission of expense reports, receipts or similar documentation of such expenses (as amended from time to time), a copy of which will be provided. 

 

4.  Term; Termination.  

 

(a)  This Agreement shall take effect as of the Effective Date and shall continue thereafter in full force until terminated in accordance with the provisions of Section 4(b). The period commencing on the Effective Date and ending on the effective date of termination shall be referred to as the “Term”.  

 

(b)  This Agreement and the Services may be terminated at any time by either Party for any reason or no reason upon at least six (6) months prior written notice of termination to the other Party. 

 

(c)  Notwithstanding the provisions of Section 4(a), the Company may terminate this Agreement with immediate effect without notice and without any liability to make any further payment to the Consultant (other than in respect of amounts accrued prior to the termination date) if at any time:

 

(i)the Individual is not available to perform the Services for any single continuous period extending beyond 90 days;  

 

(ii)the Consultant or Individual commits any gross misconduct affecting the business of the Company or its affiliates; 

 

(iii)the Consultant or Individual commits any serious or repeated breach or non-observance of any material provisions of this Agreement; 

 

(iv)the Individual is convicted of any serious criminal offence involving a custodial penalty; 

 

(v)the Consultant makes a resolution for its winding up, makes an arrangement or composition with its creditors or makes an application to a court of competent jurisdiction for protection from its creditors or an administration or winding-up order is made or an administrator or receiver is appointed in relation to the Consultant; 

 

(vi)the Consultant or the Individual commits any fraud or any acts that are materially adverse to the interests of the Company or its affiliates. 

 

(d)  The rights of the Company under Section 4(c) are without prejudice to any other rights that it might have at law to terminate the Agreement or to accept any breach of this Agreement on the part of the Consultant as having brought the Agreement to an end. Any delay by the Company in exercising its rights to terminate shall not constitute a waiver thereof. 

 

(e)  The provisions of Sections 5, 6, 7, 8 and 9 shall survive the expiration or termination of this Agreement, in accordance with their provisions. 

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5.  Confidential Information.  

 

(a)  Any non-public information acquired by the Consultant from the Company or any Group Company, directly or indirectly, in writing, orally, or by inspection or observation of tangible items, including, without limitation, the actual or anticipated business, research or development of the Company or any Group Company, any proprietary information, trade secrets and know-how of the Company or any Group Company, and the terms of this Agreement, and any information, data and materials developed in the course of performing the Services contemplated by this Agreement (collectively, “Confidential Information”), will be the sole property of the Company and/or the Group Company, as applicable, and will be maintained in confidence and not used by the Consultant or the Individual except as necessary to perform the Services contemplated by this Agreement.  Confidential Information includes, but is not limited to, intellectual property, research, product plans, business operations, processes, products, services, customer lists, development plans, inventions, formulas, technology, designs, drawings, marketing, finances, and other business information.  Neither the Consultant nor the Individual will disclose any Confidential Information to any third party, without first obtaining the prior written consent of the Company or the Group Company, as applicable.  Each of the Consultant and the Individual will take reasonable precautions to prevent any unauthorized disclosure of Confidential Information. 

 

(b)  The provisions of Section 5(a) will not apply to any portion of the Confidential Information that: (i)  is or becomes publicly available through no fault of the Consultant; (ii) is lawfully obtained by the Consultant from any third parties who are not under any obligation of confidentiality to the Company or any Group Company with respect to such information and who otherwise have a right to make such disclosure; or (iii) is previously known to the Consultant, without confidentiality obligations, prior to disclosure by the Company or any Group Company as evidenced by the Consultant’s written files and records.  In addition, the Consultant may disclose Confidential Information pursuant to a request or order of any court or governmental agency, provided that the Consultant promptly notifies the Company or the Group Company, as applicable, of any such request or order and provides reasonable cooperation (at the Company’s or Group Company’s expense) in the efforts, if any, of the Company to contest or limit the scope of such request or order. 

 

(c)  Neither the Consultant nor the Individual shall improperly use or disclose to or for the Company’s or any Group Company’s benefit any confidential information or trade secrets of (i) any former, current or future employer, (ii) any person to whom the Consultant or the Individual has previously provided, currently provides or may in the future provide Services or (iii) any other person to whom the Consultant or the Individual owes an obligation of confidentiality. 

 

(d)  The Consultant and the Individual will promptly deliver to the Company or the Group Company, as applicable, upon the termination of this Agreement or upon the request of the Company or such Group Company, all documents and other tangible media (including all originals, copies, digests, abstracts, summaries, analyses, notes, notebooks, drawings, manuals, memoranda, records, reports, plans, specifications, devices, formulas, storage media, including software, and computer printouts) in the Consultant’s and the Individual’s actual or constructive possession or control that contain, reflect, disclose or relate to any Confidential Information, Inventions (as defined below) or intellectual property rights relating to Inventions. The restrictions upon disclosure and use of Confidential Information shall continue for a period of five (5) years from the expiration or termination of this Agreement.   

 

6.  Work Product.  

 

(a)  Each of the Consultant and the Individual hereby fully assigns and agrees to assign and transfer to the Company or the Group Company, as applicable, all rights, title and interest, in and to any ideas, inventions, improvements, technologies, designs, works of authorship, developments, discoveries, trade secrets or suggestions that (i) are made, conceived, invented, discovered, originated, authored, created, learned or reduced to practice by the Consultant or the Individual, either alone or together with others, in the course of rendering the Services to the Company or any Group Company, as applicable, under this Agreement (regardless of whether or not such Inventions were made, conceived, invented, discovered, originated, authored, created, learned or reduced to practice by the Consultant or the Individual at the Company’s or the Group Company’s facilities or during regular business hours or utilizing resources of the Company or the Group Company) or (ii) arise out of or are based upon any Confidential Information (collectively, “Inventions”), including, without limitation, all physical embodiments thereof provided by the Consultant or the Individual as well as all other rights therein throughout the world.  The obligations of the Consultant and the Individual under this Section 6 are in addition to any other obligations or duties of the Consultant and the Individual, whether express or implied or imposed by applicable law, to assign to the Company or the Group Company, as applicable, the Inventions.  Inventions that constitute trademark or copyrightable subject matter, including without limitation, terms, logos, branding or marketing collateral, packaging designs, promotional materials, business stationary or collateral, print or digital copy, artwork, and website design will be considered “works made for hire” as that term is defined in the United States Copyright Act. 

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(b)  Each of the Consultant and the Individual will give the Company or the Group Company, as applicable, prompt written notice of any Inventions and agrees to execute such instruments of transfer, assignment, conveyance or confirmation and such other documents as the Company, the Group Company, or its respective designees may request to evidence, confirm or perfect the assignment of all of the Consultant’s or the Individual’s (as applicable) right, title and interest in and to any Inventions in all countries. The Consultant’s and the Individual’s obligation to provide assistance will continue after the termination or expiration of this Agreement.  The Consultant and the Individual hereby waive and quitclaim to the Company and the Group Companies, as applicable, any and all claims of any nature whatsoever that the Consultant and the Individual may now or hereafter have for infringement of any rights assigned hereunder to the Company or any Group Company. Without the prior written consent of the Company or any Group Company, as applicable, neither the Consultant nor the Individual shall, at any time, file any patent or copyright application with respect to, or claiming, any Inventions.  

 

(c)  At the request of the Company or a Group Company, as applicable, the Consultant and/or the Individual will assist the Company or such Group Company (including, without limitation, by executing factually accurate patent applications and assignments of patents or copyrights) to obtain and enforce in any country in the world intellectual property rights relating to Inventions.  If and to the extent that, at any time after the Term, the Company or a Group Company requests assistance from the Consultant and/or the Individual with respect to obtaining and enforcing in any country in the world any intellectual property rights relating to Inventions, the Company shall compensate the Consultant and/or the Individual at a reasonable rate for the time actually spent by the Consultant or the Individual on such assistance. 

 

(d)  Neither the Company’s nor any Group Company’s title in Inventions and intellectual property rights relating to Inventions shall extend to any pre-existing products, materials, tools and methodologies that are proprietary to the Consultant or the Individual or to any third parties; or in any intellectual property rights embodied in such products, materials, tools and methodologies by implication, estoppel or otherwise except for the rights expressly granted under this Agreement.  Title to all such intellectual property shall remain vested in the Consultant, the Individual or any third party (as applicable).  If in the course of performing the Services, the Consultant or the Individual incorporates into any Inventions any other work of authorship, invention, improvement, the Consultant’s or the Individual’s pre-existing products, or proprietary information, or other materials owned by the Consultant or the Individual or in which the Consultant or the Individual has an interest, the Consultant or the Individual, as applicable, will grant and does now hereby grant to the Company or the Group Company, as applicable, a non-exclusive, royalty free, perpetual, irrevocable, worldwide license to reproduce, manufacture, modify, distribute, use, import, and otherwise exploit the material as part of or in connection with the Inventions. 

 

(e)If the Consultant’s or the Individual’s unavailability or any other factor prevents the Company or a Group Company from pursuing or applying for any application for any United States or foreign registrations or applications covering any related rights assigned to Company or a Group Company, then the Consultant or the Individual, as applicable, irrevocably designates and appoints the Company as the Consultant’s or the Individual’s agent and attorney in fact for such limited purpose.  Accordingly, the Company may act for and in the Consultant’s or the Individual’s behalf and stead to execute and file any applications in conformance with the terms hereof, and to do all other lawfully permitted acts to further the prosecution and issuance of the registrations and applications with the same legal force and effect as if executed by the Consultant or the Individual, as applicable. 

 

7.  No Conflicting Obligation.  Each of the Consultant and the Individual represents and warrants to the Company that (i) it is free to enter into this Agreement, (ii) it has and will have all requisite ownership, rights, and licenses to fully perform its obligations under this Agreement and to grant to the Company and the Group Companies, as applicable, all rights with respect to any related Inventions and rights to be granted under this Agreement, free and clear of any and all agreements, liens, adverse claims, encumbrances, and interests of any person or entity, (iii) nothing contained in the Inventions or required in order for the Consultant or the Individual to create and deliver the Inventions under this Agreement does or will infringe, violate, or misappropriate any intellectual property rights of any third party, (iv) no characteristic of any Invention does or will cause manufacturing, using, maintaining, or selling the Invention to infringe, violate, or misappropriate the rights of any third party, and (v) its performance of all of the terms of this Agreement and of all of its duties as a consultant to the Company or any Group Company do not and will not breach:  (a) any agreement to keep in confidence information acquired by the Consultant or the Individual in confidence or in trust; (b) any agreement to assign to any third party inventions made by the Consultant or the Individual; or (c) any agreement not to compete against the business of any third party. Each of the Consultant and the Individual further represents that it has not made and will not make any agreements in conflict with this Agreement. 

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8.  Non-Compete.  It is accepted and acknowledged that the Consultant and the Individual may have employment, consultancy or business interests other than those of the Company and any Group Company and has declared any conflicts that are apparent at present.  In the event that the Consultant or the Individual becomes aware of any potential conflicts of interest, these will be disclosed to the Company as soon as apparent. Each of the Consultant and the Individual agrees that it shall not provide services (whether in the nature of employment services, consulting services or otherwise) to any direct commercial competitor of the Company or any Group Company without the prior written consent of the Company for a period of six (6) months from the expiration or termination of this Agreement.

 

9.  Miscellaneous.  

 

(a)  This Agreement represents the entire agreement of the Parties with respect to the arrangements contemplated hereby. No prior agreement, whether written or oral, shall be construed to change, amend, alter, repeal or invalidate this Agreement. This Agreement may be amended only by a written instrument executed in one or more counterparts by the Parties. 

 

(b)  No consent to or waiver of any breach or default in the performance of any obligations hereunder shall be deemed or construed to be a consent to or waiver of any other breach or default in the performance of any of the same or any other obligations hereunder.  Failure on the part of either Party to complain of any act or failure to act of the other Party or to declare the other Party in default, irrespective of the duration of such failure, shall not constitute a waiver of rights hereunder and no waiver hereunder shall be effective unless it is in writing, executed by the Party waiving the breach or default hereunder.  Exercise or enforcement by either Party of any right or remedy under this Agreement will not preclude the enforcement by the Party of any other right or remedy under this Agreement or that the Party is entitled by law to enforce. 

 

(c)  This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns.  This Agreement may be assigned by the Company to any affiliate of the Company and to a successor of its business to which this Agreement relates (whether by purchase or otherwise).  Neither this Agreement nor any rights under this Agreement may be assigned or otherwise transferred by the Consultant, in whole or in part, whether voluntarily or by operation of law, without the prior written consent of the Company.  Any assignment in violation of the foregoing will be null and void. 

 

(d)  Any notice, report, payment or document to be given by one Party to the other shall be in writing and shall be deemed given when delivered personally or on the next business day after transmission (in the case of email delivery of a “.pdf” format data file (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party). 

 

(e)  This Agreement shall be governed by and construed in accordance with the laws of the Republic of Singapore, without reference to the principles of conflict of laws. All disputes concerning this Agreement will first be negotiated between the Parties in good faith. If the Parties are unable to settle any difference, dispute, conflict or controversy (a “Dispute”), which arises out of or in connection with this Agreement or its performance, including without limitation any dispute regarding its existence, validity, termination of rights or obligations of any party, then such Dispute shall be referred to and finally resolved by arbitration in Singapore in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC”) in force at the time of referral of the Dispute (the “Rules”).  The place of arbitration shall be Singapore and the proceedings shall be conducted in the English language. There shall be a single arbitrator and the appointing authority shall be the Chairman of the SIAC. 

 

(f)  Section headings of this Agreement are for reference only and shall not affect its interpretation. In the event that any term, condition or provision of this Agreement should be held invalid, unlawful or unenforceable by a court of competent jurisdiction, such court is hereby authorized to amend such provision so as to be enforceable to the fullest extent permitted by law, and all remaining provisions shall continue in full force without being impaired or invalidated in any way. 

 

(g)  The parties agree that any breach or threatened breach of Sections 5, 6 or 8 of this Agreement by the Consultant or the Individual would cause irreparable harm to the Company; and that money damages will not provide an adequate remedy. In the event of a breach or threatened breach of Sections 5, 6 or 8 of this Agreement by the Consultant or the Individual, the Company shall, in addition to any other rights and remedies it may have, be entitled to an injunction restraining the Consultant or the Individual from disclosing or using, in whole or in part, any Confidential Information or Inventions or intellectual property rights relating to Inventions, without the need to post bond. 

 

(h)  This Agreement may be executed in counterparts, all of which together shall for all purposes constitute one agreement binding on each of the parties hereto notwithstanding that each such Party shall not have signed the same counterpart. 

 

[Signature page follows]

5

IN WITNESS WHEREOF, the Parties have signed this Agreement as of the Effective Date intending it to take effect as an instrument under seal.

 

 

SINGAPORE VOLITION PTE LIMITEDPB COMMODITIES PTE LTD 

 

 

 

 /s/ Rodney Rootsaert                                /s/ Cameron Reynolds                         

By: Rodney RootsaertBy: Cameron Reynolds 

Position: DirectorPosition: Director 

Date: November 10, 2020Date: November 10, 2020 

 

 

Notice AddressNotice Address 

111 Somerset Road,165 Gangsa Road,  

Level 3, TripleOne SomersetUnit 01-70, 

Singapore 238164Singapore, 670165 

 

E-Mail:E Mail: 

 

 

 

Acknowledged and agreed:

 

INDIVIDUAL

 

 

 /s/ Cameron Reynolds                          

Cameron Reynolds

6

Exhibit A

 

Scope of engagement: Consultant

 

Services to be performed: 

 

During the Term the Consultant shall procure that the Individual shall be responsible for all areas that would be expected from a Group Chief Executive Officer, as reasonably and lawfully directed by the Board of Directors of VNRX. 

 

Consulting Fee:

 

Fees: From the Effective Date the Monthly Fee shall be US$35,650 payable by the Company to the Consultant, based on the Individual spending all of his Normal Working Hours (as defined below) in the performance of the Services. 

 

Between the Effective Date and December 31, 2021, the Monthly Fee shall be payable in Singapore Dollars which as at the Effective Date shall be SGD48,450.

 

With effect from January 1, 2022, and annually thereafter, the Consultant will elect, within fifteen (15) days of the first day of each calendar year respectively, to either (i) continue to be paid the Monthly Fee in Singapore Dollars, calculated at the currency conversion rate as quoted by Oanda.com as at the close of business on the last business day of the calendar year; or (ii) be paid the Monthly Fee in US Dollars.

 

Payment terms:The Monthly Fee shall be payable to the account nominated by the Consultant in accordance with the Company’s normal payment practices. 

 

“Normal Working Hours” means a minimum of a forty hour week, Monday through Friday, excluding public holidays in the Republic of Singapore.

7

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