Document:

exhibit104.htm - Generated by SEC Publisher for SEC Filing

 

SUPPLY AGREEMENT

 

This Supply Agreement (the "Agreement") is
entered into as of this 1st day of July 2011 (the "Effective Date"), by
and between Parallax Diagnostics Ltd., Inc. a
Nevada corporation with offices at 2 Canal Park Cambridge, MA (or PRLX")
and Meyers Stevens Group Inc. at 7137 Telegraph Road, Montebello, California
90640 ("Supplier") (together the "Parties").

WHEREAS, Supplier possesses certain skills and
expertise in manufacturing diagnostic assays; 

WHEREAS, PRLX wishes to retain the services of Supplier
on the terms and conditions set forth below, and 

WHEREAS, Supplier is willing to supply diagnostic
assays to the PRLX, on the terms and conditions set forth below, 

NOW, THEREFORE, the parties agree as
follows:

1.                 
Services.  Supplier will perform the services set forth on
Exhibit A, or as amended by mutual written agreement.  It is agreed and
understood that the nature and manner of services provided hereunder shall be
within Supplier’s area of professional expertise and/or historical experience.

(a)               
Direction.  Supplier shall be directed by   Michael Redmond or
his successor.

(b)              
Start Date.  Supplier's  obligations to PRLX shall begin on July
1 2011.

(c)               
Term.  This Agreement shall commence on the Start Date and,
unless earlier terminated in accordance with Section 15, shall continue up to
the time that the last milestone on Exhibit A is successfully completed (the
"Term").  The Term can be automatically extended in three month
increments upon mutual agreement by the Parties. Any extension shall be in
writing.

2.                 
Method of Performance.  The Supplier shall determine the
method, details, and means of performing and fulfilling his or her duties
hereunder.

3.                 
Other Employment.  The PRLX acknowledges and agrees that Supplier
may assume other commitments, and has ongoing or intends to obtain engagements
outside of Supplier's work for PRLX during the Term ("Other
Engagements"); provided that Supplier fully complies with the
confidentiality obligations contained in Section 9.  Supplier shall reasonably
notify PRLX of any Other Engagements, which may pose a conflict of interest, it
being understood that such notice shall allow PRLX sufficient basis to proceed
in accordance with Section 15(b)(2), below.  

4.                 
Status as Independent Contractor; Nature of Relationship.  It
is agreed and understood that the Supplier is an independent contractor and
will not act as an agent nor shall he or she be deemed an employee of Supplier
for the purposes of any employee benefit programs,
income tax withholding, FICA taxes, unemployment benefits, and worker’s
compensation insurance, or otherwise.  Supplier shall not enter into any
agreement or incur any obligations on PRLX’s behalf, or commit PRLX in any
manner without PRLX’s prior written consent.

 

 

 

 

5.                 
Resources.  Supplier shall provide such tools and facilities
as Supplier may deem necessary in the performance of Supplier's duties
hereunder.  Upon Supplier's reasonable request, the PRLX shall provide such
incidental resources to Supplier as the PRLX in its discretion believes may be
warranted.  

6.                 
Compensation.  It is agreed and understood, that subject to
the Term and performance and under Section 1, the Supplier shall be paid as set
forth in Exhibit A. Supplier shall be solely responsible for and agrees that he
or she will in a timely fashion pay all federal, state and other taxes on the
amounts set forth in this Section. 

7.                 
Expenses.   All expenses are included in the pricing outlined
in Exhibit A. 

8.                 
Compliance with all Laws.  Supplier agrees that in the course
of providing his services to the PRLX, he or she will not engage in any
practice or commit any acts in violation of any federal, state or local law or
ordinance.

9.                 
Non-Disclosure Obligations.

(a)               
Definition of "Information."  “Information” shall mean
materials, data, or information in any form, whether written, oral, digital, or
otherwise, provided by or obtained from PRLX, PRLX's agents, or PRLX's
contractors in connection with the Supplier's engagement by PRLX.  Technical or
business information of a third person furnished or disclosed to the Supplier
under this Agreement shall constitute Information of PRLX unless otherwise
specifically indicated in writing.

(b)              
Confidential Information.  For purposes of this Agreement, the term "Confidential
Information" shall mean Information regarding PRLX's business
including, but not limited to, Information regarding diagnostic and medical
device products,  processing and manufacturing capabilities, copyrighted or
patentable subject matter, research, development, innovations, inventions,
designs, technology, improvements, trade secrets, business affairs and
finances, customers, employees, operations, facilities, consumer markets,
products, capacities, systems, procedures, security practices, data formats,
and business methodologies.  

(c)               
Supplier's Obligations.  All
Confidential Information relating to or obtained from PRLX by the Supplier
shall be maintained in confidence by the Supplier, and the Supplier shall use
best efforts to protect and safeguard the Confidential Information. 

(d)              
Use of Confidential Information.  Without PRLX's prior written
approval, the Supplier: (a) shall not use Confidential Information directly or
indirectly for any purpose except in connection with the services the Supplier
performs on behalf of PRLX; and (b) shall not disclose, sell, assign, transfer,
share or lease Confidential Information of PRLX, or make such Confidential
Information available to, or make it available for the
use or benefit of, any third party.

 

	

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(e)               
Exceptions to Confidentiality Obligations. 
The obligations of this Agreement shall not apply to Confidential
Information which the Supplier shall demonstrate, by clear and convincing
evidence: 

1.                 
is or becomes publicly available (other than through unauthorized
disclosure under this Agreement); 

2.                 
is already known by the Supplier without an obligation of
confidentiality prior to the disclosure thereof by PRLX, as evidenced by the Supplier's
written records, maintained in the ordinary course, existing before the first
date of Supplier's engagement with PRLX; or 

3.                 
is rightfully received by the Supplier from a third party free of any
obligation of confidentiality.

10.             
Former Engagement Information.  The Supplier shall not,
during the Supplier's engagement with the PRLX, improperly use or disclose any
proprietary information or trade secrets of any former employer, hiring party,
or other person or entity with which the Supplier has an agreement or duty to
keep in confidence, if any, and shall not bring onto the premises of the PRLX
any unpublished document or proprietary information belonging to any such employer,
person or entity unless consented to in writing by such employer, person,
hiring party, or entity.

11.             
Court or Agency Order.  In the event the Supplier receives a subpoena or
order of a court or administrative body requesting disclosure of PRLX’s Confidential
Information, the Supplier agrees (a) that, as promptly as possible after
learning of such disclosure obligation and before making such disclosure, the Supplier
shall notify PRLX of such obligation to make such disclosure, to allow PRLX an
opportunity to object to such disclosure or to obtain a protective order or
other appropriate relief; (b) that the Supplier shall provide such cooperation
and assistance, at PRLX's expense, as PRLX may reasonably request in any effort
by PRLX to obtain such relief; and (c) that the Supplier shall take all
appropriate steps to limit the amount and scope of Confidential Information so
disclosed and to protect its confidentiality.

12.             
Non-Solicitation.   The Supplier agrees not to solicit or
encourage employees of Supplier to work for a Competitor during the Term, and
for a period of one year after expiration of the Term. "Competitor"
means any person or organization, including the Supplier him or herself,
engaged in, or about to become engaged in, research on or the acquisition,
development, production, distribution, marketing or providing of a Competing
Product.  "Competing Product" means any product, process, or service
of any person or organization other than the PRLX, in existence or under
development, which both (A) is identical to, substantially the same as, or an
adequate substitute for any product, process, or service of the PRLX, in
existence or under development, on which the Supplier works during the Term or
about which the Supplier acquires Confidential Information, and (B) is (or
could reasonably be anticipated to be) marketed or distributed in such a manner
and in such a geographic area as to actually compete with such product, process
or service of the PRLX.

 

	

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13.             
Inventions.  For purposes of this Agreement, the term "Inventions"
shall mean any and all inventions, original works of authorship, developments,
concepts, improvements, or trade secrets (whether or not patentable or
registrable under copyright or similar laws) which relate to the business of
the PRLX and which the Supplier either (i) solely or jointly conceives,
develops, or reduces to practice during PRLX time, at the PRLX's direction, or
using PRLX equipment or resources; or (ii) solely or jointly conceives,
develops, or reduces to practice based on PRLX Confidential Information.  The Supplier
will promptly make full written disclosure of Inventions to the PRLX and will
hold such Inventions in trust for the sole right and benefit of the PRLX.  The Supplier
hereby assigns to the PRLX all the Supplier's right, title and interest in and
to Inventions.  Without limiting the foregoing, the Supplier further
acknowledges that all Inventions (x) which are original works of authorship;
(y) which are made by the Supplier (solely or jointly with others) within the
scope of the Supplier's engagement hereunder; and (z) which are protectable by
copyright, shall be deemed, to the extent applicable, “works made for hire,” as
that term is defined in the United States Copyright Act.  It is agreed and
understood that Supplier inventions, original works of authorship,
developments, concepts, improvements, or trade secrets (whether or not
patentable or registrable under copyright or similar laws) which do not qualify
as "Inventions" hereunder shall not be subject to this Section 13.  

14.             
Patent and Copyright Registration.  The Supplier agrees to
assist the PRLX, or its designee, at the PRLX’s expense, in every reasonable
way to secure the PRLX’s rights in the Inventions and any copyrights, patents,
mask work rights or other intellectual property rights relating thereto in any
and all countries, including the disclosure to the PRLX of all pertinent
information and data with respect thereto and the execution of all
applications, specifications, oaths, assignments and all other instruments which
the PRLX shall deem necessary in order to apply for and obtain such rights and
in order to assign and convey to the PRLX, its successors, assigns and nominees
the sole and exclusive rights, title and interest in and to such Inventions,
and any copyrights, patents, mask work rights or other intellectual property
rights relating thereto.

15.             
Termination.   This Agreement may be terminated without
liability as follows:

(a)               
For Cause.  If either Party is in material breach, the
non-breaching party may terminate this Agreement upon providing the breaching
party (a) with written notice, specifying the breach, and (b) with a ten (10)
day opportunity to cure, commencing upon the effective date of such notice.

(b)              
For Convenience. Either Party may terminate this agreement upon
fifteen (15) days notice.

16.             
Survival.   The following provisions shall survive the
expiration or termination of this Agreement:  Sections the applicable part of 6
(success fee) 9, 11, 12, 14, and 17. 

17.             
Return of Property.  Supplier expressly agrees that upon
completion of his or her consulting services under this Agreement, or at any
time prior to that time upon request of the PRLX, Supplier will return to the PRLX
all property of the PRLX obtained or received by Supplier during the Term of
this Agreement including, but not limited to, any and all files, computers,
computer equipment, software, diskettes or other storage media, documents, papers, records, notes, agenda, memoranda,
plans, calendars and other books and records of any kind and nature whatsoever
containing information concerning the PRLX or its customers or operations.  

 

	

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18.             
No Oral Modification.  This Agreement may not be changed
orally, and no modification, amendment, or waiver of any provision contained in
this Agreement, or any future representation, promise, or condition in
connection with the subject matter of this Agreement shall be binding upon any
party hereto, unless made in writing and signed by such party.

19.             
Entire Agreement.  This Agreement contains the entire
agreement between the Parties and supersedes any and all previous agreements of
any kind whatsoever between them, whether written or oral, and all prior and
contemporaneous discussions and negotiations have been and are merged and
integrated into, and are superseded by, this Agreement.  This is an integrated
document.

20.             
Severability.  In the event that any provision of this
Agreement or the application thereof should be held to be void, voidable,
unlawful or, for any reason, unenforceable, the remaining portion and
application shall remain in full force and effect, and to that end the
provisions of this Agreement are declared to be severable.

21.             
Governing Law.  This Agreement is made and entered into, and
shall be subject to, governed by, and interpreted in accordance with the laws
of the Commonwealth of Massachusetts and shall be fully enforceable in the
courts of that state, without regard to principles of conflict of laws.  The
Parties (i) agree that any suit, action or other legal proceeding arising
out of this Agreement may be brought in the United States District Court for
the District of Massachusetts, or if such court does not have jurisdiction or
will not accept jurisdiction, in any court of general jurisdiction in Suffolk
County, Massachusetts; (ii) consent to the jurisdiction of any such court;
and (iii) waive any objection which they may have to the laying of venue
in any such court.  The Parties also consent to the service of process,
pleadings, notices or other papers by regular mail, addressed to the party to
be served, postage prepaid, and registered or certified with return receipt
requested.

22.             
Notices.  All notices, requests, consents, approvals and
other communications required or permitted under this Agreement
("Notices") shall be in writing and shall be delivered to the addresses
listed above, by mail, by hand, or by facsimile transmission, unless otherwise
provided in this Agreement.  Such Notices shall be effective (i) if sent by
mail, three business days after mailing; (ii) if sent by hand, on the date of
delivery; and (iii) if sent by facsimile, on the date indicated on the
facsimile confirmation.  Any party may change its address or facsimile number
for notification purposes by giving all of the individuals and entities noted
above notice, in accordance with the notice provisions set forth in this
Section, of the new address or facsimile number and the date upon which it will
become effective.

23.             
No Assignment.  Neither this Agreement nor any portion hereof
is assignable.  

24.             
Counterparts.   This Agreement may be executed in counterparts,
and each counterpart, when executed, shall have the effect of a signed
original.

 

	

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IN WITNESS WHEREOF, the Parties hereto have caused
this Agreement to be executed by the undersigned duly authorized persons as of
the day and year above stated.

 

Parallax Diagnostics Ltd.

 

 

By:_  /s/ J. Michael Redmond __

Name: Michael Redmond

Title:   CEO

 

 

 

Myers Stevens Group, Inc.

 

 

 

By:__/s/ Victor Parker_____ 

Name: Victor Parker

Title:   President

 

 

 

	

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EXHIBIT “A”

 

SUPPLIER SERVICES 

AND

PAYMENT SCHEDULE

 

 

 

 

 

Statement of Work

 Supplier will manufacture assays and supply
a Data Package for Parallax. The Data Package will include all existing
Standard Operating Proceedures (SOP’s) related to the manufacture of the Target
assays as well as new SOP’s that Supplier will create in order to manufacture
Target assays. New SOP’s will include a flow chart detailing the procurement
and manufacture of assays, a supplier list, methods for manufacture, quality
control procedures and any other documents or procedures necessary for the
manufacture of Target Assays.

 Based on raw material availability and
manufacturing time this quote is based on one or a combination of the CRP
assay, HCG assay and/or Rotavirus assay. The cost below will yield
approximately 100 to 200 fully functional assay test devices for internal
investigational use. Estimated delivery of the assays is eight (8) weeks from
the Effective Date of this Agreement.

Material
Qualification/Reagent & Membrane Processing/Quality Control (76 hours)

Device Assembly/Reagent Filling/Packaging (20 hours) 

 

 LABOR
COST- $6,874.00

 

RAW
MATERIAL/REAGENT COST

 

Mold
Set Up

Cassette
1,000 part minimum

Cassette
Cap 1,000 part minimum

Membrane

Anti
Body Conjugate

Color
Development Solution

Calibrator
Controls

Kit
Packaging Supplies

 

 RAW
MATERIAL REAGENT/PACKAGING COST- $3,320.00

 

 

	

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The price quotes above are firm and fixed. Payments by Parallax to
Supplier will be made in two installments: $5,000.00 upon signing of this
Agreement and $5194.00 when the Data Package is delivered to PRLX, functional
test devices pass qualification testing and are received by Parallax. All
payments are net 15 days after the completion of the milestone. 

 

 

 

 

 

 

 

	

  8RIII Q2 2011 Exhibit 10.1

Exhibit 10.1

AMENDMENT NO. 1
TO THE
ADVISORY AGREEMENT
 
This amendment no. 1 to the amended and restated Advisory Agreement dated as of January 21, 2011 (the “Advisory Agreement”) between KBS Real Estate Investment Trust III, Inc., a Maryland corporation (the “Company”), and KBS Capital Advisors LLC, a Delaware limited liability company (the “Advisor”), is entered as of May 6, 2011 (the “Amendment”).  Capitalized terms used herein but not defined shall have the meaning set forth in the Advisory Agreement.

WHEREAS, upon the terms set forth in this Amendment, the Advisor has agreed to amend and restate Section 9.01(i) of the Advisory Agreement and to limit the Company's obligation to pay Organization and Offering Expenses as set forth below. 

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained herein, the parties hereto agree that Section 9.01(i) of the Advisory Agreement is hereby amended and restated in its entirety as follows:

Organization and Offering Expenses; provided, however, that the Company shall not reimburse the Advisor to the extent such reimbursement would cause the total amount spent by the Company on Organization and Offering Expenses to exceed 15% of the Gross Proceeds raised as of the date of the reimbursement and provided further that within 60 days after the end of the month in which an Offering terminates, (a) the Advisor shall reimburse the Company to the extent the Company incurred Organization and Offering Expenses excluding underwriting compensation (which includes selling commissions, dealer manager fees and any other items viewed as underwriting compensation by the Financial Industry Regulatory Authority) exceeding 2% of the Gross Proceeds raised in the completed Offering and (b) the Advisor shall reimburse the Company to the extent the Company incurred Organization and Offering Expenses in the aggregate exceeding 15% of the Gross Proceeds raised in the completed Offering; the Company shall not reimburse the Advisor for any Organization and Offering Expenses that are not fair and commercially reasonable to the Company, and the Advisor shall reimburse the Company for any Organization and Offering Expenses that are not fair and commercially reasonable to the Company;

Signature page follows.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the date and year first written above.

	
			
	 
	 
	 

	 
	 
	KBS REAL ESTATE INVESTMENT TRUST III, INC.

   By: /s/ Charles J. Schreiber, Jr.
         Charles J. Schreiber, Jr., Chief Executive Officer

KBS CAPITAL ADVISORS LLC

   By:  PBren Investments, L.P., a Manager

By:  PBren Investments, LLC, as general partner

By: /s/Peter M. Bren
Peter M. Bren, Manager

By:  Schreiber Real Estate Investments, L.P., a Manager

By:  Schreiber Investments, LLC, as general partner

By: /s/ Charles J. Schreiber, Jr.
Charles J. Schreiber, Jr., Manager

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