Document:

f8k090611ex10i_pplstring.htm

Exhibit 10.1

 

Strategic Marketing Agreement

AGREEMENT made as of the 6th day of September 2011 (the “Effective Date”) by and between Cameo Stars, LLC, a New York limited liability company having its offices at 122 West 27th Street, 10th Floor, New York, New York 10001 (“Cameo Stars”)
and PeopleString Corporation, a Delaware corporation having its offices at 157 Broad Street, Suite 109, Red Bank, New Jersey 07701 (“PeopleString”).

W I T N E S S E T H:

WHEREAS, PeopleString desires to obtain the benefits of the knowledge, expertise, contacts and relationships of Cameo Stars and its principals in connection with the development of its Share it Up technology (“Share it Up”), and Cameo Stars is agreeable thereto.

WHEREAS, PeopleString desires to create celebrity invitations to PeopleString using the Cameo Stars Platform.

WHEREAS, PeopleString desires Cameo Stars to Market its Share It Up Technology platform to national brands and marketers.

NOW, THEREFORE, in consideration of the mutual covenants, conditions and promises contained herein, the parties hereby agree as follows:

1.           Scope of Agreement.  PeopleString hereby retains Cameo Stars, and Cameo Stars hereby accepts and agrees, to provide marketing services and act as an independent general advisor and consultant to PeopleString on all matters relating to the development of Share it Up and PeopleString. Specifically, during the term of this Agreement, Cameo Stars shall devote such amount of its principal’s working time, attention, knowledge and skills as shall be reasonably necessary in Cameo
Stars judgment to further Share it Up and the business of PeopleString generally.  Cameo Stars shall perform the services hereunder primarily at Cameo Stars’ principal place of business.

 

2.           Term.  The term of this Agreement shall commence on the effective date and shall continue until terminated by either party upon no less than 14 days prior written notice to the other party; provided, however, the term of this Agreement shall continue for a minimum period of two (2) months.

3.           Consideration.  In full consideration of the services to be performed hereunder by Cameo Stars and subject to the terms hereof, PeopleString shall pay to Cameo Stars and Cameo Stars shall accept:

(a)           Marketing  Fee.  A flat monthly retainer in the amount of $25,000 per month payable within twenty (20) days of the end of each month during the term of this Agreement (the “Consulting Fee”).  The Consulting Fee shall be recoupable only against Commissions earned pursuant to Section 3(b) below.

 

  

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(b)           Commission.  PeopleString shall pay to Cameo Stars a commission (a “Commission”), equal to fifty percent (50%) of net revenues derived from Share it Up which accrue during the term of this Agreement and are contacted, sourced and introduced by Cameo Stars.  Commissions earned by Cameo Stars hereunder shall be calculated and paid on a monthly basis within twenty (20) days of the end of each month during the term.  PeopleString shall provide Cameo Stars with reasonably complete financial and
accounting records with respect to the Share it Up revenues and the calculation of Commission hereunder, together with each payment of Commissions.  PeopleString shall maintain books of account concerning each payment report for two (2) calendar years following the rendering thereof. The obligation of PeopleString to pay Commissions to Cameo Stars with respect to any Share it Up revenues accrued during the term shall survive the termination hereof.

 

(c)           Expenses.  PeopleString shall reimburse Cameo Stars for all reasonable and necessary business, entertainment and travel expenses and disbursements actually incurred as a direct result of, or in connection with, the services to be provided by Cameo Stars hereunder, to the extent that receipts, vouchers or other documentation reasonably satisfactory to PeopleString are submitted by Cameo Stars in accordance with PeopleString’s expense reimbursement policies from time to
time in effect.  Expenses over $100 must be pre –approved by PeopleString.

 

4.           Purchase Option.   PeopleString shall have the right (the “Option”) on seven (7) days written notice to Cameo Stars (the “Exercise Notice”), at any time prior to March 31, 2012 or the earlier termination of this Agreement, to acquire substantially all of the assets of Cameo Stars, LLC, including but not limited to those relating to   the operation of its application on Facebook at
http://apps.facebook.com/cameostars (the “Application”), from www.cameostars.com (the “Website”) (the “Business”), including, without limitation, intellectual property (including trademarks and copyrights), websites, URLs, customer contracts, marketing materials, customer lists, inventory and personal property to the extent directly or indirectly related to the foregoing (the “Assets”).  The acquisition (the “Acquisition”) would be structured on a tax favorable basis to Cameo Stars and PeopleString to the extent practical, and in all circumstances be subject to the execution, as soon as feasible following the exercise of the Option by PeopleString, of a formal definitive acquisition agreement (the “Definitive Agreement”), which the parties agree to negotiate in good faith, and which shall contain customary
representations, warranties, indemnities, covenants and other provisions normally contained in definitive agreements with respect to for transactions of this size and nature and shall provide for the various matters set forth in this Section 4.

 

(a) Consideration. 4,000,000 shares (the “Shares”) of PeopleString common stock, $0.00001 par value per share (the “Common Stock”) issuable at the Closing (as defined below).

(b) Closing. The consummation of the transaction (the “Closing”) shall occur on, and the consideration therefor paid in full on a date to be determined by PeopleString up to the 90th day following delivery of the Exercise Notice by PeopleString; provided, however, such 90-day period shall be tolled during the negotiation of the Definitive Agreement.

 

  

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(c) Due Diligence. At any time during the term of this Agreement (including, prior to the delivery of a Exercise Notice), PeopleString may commence its “due diligence” investigation of Cameo Stars, and its books, records, business and affairs.

(d) Key Executives.  At Closing, PeopleString shall enter into employment agreements with Daren Hornig and Gene Cornfield providing for, among other things, salaries at a rate of $120,000 annually and provide each such employee with benefits and other perquisites made available to PeopleString’s executives.  The foregoing employees will perform their services for PeopleString primarily in an office to be maintained following the Closing
in New York City and shall be reimbursed their business expenses in accordance with PeopleString’s policy for executives.

 

5.           Confidential Information.  Cameo Stars acknowledges that the information, observations and data disclosed or otherwise obtained by it while engaged by PeopleString concerning the business and affairs of PeopleString (hereafter, collectively “Confidential Information”) are the property of PeopleString.  Therefore, Cameo Stars agrees that it shall not directly or indirectly, either during the term of this Agreement or thereafter, disclose to any
unauthorized person for its own purposes any Confidential Information without the prior written consent of PeopleString, unless and to the extent that the aforementioned matters become generally known to and available for use by the public other than as a result of Cameo Stars’ acts or omissions or as may be required in response to any summons or subpoena or in connection with any litigation (it being understood that, to the extent practicable, Cameo Stars shall provide PeopleString prompt notice of any such event and cooperate in good faith to enable PeopleString to participate to protect its interests in such Confidential Information).  Cameo Stars acknowledges that any such Confidential Information is of a confidential and secret character and of great value to PeopleString and shall deliver to PeopleString as of the termination of this Agreement, or at any other time
PeopleString may request, all memoranda, notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and copies thereof) relating to the Confidential Information, or business of PeopleString which it then may possess or have under its control.

 

6.           Non-Solicitation of Related Parties. The parties hereto covenant and agree that each shall not, directly or indirectly, during the term of this Agreement and the Restricted Period (as hereinafter defined) solicit, or otherwise engage in any negotiations with, any officer, employee, consultant, agent or other person who receives compensation from either party (a “Related Party”), to terminate or discontinue such relationship, or accept any employment, consulting or other
business relationship with a third party, nor will either party, directly or indirectly, during the term of this Agreement and the Restricted Period hire or retain the services of any Related Party.  For purposes of this paragraph and it interpretation, (i) the term “Restricted Period” shall mean the period of time commencing on the date hereof and extending to the date which occurs one (1) year following the termination of this Agreement, provided, however, that the determination of a Related Party shall mean and include any person who served in any capacity as a Related Party at any time during the two (2) year period prior to such determination.

 

  

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7.           Relationship of Cameo Stars to PeopleString. Cameo Stars shall be an independent contractor to PeopleString; any and all contracts of employment made by Cameo Stars and any and all other contracts which may be made on behalf of Cameo Stars, for and in connection with Cameo Stars’ performance under this Agreement, shall be made by Cameo Stars as principal and not as an agent of Company; and that Cameo Stars will make full payment of compensation and other amounts payable in
connection with any matter on Cameo Stars’ part to be performed under any such arrangement.  In no event shall Cameo Stars be considered an agent of PeopleString; under no circumstances shall Cameo Stars have, or claim to have, power of decision in any activities on behalf of PeopleString.  Cameo Stars acknowledges that as an independent contractor to PeopleString, Cameo Stars is solely responsible for the payment of all taxes related to the consideration paid to it hereunder.

 

7.           Cumulative Rights.  The rights and remedies granted in this Agreement are cumulative and not exclusive, and are in addition to any and all other rights and remedies granted and permitted under and pursuant to law.

 

8.           No Waiver.  The failure of any of the parties hereto to enforce any provision hereof on any occasion shall not be deemed to be a waiver of any preceding or succeeding breach of such provision or any other provision.

 

9.           Entire Agreement.  This Agreement constitutes the entire agreement and understanding of the parties hereto and no amendment, modification or waiver of any provision herein shall be effective unless in writing, executed by the party charged therewith.

 

10.           Governing Law.  This Agreement shall be construed, interpreted and enforced in accordance with and shall be governed by the laws of the State of New Jersey without regard to the principles of conflicts of laws.

 

11.           Successors and Assigns.  This Agreement is intended to bind and inure to the benefit of and be enforceable by PeopleString, Cameo Stars and their respective successors and assigns, provided that Cameo Stars may not assign any of his rights or obligations hereunder, except as expressly provided by the terms of this Agreement.

12.           Paragraph Headings.  The paragraph headings herein have been inserted for convenience of reference only, and shall in no way modify or restrict any of the terms or provisions hereof.

 

  

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13.           Notices.  Any notice or other communication under the provisions of this Agreement shall be in writing, and shall be given by postage prepaid, registered or certified mail, return receipt requested, by hand delivery with an acknowledgement copy requested, or by the Express Mail service offered by the United States Post Office, directed to the addresses set forth above, or to any new address of which any party hereto shall have informed the others by the giving of notice in
the manner provided herein.  Such notice or communication shall be effective, if sent by mail, three (3) days after it is mailed within the continental United States; if sent by Express Mail service, one day after it is mailed; or by hand delivery, upon receipt.

 

14.           Unenforceability; Severability.  If any provision of this Agreement is found to be void or unenforceable by a court of competent jurisdiction, then the remaining provisions of this Agreement, shall, nevertheless, be binding upon the parties with the same force and effect as though the unenforceable part had been severed and deleted.

 

15.           No Third Party Rights.  The representations, warranties and other terms and provisions of this Agreement are for the exclusive benefit of the parties hereto, and no other person shall have any right or claim against any party by reason of any of those terms and provisions or be entitled to enforce any of those terms and provisions against any party.

 

16.           Counterparts.  This Agreement may be executed in counterparts, all of which shall be deemed to be duplicate originals.

[SIGNATURE PAGE TO FOLLOW]

 

  

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IN WITNESS WHEREOF, the parties hereto have executed this instrument the date first above written.

 

	CAMEO STARS, LLC
	 	 
	
By:

	
/s/ Daren Hornig

	
Name:

	
Daren Hornig

	
Title:

	
Chief Executive Officer

	PEOPLESTRING CORPORATION
	 	 
	
By:

	
/s/ Darin Myman

	
Name:

	
Darin Myman

	
Title:

	
Chief Executive Officer

 

 

6f8k090611ex10ii_pplstring.htm

Exhibit 10.2

 

BUSINESS ADVISORY AGREEMENT

This AGREEMENT is made and entered into as of the 7th day of September, 2011 by and between Peoplestring, Inc (the "Company") and Emerging Equity Advisors, Inc, A Florida Corporation (the "Business Advisor").

WHEREAS, the Company has engaged the Business Advisor to act as a business consultant and advisor in connection with the Company 's business matters, investor relations, and advertising services.

 

WHEREAS, the Business Advisor has experience in providing business consulting, investor relations, and internet advertising to public corporations, partnerships and other business organizations;

WHEREAS, the Company is seeking and the Business Advisor is willing to furnish business consulting and advisory services to the Company on the terms and conditions hereinafter set forth.

NOW THEREFORE, in consideration of, and for the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows:

1. PURPOSE. The Company hereby engages the Business Advisor on a non-exclusive basis for the term specified in this Agreement to render business consulting and advisory services upon the terms and conditions set forth herein.

2. REPRESENTATIONS OF THE BUSINESS ADVISOR AND THE COMPANY. The Business Advisor represents and warrants to the Company that it is free to enter into this Agreement and the business consulting and advisory services to be provided pursuant to this Agreement are not in conflict with any other contractual or other obligation to which the Business Advisor is bound. The Company acknowledges that the Business Advisor is in the business of providing business consulting and advisory services to others and that nothing herein contained shall be construed to limit or restrict the Business Advisor in conducting such business with respect to others, or rendering such services to others.

3. SERVICES.  The Company hereby retains Business Advisor, commencing as of the date hereof, to provide to the Company those services typically provided by Business Advisor (the "Services") including, but not limited to, the services set forth in this Section 3. The Services shall include, but not necessarily be limited to the following:

(a)          Planning for Strategic Alliances. Business Advisor shall review and evaluate the Company's current status and prospects, and Business Advisor shall directly work with the Company to develop a plan for the Company's potential Strategic Alliances, which plan shall include a list of companies which Business Advisor believes qualify as potential partners (the "Potential Partners") for a Strategic Alliance with the Company. Business Advisor shall facilitate meetings, communications and interactions between the Potential Partners and the Company to pursue negotiations, to make presentations, and to assist the Company in responding to "due diligence"
requests. Business Advisor shall also, where necessary, based on the type of Strategic Alliance proposed, provide the Company Board of Directors (the "Board") and/or shareholders with recommendations regarding any proposed Strategic Alliance.

 

  

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(b)          Strategic Counsel to the Company's Board of Directors. At the Company's request, Business Advisor shall attend meetings of the Board and/or the Company's senior management to discuss the performance of Business Advisor's services under this Agreement and to consult with the Board and senior management on strategies for achieving a desirable Strategic Alliance.

4. COMPENSATION.  the Company shall pay Business Advisor for the Services a total of $60,000 dollars and 600,000 shares of validly issued unregistered shares of the Company’s common stock which trades on the OTCBB under the symbol “PLPE”.

 

5. TERM AND TERMINATION.  This Agreement will commence on the date first set forth above and shall continue for a term of twelve (12) months, thereafter.

 

6. INDEMNITY.  The Company agrees to indemnify and hold Business Advisor, his agents, employees, and representatives, free and harmless from and against any and all claims, losses, damages, costs, or actions arising from, out of, or relating to this Agreement, the performance of the Services, or any other act or omission of the Company, its officers, agents, directors, employees, representatives, successors, or assigns hereunder.  Said indemnification and hold harmless includes reasonable attorney fees and costs incurred by Company regarding any such claims, losses, damages, costs, or actions.

 

The Business Advisor agrees to indemnify and hold Company, its agents, employees, and representatives, free and harmless from and against any and all claims, losses, damages, costs, or actions arising from, out of, or relating to this Agreement, the performance of the Services, or any other act or omission of the Business Advisor, its officers, agents, directors, employees, representatives, successors, or assigns hereunder.  Said indemnification and hold harmless includes reasonable attorney fees and costs incurred by Business Advisor regarding any such claims, losses, damages, costs, or actions.

 

7. AGREEMENTS OF THE COMPANY AND BUSINESS ADVISOR.  The Company agrees that:

 

(a) At the commencement of the Services and at the time of the provision of the Services during the term of this Agreement, the Company will furnish Business Advisor and its agents and counsel with all information concerning the Company that Business Advisor and its agents reasonably deem appropriate and agrees to provide Business Advisor and its agents with reasonable access to the Company’s officers, directors, accountants, counsel, Business Advisors and other appropriate agents and representatives. the Company acknowledges the Business Advisor and its agents may rely upon the
completeness and accuracy of information and data furnished to any of them by or on behalf of the Company; provided, however, that Business Advisor shall not provide any information in any form that has not been approved by the Company and shall not make any statements concerning the Company’s business, financial condition, operations or projected financial results which have not been approved in advance by the Company.

 

  

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(b) All payments of compensation to Business Advisor shall not cause the Company to violate any law or regulation applicable to the Company.

 

(c) This Agreement had been, and the Services contemplated hereby at the time of the commencement and consummation thereof, shall be duly authorized by the Company.

 

(d) The Company agrees that no advice or recommendations rendered or summarized, excerpted from or otherwise referred to without Business Advisor’s prior written consent other than to the Company’s personnel, accountants, counsel, investment advisors and others with which the Company has a relationship unless required by law.  Business Advisor may not be otherwise referred to by the Company without Business Advisor’s prior written consent or unless required by law.

 

8. MATERIAL NON-PUBLIC INFORMATION.

 

(a) In connection with the performance by Business Advisor of the Services, the Company may provide Business Advisor certain information and data which is material non-public information and which the Company wishes to keep confidential, including, but not limited to, information regarding the Company’s governance, board of directors, management, plans, strategies, business, finances or operations, including information relating to financial statements and other financial information, evaluations, projections, plans, programs, customers, plants, equipment and other assets, products,
processes, manufacturing, marketing, research and development, know-how and technology, intellectual property and trade secrets and information which Company has obtained from third parties and with respect to which the Company is obligated to maintain confidentiality (collectively, “Confidential Information”).  Confidential Information may include information or materials in oral, written, pictorial, magnetic or graphic form or maintained or transferred in any other media.

 

(b) Except as provided in this Section 8, Business Advisor will not (a) disclose any Confidential Information to third parties or use any Confidential Information in each instance without securing the prior written consent of the Company or (b) engage in any purchases, sales or other transactions involving the Company’s securities while in possession of material non-public information relating to the Company. Business Advisor further acknowledges that any violation of clause (b) of this Section 8(b) may constitute a violation of federal or state securities laws.

 

(c) Confidential Information does not include information which (a) is or becomes known publicly known through no fault or action on the part of Business Advisor; (b) Business Advisor can show by documentary evidence that it (i) has learned from a third party who it believes in good faith is entitled to disclose it; (ii) already known to Business Advisor before disclosure by the Company; or (iii) independently developed by Business Advisor without access to any Confidential Information.

 

  

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(d) Business Advisor shall be responsible for the conduct of its directors, officers, subsidiaries, affiliates, Business Advisors, employees and representatives regarding the confidentiality and use of the Confidential Information. Business Advisor shall only disclose the Confidential Information to employees, Business Advisors and representatives that are bound by confidentiality obligations that are at least as restrictive as the terms of this Agreement and that have a need to review the Confidential Information in order to enable Business Advisor to evaluate the Company. Any disclosure of
Confidential Information to Business Advisor shall not be deemed to grant a license or right to Business Advisor to use Confidential Information for any purpose other than as explicitly set forth in this Agreement.

 

(e) In the event that any Confidential Information is required to be produced by Business Advisor pursuant to legal process, Business Advisor shall give the Company notice of such legal process within a reasonable time, but not later than ten (10) business days prior to the date such disclosure is to be made, unless Business Advisor has received less notice, in which event Business Advisor shall notify the Company as promptly as practicable.  The Company shall have the right to object to any such disclosure, and if the Company objects in a timely manner so that Business Advisor is
not subject to penalties for failure to make such disclosure, Business Advisor shall not make any disclosure until there has been a court determination on the Company’s objections.  If disclosure is required by a court order, final beyond right of review, or if the Company does not object to the disclosure, Business Advisor shall make disclosure only to the extent that disclosure is unequivocally required by the court order, and Business Advisor will exercise reasonable efforts at the Company’s expense, to obtain reliable assurance that confidential treatment will be accorded the Confidential Information.

 

(f) Business Advisor agrees that any violation or threatened violation of any of the provisions of this Agreement shall cause immediate and irreparable harm to the Company. In the event of any breach or threatened breach of this Agreement, Business Advisor consents to the entry of preliminary and permanent injunctions by a court of competent jurisdiction prohibiting Business Advisor from any violation or threatened violation of such provisions and compelling Business Advisor to comply with such provisions. This Section 8(f) shall not affect or limit, and the injunctive relief provided in
this Section 8 shall be in addition to, any other remedies available to the Company at law or in equity for any such violation.

 

9. SURVIVAL OF CERTAIN PROVISIONS.  The provisions of Sections 6 and 8 of this Agreement shall survive the termination of this Agreement and shall remain operative and in full force and effect regardless of any termination or expiration of this Agreement, and shall be binding upon, and shall inure to the benefit of, any successors, assigns, heirs and personal representatives of the Company, Business Advisor, and any and all Indemnified Persons.

 

10. NOTICES.  All notices provided for in this Agreement shall be in writing signed by the party giving such notice, and delivered personally or sent by overnight courier service which obtains evidence of delivery, or registered or certified mail, return receipt requested, or by facsimile transmission or similar means of communication if receipt is confirmed or if transmission of such notice is confirmed by mail as provided in this Section 10.  Notices shall be deemed to have been received on the date of personal delivery or the date delivery is refused.  Notices shall be sent to any party to the attention of the person who executed this Agreement on behalf of such party at such
party’s address or telecopier number set forth on the signature page of this Agreement. Either party may, by like notice, change the person, address or telecopier number to which notice shall be sent.

 

  

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11. ENTIRE AGREEMENT.  This Agreement constitutes the entire agreement of the parties, superseding and terminating any and all prior or contemporaneous oral and written agreements, understandings or letters of intent between or among the parties with respect to the subject matter of this Agreement.  No part of this Agreement may be modified or amended, nor may any right be waived, except by a written instrument which expressly refers to this Agreement, states that it is a modification or amendment of this Agreement and is signed by the parties to this Agreement, or, in the case of waiver, by the party granting the waiver.  No course of conduct or dealing or trade usage or custom
and no course of performance shall be relied on or referred to by any party to contradict, explain or supplement any provision of this Agreement, it being acknowledged by the parties to this Agreement that this Agreement is intended to be, and is, the complete and exclusive statement of the agreement with respect to its subject matter.  Any waiver shall be limited to the express terms thereof and shall not be construed as a waiver of any other provisions or the same provisions at any other time or under any other circumstances.

 

12. CONSTRUCTION.  This Agreement shall be governed by, and constructed in accordance with, the laws of the State of New Jersey as applied to contracts made and performed in such State without regard to principles of conflicts of law. the Company and Business Advisor each hereby irrevocably submits to the jurisdiction of the federal and state courts located in Monmouth, New Jersey in connection with any suit, action, or proceeding related to this Agreement or any of the matters contemplated hereby, irrevocably waives any defense of lack of personal jurisdiction and irrevocably agrees that all claims in respect of any such suit, action or proceeding may be heard and determined in any such court. the
Company and Business Advisor each irrevocably waives, to the fullest extent it may effectively do so under applicable law, any objection which it may now or hereafter have to the laying of venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court had been brought in an inconvenient forum.

 

13. SEVERABILITY.  Any determination that any provision of this Agreement may be, or is unenforceable shall not affect the enforceability of the remainder of this Agreement.

 

14. HEADINGS.  The paragraph headings in this Agreement have been inserted as a matter of convenience of reference and are not part of this Agreement.

 

15. COUNTERPARTS.  This Agreement may be executed in two or more counterparts and by facsimile, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.

 

16. THIRD PARTY BENEFICIARIES.  This Agreement has been and is made solely for the benefit of the Company and Business Advisor (including other Indemnified Persons described herein) and their respective successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement.

 

  

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.

 

 

	

EMERGING EQUITY ADVISORS, INC.

	 	PEOPLESTRING, INC.
	 	 	 
	

By:

	

/s/ Allan Marshall

	 	

By:

	

/s/ Darin Myman

	

Name:

	Allan Marshall	 	

Name:

	

Darin Myman

 

 

 

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