Document:

ex10-6.htm

EXHIBIT 10.6

 

CONSULTING & FINDER’S FEE AGREEMENT

THIS CONSULTING & FINDER’S FEE AGREEMENT (this “Agreement”), made as of this 1st day of May 2014, is by and between Placer Del Mar Ltd., a Nevada corporation, its subsidiaries, affiliates and successors (the “Company”), with its principal place of business at 4045 Sheridan Avenue, Suite 443, Miami Beach, Florida 33140, and ZMAX Capital Corp., a Florida company (“Finder”), with its principal place of business at 4045 Sheridan Avenue, Suite 443, Miami Beach, Florida 33140.

R E C I T A L S:

A.           The Company desires to retain Finder to provide certain financial consulting services in order for the Company to expand its capital assets in connection with certain proposed investment opportunities.

B. Finder and its employees and agents (hereinafter referred to as “Consultants”) are prepared to provide certain financial consulting services to the Company in accordance with the terms and conditions contained hereinafter.

NOW, THEREFORE, in consideration of the mutual promises set forth herein, the parties hereto hereby agree as follows:

1.           Compensation.  If the Company successfully closes a private placement of its securities (a “Transaction”) that involves a Prospect or Prospects (as that term is defined below) first introduced to the Company by Finder, or an affiliate or family member of such Prospect or Prospects (hereinafter referred to as an “Investor”), Finder shall be paid as follows:

The Company shall pay a fee (the “Fee”) to Finder in cash equal to $50,000.

Payment shall be due and payable as to be agreed upon by the parties. All cash compensation under this Agreement shall be paid to Finder.

2.           Company Discretion.  The Consultants understand and agree that the Company, in its sole discretion, reserves the right to accept or reject, in whole or in part, any offer by, or to withdraw any offer to, a Prospect introduced by the Consultants to purchase the securities of the Company.

3.           Non-Exclusivity.  It is understood and agreed that the foregoing shall not limit the Company’s ability to retain other brokers, finders and consultants from time to time during the term of this Agreement to act as such for the Company.

 

4.           Term of Agreement. This Agreement shall commence on the date of the Company's execution and delivery of same and be for a term of one (1) year and shall be renewable at the option of the parties upon written agreement. The Company or Finder may terminate this Agreement at any time upon fifteen (15) days written notice from one party to the other. Notwithstanding any termination of this Agreement pursuant to the terms hereof or otherwise, if twelve (12) months from the effective date of introduction to the Company of a Prospect, the Company successfully closes a Transaction, the Company shall pay to Finder the Fee, in accordance with the terms and provisions above.

 

  

  

  

 

5.           Confidentiality. All financial and business information furnished by the Company or its affiliates to the Consultants shall be retained by the Consultants individually, their officers, directors, employees and agents on a confidential basis, and shall be used only in connection with the preparation of offering materials to be presented to the Prospects (the “Descriptive Materials”) or as specifically authorized by the Company. The Consultants shall, upon submission, execute individually such confidentiality and/or non-disclosure agreements as are customary in engagements of this type.

6.           Indemnification.  The Company shall indemnify, defend and hold harmless Finder, its officers, directors, stockholders, employees, and agents from and against any cost, expense, liability or obligation in respect of any securities of the Company sold in reliance upon any disclosures or information contained in the Descriptive Materials and all exhibits thereto or any other information (written or oral) constituting disclosures, representations or covenants in respect of the Company, its business, financial condition and/or prospects; it being understood that the Descriptive Materials and its contents are and shall be based solely upon information supplied and approved in advance by the Company and its affiliates. Finder, its officers, directors, employees and agents shall indemnify, defend and hold harmless the Company and its respective directors, stockholders, officers, agents, affiliates and employees from and against any cost, expense, liability or obligation that results from the bad faith, gross negligence, or unauthorized representations of Finder or any Consultants or a breach of a material term of this Agreement by Finder or any Consultants.

7.           Definitions.  The term “Prospect” or “Prospects” means and is limited to any person or entity first introduced to the Company by Finder and listed on Schedule A hereto.  Such Prospect shall be an “accredited investor,” as defined in Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), or a non-”U.S. person,” as defined in Regulation S under the Securities Act, such status as determined by Finder and/or DW through their reasonable efforts prior to such accredited investor or non-U.S. person being presented to the Company as a Prospect.

8.           General.

(a) This Agreement has been entered into and shall be interpreted under and governed by the laws of the State of New York, without regard to principles of conflicts of law or rules thereof.  The parties consent to the personal jurisdiction and venue in the state and federal courts located in New York.

(b)  If any part of this Agreement is found, or deemed by a court of competent jurisdiction, to be invalid or unenforceable, that part shall be severed from the remainder of this Agreement. Any modification of this Agreement will be effective only if it is in writing and signed by the authorized signatories of the parties to this Agreement.

  

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(c) This Agreement has been duly authorized and shall constitute a binding obligation upon each of Finder and the Company enforceable in accordance with its terms. This Agreement represents the entire agreement by and between the Company and Finder and supersedes any and all other agreements, whether oral or written, with respect to the Agreement.

(d) This agreement calls for the professional services of Finder and each of its employees and agents and therefore may not be assigned by Finder to any third person, firm, or corporation without the prior written consent of the Company.

(e) This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the respective parties hereto.

(f) Notwithstanding anything to the contrary contained herein, expressed or implied, it is expressly understood and agreed that Finder and its employees and agents shall, at all times, be acting solely in its capacity as advisor to the Company and as an independent contractor with respect to the Company and not as an employee or agent of the Company.  Nothing contained in this Agreement shall be construed to create a joint venture, partnership, association or other affiliation, or like relationship, between the parties.  It is specifically agreed that the relationship is and shall remain that of independent parties to a contractual relationship and that Finder and its employees and agents shall have no right to bind the Company in any manner without the written consent of the Company.   In no event shall either party be liable for the debts or obligations of the other except as otherwise specifically provided in this Agreement.

(g) Finder represents and warrants that it has and will comply with all applicable foreign, US federal and/or state securities laws and regulations, including without limitations, blue sky laws, broker/dealer registration and other requirements that may be applicable to Finder.

(h) Finder acknowledges and agrees that any material breach by it of this Agreement’s covenants, representations and warranties hereunder shall, in addition to any and all other remedies of the Company, result in the forfeiture of any accrued and unpaid fees under Section 1 and the forfeiture or termination of any Warrants to which Finder would otherwise be entitled under Section 1.

(i) This Agreement may be executed in any number of counterparts, including facsimile signatures, which shall be deemed as original signatures. All executed counterparts shall constitute one Agreement, notwithstanding that all signatories are not signatories to the original or the same counterpart.

(j) All notices, demands or other communications given hereunder shall be in writing and shall be deemed to have been duly given when delivered in person or transmitted by facsimile transmission, email or on the third calendar day after being mailed by United States registered or certified mail, return receipt requested, to the addresses hereinabove first mentioned.

(k) Finder is not entitled to the Fee or payment of expenses if the Transaction is not closed for any reason, including, but not limited to, the Company’s decision to decline to close at any time.

 

  

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(l)  The monies earned and paid are not to be used for or promote any criminal or illegal purposes and will not violate any US federal, state or city laws of the United States of America or any international or foreign laws.

  

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the latest date written below.

Sincerely,

	
ZMAX CAPITAL CORP.

	  	
PLACER DEL MAR LTD.

	  	  	  
	  	  	  
	
By: /s/ Shafiq Nazerali

	  	
By: /s/ Frank Terzo

	  	  	  
	  	  	  
	
Name: Shafiq Nazerali

	  	
Name: Frank Terzo

	
Title: President

	  	
Title: President

	  	  	  
	  	  	  
	
Date: May 1, 2014

	  	
Date: May 1, 2014

  

5ex10-7.htm

EXHIBIT 10.7

 

CONSULTING AGREEMENT

 

CONSULTING AGREEMENT dated as of May 15, 2014 (the “Agreement”) by and between Frank Terzo and Accelerated Growth Ventures, Inc. (the “Consultant”), a Florida corporation, whose address is 4045 Sheridan Avenue, Suite 443, Miami Beach, Florida 33140 (the “Consultant”), and Placer Del Mar Ltd. (the “Company”), a Nevada corporation having its principal place of business at 4045 Sheridan Avenue, Suite 443, Miami Beach, Florida 33140.

 

WHEREAS, Frank Terzo, has served as the Company’s Chief Executive Officer (“CEO”), as well as its President, Treasurer and Secretary, since February 27, 2014 and has provided certain consulting services to the Company since March 1, 2014; and

 

WHEREAS, the Board of Directors of the Company has approved this agreement  with the Consultant pursuant to which, beginning May 15, 2014, the Consultant will provide certain consulting services to the Company and, for so long as required, the Consultant’s sole officer and shareholder, Frank Terzo, will continue to serve as the Company’s CEO and sole corporate officer; and

 

WHEREAS, the Company desires to engage the Consultant to provide the consulting services and to make Mr. Terzo available as the Company’s CEO, as well as its sole corporate officer for so long as these services are required, and the Consultant is willing to be engaged by the Company to provide consulting services and to make Mr. Terzo available to serve as the CEO and sole corporate officer of the Company, on the terms and conditions set forth below;

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the receipt and sufficiency of which are hereby acknowledged, the Company, Mr. Terzo and the Consultant agree as follows:

 

1.           Consulting. The Company hereby retains the Consultant, and the Consultant hereby agrees to be retained and to make Mr. Terzo available to the Company, upon the terms and subject to the conditions contained herein.

 

2.           Duties of Consultant. (a) During the Consulting Term (as hereinafter defined), the parties agree that the Consultant shall (i) provide various services to the Company including management, organizational and marketing advice, and (ii) for so long as required by the Company, make available Mr. Terzo to serve as the Company’s CEO, President, Treasurer and Secretary.  Mr Terzo, personally, shall perform all of the duties that are ordinarily and customarily performed by a CEO and corporate officer, provided that the Mr. Terzo, in his personal capacity, shall not be required to undertake duties not reasonably within the scope of the duties of a CEO and sole corporate officer.

 

(b) The Consultant’s and Mr. Terzo’s services shall be performed primarily at Mr. Terzo’s offices that are located in Miami Beach, Florida.  The parties acknowledge, however, that Mr. Terzo may be required to travel in connection with the performance of his duties hereunder.

 

  

  

  

3.           Term. Subject to the provisions for termination hereinafter provided, the term of this Agreement, with respect to the services provided by Mr. Terzo, shall be deemed to have commenced on March 1, 2014 (the “Effective Date”), and with respect to the services to be provided by the Consultant, on the date hereof, and shall continue for a minimum period of 12 months from the Effective Date (the “Minimum Period”) and thereafter upon the mutual agreement of the Company and the Consultant (the “Consulting Term”).

4.           Compensation. In consideration of the services (i) rendered by Mr. Terzo from the Effective Date through the date hereof, the Company shall pay Mr. Terzo a monthly fee of $6,500, and (ii) to be rendered by the Consultant hereunder from the date hereof, the Company shall pay the Consultant a monthly fee of $6,500 during the remainder of the Minimum period.  Mr. Terzo hereby assigns all payments due him directly under this Agreement to the Consultant.

5.           Termination. If the Consultant should be unavailable to perform any of its obligations hereunder or if Mr. Terzo should become unable to serve as CEO for any cause including death or disability, always in the sole judgment and decision of the Company, then the Company shall have the right to terminate this agreement on five days prior written notice.  The Consultant, and separately, Mr. Terzo as an executive officer of the Company, shall have the right to resign at any time upon 30 days prior written notice. The Company may in its discretion and at its option terminate this Agreement at any time after the Minimum Period upon five (5) days prior written notice to the Consultant.  The termination by the Company of Mr. Terzo as the Company’s sole officer and director will not, in and of itself, terminate this Agreement which shall continue in force and effect until and unless terminated pursuant to the provisions herein above.  If this Agreement is terminated by the Company before the end of the Minimum Period for any reason, the Consultant shall be entitled to receive in full all unpaid compensation to the end of the Minimum Period whether accrued or not yet accrued.

6.           Reimbursement. The Company will reimburse the Consultant or Mr. Terzo, as the case may be, for all reasonable pre-approved out-of-pocket expenses incurred in connection with this Agreement.

 

7.           Confidential Information. The Consultant, which term for purposes of this Section 7 specifically includes Mr. Terzo, recognizes and acknowledges that by reason of Consultant’s retention by and service to the Company before, during and, if applicable, after the Consulting Term, the Consultant will have access to certain confidential and proprietary information relating to the Company’s business, which may include, but is not limited to, trade secrets, trade “know-how,” product development techniques and plans, formulas, customer lists and addresses,  financing services, funding programs, cost and pricing information, marketing and sales techniques, strategy and programs, computer programs and software and financial information (collectively referred to as “Confidential Information”).  The Consultant acknowledges that such Confidential Information is a valuable and unique asset of the Company and Consultant covenants that Consultant will not, unless expressly authorized in writing by the Company, at any time during the Consulting Term use any Confidential Information or divulge or disclose any Confidential Information to any person, firm or corporation except in connection with the performance of Consultant’s duties for the Company and in a manner consistent with the Company’s policies regarding Confidential Information.  The Consultant also covenants that at any time after the termination of this Agreement, directly or indirectly, the Consultant will not use any Confidential Information or divulge or disclose any Confidential Information to any person, firm or corporation, unless such information is in the public domain through no fault of Consultant or except when required to do so by 

 

  

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a court of law, by any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction to order Consultant to divulge, disclose or make accessible such information.  All written Confidential Information (including, without limitation, in any computer or other electronic format) which comes into the Consultant’s possession during the Consulting Term shall remain the property of the Company.  Except as required in the performance of the Consultant’s duties for the Company, or unless expressly authorized in writing by the Company, the Consultant shall not remove any written Confidential Information from the Company’s premises, except in connection with the performance of Consultant’s duties for the Company and in a manner consistent with the Company’s policies regarding Confidential Information.  Upon termination of this Agreement, the Consultant agrees to return immediately to the Company all written Confidential Information (including, without limitation, in any computer or other electronic format) in Consultant’s possession.

 

8.           Status as Independent Contractor. The parties intend and acknowledge that the Consultant is acting as an independent contractor and not as an employee of the Company.  The Consultant shall have full discretion in determining the amount of time and activity to be devoted to rendering the services contemplated under this Agreement and the level of compensation to Consultant is not dependent upon any preordained time commitment or level of activity.  The Company acknowledges that the Consultant shall remain free to accept other consulting engagements of a like nature to the engagement under this Agreement.  The Company shall not be responsible for any withholding in respect of taxes or any other deductions in respect of the fees to be paid to Consultant and all such amounts shall be paid without any deduction or withholding.  Nothing in this Agreement shall be construed to create any partnership, joint venture or similar arrangement between the Company and the Consultant or to render either party responsible for any debts or liabilities of the other.

 

9.           Consultant’s Services to Others. The Company acknowledges that Consultant and his affiliates are in the business of providing consulting advice to others.  Nothing herein contained shall be construed to limit or restrict Consultant or his affiliates in conducting such business with respect to others or in rendering such advice to others.  The Consultant acknowledges that the Company may hire other consultants to provide services complimentary to those provided by the Consultant.

10.           Conflict of Interest. The Consultant and the Company agree that there is no conflict of interest in connection with the retention by the Company of the Consultant pursuant to this Agreement.

 

11.           Waiver of Breach. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach.

 

12.           Binding Effect; Benefits. Neither of the parties hereto may assign its or his rights hereunder without the prior written consent of the other party hereto, and any such attempted assignment without such consent shall be null and void and without effect.  This Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their respective successors, permitted assigns, heirs and legal representatives.

 

13.           Notices. All notices and other communications which are required or may be given under this Agreement shall be in writing and shall be deemed to have been duly given (a) when delivered in person, (b) one (1) business day after being mailed with a nationally recognized overnight courier service, or (c) three (3) business days after being mailed by registered or certified first class mail, postage prepaid, return receipt requested, to the parties hereto at:

 

If to the Company, to :    4045 Sheridan Avenue, Suite 443

                Miami Beach, Florida 33140

 

 

If to the Consultant, to:   4045 Sheridan Avenue, Suite 443

                Miami Beach, Florida 33140

12.           Entire Agreement; Amendments. This Agreement contains the entire agreement and supersedes all prior agreements and understandings, oral or written, between the parties hereto with respect to the subject matter hereof.  This Agreement may not be changed orally, but only by an agreement in writing signed by the party against whom any waiver, change, amendment, modification or discharge is sought.

13.           Severability. The invalidity of all or any part of any provision of this Agreement shall not render invalid the remainder of this Agreement or the remainder of such provision.  If any provision of this Agreement is so broad as to be unenforceable, such provision shall be interpreted to be only so broad as is enforceable.

 

14.           Governing Law; Consent to Jurisdiction. This Agreement shall be governed by and construed in accordance with the law of the State of New York without giving effect to the principles of conflicts of law thereof.  The parties hereto each hereby submits herself or itself for the sole purpose of this Agreement and any controversy arising hereunder to the exclusive jurisdiction of the state courts in the State of New York.

 

15.           Headings. The headings herein are inserted only as a matter of convenience and reference, and in no way define, limit or describe the scope of this Agreement or the intent of the provisions thereof.

 

16.           Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.  Signatures evidenced by facsimile transmission will be accepted as original signatures.

 

[SIGNATURE PAGE FOLLOWS]

 

  

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IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the date first above written.

 

	  	
PLACER DEL MAR LTD.

	 
	  	  	 
	  	  	 
	  	  	 
	  	
By: /s/ Frank Terzo

	 
	  	
Name: Frank Terzo

	 
	  	
Title: President

	 
	  	  	 
	  	  	 
	  	
ACCELERATED GROWTH VENTURES, INC.

	 
	  	  	 
	  	  	 
	  	
By: /s/ Frank Terzo

	 
	  	
Name: Frank Terzo

	 
	  	
Title: President

	 
	  	  	 
	  	  	 
	  	
/s/ Frank Terzo

	 
	  	
Name: Frank Terzo

	 

  

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