Document:

oxysures1051509ex10_2.htm

    
      

      

    

     

    
      
        	
                Exhibit
      10.2

              	 
      	
                Employment
      Agreement dated January 15, 2009 entered into by and between the
      Registrant and Julian T. Ross.

                 

              

      

      EMPLOYMENT
AGREEMENT

      

      THIS
EMPLOYMENT AGREEMENT (hereinafter referred to as the "Agreement") is made and
entered into as of the    15th       day
of January, 2009 (“Effective Date”), by and between OXYSURE SYSTEMS, INC., a
corporation duly organized and existing pursuant to the laws of the state of
Delaware, (hereinafter referred to as "OSI" or the “Company”), and JULIAN T. ROSS (hereinafter
referred to as the "Executive").

      

      W I T N E S S E T
H:

      

      WHEREAS, the Company desires to have
the benefit of the Executive's efforts and services;

      

      WHEREAS, the Company recognizes that
circumstances may arise which may cause uncertainty of continued employment of
the Executive without regard to the Executive's competence or past
contributions;

      

      WHEREAS, such uncertainties may result
in the loss of valuable services of the Executive to the detriment of the
Company and its shareholders;

      

      WHEREAS, the Executive will be in a
better position to consider the best interests of the Company if the Executive
is afforded reasonable security, as provided in this Agreement, against altered
conditions of employment which may result from situations now unknown,
and

      

      NOW, THEREFORE, in consideration of the
foregoing and of the mutual covenants and agreements hereinafter set forth, the
parties hereto mutually covenant and agree as follows:

      

      1.           DEFINITIONS.  Whenever
used in this Agreement, the following terms shall have the meanings set forth
below:

      

      (a)           "Accrued
Benefits" shall mean the amount payable not later than fifteen (15) days
following an applicable Termination Date and which shall be equal to the sum of
the following amounts:

      

      (i)           All
salary earned or accrued through the Termination Date;

      

      (ii)           Reimbursement
for any and all moneys advanced in connection with the Executive's employment
for pre-approved, reasonable and necessary expenses incurred by the Executive
through the Termination Date;

      

      (iii)           Any
and all other cash benefits previously earned through the Termination Date and
deferred at the election of the Executive or pursuant to any deferred
compensation plans then in effect;

      

      (iv)           The
full amount of any stated bonus payable to the Executive with respect to the
year in which termination occurs provided that the events necessary to have
earned said bonus have been achieved; and

      
        
           

        

        
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      (v)           All
other payments and benefits to which the Executive may be entitled under the
terms of any benefit plan of the Company.

      

      (b)           "Act"
shall mean the Securities Exchange Act of 1934;

      

      (c)           "Affiliate"
shall have the same meaning as given to that term in Rule 12b-2 of Regulation
12B promulgated under the Act;

      

      (d)           "Base
Period Income" shall be an amount equal to the Executive's annualized
compensation calculated pursuant to section 6 herein for the initial term of
this agreement;

      

      (e)           "Board"
shall mean the Board of Directors of the Company;

      (f)           "Cause"
shall mean any of the following:

      

      
        	
                (i)  

              	
                The
      engaging by the Executive in illegal or fraudulent conduct, as evidenced
      by a determination in a binding and final judgment, order or decree of a
      court or administrative agency of competent jurisdiction, in effect after
      the exhaustion or lapse of all rights of appeal, in an action, suit or
      proceeding, whether civil, criminal, administrative or investigative,
      which the Board determines has a significant adverse impact on the Company
      in the conduct of the Company’s
business;

              

      

      
        	
                (ii)  

              	
                A
      conviction of a felony, as evidenced by a determination in a binding and
      final judgment, order or decree of a court or administrative agency of
      competent jurisdiction, in effect after the exhaustion or lapse of all
      rights of appeal, in an action, suit or proceeding, whether civil,
      criminal, administrative or investigative, which the Board determines has
      a significant adverse impact on the Company in the conduct of the
      Company’s business;

              

      

      
        	
                (iii)  

              	
                Willful
      or grossly negligent failure by Executive to perform his duties in a
      manner consistent with the Company’s best interests;
  or

              

      

      
        	
                (iv)  

              	
                Willful
      violation by the Executive of the Company’s policies and
      procedures.

              

      

      

      (g)           "Code"
shall mean the Internal Revenue Code of 1986, as amended from time to
time;

      

      (h)           “Consolidated
Group” means and
includes the Company, all of OSI’s current or future subsidiaries and any other
corporations or divisions thereof, which are hereafter acquired by or
consolidated with the OSI and which collectively carry on the business of OSI,
the Company or any part thereof.;

      

      (i)           "Notice
of Termination" shall mean the notice described in Section 9
herein;

      

      (j)           "Person"
shall mean any individual, partnership, joint venture, association, trust,
corporation or other entity, other than an Executive benefit plan of the Company
or an entity organized, appointed or established pursuant to the terms of any
such benefit plan;

      

      (k)           "Termination
Date" shall mean, except as otherwise provided in Section 10
herein,

      

      (i)           The
Executive's date of death;

      

      
        
           

        

        
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      (ii)           Thirty
(30) days after the delivery of the Notice of Termination if the Executive's
employment is terminated by the Executive voluntarily; and

      

      (iii)           Sixty
(60) days after the delivery of the Notice of Termination if the Executive's
employment is terminated by the Company for any reason other than
Cause.

      

      2           EMPLOYMENT.

      

      The
Company hereby agrees to employ the Executive and the Executive hereby agrees to
serve the Company, on the terms and conditions set forth herein.

      

      3.           TERM.

      

      The
employment of the Executive by the Company pursuant to the provisions of this
Agreement shall commence on the Effective Date and end on the Three Hundred
Sixtieth day thereafter (360th) day thereafter, unless
sooner terminated as hereinafter provided.

      

      4.           POSITIONS
AND DUTIES.

      

      The
Executive shall hold the position of Chairman & CEO of the
Company. The Executive shall also perform such duties as the Board shall direct
and shall serve in such additional capacities as set forth in Section 7
herein.  In connection with the foregoing positions, the Executive
shall have such duties, responsibilities and authority as may from time to time
be assigned to the Executive by the Board.  The Executive shall devote
substantially all of the Executive's working time and efforts to the business
and affairs of the Company.

      

      5.           PLACE
OF PERFORMANCE.

      

      In
connection with the Executive's employment by the Company, the Executive shall
be based at the principal Executive offices of the Company in North Dallas,
Texas, except for where travel is required, or where otherwise required by the
operations of the Company.

      

      6.           COMPENSATION
AND RELATED MATTERS.

      

      (a)           Commencing
on the Effective Date
hereof, and during the Period of Employment, the Company shall compensate the
Executive in accordance with Exhibit A hereto. The Company
will also issue to the Executive options as to the Common Stock of the Company
as outlined in Exhibit A hereto.

      

      (b)           During
the term of the Executive's employment hereunder, the Executive shall be
entitled to receive prompt reimbursement for all pre-approved, reasonable
expenses incurred by the Executive in performing services hereunder, including
all business travel and living expenses while away from home on business or at
the request of and in the service of the Company, provided that such expenses
are incurred and accounted for in accordance with the policies and procedures
presently established by the Company and OSI or as may be changed from time to
time.

      

      (c)           The
Executive shall also be entitled to all other benefits provided by the Company
to its general Executives.

      

      
        
           

        

        
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      7.           OFFICES.

      

      The
Executive agrees to serve without additional compensation, if elected or
appointed thereto, as a member of the Board of Directors of the Company, or any
subsidiary; provided, however, that the Executive is indemnified for serving in
any and all such capacities on a basis no less favorable than is currently
provided in the Company's bylaws, or otherwise.

      

      8.            
(a) TERMINATION FOR CAUSE.

      

      If the
Executive's employment with the Company is terminated by the Company for Cause,
subject to the procedures set forth in Section 9 herein, the Executive shall be
entitled to receive the Executive's Accrued Benefits as of the Termination
Date.  The Executive shall not be entitled to the receipt of any
Termination Payment.

      

      (b)
TERMINATION NOT FOR CAUSE.

      

      If the
Company terminates the Executive for any reason other than Cause, then the
Executive shall be entitled to a Termination Payment equal to Twelve Months Base
Salary. Base Salary refers to Base Salary as defined in Exhibit A
hereto.

      

      9.           TERMINATION
NOTICE AND PROCEDURE.

      

      Any termination by the Company or the
Executive of the Executive's employment during the Employment Period shall be
communicated by written Notice of Termination to the Executive, if such Notice
of Termination is delivered by the Company, and to the Company, of such Notice
of Termination is delivered by the Executive, all in accordance with the
following procedures:

      

      (a)           The
Notice of Termination shall indicate the specific termination provision in this
Agreement relied upon and shall set forth in reasonable detail the facts and
circumstances alleged to provide a basis for termination.

      

      10.           NONDISCLOSURE
OF PROPRIETARY INFORMATION.

      

      (a)           For
the purposes of this Paragraph 11, including all subparagraphs, “the Company”
shall mean the Company or OSI.  Recognizing that the Company is
presently engaged, and may hereafter continue to be engaged, in the research and
development of processes, the obtainment and sale of products or performance of
services, which involve experimental and inventive work and that the success of
its business depends upon the protection of the processes, products and services
by patent, copyright or by secrecy and that the Executive has had, or during the
course of his engagement may have, access to Proprietary Information, as
hereinafter defined, of the Company or other information and data of a secret or
proprietary nature of the Company which the Company wishes to keep confidential
and the Executive has furnished, or during the course of his engagement may
furnish, such information to the Company, the Executive agrees that (a)
"Proprietary Information" shall mean any and all methods, inventions,
improvements or discoveries, whether or not patentable or copyrightable, and any
other information of a similar nature related to the business of the Company
disclosed to the Executive or otherwise made known to him as a
consequence  of or through his engagement by the Company (including
information originated by the Executive) in any technological area previously
developed by the Company or developed, engaged in,

      
        
           

        

        
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       or
researched, by the Company during the term of the Executive's engagement,
including, but not limited to, trade secrets, processes, products, formulae,
apparatus, techniques, know-how, marketing plans, data, improvements,
strategies, forecasts, customer lists, and technical requirements of customers,
unless such information is in the public domain to such an extent as to be
readily available to competitors.

      

      (b)           The
Executive acknowledges that the Company has exclusive property rights to all
Proprietary Information and the Executive hereby assigns all rights he might
otherwise possess in any Proprietary Information to the Company. Except as
required in the performance of his duties to the Company or otherwise as
required by law, the Executive will not at any time during or after the term of
his engagement, which term shall include any time in which the Executive may be
retained by the Company as a consultant, directly or indirectly use,
communicate, disclose or disseminate any Proprietary Information or any other
information of a secret, proprietary, confidential or generally undisclosed
nature relating to the Company, its products, customers, processes and services,
including information relating to testing, research, development, manufacturing,
marketing and selling.

      

      (c)           All
documents, records, notebooks, notes, memoranda and similar repositories of, or
containing, Proprietary Information or any other information of a secret,
proprietary, confidential or generally undisclosed nature relating to the
Company or its operations and activities made or compiled by the Executive at
any time or made available to him prior to or during the term of his engagement
by the Company, including any and all copies thereof, shall be the property of
the Company, shall be held by him in trust solely for the benefit of the
Company, and shall be delivered to the Company by him on the termination of his
engagement or at any other time on the  request of the
Company.

      

      (d)           The
Executive will not assert any rights under any inventions, copyrights,
discoveries, concepts or ideas, or improvements thereof, or know-how related
thereto, as having been made or acquired by him prior to his being engaged by
the Company or during the term of his engagement if based on or otherwise
related to Proprietary Information.

      

      11.           ASSIGNMENT
OF INVENTIONS.

      

      (a)           For
purposes of this Paragraph 12, the term "Inventions" shall mean discoveries,
concepts, and ideas, whether patentable or copyrightable or not, including but
not limited to improvements, know-how, data, processes, methods, formulae, and
techniques, as well as improvements thereof or know-how related thereto,
concerning any past, present or prospective activities of the Company which the
Executive makes, discovers or conceives (whether or not during the hours of his
engagement or with the use of the Company's facilities, materials or personnel),
either solely or jointly with others during his engagement by the Company or any
affiliate and, if based on or related to Proprietary Information, at any time
after termination of such engagement.  All inventions shall be the
sole property of the Company, and Executive agrees to perform the provisions of
this paragraph 12 with respect thereto without the payment by the Company of any
royalty or any consideration therefor other than the regular compensation paid
to the Executive in the capacity of an Executive or consultants;

      

      (b)           The
Executive shall maintain written notebooks in which he shall set forth, on a
current basis, information as to all Inventions, describing in detail the
procedures employed and the results achieved as well as information as to any
studies or research projects undertaken on the Company's
behalf.

      
        
           

        

        
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      The
written notebooks shall at all times be the property of the Company and shall be
surrendered to the Company upon termination of his engagement or, upon request
of the Company, at any time prior thereto.

      

      (c)           The
Executive shall apply, at the Company's request and expense, for United States
and foreign letters patent or copyrights either in the Executive's name or
otherwise as the Company shall desire.

      

      (d)           The
Executive hereby assigns to the Company all of his rights to such Inventions,
and to applications for United States and/or foreign letters patent or
copyrights and to United States and/or foreign letters patent or copyrights
granted upon such Inventions.

      

      (e)           The
Executive shall acknowledge and deliver promptly to the Company, without charge
to the Company, but at its expense, such written instruments (including
applications and assignments) and do such other acts, such as giving testimony
in support of the Executive's inventorship, as may be necessary in the opinion
of the Company to obtain, maintain, extend, reissue and enforce United States
and/or foreign letters patent and copyrights relating to the Inventions and to
vest the entire right and title thereto in the Company or its
nominee.  The Executive acknowledges and agrees that any copyright
developed or conceived of by the Executive during the term of Executive's
employment which is related to the business of the Company shall be a "work for
hire" under the copyright law of the United States and other applicable
jurisdictions.

      

      (f)           The
Executive represents that his performance of all the terms of this Agreement and
as an Executive of or consultant to the Company does not and will not breach any
trust prior to his employment by the Company.  The Executive agrees
not to enter into any agreement either written or oral in conflict herewith and
represents and agrees that he has not brought and will not bring with him to the
Company or use in the performance of his responsibilities at the Company any
materials or documents of a former  employer which are not generally
available to the public, unless he has obtained written authorization from the
former employer for their possession and use, a copy of which has been provided
to the Company.

      

      (g)           No
provisions of this Paragraph shall be deemed to limit the restrictions
applicable to the Executive under Paragraph 11.

      

      12.           SHOP
RIGHTS.

      

      The
Company shall also have the royalty-free right to use in its business, and to
make, use and sell products, processes and/or services derived from any
inventions, discoveries, concepts and ideas, whether or not patentable,
including but not limited to processes, methods, formulas and techniques, as
well as improvements thereof or know how related thereto, which are not within
the scope of Inventions as defined in Paragraph 12 but which are conceived or
made by the Executive during the period he is engaged by the Company or with the
use or assistance of the Company's facilities, materials or
personnel.

      

      13.           NON-COMPETE.

      

      The
Executive hereby agrees that during the term of this Agreement and for twelve
months (12) months following a termination for any reason, unless otherwise
specified in this agreement, shall not:

      
        
           

        

        
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      (a)           Within
any jurisdiction or marketing area in the United States in which the Company or
any subsidiary thereof is doing business, own, manage, operate or control any
business of the engaged in catalytic oxygen generation.  For purposes
of this paragraph, ownership of securities of not in excess of five percent (5%)
of any class of securities of a public company shall not be considered to be
competition with OSI, or any subsidiary thereof; or

      (b)           Within
any jurisdiction or marketing area in the United States in which the
Consolidated Group or any member thereof is doing business, act as, or become
employed as, an officer, director, Executive, consultant or agent of any
business engaged in catalytic oxygen generation; or

      

      (c)           Solicit
any business that is the same as that of the Consolidated Group for, or sell any
products involving catalytic oxygen to, any company in the United States, which
is, as of the date hereof, a customer or client of the Consolidated Group or any
of its members, or was such a customer or client thereof within two years prior
to the date of this Agreement; or

      

      (d)           Solicit
the employment of, or hire any full time Executive employed by the Company or
its subsidiaries as of the date of termination of this Agreement.

      

      Restrictions
Reasonable. Executive represents and agrees that the provisions hereof are
reasonable in order to protect the business and proprietary interests of the
Consolidated Group both as to the duration of time and any geographic limitation
therein provided, based on the present business, plans and prospects of the
Consolidated Group and the confidential and proprietary information to which
Executive has had and will have access, and that compliance with the provisions
hereof will
not be unduly burdensome on him.  Executive represents that
prior to executing and delivering this agreement, he has reviewed the provisions
of this agreement with his attorney.

      

      14.           REMEDIES
AND INJUNCTIVE RELIEF

      

      The
Executive hereby acknowledges and agrees that a breach or threatened breach by
him or the non-performance of certain of the covenants or promises contained
herein by him may cause serious and irreparable harm to the Consolidated Group
and that any remedy at law, including any award of money damages, may be
inadequate.  Accordingly, Executive agrees and accepts that a
threatened breach, a breach or a violation of the provisions of this agreement
by him shall entitle the Company, as a matter of right, to an injunction issued
by any court of competent jurisdiction, restraining any further or continued
breach or violation of the provisions of this agreement.  Such right
to an injunction shall be cumulative and in addition to, and not in lieu of, any
other remedies to which the Company may be entitled. The Executive specifically
acknowledges that the requirement of the Consolidated Group or any member
thereof to post a bond for the issuance of a temporary restraining order or
temporary injunction should be waived.

      

      15.           ATTORNEY’S
FEES.

      

      In the
event that either party hereunder institutes any legal proceedings in connection
with its rights or obligations under this Agreement, the prevailing party in
such proceeding shall be entitled to recover from the other party, all costs
incurred in connection with such proceeding, including reasonable attorneys'
fees, together with interest thereon from the date of demand at the rate of
twelve percent (12%) per annum.

      

      
        
           

        

        
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      16.           SUCCESSORS.

      

      This
Agreement and all rights of the Executive shall inure to the benefit of and be
enforceable by the Executive's personal or legal representatives, estates,
executors, administrators, heirs and beneficiaries. In the event of the
Executive's death, all amounts payable to the Executive under this Agreement
shall be paid to the  Executive's surviving spouse, or the Executive's
estate if the Executive  dies without a surviving
spouse.  This Agreement shall inure to the benefit of, be binding upon
and be enforceable by, any successor, surviving or resulting corporation or
other entity to which all or substantially all of the business and assets of the
Company shall be transferred whether by merger, consolidation, transfer or
sale.

      

      17.           ENFORCEMENT.

      

      The
provisions of this Agreement shall be regarded as divisible, and if any of said
provisions or any part hereof are declared invalid or unenforceable by a court
of competent jurisdiction, the validity and enforceability of the remainder of
such provisions or parts hereof and the applicability thereof shall not be
affected thereby.

      

      18.           AMENDMENT
OR TERMINATION.

      

      This
Agreement may be amended, superseded, canceled, renewed or extended, and the
terms hereof may be waived, only by written instrument signed by the parties or,
in the case of a waiver, by the party waiving compliance; provided, however,
that the terms of any renewal or extension shall not more adverse to Executive
than the terms provided for herein, as described in Exhibit A hereto. No delay
on the part of any party in exercising any right, power or privilege hereunder
shall operate as a waiver thereof.  Nor shall any waiver on the part
of any party of any such right, power or privilege, nor any single or partial
exercise of any such right, power or privilege, preclude any further exercise
thereof or the exercise of any other such right, power or
privilege.

      

      19.           SEVERABILITY.

      

      The
provisions of paragraphs 11, 12, 13 and 14 shall survive termination of this
Agreement.

      

      20.           ENTIRE
AGREEMENT.

      

      This
Agreement sets forth the entire agreement between the Executive and the Company
with respect to the subject matter hereof, and supersedes all prior oral or
written agreements, negotiations, commitments and understandings with respect
thereto.  Each party to this Agreement acknowledges that no
representations, inducements, or agreements, oral or otherwise, have been made
by any party, or anyone acting on behalf of any party, which are not embodied
herein, and no other agreement, statement or promise not contained in this
Agreement shall be valid or binding.  The parties hereto have had an
opportunity to consult with their respective attorneys concerning the meaning
and the import of this Agreement and each has read this Agreement, as signified
by his/their signatures below, and are executing the same for the purposes and
consideration herein expressed.

      

      
        
           

        

        
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      21.           GOVERNING
LAW.

      

      This
Agreement and the Executive's and Company's respective rights and obligations
hereunder shall be governed by and construed in accordance with the laws of the
State of Texas applicable to agreements made and to be performed entirely within
such State without giving effect to the provisions, principles, or policies
thereof relating to choice or conflict laws, except to the extent that Federal
law may apply.

      

      22.           NOTICE.

      

      Any
notice or other communication required or permitted hereunder shall be deemed
given if in writing and delivered personally, telegraphed, telexed, sent by
facsimile transmission or sent by certified, registered or express mail, postage
prepaid.  Any such notice shall be deemed given when so delivered
personally or sent by overnight air courier or facsimile transmission or, if
mailed, two days after the date of deposit in the United States mails, as
follows:

      

      if to
OSI:

      

      Board of
Directors

      OxySure® Systems,
Inc.

      10880
John W. Elliott Road

      Suite
600

      Frisco,
TX  75034

      

      if to the
Executive:

      

      Mr.
Julian T. Ross

      6912
Stony Hill Road

      McKinney,
TX 75070

      

      Any party
may be given notice in accordance with this Section to the other parties
designate another address or person for receipt of notices by such party
hereunder.

      

      23.           BINDING
EFFECT: NO ASSIGNMENT.

      

      This
Agreement shall be binding upon and inure to the benefit of the parties and
their respective successors and legal representatives.  This Agreement
and any rights hereunder are not assignable except by operation of law or by OSI
to any of its subsidiaries or affiliates.  Any other purported
assignment shall be null and void.

      

      24.           VARIATIONS
IN PRONOUNS.

      

      Wherever
the context shall so require, all words herein in the male gender shall be
deemed to include the female or neuter gender and vice versa, all singular words
shall include the plural, and all plural words shall include the
singular.  All pronouns and any variations thereof refer to the
masculine, feminine or neuter, singular or plural, as the context may
require.

      

      25.           REPRESENTATION
BY COUNSEL

      

      Each
party acknowledges that it has had the opportunity to be represented by separate
independent counsel in the negotiation of this Agreement,

      
        
           

        

        
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       that
any such respective attorneys were of its own choosing, that each authorized
representative has read this Agreement and that he understands its meaning and
legal consequences to each party.  The Parties warrant and represent
that they have consulted with their attorney of choice concerning the execution,
the meaning and the import of this Agreement, and each has read this Agreement
and fully understands the terms hereof as signified by their signatures below,
and are executing the same of their own free will for the purposes and
consideration herein expressed.  The Parties warrant and represent
that they have had sufficient time to consider whether to enter into this
Agreement and that they are relying solely on their own judgment and the advice
of their own counsel in deciding to execute this Agreement.  The
Parties warrant and represent that they have read this Agreement in its entirety
and have consulted with their attorney concerning the execution of this
Agreement. If any or all Parties have chosen not to seek alternative counsel,
said party or parties hereby acknowledge that he or they refrained from seeking
alternative counsel entirely of his or their own volition and with full
knowledge of the consequences of such a decision.

      

      26.           PRESUMPTION
AGAINST SCRIVENER

      

      Each
party waives the presumption that this Agreement is presumed to be in favor of
the party which did not prepare it, in case of a dispute as to
interpretation.

      

      27.           CAPACITY

      

      Each
party represents and warrants that he has the authority to enter into this
Agreement either on his own behalf or in an official capacity on behalf of a
corporate party.

      

      28.           OTHER
INSTRUMENTS

      

      The
Parties hereto covenant and agree that they will execute such other and further
instruments and documents as are or may become necessary or convenient to
effectuate and carry out the business obligations and duties created by this
Agreement.

      

      29.           NO
WAIVER.

      

      No waiver
by either party at any time of any breach by the other party of, or compliance
with, any condition or provision of this Agreement to be performed by the other
party shall be deemed a waiver of similar or dissimilar provisions or conditions
at the same time or any prior or subsequent time.

      

      30.           HEADINGS.

      

      The
headings used in this Agreement are for administrative purposes only and do not
constitute substantive matter to be considered in construing the terms and shall
not affect the interpretation of this Agreement.

      

      31.           COUNTERPARTS.

      

      This
Agreement may be executed by the parties hereto in separate counterparts, each
of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute one and the same
instrument.  Each counterpart may consist of a number of copies hereof
each signed by less than all, but together signed by all of the parties
hereto.

      
        
           

        

        
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      IN
WITNESS WHEREOF, the Company, has caused this Agreement to be executed by its
duly authorized officer, and the Executive has executed this Agreement, on the
date and year first above written.

      

      OXYSURE
SYSTEMS, INC.

      

      

      

      __________________________________

      By:      Mr. Don Reed

      Director

      

      EXECUTIVE

      

      

      _________________________________

      Julian
Ross

      Executive

      
        
           

        

        
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      Exhibit
A

      To
the Employment Agreement by and between OxySure Systems, Inc. and

      
        Julian
T. Ross

      

      
        Dated
January 15, 2009

      

      

      

      
        

         

        (1)
Stock Options

         

        

      

      Subject
to SEC regulations and
the provisions of (1) (a)-(b)
herein, the Executive shall
be issued with Options (the
“Option”) as to the Common Stock of OxySure
Systems, Inc. (“OSI” or the “Company”) pursuant to the Company’s Voting Stock
Option Plan, which Options shall become vested and exercisable in accordance
with the following table.

      

      
        	
                Issue
      Condition

              	
                #Options

              	
                Strike
      Price

              
	
                Completion
      of every calendar month of service during the Term of the Employment
      Agreement

              	
                15,000

              	
                $.25

              
	
                   “Total options available for
      Term”

              	
                180,000

              	 
      

      

      

      

      Where
applicable, option grants will be prorated for partial periods.

      

      (a) Acceleration Upon Change of
Control: The Executive shall enjoy full acceleration of the Option
hereunder if terminated by the acquirer upon a Change of Control event (as
described in the Company’s Voting Stock Option Plan). However, an IPO or a
dilution of all the shareholders of OSI through a public offering does not
constitute a Change of Control event for the purposes of this
provision.

      

      (b) Dilution: There shall be
no upward adjustments made to Options granted hereunder upon future stock
issuances or option issuances by the Company.

      

      If any of
these terms outlined in this §1 conflict with any terms in any other agreements,
then the terms outlined in this Exhibit A shall prevail.

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      

      
        (2)
Salary, Bonus and Benefits

      

      

      (a) Base Salary: Base Salary shall
be $180,000 per annum
($15,000.00 per month, payable twice monthly). If applicable, amounts are
prorated for partial periods.

      

      (b) Annual Bonus: Sales
Bonus: The company will pay a Sales Bonus (the “Sales Bonus”) at the end
of the Term if the company achieves certain Target Net Revenues (“TNR”) during
the 2009 Fiscal Year (January 1, 2009 through December 31, 2009), in accordance
with the following: (i) If TNR is < $1.0 million, then the Sales Bonus is
zero; (ii) If TNR is between $1.0 million and $2.0 million, then the Sales Bonus
is $75,000; (iv) If TNR is between $2.0 million and $3.0 million, then the Sales
Bonus is $100,000; or (v) If TNR is greater than $3.0 million, then the Sales
Bonus is $125,000 plus 1% of TNR in excess of $3.0 million. Financing
Bonus: The company will pay a Financing Bonus (the “Financing Bonus”) if
the company closes any financing during the 2009 Fiscal Year (January 1, 2009
through December 31, 2009) as follows: Two and one half percent (2.5%) of any
financing amounts closed by the Company during the 2009 Fiscal Year, payable at
the closing of such financing(s) from time to time. Stock Performance
Bonus: The company will pay a Stock Performance Bonus (the “Stock
Performance Bonus”), which shall be paid in unrestricted shares of Common Stock
of the Company or in Cash, at the Executive’s sole discretion, in accordance
with the following: If the Company’s stock price maintains a 6-month average
during any period in the Term of $1.50 or higher, then the Stock Performance
Bonus shall be $100,000.

      

      (c) Executive
Benefits:

      

      Participation
in OSI benefits established for senior management from time to time, such as for
example, 401(k), health insurance, key man insurance, etc. PTO shall be 4 weeks
per annum.

      

      (d) Travel: All pre-approved
travel expenses reasonably incurred are reimbursed.

      

      (e)
Severance Provisions: If the Executive is terminated subsequent to the Effective
Date by the Company for anything other than cause, then the Executive shall
receive a severance (“Severance”) as follows:

      

      (i)           An
amount equal to 12 months’ Base Salary, PROVIDED THAT

      

      If the
Executive is terminated by the Acquirer for anything other than cause in a
Change of Control event, then the Executive shall receive a severance equal to
three times (3X) the Severance defined in §2(e) herein. For the purposes of this
§2(e) of the Exhibit A, an IPO or a dilution of all the shareholders of OSI
through a public offering does not constitute a Change of Control event.

      
        
           

        

        
          13oxysures1051509ex10_3.htm

    
      

      

    

    

    Exhibit
10.3  Form of Stock Subscription Agreement for Private
Placements

    

    

    

    

    OxySure® Systems, Inc.

    

    

    

    

    

    
      

      OXYSURE
SYSTEMS, INC.

      

      SUBSCRIPTION
BOOKLET

      (COMMON
STOCK)

      

    

    

    
      
        
           

        

        
          1

          
            

          

        

        
           

        

      

    

     

    

    Subscription
Booklet

    

    

    

    
      

    

    
      OxySure
Systems, Inc., a Delaware Corporation

    

    
      

    

    

    

    

    

    Attached
are the following subscription documents to be completed and executed in order
to subscribe for Shareholder Interests ("Interests") in Oxysure Systems,
Inc.:

    

    

    
      	
               
      

            	
              A

            	
              Offeree/Purchaser
      Questionnaire

            

    

    

    
      	
               
      

            	
              B

            	
              Subscription
      Agreement

            

    

    

    
      	
               
      

            	
              C

            	
              Shareholder
      Signature Page to the Bylaws of OxySure Systems,
  Inc.

            

    

    

     

    
      
        
           

        

        
          2

          
            

          

        

        
           

        

      

    

     

     

    INSTRUCTIONS

     

     

    
      
        	
                1. 

              	
                The
      applicable documents should be completed and executed in their
      entirety.

              

      

       

      
        	
                2. 

              	
                Documents
      to be submitted by every prospective
investor:

              

      

       

    

    
    

    
      	
              A.  

            	
              One
      signed copy of the Investor Questionnaire, with all blanks filled
      in.

            

    

    

    
      	
              B.  

            	
              One
      signed copy of the Subscription Agreement, with all blanks filled
      in.

            

    

    

    
      	
              C.  

            	
              One
      signed copy of the Shareholder Signature Page to the Bylaws of Oxysure
      Systems, Inc.

            

    

    

    
      	
              3.

            	
              Every
      prospective investor whose subscription has been accepted must pay the
      purchase price of the Interests promptly upon receipt of the Acceptance
      Notice (as defined in the Subscription Agreement) or by other arrangements
      with the Chairman of Oxysure Systems, Inc..  Payment shall be
      made by wire transfer of funds or by check in accordance with the
      following:

            

    

     

     
Payee:                  OxySure
Systems, Inc.

      Bank:                  Silicon
Valley Bank

    Santa Clara, CA
95054-1191

     
A/c#:                  330-047-1107

     
ABA#:                  121-140-399

    

    
      	
              4.

            	
              Return
      this entire Booklet with the applicable documents signed to the
      following:

            

    

    

    Oxysure
Systems, Inc.

    10880
John W. Elliott Road

    Suite
600

    Frisco,
Texas 75034 USA

    
      ATTN:
Mr.
Julian Ross

    

    
      
      

    

    

    

    
      
        
           

        

        
          3

          
            

          

        

        
           

        

      

    

    

    

     

    

    

    

    

    

    

    

    

    A.
INVESTOR QUESTIONNAIRE 

      

      

      

      

      

      

      

      

       

      

    

    

    
      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

     

     

    OXYSURE  SYSTEMS,
INC.

    INVESTOR
QUESTIONNAIRE

    (ALL
INFORMATION WILL BE TREATED IN THE HIGHEST CONFIDENCE)

    

    The
information elicited by this Investor Questionnaire (the "Questionnaire") is to
enable the Company to determine whether you or the prospective investor on whose
behalf you are providing this information, as the case may be, meets the
suitability requirements for purchasers under Regulation D promulgated under the
Securities Act of 1933, as amended (the "Securities Act"), and similar
requirements of other applicable securities laws.  The Company will
rely upon the information contained herein for the purpose of such determination
and for the purpose of offering and selling shares ("Shares") in Oxysure
Systems, Inc., a Delaware Corporation (the "Company").  The request to
complete this Questionnaire does not constitute an offer of the
Shares.

    

    INSTRUCTIONS:

    

    Answer
all questions fully; if the answer to any question is "None" or "Not
Applicable," please so state.

    

    If you
are furnishing this information on behalf of yourself or another person that is
a natural person (i.e., an individual), please complete Sections 1 and 4
only.  If you are furnishing this information on behalf of a
prospective investor that is a corporation, partnership, or limited liability
company, please complete Sections 2 and 4 only.  If you are furnishing
this information on behalf of a prospective investor that is a trust, please
complete Sections 3 and 4 only.  All questions should be answered with
regard to the person investing in the Shares.  For example, if a
corporation is subscribing, all answers should relate to that corporation (and
not the officer completing this Questionnaire).

    

    If you
are signing in a capacity other than your individual capacity, please attach
evidence of your authority to sign in such capacity.

    

    

    
      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

     

     

    1.           NATURAL
PERSON (INDIVIDUALS)

    If the prospective investor is a
natural person, please complete this Section 1.

    A. Name:
_______________________________________________________________

     

    Date of birth:
__________________          
Citizenship: ____________________________

     

    Social Security No.:
_______________________________________________________

     

    Residence address:
________________________________________________________

     

    Residence telephone number:
________________________________________________

     

    Business address:
_________________________________________________________

     

    _______________________________________________________________________

     

    Business telephone number:
_________________________________________________

     

    Email Address:
___________________________________________________________

     

    Marital status:
____________________________________________________________

     

    Spouse's full name:
________________________________________________________

     

    Spouse's employment:
______________________________________________________

    

    Spouse's business address:
___________________________________________________

    

    ________________________________________________________________________

    

    Spouse's business telephone number:
___________________________________________

    

    Communications should be sent to
(check one):

    

    Business address: /___ / or Home
address: /___ /

     

      Do
you maintain a house or apartment, pay state income taxes, hold a driver's
license or are you

    
        registered
to vote, in any state other than the state listed as your residence above in
this part A?

    

    
      
      

    

    
      
      

    

    

    Yes
_____                 No
_____

    

     

    
      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

     

     

    
      If "Yes," please state where and
indicate whether such other state is the state of your principal

      residence.  If it is not,
please indicate why it is not.

       

      ________________________________________________________________________

      

      ________________________________________________________________________

      

      ________________________________________________________________________

      
 

    

    
      B.
Occupation:
_____________________________________________________________

    

    
      
      

    

     

           
Position and duties:
________________________________________________________

    

    

    Any prior
occupations or duties during the past five years (including name of employer,
position held and length of service):

    

    _______________________________________________________________________

    

    _______________________________________________________________________

    

    _______________________________________________________________________

    

    

    C. Do you have a net worth, or joint
net worth with your spouse, in excess of $1,000,000?

    

    Yes
_____              No
_____

    

    D. Do you have an individual income in
excess of $200,000 in each of the two most recent years,

    or joint income with your spouse in
excess of $300,000 in each of those years, and have a

    reasonable expectation of exceeding
such income level in the current year?

    

    Yes
_____              No
_____

    

    
      
        
           

        

        
          7

          
            

          

        

        
           

        

      

    

     

     

    
      	
              2.          
       

            	
              CORPORATIONS,
      PARTNERSHIPS, AND LIMITED LIABILITY
COMPANIES

            

    

    

    If the
prospective investor is a corporation, partnership, or limited liability
company, please

    complete
this Section 2.

    

    
      	
                              
      A. Name of entity:
      ________________________________________________________

            

    

    

    Form of organization:
_______________________________________________________

    Date of formation:
__________________________________________________________

    State or country in which organized:
____________________________________________

    Address of entity (including street,
city, state, country and zip code): ___________________

    ________________________________________________________________________

    ________________________________________________________________________

    ________________________________________________________________________

    Telephone number of organization: (         )________________________________________

    Type of business:
__________________________________________________________

    IRS Employer Identification Number:
____________________________________________

    

    B. Number
of shareholders, partners, or members:
__________________________________

    

    Names of shareholders, partners, or
members and percentage of beneficial ownership for each:

    

    ________________________________________________________________________

    

    ________________________________________________________________________

    

    ________________________________________________________________________

    

    

    C. Is the
investor a corporation, a partnership, a limited liability company, a tax-exempt
organization described in section 501 (c)(3) of the Internal Revenue Code, or a
Massachusetts or similar business trust, not formed for the specific purpose of
acquiring the Interests, with total assets in excess of $5,000,000?

    

    Yes
_____               No
_____

    

    D. Is the
investor a bank as defined in section 3(a)(2) of the Securities Act, a savings
and loan association or other institution as defined in section 3(a)(5)(A) of
the Securities Act; a broker or dealer registered pursuant to section 15 of the
Securities Exchange Act of 1934, as amended; an insurance company as defined in
section 2(13) of the Securities Act; or an investment company registered under
the Investment Company Act of 1940, as amended?

    

    
      
        
           

        

        
          8

          
            

          

        

        
           

        

      

    

    

    

    Yes
_____               No
_____

    

    E. Is the
investor a business development company as defined in section 2(a)(48) of the
Investment Company Act of 1940, as amended; a private business development
company as defined in section 202(a)(22) of the Investment Advisers Act of 1940,
as amended; or a Small Business Investment Company licensed by the U.S. Small
Business Administration under section 301 (c) or (d) of the Small Business
Investment Act of 1958?

    

    

    Yes
_____               No
_____

    

    

    F.                ANSWER
THIS QUESTION ONLY IF THE ANSWERS TO EACH OF QUESTIONS C, D AND E OF THIS
SECTION 2 ARE "NO." IF ANY OF SUCH QUESTIONS WERE ANSWERED "YES," PLEASE SKIP
THIS QUESTION AND PROCEED TO SECTION 4.

    

    

    Is the
investor an entity in which all of its equity owners are persons or entities
that can answer "Yes" to at least one of the following questions: Section 1 --
Question C or Question D, Section 2 -- Question C, Question D or Question E,
Section 3 -- Question C, Question D, Question E or Question F?

    

    Yes
_____               No
_____

    

    

    

    If the
answer to this question is "Yes" and if the answers to each of questions C, D
and E of this Section 2 are "No", then each beneficial owner of equity
securities or equity interests in the entity must complete a
Questionnaire.

    

    

    
      
        
           

        

        
          9

          
            

          

        

        
           

        

      

    

     

     

    3.         TRUSTS

    

    If the investment will be in the name
of a trust, please complete this Section 3.

     

    
      A. Name
of trust:
________________________________________________________

    

    
       

    

    Trustee
of trust: _________________________________________________________

     

    
      
        B. Address
of trust (including street, city, state, country and zip
code):

      

    

    
    

     

    ________________________________________________________________________

    

    ________________________________________________________________________

    

    ________________________________________________________________________

    

    Telephone number: (                  
)______________________________________________

    IRS Employer Identification Number:
__________________________________________

    Number of beneficiaries:
____________________________________________________

    

    Names of beneficiaries and percentage
of beneficial interest (excluding contingency interests)

    for each:

    

    ________________________________________________________________________

    

    ________________________________________________________________________

    

    ________________________________________________________________________

    

    

    C. Is the
trust a trust with total assets in excess of $5,000,000, not formed for the
specific purpose of acquiring the Interests, whose purchase is directed by a
person who has such knowledge and experience in financial and business matters
that he is capable of evaluating the merits and risks of an investment in the
Interests?

    

    Yes
_____             No
_____

    

    D. Is the
trustee of the trust that is making the investment decision to purchase the
Interests a bank as defined in section 3(a)(2) of the Securities Act, or any
savings and loan association or other institution as defined in section
3(a)(5)(A) of the Securities Act?

    

    Yes
_____               No
_____

    

    E. Is the
trust an employee benefit plan within the meaning of the Employee Retirement
Income Security Act of 1974, as amended?

       Yes
_____                No
_____

    

    
      
        
           

        

        
          10

          
            

          

        

        
           

        

      

    

    

    

    F. Is the
trust an employee benefit plan within the meaning of the Employee Retirement
Income Security Act of 1974, as amended, (i) whose investment decision to
purchase the Interests is made by a plan fiduciary, as defined in section 3(21)
of the Securities Act, which is either a bank, savings and loan association,
insurance company or registered investment adviser, (ii) which has total assets
in excess of $5,000,000, or (iii) which is a self-directed plan whose investment
decisions are made solely by persons that are accredited investors as defined in
Rule 501 (a) promulgated under the Securities Act?

    

    Yes
_____                No
_____

    

    G. Is the
trust a plan established and maintained by a state, its political subdivisions,
or any agency or instrumentality of a state or its political subdivisions, for
the benefit of its employees, with total assets in excess of
$5,000,000?

    

    Yes
_____                No
_____

    

    H. If the
answers to questions C, D, E, F, and G of this Section 3 are "No", please answer
the following questions (and if the answer to any of questions C, D, E, F, and G
is "Yes", please skip this question and proceed to Section 4):

    

    (i) Is
the trust a revocable grantor trust that may be amended or revoked at any time
by the grantors?

    

    Yes
_____              No
_____

    (ii) If
the answer to subsection (i) is "yes", who are the grantors?

    

    ________________________________________________________________________

    

    ________________________________________________________________________

    

    If the
answer to subsection (i) is "Yes" (and if the answers to questions C, D, E, F,
and G are "No"), Section 1 of this Questionnaire should be completed by each
grantor with information about himself.

    

    

    

    

    

    

    

    

    

    

    

    
      
        
           

        

        
          11

          
            

          

        

        
           

        

      

    

     

     

    
      	
              4.

            	
              INVESTMENT
      EXPERIENCE (TO BE COMPLETED BY ALL
INVESTORS)

            

    

    

    A. Does
the investor have such knowledge of business, finance, securities and
investments generally, and such experience (based on actual participation) in
investments in particular, that he or it is capable of evaluating the risks and
merits of the investment, and believes he or it can afford the complete loss of
his or its investment in the Interests?

    

    Yes
_____              No
_____

    

    B.           Please
indicate whether the investor has made the following types of investments in the
past five years:

    

    Stocks
_____________________________________________________________

    

    Limited
partnerships __________________________________________________

    

    Bonds
_____________________________________________________________

    

    Non-marketable
securities _______________________________________________

    

    Other
experience: _____________________________________________________

    

    ___________________________________________________________________

    

    ___________________________________________________________________

    

    ___________________________________________________________________

    

    

    

    C.             Does
the amount of the investor's proposed investment in the interests exceed 10% of
his or its net worth?

    

    Yes
_____              No
_____

    

    

    

    
      
        
           

        

        
          12

          
            

          

        

        
           

        

      

    

     

     

    THE
UNDERSIGNED UNDERSTANDS THAT THE COMPANY AND ITS AFFILIATES AND ADVISORS WILL BE
RELYING ON THE ACCURACY AND COMPLETENESS OF THE RESPONSES TO THE FOREGOING
QUESTIONS.  THE COMPANY WILL KEEP SUCH RESPONSES IN CONFIDENCE, EXCEPT
THAT THIS QUESTIONNAIRE MAY BE FURNISHED TO SUCH PARTIES AS THE COMPANY DEEMS
DESIRABLE TO ESTABLISH COMPLIANCE WITH FEDERAL AND STATE SECURITIES
LAWS.  THE ABOVE INFORMATION IS ACCURATE AND COMPLETE IN ALL RESPECTS,
AND THE UNDERSIGNED WILL NOTIFY THE COMPANY PROMPTLY OF ANY CHANGES THAT OCCUR
PRIOR TO THE PURCHASE OF THE INTERESTS.

    

    

    Name of
Investor: _____________________________________________________

    

    

    Signature:
___________________________________________________________

    

    Printed
Name: ________________________________________________________

    

    Title (if
applicable): ____________________________________________________

    

    Date:
_______________________________________________________________

    

    

    
      
        
           

        

        
          13

          
            

          

        

        
           

        

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    B.
SUBSCRIPTION AGREEMENT

      

      

      

      

      

      

      

      

      

      

      

      

    

    

    
      
        
           

        

        
          14

          
            

          

        

        
           

        

      

    

     

     

    OXYSURE  SYSTEMS,
INC.

    Oxysure
Systems, Inc.

    10880
John W. Elliott Road

    Suite
600

    Frisco,
Texas 75034 USA

    
      ATTN:
Mr.
Julian Ross

    

    
      
      

    

    

    972-294-6450  FAX  972-294-6501
(fax)

    

    SUBSCRIPTION
AGREEMENT

    

    This
Subscription Agreement (this “Agreement”), dated as of  is entered into
by and between Oxysure Systems, Inc., a Delaware corporation (the “Company”),
and,   the
undersigned investor (the “Investor”).

    

    RECITALS

    

    A.           Investor
desires to purchase   shares (the
“Shares”) of the common stock, par value $0.0004 per share (the “Common Stock”),
of the Company for an aggregate purchase price of___________.

    

    B.           The
parties hereto desire to enter this Agreement to provide for the purchase by the
Investor of the Shares on the terms set forth herein and to govern the parties'
respective rights and obligations with respect thereto.

    

    Accordingly,
the parties agree as follows:

    

    ARTICLE
I

    PURCHASE
AND SALE OF COMMON STOCK

    

    
      	
               
      

            	
              1.1

            	
              Purchase and
      Sale.

            

    

    

    (a)           Subject
to the terms and conditions set forth herein, the Company shall issue and sell
and the Investor shall purchase the Shares.  The purchase price (the
“Purchase Price”) for the Shares shall be _____  per Share, for
an aggregate Purchase Price of ___________.

    

    
      	
               
      

            	
              (b)

            	
              The
      Company shall deliver to the Investor one or more stock certificates
      representing the Shares registered in the names and in the amounts as
      specified by the Investor, and the Investor shall deliver an amount equal
      to the Purchase Price.  Company hereby acknowledges receipt of
      the Purchase Price on  .

            

    

    

    (c)           The
Investor agrees to deliver to the Company from time to time such documents and
certificates as may be reasonably requested by the Company to comply with the
applicable securities laws and all applicable rules and
regulations.

    

    

    ARTICLE
II

    INVESTOR
REPRESENTATIONS AND WARRANTIES

    

    2.1           Representations and
Warranties.  The Investor hereby represents and warrants to the
Company as of the date hereof:

    

    
      
        
           

        

        
          15

          
            

          

        

        
           

        

      

    

    

    

    (a)           Authority.  The
Investor has the requisite power and authority to enter into and to consummate
the transactions contemplated hereby and otherwise to carry out his obligations
hereunder.  This Agreement has been duly executed and delivered by the
Investor and constitutes the valid and legally binding obligation of the
Investor, enforceable against him in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to, or affecting generally
the enforcement of, creditors rights and remedies or by other general principles
of equity.

    

    (b)           No
Solicitation.  The offering of the Shares in the Company to the
Investor was made only through direct, personal communication between the
Investor and a duly authorized representativeof the Company and not through
public solicitation or advertising.

    

    (c)           Investment
Intent.  The Investor is acquiring the Shares for his or its
own account for investment purposes only and not with a view to or for
distributing or reselling such Shares or any part thereof or interest therein
and the Investor does not presently have any reason to anticipate any change in
circumstances or other particular occasion or event which would cause him or it
to sell such Shares, without prejudice, however, to the Investor's right,
subject to the provisions of this Agreement, at all times to sell or otherwise
dispose of all or any part of such Shares pursuant to an effective registration
statement under the Securities Act of 1933, as amended (the “Securities Act”),
or pursuant to an available exemption from the registration requirements
thereunder and in compliance with applicable state securities laws; provided,
however, that the Investor acknowledges that the Company has no obligation to
register the Shares under the Securities Act or any other securities
laws.

    

    (d)           Investor
Status.  The Investor hereby acknowledges that the acquisition
of the Shares pursuant to this Agreement is suitable only for sophisticated
investors.

    

    (e)           Investment Company.
The Investor is not, and following issuance of the Shares will not be, nor is
the Investor an affiliate of an "Investment company' within the meaning of the
Investment Company Act of 1940, as amended, nor was Investor formed, reformed,
or reorganized for the specific purpose of purchasing the Shares.

    

    (f)           Experience of
Investor.  The Investor, either alone or together with the
Investor's representatives, has such knowledge, sophistication and experience in
business, investment and financial matters, and has such knowledge,
sophistication and experience in evaluating and investing in common stocks and
other securities based on actual participation in business, investment and
financial matters, so as to be capable of evaluating the merits and risks of an
investment in the Shares to be acquired by the Investor hereunder, and has so
evaluated the merits and risks of such investment.

    

    (g)           Ability of Investor to Bear
Risk of Investment.  The Investor is able to bear the economic
risk of an investment in the Shares to be acquired hereunder and, at the present
time, is able to afford a complete loss of such investment.  The
Investor is aware that the Company is a start up company and that no guarantees
have been or can be made by the Company or any of its representatives respecting
the future value, if any, of the Shares or the profitability or success of the
business of the Company and no assurances are or have been made concerning the
dividend or distribution by the Company of cash to its
shareholders.

    

    (h)           Access to
Information.  The Investor acknowledges that he has been
afforded (i) the opportunity to ask such questions as the Investor has deemed
necessary of, and to receive answers from, representatives of the Company
concerning the terms and conditions of the Shares offered hereunder and the
merits and risks of investing in such Shares; (ii) access to relevant
information about the Company and the Company's operations, management and
business prospects sufficient to enable him to evaluate an investment in such
Shares; and

    

    
      
        
           

        

        
          16

          
            

          

        

        
           

        

      

    

    

    

    (iii) the
opportunity to obtain such additional information which the Company possesses or
can acquire without unreasonable effort or expense that is necessary to make an
informed investment decision with respect to the investment.

    

    (i)             Reliance.  The
Investor understands and acknowledges that (i) the Shares being offered and sold
to Investor hereunder are being offered and sold without registration under the
Securities Act in a private placement that is exempt from the registration
provisions of the Securities Act under Section 4(2) of the Securities Act and
(ii) the availability of such exemption depends in part on, and that the Company
will rely upon the accuracy and truthfulness of, the foregoing representations
and the Investor hereby consents to such reliance.

    

    (j)             Certain
Fees.  Except as provided herein, no fees or commissions will
be payable by the Investor to any broker, financial advisor, finder, investment
banker, or bank with respect to the transactions contemplated by this
Agreement.  The Company acknowledges and agrees that the Investor
makes no representations or warranties with respect to the transactions
contemplated hereby other than those specifically set forth in this Section
2.l.

    

    2.2            Survival.  All
representations, warranties and covenants contained herein shall survive the
execution and delivery of this Agreement indefinitely.

    

    
      	
               
      

            	
              2.3

            	
              Transfer
      Restrictions.

            

    

    

    (a)             If
the Investor should decide to dispose of any Shares to be acquired hereunder,
the Investor understands and agrees that he may do so only (i) pursuant to an
effective registration statement under the Securities Act, (ii) to the Company
or (iii) pursuant to an available exemption or exclusion from the registration
requirements of the Securities Act.  In connection with any transfer
of any Shares other than pursuant (i) to an effective registration statement,
(ii) to the Company, (iii) to an affiliate of the Investor which is an
"accredited investor" within the meaning of Rule 501(a) under the Securities
Act, provided that any such transferee shall agree to be bound by the terms of
this Agreement, and (iv) in reliance on Rule 144 under the Securities Act, the
Company may require that the transferor provide to the Company an opinion in
form and substance reasonably satisfactory to the Company of counsel experienced
in the area of United States securities laws selected by the transferor to the
effect that such transfer does not require registration of such Shares under the
Securities Act.

    

    (b)             The
Investor agrees to the imprinting, so long as appropriate, of the following
legend on certificates representing the Shares:

    

    “THESE
SHARES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR
THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER REGULATION D PROMULGATED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION OR EXCLUSION FROM THE REGISTRATION
REQUIREMENTS THEREUNDER AND IN COMPLIANCE WITH APPLICABLE STATE SECURITIES
LAWS.

    

    THESE
SHARES ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER SET FORTH IN A
SUBSCRIPTION AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER
HEREOF.  A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE
OF THE COMPANY.”

    

    
      
        
           

        

        
          17

          
            

          

        

        
           

        

      

    

    

    

    The
legend set forth above shall be removed in connection with any resale of Shares
pursuant to an effective registration statement under the Securities Act or
sooner if, in the opinion of counsel to the Company and the Investor experienced
in the area of United States securities laws, such legend is no longer required
under applicable requirements of the Securities Act (including judicial
interpretation and pronouncements issued by the staff of the Securities and
Exchange Commission).  The certificates representing the Shares shall
also bear any other legends required by applicable federal or state securities
laws, which legends shall be removed when, in the opinion of counsel to the
Company, such legends are no longer required under the applicable requirements
of such securities
laws.  In connection therewith, the Company may request, and
the Investor or other transferor shall provide, such information as the
Company or its counsel may reasonably request to evaluate the propriety of
removing any legends.  The Company makes no representation, warranty
or agreement as to the availability of any exemption from registration under the
Securities Act with respect to any resale of Shares.  The Investor
agrees that the Company shall be entitled to make a notation on its records and
give instructions to any transfer agent of the Company in order to implement the
restrictions on transfer set forth in this Section 2.3.

    

    ARTICLE III

    MISCELLANEOUS

    

            
3.1           Entire
Agreement.  This Agreement embodies the entire agreement and
understandingbetween the Investor and the Company and supersedes all prior
agreements and

    understandings
relating to the subject matter hereof.

    

            
3.2           Waiver and
Amendment.  This Agreement may be amended, and the observance
of any term hereof may be waived (either retroactively or prospectively), with
and only with the written consent of the Company and the Investor.  No
amendment or waiver consented to as provided herein will extend to or affect any
obligation, covenant, or agreement not expressly amended or waived or impair any
right, power or remedy consequent thereon.

    
        
3.3           Notices, All notices
and other communications provided for hereunder shall be in writing and
delivered by teleoopier or (if expressly permitted under the applicable
provisions hereof by telephone, if the sender on the same day sends a confirming
copy of such notice by a recognized overnight delivery service (charges
prepaid), by registered or certified Mail with return receipt requested (postage
prepaid) or by a recognized overnight delivery service (with charges
prepaid).  Any such notice must be sent:

    

    
      	
               
      

            	
              (a)

            	
              If
      to Investor:

            

    

    

    _____________________________

    _____________________________

    _____________________________

    

    
      	
               
      

            	
              (b)

            	
              If
      to the Company:

            

    

    

    Oxysure Systems, Inc.

    2611 Internet Boulevard

    Suite 109

    Frisco, Texas 75034 USA

    ATTN:                      Mr.
Julian Ross

    

    

    

    
      
        
           

        

        
          18

          
            

          

        

        
           

        

      

    

    

     

           
(c)             If
any notice required under this Agreement is permitted to be made, and is made,
by telephone, actions taken or omitted to be taken in reliance thereon by the
Investor shall be binding upon the Company notwithstanding any inconsistency
between the notice provided by telephone and any subsequent writing in
confirmation thereof provided to the Investor; provided that any such action
taken or omitted to be taken by the Investor shall have been in good faith and
in accordance with the terms of this Agreement.

    

    3.4             Successors and
Assigns.  All covenants and other agreements contained in this
Agreement by or on behalf of any of the parties hereto bind and inure to the
benefit of its or his successors and assigns, whether or not so
expressed.

    

    3.5             Severability.  Any
provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by applicable law) not
invalidate or render unenforceable such provision in any other
jurisdiction.

    

    3.6             Construction.  Each
covenant contained herein shall be construed (absent express provision to the
contrary) as being independent of each other covenant contained herein, so that
compliance with any one covenant shall not (absent such an express contrary
provision) be deemed to excuse compliance with any other
covenant.  Where any provision herein refers to action to be taken by
any person, or which such person is prohibited from taking, such provision shall
be applicable whether such action is taken directly or indirectly by such
person.

    

    3.7             Execution in
Counterparts.  This Agreement may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.  Delivery of an
executed counterpart of a signature page to this Agreement by telecopier shall
be effective as delivery of a manually executed counterpart of this
Agreement.

    

       
3.8            Governing
Law.  This Agreement shall be governed by and construed in
accordance with the law of the State of Texas.

    

    

    

    

    

    

    

    

    

    

    (THE
NEXT PAGE IS THE SIGNATURE PAGE)

    

    

    

    

    

    

    

    

    
      
        
           

        

        
          19

          
            

          

        

        
           

        

      

    

    

    

    IN
WITNESS WHEREOF, Subscriber has hereby executed this Subscription Agreement as
of the date set forth below.

    

    

    

    

    ____________________________           Subscriber's Address:

    Name of
Subscriber

                                   _____________________________________

     

                   _____________________________________

     

                   _____________________________________

    

    

    

    ____________________________                          _____________________________________

    Name and
Title of Person who
has                               Signature
of Subscriber or Person who has filled

    filled
out this Subscription
Agreement                        out
this Subscription Agreement on its behalf

    on behalf
of Subscriber

    

    

    

    ____________________________                          _____________________________________

    Subscriber's
Social
Security                                           Date

    or Tax ID
No.

    

    

    

    ____________________________

    Aggregate
Amount to be paid for

    Interests

    

    

    

    The
foregoing subscription is hereby accepted, subject to the terms and conditions
hereof, as of the  _______ day of
__________________, 2008.

    

    

    OXYSURE
SYSTEMS, INC.

    

    

    By:
_______________________

            Julian
Ross, Chairman & CEO

    

    

    
      
        
           

        

        
          20

          
            

          

        

        
           

        

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    C.
SHAREHOLDER SIGNATURE PAGE TO THE BYLAWS OF OXYSURE SYSTEMS, INC.

      

      

      

      

      

      

      

      

      

      

      

      

    

    

    
      
        
           

        

        
          21

          
            

          

        

        
           

        

      

    

     

     

    SHAREHOLDER
SIGNATURE PAGE

    

    

    IN
WITNESS WHEREOF, the undersigned Shareholder has approved and adopted, and is
bound by, these Bylaws as of the date first set forth above.

    

    

    

    

    Name of
Shareholder: ____________________________________________________

    

    

    

    

    Signature
for Shareholder: _________________________________________________

    

    

    

    

    Title of
Signing Representative (if applicable):
___________________________________

    

    

    

    

    Date of
Signature: ________________________________________________________

    

    

    

    

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    
      
        
           

        

        
          22

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