Document:

EMPLOYMENT AGREEMENT

 

This employment agreement (this “Agreement”), dated as of December 31, 2005 (the “Effective Date”), is made by and between BTX HOLDINGS, INC. a Florida corporation (the “Company”), BIOTEX CORPORATION, a Florida corporation (“Subsidiary”) and a wholly owned subsidiary of the Company  (collectively BTX HOLDINGS, INC. and BIOTEX CORPORATION shall be referred to as the “Companies”) and SCOTT J. SILVERMAN (the “Executive”).

 

Whereas, the Executive is currently employed as the President and Chief Executive Officer of the Companies; and

 

Whereas, the Companies and the Executive desire to enter into this Agreement as to the terms of the Executive’s continued employment by the Companies;

 

Now, therefore, in consideration of the foregoing, of the mutual promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto intending to be legally bound, hereby agree as follows:

 

	
             
  	
            1.
 	
            POSITION/DUTIES.
 

 

(a)          During the Employment Term (as defined in Section 2 below), the Executive shall serve as the President, Chief Executive Officer and a member of the Board of Directors of the Companies. In this capacity the Executive shall have such duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies and such other reasonable duties and responsibilities as the Board of Directors of the Companies (the “Board”) shall designate. The Executive shall report directly to the Board of the Companies.

 

(b)          During the Employment Term, the Executive shall use his best efforts to perform his duties under this Agreement and shall devote substantially all of his business time, energy and skill in the performance of his duties with the Companies, provided the foregoing will not prevent the Executive from (1) participating in charitable, civic, educational, professional or community affairs or serving on the board of directors or advisory committees of non-profit entities, and (2) managing his and his family’s personal investments, in each case, provided that such activities in the aggregate do not materially interfere with his duties hereunder. [The Executive may serve on the board of directors or advisory committees of for-profit entities with the prior written consent of the Board.]

 

2.            EMPLOYMENT TERM. Except for earlier termination as provided in Section 7, the Executive’s employment under this Agreement shall be for a five year term commencing on the Effective Date and ending on December 31, 2010 (the “Initial Term”). Subject to Section 7, the Initial Term shall be automatically extended for additional terms of successive three year periods (the “Additional Term”) unless the Companies or the Executive gives written notice to the other of the termination of the Executive’s employment hereunder at least 180 days prior to 

 

 

 

the expiration of the Initial Term or Additional Term. The Initial Term and any Additional Term shall be referred to herein as the “Employment Term.”

 

3.            BASE SALARY. The Companies collectively agree to pay the Executive an annual salary based upon the net corporate profits, from all sources, before Depreciation, Amortization and Taxes (“Net Profits”) as collectively defined by the United States Generally Accepted Accounting Principles (“GAAP”). The salary shall be paid in bi-weekly installments and shall be based upon the following thresholds:

 

	
             
  	
            a.
 	
            
In the event that the Net Profits of the Companies is less than $2,500,000 per
annum than the Executive shall receive a salary of $150,000; 
 

	
             
  	
            b.
 	
            In the event that the Net Profits of the Companies is more than $2,500,000 per annum and less than $5,000,000 than the Executive shall receive a salary of $250,000;  
 

	
             
  	
            c.
 	
            In the event that the Net Profits of the Companies is more than $5,000,000 per annum but less than $7,500,000 than the Executive shall receive a salary of $375,000;  
 

	
             
  	
            d.
 	
            In the event that the Net Profits of the Companies is greater than $7,500,000 per annum than the Executive shall receive a salary of $500,000;
 

 

Once a threshold has been met, the salary cannot be reduced below the base salary for that threshold for the balance of the term of the Agreement. The Net Profits of the Companies shall be determined on a quarterly basis with the Executive to receive any monies owed on a retroactive basis for a past quarter. The Executive’s Base Salary shall be subject to annual review by the Board (or a committee thereof) and may be increased, but not decreased, from time to time by the Board. The base salary as determined herein from time to time shall constitute “Base Salary” for purposes of this Agreement.

 

4.            BONUS. During the Employment Term, the Executive shall receive a guaranteed annual bonus of 4% of the Annual Net Profits of the Companies, from all sources, before Depreciation, Amortization and Taxes, in excess of $10,000,000, to be paid within thirty (30) days of receipt of the audited financial statements. Additionally, during the Employment Term, the Executive shall also be eligible to participate in the Companies’ bonus and other incentive compensation plans and programs (if any) for the Companies’ senior executives at a level commensurate with his position. Such bonuses shall be determined by the Compensation Committee as formed by the Board of Directors of the Companies.

 

5.            OPTIONS.  Executive is granted the right to purchase 1,000,000 shares of the Company’s common stock as set forth below:

 

	
             
 	
            a)
 	
            Group 1 – Options for 200,000 shares of the Company’s stock at an exercise price of $2.50 that expire in 2015. Options shall be fully vested upon execution of this Agreement.
 

 

2

 

 

 

	
             
 	
            b)
 	
            Group 2 – Options for 200,000 shares of the Company’s stock at an exercise price of $3.75 that expire in 2015. Options shall be fully vested upon execution of this Agreement.
 

	
             
 	
            c)
 	
            Group 3 – Options for 200,000 shares of the Company’s stock at an exercise price of $5.00 that expire in 2015. Options shall be fully vested upon execution of this Agreement.
 

	
             
 	
            d)
 	
            Group 4 – Options for 200,000 shares of the Company’s stock at an exercise price of $7.50 that expire in 2015. Options shall be fully vested upon execution of this Agreement.
 

	
             
 	
            e)
 	
            Group 5 – Options for 200,000 shares of the Company’s stock at an exercise price of $10.00 that expire in 2015. Options shall be fully vested upon execution of this Agreement.
 

These rights shall be considered the property of the Executive and shall no longer bear any encumbrances or restrictions other than those relating to applicable state and federal law. Nothing in this section shall effect or prohibit anything else in this agreement, including but not limited to Section 7.

 

	
             
  	
            6.
 	
            EMPLOYEE BENEFITS.
 

 

(a)          Benefit Plans. The Executive shall be eligible to participate in any employee benefit plan of the Companies, including, but not limited to, equity, pension, thrift, profit sharing, medical coverage, education, or other retirement or welfare benefits that the Companies has adopted or may adopt, maintain or contribute to for the benefit of its senior executives at a level commensurate with his positions, subject to satisfying the applicable eligibility requirements. Company shall pay the entire cost of these benefits. 

 

(b)          Vacations. The Executive shall be entitled to an annual paid vacation in accordance with the Companies’ policy applicable to senior executives, but in no event less than four weeks per calendar year (as prorated for partial years), which vacation may be taken at such times as the Executive elects with due regard to the needs of the Companies.

 

(c)          Business and Entertainment Expenses. Upon presentation of appropriate documentation, the Executive shall be reimbursed in accordance with the Companies’ expense reimbursement policy for all reasonable and necessary business and entertainment expenses incurred in connection with the performance of his duties hereunder.

 

(d)          Automobile Benefit. The Companies shall provide Executive with the automobile of his choice not to exceed $1,500 per month for the lease or finance payments. Company shall also provide such expenses associated with the automobile including but not limited to insurance, gas, repairs and maintenance. 

 

7.            TERMINATION. The Executive’s employment and the Employment Term shall terminate on the first of the following to occur:

 

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(a)          Disability. The thirtieth day following written notice by the Companies to the Executive of termination due to Disability. For purposes of this Agreement, “Disability” shall mean the inability of the Executive to perform his material duties hereunder due to a physical or mental injury, infirmity or incapacity for 180 days (whether or not consecutive) during any 12 month period.

 

	
             
  	
            (b)
 	
            Death. Automatically on the date of death of the Executive.
 

 

(c)          Cause. Immediately upon written notice by the Companies to the Executive of a termination for Cause. “Cause” shall mean the willful misconduct of the Executive with regard to the business or affairs of the Companies that is materially injurious to the Companies. In all cases the Executive shall have fifteen days after the receipt of written notice thereof from the Companies to cure (if curable) the circumstances giving rise to the Cause event.

 

(d)          Without Cause. On the thirtieth day following written notice by the Companies to the Executive of an involuntary termination without Cause, other than for death or Disability.

 

(e)          Good Reason. On the sixtieth day following written notice by the Executive to the Companies of a termination for Good Reason. “Good Reason” shall mean, without the express written consent of the Executive, the occurrence of any of the following events unless such events are cured (if curable) by the Companies within fifteen days following receipt of written notification by the Executive to the Companies that he intends to terminate his employment hereunder for one of the reasons set forth below:

 

(i)           any reduction or diminution (except temporarily during any period of incapacity due to physical or mental illness) in the Executive’s titles or a material reduction or diminution in the Executive’s authorities, duties or responsibilities or reporting requirements with the Companies; or 

 

	
             
  	
            (ii)
 	
            a material breach by the Companies of any provisions of this Agreement.
 

 

(f)           Without Good Reason. On the ninetieth day following written notice by the Executive to the Companies of the Executive’s voluntary termination of employment without Good Reason (which the Companies may, in its sole discretion, make effective earlier than any notice date).

 

	
             
  	
            8.
 	
            CONSEQUENCES OF TERMINATION.
 

 

(a)          Disability. Upon termination of this Agreement because of the Executive’s Disability, the Companies shall pay or provide the Executive (1) any unpaid Base Salary through the date of termination and any accrued vacation; (2) any unpaid bonus accrued with respect to the fiscal year ending on or preceding the date of termination; (3) reimbursement for any unreimbursed expenses properly incurred through the date of termination; and (4) all other payments or benefits to which the Executive may be entitled under the terms of any applicable compensation arrangement, plan or program (collectively, “Accrued Benefits”).

 

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(b)          Death. Upon the termination of this Agreement because of the Executive’s death, the Executive’s estate shall be entitled to any Accrued Benefits.

 

(c)          Termination for Cause or Without Good Reason. Upon the termination of this Agreement by the Companies for Cause, by the Executive without Good Reason, or by either party in connection with a failure to renew this Agreement, the Companies shall pay to the Executive any Accrued Benefits.

 

(d)          Termination without Cause or for Good Reason. Upon the termination of this Agreement by the Companies without Cause or by the Executive with Good Reason and subject to the Executive’s execution (and non-revocation) of a general release of claims against the Companies and its affiliates in a form reasonably requested by the Companies, the Companies shall pay or provide the Executive with (1) the Accrued Benefits; (2) continued payment to the Executive his rate of salary and guaranteed bonus for the Term in which termination occurs, including such percentage of Corporate Profits as is applicable, for 36 months after termination, payable in accordance with the regular payroll practices of the Companies, but off the payroll; (3) all benefits accorded to
Executive prior to termination for a period of 36 months after termination; (3) the exercise price for all 1,000,000 options described in Section 5 shall be paid by the Companies; and (4) the Companies shall issue the Executive 5,000,000 shares of restricted common stock with demand registration rights. Payments provided under this Section 8(d) shall be in lieu of any termination or severance payments or benefits for which the Executive may be eligible under any of the plans, policies or programs of the Companies.

 

9.            No Assignment. This Agreement is personal to each of the parties hereto. Except as provided below, no party may assign or delegate any rights or obligations hereunder without first obtaining the written consent of the other party hereto. The Companies may assign this Agreement to any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Companies.

 

10.          Notices. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (1) on the date of delivery if delivered by hand, (2) on the date of transmission, if delivered by confirmed facsimile, (3) on the first business day following the date of deposit if delivered by guaranteed overnight delivery service, or (4) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

	
             
 	
            If to the Executive:
 

 

At the address (or to the facsimile number) shown on the records of the Companies

 

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            With a Copy to:
 

 

	
             
 	
            James Goldberg
 	
             

	
             
 	
            Thorp, Reed & Armstrong, LLP
 	
             

	
             
 	
            One Oxford Center, 301 Grant Street
 
	
             
 	
            14th Floor
 	
             

	
             
 	
            Pittsburgh, PA 15219-1425
 	
             

	
             
 	
            Facsimile: (412) 394-2555
 	
             

							

 

If to the Companies:

 

	
             
 	
            BTX Holdings, Inc.
 	
             

	
             
 	
            1400 Cypress Creek Road
 	
             

	
             
 	
            Fort Lauderdale, FL 33309
 
	
             
 	
            Attention: President
 	
             

	
             
 	
            Facsimile: (954) 491-9200
 	
             

					

 

	
             
 	
            With a copy to:
 

 

	
             
 	
            Anslow & Jaclin, LLP
 	
             

	
             
 	
            Freehold Executive Center
 
	
             
 	
            195 Route 9 South
 	
             

				

Suite 204

Manalapan, NJ 07726

	
             
 	
            Attention: Gregg Jaclin
 	
             

	
             
 	
            Facsimile: (732) 577-1188
 

 

or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.

 

	
             
  	
            11.
 	
            PROTECTION OF THE COMPANIES’ BUSINESS.
 

 

(a)           Confidentiality. The Executive acknowledges that in his employment hereunder he will occupy a position of trust and confidence. The Executive shall not, except as in good faith deemed necessary by the Executive to perform his duties hereunder or as required by applicable law or legal process, without limitation in time or until such information shall have become public or known in the Companies’ industry other than by the Executive’s unauthorized disclosure, disclose to others or use, whether directly or indirectly, any Confidential Information regarding the Companies. “Confidential Information” shall mean information about the Companies, its subsidiaries and affiliates, and their respective clients and customers that is not disclosed
by the Companies and that was learned by the Executive in the course of his employment by the Companies, including any proprietary knowledge, trade secrets, data, formulae, information and client and customer lists and all papers, resumes, and records (including computer records) of the documents containing such Confidential Information.

 

 

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(b)          Non-Competition. During the period that the Executive is employed by the Companies hereunder and for the one year period thereafter (the “Restricted Period”), the Executive shall not, directly or indirectly, without the prior written consent of the Companies, provide employment (including self-employment), directorship, consultative or other services to any business, individual, partner, firm, corporation, or other entity that competes with the then businesses of the Companies or its affiliates. Nothing herein shall prevent the Executive from having a passive ownership interest of not more than 2% of the outstanding securities of any entity whose securities are traded on a national securities exchange.

 

(c)          Non-Solicitation of Employees. The Executive recognizes that he possesses and will possess confidential information about other employees of the Companies and its affiliates relating to their education, experience, skills, abilities, compensation and benefits, and inter-personal relationships with customers of the Companies and its affiliates. The Executive recognizes that the information he possesses and will possess about these other employees is not generally known, is of substantial value to the Companies and its affiliates in developing its business and in securing and retaining customers, and has been and will be acquired by him because of his business position with the Companies. The Executive agrees that, during the Restricted Period, he will not,
directly or indirectly, solicit or recruit any employee of the Companies or any of its affiliates for the purpose of being employed by him or any other entity.

 

(d)          Non-Solicitation of Customers. The Executive agrees that, during the Restricted Period, he will not, directly or indirectly, interfere with, disrupt or attempt to interfere or disrupt any relationship, contractual or otherwise, between the Companies or its affiliates and any of their respective customers, suppliers, clients or vendors.

 

(e)          Non-Disparagement. Executive shall not, and shall not induce others to, Disparage the Companies or its affiliates or their past and present officers, directors, employees or products. “Disparage” shall mean making comments or statements to the press, the Companies’ or its affiliates’ employees or any individual or entity with whom the Companies or its affiliates has a business relationship which would adversely affect in any manner (1) the conduct of the business of the Companies or its affiliates (including any products or business plans or prospects), or (2) the business reputation of the Companies or its affiliates, or any of their products, or their past or present officers, directors or employees.

 

(f)           Cooperation. Subject to the Executive’s other reasonable business commitments, following the Employment Term, the Executive shall be available to cooperate with the Companies and its outside counsel and provide information with regard to any past, present, or future legal matters which relate to or arise out of the business the Executive conducted on behalf of the Companies and its affiliates, and, upon presentation of appropriate documentation, the Companies shall compensate the Executive for any out-of-pocket expenses reasonably incurred by the Executive in connection therewith.

 

(g)          Equitable Relief and Other Remedies. The Executive acknowledges and agrees that the Companies’ remedies at law for a breach or threatened breach of any of the provisions of this Section would be inadequate and, in recognition of this fact, the Executive agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Companies, 

 

7

 

 

without posting any bond, shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available.

 

(h)          Reformation. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the law of that state.

 

(i)           Survival of Provisions. The obligations contained in this Section shall survive in accordance with their terms the termination or expiration of the Executive’s employment with the Companies and shall be fully enforceable thereafter.

 

12.          Arbitration. Any dispute or controversy arising under or in connection with this Agreement, other than injunctive relief under Section 11 hereof, shall be settled exclusively by arbitration, conducted before a single arbitrator in Ft. Lauderdale, Florida in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association then in effect. The decision of the arbitrator will be final and binding upon the parties hereto. Judgment may be entered on the arbitrator’s award in any court of competent jurisdiction. Each party shall bear its own legal fees and costs and equally divide the forum fees and cost of the arbitrator.

 

13.          SECTION HEADINGS AND INTERPRETATION. The section headings used in this Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. Expression of inclusion used in this agreement are to be understood as being without limitation.

 

14.          SEVERABILITY. The provisions of this Agreement shall be deemed severable and the invalidity of unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof.

 

15.          COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same Agreement.

 

16.          MISCELLANEOUS. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer or director as may be designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver or similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. The validity,
interpretation, construction and performance of this 

 

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Agreement shall be governed by the laws of the State of Florida without regard to its conflicts of law principles.

 

17.          MITIGATION. In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, nor shall the amount of any payment thereunder be reduced by any compensation earned by the Executive as a result of employment by another employer not in violation of this Agreement.

 

18.         WITHHOLDING. The Companies may withhold from any and all amounts payable under this Agreement such federal, state, local and foreign taxes as may be required to be withheld pursuant to any applicable law or regulation.

 

19.          AUTHORITY AND NON-CONTRAVENTION. The Executive represents and warrants to the Companies that he has the legal right to enter into this Agreement and to perform all of the obligations on his part to be performed hereunder in accordance with its terms and that he is not a party to any agreement or understanding, written or oral, which could prevent him form entering into this Agreement or performing all of his obligations hereunder.

 

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

 

BTX HOLDINGS, INC.

 

 

/s/          Scott J. Silverman

	
             
 	
            By:  
 	
            Scott J Silverman
 
	
             
 	
            Title:
 	
            President/CEO
 	
             

 

BIOTEX CORPORATION

 

	
             
 	
            /s/          Scott J. Silverman
 
	
             
 	
            By:  
 	
            Scott J Silverman
 	
             

	
             
 	
            Title:
 	
            President/CEO
 	
             

					

 

 

/s/          Scott J. Silverman

	
             
 	
            SCOTT J. SILVERMAN
 

 

 

9Consulting Agreement - Dan Seifer

    

    January
      9, 2006

    

    Mr.
      Ron
      Heineman

    CEO

    Resolve,
      Staffing, Inc. 

    3235
      Omni
      Drive

    Cincinnati,
      OH 45245

    

    Re:
      Business Advisory Agreement

    

    Dear
      Ron:

    

    I
      wish to
      thank Resolve Staffing, Inc. (the “Company”) for the opportunity to represent
      you as a business advisor in connection with the Company’s growth and expansion
      efforts. The purpose of this letter (the “Agreement”) is to set forth the terms
      and conditions under which Dan Seifer (the “Consultant”) SCI agrees to serve the
      Company as a business advisor. 

    

    
      	1.  	
              Services.
                Consultant shall use its best efforts to perform the following services
                in
                a timely manner:

            

    

    

    
      	(a)  	
              Business
                Plan Development -
                Become familiar with the business and operations of the Company and
                review
                and analyze the Company’s formal and informal financial, strategic, and
                business plans. In conjunction with the Company, prepare and update
                a
                formal strategic business plan along with a detailed financial
                model/projection, and update the business plan and financial model
                as
                needed during the term of this
                Agreement;

            

    

    
      	(b)  	
              Strategic
                Consulting -
                Assist the Company in sourcing and locating joint-venture partners.
                Advise
                the Company in strategic planning matters and assist in the implementation
                of short- and long-term strategic planning initiatives to fully develop
                and enhance the Company’s assets, resources, products, and technologies.
                Provide
                advice to and consult with the Company concerning management, product
                marketing, strategic planning, and corporate organization in connection
                with the Company’s business and advise the Company regarding its overall
                development, progress, needs, and condition. If requested by the
                Company,
                assist in the due diligence of prospective strategic
                partners.

            

    

    
      	(c)  	
              Other
                Services -
                Perform
                other services as may be reasonably requested by the Company that
                are
                within the normal scope of operations of Dan
                Seifer.

            

    

    

    
      	2.  	
              Term.
                This
                Agreement shall be in effect for twelve (12) months from the date
                of
                acceptance by the Company unless either party terminates the Agreement
                by
                providing the other party with 30 (thirty) days’ written notice.
                

            

    

    

    
      	3.  	
              Consideration.
                For the advice and services to be provided by the Consultant to the
                Company under this Agreement, the Company agrees to pay the Consultant
                a
                business advisory fee consisting of options to purchase up to
                4,000,000
                shares of the Company’s common stock at a price of $1.50 per
                share.
                These option shall expire upon the termination of this
                agreement.

            

    

     

    
      	4.  	
              Indemnity.
                The
                Company agrees to indemnify, defend, and hold harmless the Consultant
                and
                its affiliates, directors, officers, counsel, employees, agents,
                members,
                managers successors, assigns, and controlling persons (as defined
                in the
                Act) (each, an “Indemnified Party”) from and against any and all losses,
                claims, damages, costs, expenses, and liabilities (including any
                investigatory, legal, and other expenses incurred as they are incurred
                by
                an Indemnified Party in connection with preparing for or defending
                any
                action, claim, or proceeding, whether or not resulting in any liability)
                (collectively, “Indemnifiable Losses”) to which any Indemnified Party may
                become subject or liable relating to or arising out of (a) the Agreement
                or the services to be performed under the Agreement or any agreement
                between the parties to this Agreement, (b) any transactions referred
                to in
                the Agreement or any transactions arising out of the transactions
                contemplated by the Agreement, (c) any inaccuracy in or breach in
                the
                representations and warranties of the Company contained in this Agreement,
                and (d) any failure of the Company to perform its obligations under
                this
                Agreement, provided that the Company shall not be liable to an Indemnified
                Party in any such case to the extent that any such Indemnifiable
                Loss is
                found in a final, nonappealable judgment by a court of competent
                jurisdiction to have resulted as a direct and proximate cause from
                the
                willful misconduct or gross negligence of an Indemnified Party. No
                Indemnified Party shall be liable, responsible, or accountable in
                damages
                and costs and expenses (including attorneys’ fees) under this Agreement
                except for any liability for losses, claims, damages, or liabilities
                finally judicially determined to have resulted solely and exclusively
                from
                actions taken or omitted to be taken as a direct result of such
                Indemnified Party’s gross negligence or willful misconduct. If for any
                reason, except as specifically provided herein, the foregoing indemnity
                for Indemnifiable Losses is unavailable to an Indemnified Party or
                insufficient to fully hold any Indemnified Party harmless, then the
                Company agrees to contribute to the amount paid or payable by such
                Indemnified Party as a result of such Indemnifiable Losses in such
                proportion as is appropriate to reflect the relative benefits received
                by
                and fault of the Company, on the one hand, and the relative benefits
                received by and fault of the Consultant, on the other hand. The Company
                agrees that it will not settle, compromise, or consent to the entry
                of any
                judgment in any pending or threatened claim, action, or proceeding
                in
                respect of which indemnification could be sought under the indemnification
                provision of this Agreement (whether or not the Consultant or any
                other
                Indemnified Party is an actual or potential party to such claim,
                action,
                or proceeding), unless such settlement, compromise, or consent includes
                an
                unconditional release of each Indemnified Party from all liability
                arising
                out of such claim, action, or
                proceeding.

            

    

    

    
      	5.  	
              Non-Circumvent
                Agreement.
                The Company agrees that all third parties introduced to it by the
                Consultant represent significant efforts and working relationships
                that
                are unique to, and part of, the work product and intellectual capital
                of
                the Consultant. Therefore, without the prior specific written consent
                of
                the Consultant the Company agrees to refrain from conducting direct
                or
                indirect business dealings of any kind with any third party so introduced
                by the Consultant, with the exception of third parties with which
                the
                Company has previously had a formal business relationship, for
                a period of eighteen months from the initial introduction made during
                the
                course of this Agreement. In the event of a violation of this
                provision,
                the Consultant shall be entitled to obtain on an ex
                parte
                application, appropriate injunctive relief from any court of competent
                jurisdiction, together with and including all remedies available
                at law.
                This provision shall survive the remaining obligations and performance
                due
                hereunder.

            

    

    

    
      	6.  	
              Legal
                Matters.
                This Agreement shall be interpreted under and governed by the laws
                of the
                State of Ohio. Any controversy, dispute, or claim between the parties
                relating to this Agreement shall be resolved by binding arbitration
                in
                Cincinnati, Ohio, in accordance with the rules of the American Arbitration
                Association. The parties agree that in the event that any controversy,
                dispute, or claim between the parties relating to this Agreement,
                is
                resolved by binding arbitration, the prevailing party, as determined
                by
                the arbitrator's award, shall be entitled to reimbursement of all
                expenses
                including reasonable attorney's fees; provided that in no event shall
                the
                arbitrator have the authority to award punitive
                damages.

            

    

    

    
      	7.  	
              Independent
                Contractor.
                The Consultant is an independent contractor and may engage in other
                business activities. Since the Consultant is an independent contractor,
                nothing in this Agreement shall be interpreted to constitute that
                the
                Consultant is an agent of, employee of, or partner of the Company,
                nor
                shall either party have any authority to bind the other. Therefore,
                the Consultant cannot commit the Company to actions, or contracts
                or deals
                without advance written authorization from the Company.
                In
                its capacity as an independent contractor, the Consultant agrees,
                and the
                Company agrees, that the Consultant has the sole right to control
                and
                direct the means, manner, and method by which the services required
                by
                this Agreement will be performed and the Company shall not withhold
                from
                the Consultant’s compensation any amount that would normally be withheld
                from an employee’s pay.

            

    

    

    
      	8.  	
              Entire
                Agreement. This
                Agreement constitutes the entire agreement between the parties pertaining
                to the subject matter hereof and supersedes and cancels any prior
                communications, representations, understandings, and agreements between
                the parties. No modifications of or changes to this Agreement shall
                be
                binding, nor can any of its provisions be waived, unless agreed to
                in
                writing by the parties.

            

    

    

    
      	9.  	
              Confidentiality.
                The
                parties agree that the terms and all of the encompassing components
                of
                this Agreement shall be kept confidential, unless this information
                is
                required to be disclosed pursuant to any inquiries by federal, state,
                or
                local law enforcement.

            

    

    

    

    Very
      Truly Yours,

    

    

    Dan
      Seifer

    

    

    

    By:_/s/
      Dan Seifer______

          
      Dan Seifer

    

    

     

    

    ACCEPTED
      AND AGREED TO THIS __9__ DAY OF __January____, 2006.

    

    

    Resolve
      Staffing, Inc.

    

    

    

    By:
      _/s/ Ron Heineman________ 

       Ron
      Heineman, CEO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}]]