Document:

ex10_3.htm

Exhibit 10.3

CONSULTING SERVICES AGREEMENT

 

THIS AGREEMENT is made as of June 30, 2011.

BETWEEN:

Titan Iron Ore Corp a corporation organized under the laws of the State of Nevada,

	
  

	
(herein called the “Corporation”) 

	
Party of the First Part

- and -

Kriyah Consultants LLC, a limited liability company organized under the laws of the State of Arizona.

	
  

	
(herein called “Consultant”)  

	
Party of the Second Part

RECITALS:

	
A.

	
The Corporation wishes to engage the Consultant to assist the Corporation to provide administrative and related services at and from Consultant’s office located in Tucson, Arizona.

	
B.

	
The Consultant wishes to accept this engagement by the Corporation.

NOW THEREFORE IN CONSIDERATION OF THE MUTUAL COVENANTS AND AGREEMENTS CONTAINED IN THIS AGREEMENT AND OTHER GOOD AND VALUABLE CONSIDERATION, THE PARTIES AGREE AS FOLLOWS:

	
1.

	
DEFINITIONS

In this Agreement,

“Agreement” means this agreement as it may be amended from time to time;

“Compensation” means amounts set out in Section 4 hereof;

“Confidential Information” means all confidential or proprietary information, intellectual property (including trade secrets) and confidential facts relating to the business and affairs of the Corporation;

“Corporation” includes affiliates, subsidiaries and associates of the Corporation unless the context otherwise requires;

“Expenses” means amounts set out in Section 4 hereof; and

“Term” means the period commencing June 30, 2011 and terminating in accordance with Section 10 hereof.

  

1

  

2.                              REPRESENTATION AND WARRANTIES

Each of the Corporation and the Consultant hereby covenants, represents and warrants as follows:

	
  

	
(a)

	
They have all of the necessary corporate power, authority and capacity to enter into this agreement and the agreements and the other instruments contemplated herein and to perform their respective obligations hereunder and thereunder.  The execution and delivery of this Agreement and the agreements and other instruments contemplated herein and the consummation of the transactions contemplated hereunder and thereunder have or will be duly authorized by all necessary corporate action required by each party;

	
  

	
(b)

	
This Agreement and the agreements and other instruments contemplated herein when executed will constitute valid and binding obligations of each of the parties enforceable against each of them as is applicable in accordance with the terms hereof and thereof subject, however, to limitations with respect to enforcement imposed in connection with laws affecting the rights of creditors generally including, without limitation, applicable bankruptcy, insolvency, moratorium, reorganization or similar laws and to the extent that equitable remedies such as specific performance and conjunction are in the discretion of the court from which they are sought;

	
  

	
(c)

	
Each of the parties are duly incorporated and organized, validly existing, in good standing and are up to date in all of the filings and registration required under the laws of the jurisdiction in which they are incorporated; and

	 	
(d)

	
The entering into and performance of this Agreement and the agreements and other instruments contemplated herein will not violate, contravene, breach or offend against or result in any default under any security agreement, indenture, mortgage, lease, order, undertaking, licence, permit, agreement, instrument, charter or by-law provision, resolution of shareholders or directors, statute, regulation, judgment, decree or law to which the parties hereto are a party or by which they may be bound or affected. No licenses, agreements or other instruments or documents of the Corporation or any of its Subsidiaries will terminate or require assignment as a result of the entering into of this Agreement or the consummation of the transactions contemplated hereby.

3.                              ENGAGEMENT OF THE CONSULTANT

The Corporation hereby engages the Consultant for the Term to perform the following services related to the operations of the Corporation:

 

	 	
(a)

	
Provide office space, office equipment, utilities, phones and furniture;

	 	
(b)

	
Employ secretarial, bookkeeping, accounting,  recordkeeping, legal compliance and related personnel;

	 	
(c)

	
Advise the Corporation regarding financial planning, corporate development, and corporate governance;

  

2

  

 

	 	
(d)

	
Prepare or cause to be prepared all required documentation for the operation of the Corporation;

	 	
(e)

	
Provide instructions and directions to the Corporation's legal counsel, accountants and auditors;

	 	
(f)

	
Insure that all accounting records are maintained to meet generally accept accounting principals and quarterly and annual reports are prepared and filed to meet regulatory requirements; and

	 	
(g)

	
All activities of the Consultant performed on behalf of the Corporation shall be carried out at the direction of the Board of Directors of the Corporation or its officers, provided that any officer of the Corporation associated with the Consultant shall abstain from voting on the approval of this Agreement by the Board of Directors of the Corporation.

4.                              COMPENSATION

(a)            As compensation for the services to be provided by the Consultant hereunder, the Corporation agrees to pay to the Consultant, commencing June 30, 2011, the sum of  $2,500.00 USD per month during the Term in accordance with the provisions of Section 5 hereof.

(b)           The Consultant shall invoice the Corporation monthly for all expenses incurred with respect to the operation of the administration of the Corporation, including but not limited to, the Corporation’s allocable share of Consultant’s office rent, office equipment, employee and contractor wages and benefits, phones and other office operational costs (such allocable share to be determined according to the number of like clients being serviced by Consultant at its Tucson location).

(c)           The Corporation further agrees to advance Consultant the sum of $25,000.00 USD, an amount that reflects Corporation’s approximate, anticipated monthly expenses to be paid by Consultant on Corporation’s behalf, not including Consultants monthly $2,500 USD fee described above.  These funds shall be used for the restricted purpose of paying Corporation’s expenses as Corporation’s expenses arise.  This sum shall constitute a liability to Consultant to the extent that it is not off-set by expenses paid by Consultant which have not been reimbursed on Corporations behalf or other liabilities of Consultant incurred on Corporation’s behalf at any given time. The above described sum shall be advanced within ten (10) days of the execution of this Agreement.

(d)           The Consultant shall provide receipts for all expenses and other items for which it is entitled to reimbursement and such other documentation as may be reasonably requested by the Corporation’s auditors.

(e)            It is understood that the Corporation has procedures for the authorization of all payments and the issuance of checks and which payments to the Consultant are subject.  The responsible for carrying out these procedures are those of the Consultant its officers and employees.

 

  

3

  

(f)            The Corporation and Consultant agree to negotiate in good faith a specified amount of options to purchase statutory common shares of the Corporation, and the terms thereof, that will be provided to Consultant as further compensation hereunder.  The grant of options is conditional upon Consultant and Corporation entering into a standard stock option agreement and such grant satisfying applicable securities laws.

5.                             TERMS OF PAYMENT

Fees and expenses are billed monthly and are due on receipt of invoice.  Amounts unpaid after 15 days bear interest at the rate of 1.5% per month.

 

6.                             NATURE OF RELATIONSHIP

The parties further acknowledge and agree, solely with respect to the rights and obligations of the Consultant under this Agreement, as follows:

	
  

	
(a)

	
The relationship of the Consultant to the Corporation is that of an independent contractor;

	
  

	
(b)

	
The Consultant is not an employee or agent of the Corporation; and

 

 

	
  

	
(c)

	
The Corporation and the Consultant are not partners or joint venturers with each other.

7.                              NO CONFLICTS OF INTEREST

The Consultant will not, without the permission of the Corporation, engage in any business or other transaction or have any financial or other personal interest which is incompatible with the performance by the Consultant of the duties under this Agreement in the manner contemplated by this Agreement.

The Corporation acknowledges that the Consultant will provide from time to time similar services for other parties which shall not be considered a conflict of interest subject to the discharge of the Consultant’s obligations under this Agreement and in particular those related to confidentiality.

8.                             NO USE OF CONFIDENTIAL INFORMATION

During and at all times after the Term, the Consultant will cause its officers, directors and employees to keep confidential all Confidential Information and will not use for the benefit of the Consultant its officers, directors and employees or others (except in connection with the business and affairs of the Corporation in the course of providing services hereunder) any Confidential Information and will not disclose Confidential Information to any person except in the course of providing services under this Agreement to a person who is employed by the Corporation or with the Corporation’s prior consent.

 

  

4

  

 

The foregoing prohibition will not apply to any Confidential Information if:

	
  

	
(a)

	
The Confidential Information is available to the public or in the public domain at the time of disclosure or use; or

	
  

	
(b)

	
Disclosure is required to be made by operation of law, in which case the Consultant will notify the Corporation immediately upon learning of that requirement; or

	
  

	
(c)

	
Disclosure is made with the Corporation’s prior written approval.

	
  

	
(d)

	
All officers, directors and employees or consultants of the Consultant providing services to the Corporation will be presented a copy of the Corporation’s Corporate Governance Manual, upon receipt of the manual from the Corporation, and will be required to execute the section in the manual declaring that they have read the Code of Business Conduct and Ethics and agree to comply with its terms and conditions.

9.                             NO AUTHORITY TO BIND THE CORPORATION

Without limiting the provisions of Section 3, the Consultant, in its capacity as Consultant under this Agreement, has no authority to act on behalf of, or to hold itself out to be an agent of the Corporation or to bind the Corporation to perform any obligations to any third party and the Consultant will, as appropriate, so inform all third parties with whom the Consultant deals in the performance of its services.  The Consultant will not use the name of the Corporation in any advertisement or promotional or marketing material or, without the use of any such name, suggest or imply in any such material that the Consultant has a relationship with the Corporation other than that established by this Agreement, unless otherwise agreed to in writing by the Corporation.

10.                           TERM AND TERMINATION

The Term of this Agreement shall be one (1) year and shall automatically renew from year to year unless terminated.  Either party may terminate this Agreement at any time on 15  days written notice subject to the provisions of Sections 5, 7, 8 and 11 hereof, which Sections shall survive the expiration or termination of this Agreement and continue in full force and effect.  Notwithstanding the foregoing, either party may terminate this Agreement, without prior notice, upon material breach of this Agreement by the other party.

11.                            INDEMNIFICATION

The Corporation will indemnify and defend the Consultant , its employees, officers, members, managers and directors, against all costs, charges and expenses, including all amounts paid to settle an action or satisfy a judgement, reasonably incurred by the Consultant in respect of any civil, criminal or administrative action or proceeding to which the Consultants are a party by reason of being or having been engaged by the Corporation under this Agreement (a “Claim”), other than an action (including, without limitation, an action in contract or tort) by the Corporation as a result of a breach or alleged breach by the Consultant of this Agreement or of any duty owed by the Consultant to the Corporation, if:

 

  

5

  

	
  

	
(a)

	
The Consultant acted honestly and in good faith with a view to the best interests of the Corporation; and

	
  

	
(b)

	
In the case of a criminal or administrative action or proceeding that is enforced by the monetary penalty, the Consultant had reasonable grounds for believing that the conduct of the Consultant was lawful.

The Consultant acknowledges that indemnification will be limited to costs, charges and expenses actually incurred, and will be paid only if the Consultant provides the Corporation with prompt notice of any claim.  The Corporation will have the right at its own expense, upon written notice to the Consultant, to assume control of the negotiation, settlement or defence of any Claim and the Consultant will co-operate fully with the Corporation in respect of such Claim.  If the Corporation does not elect to assume control of the negotiation, settlement or defence of any Claim, the Consultant may retain its own counsel to defend the Claim and will keep the Corporation fully advised, including supplying copies of all relevant documentation promptly as it becomes available.  The Consultant or the Corporation may not settle or compromise any Claim without the prior written consent of the other party.

12.           NOTICE

Any notice or communication to be given or made under this Agreement must be in writing and addressed as follows:

	
  

	
(a)

	
if to the Corporation:

Titan Iron Ore Corp.

4320 – 196 Street, S.W., #111

Lynwood, Washington 98036

	
  

	
(b)

	
if to the Consultant:

Kriyah Consultants LLC

3040 N. Campbell Ave, Ste 110

Tucson, Arizona  85719

Attn:     Eric Nadler

Phone: 520-623-3090

Fax:      520-623-3326

Email:   abrodkey@kriyah.com

and will be deemed to be properly given or made on the earliest of the following:

(a)           Actual delivery;

(b)           48 hours after being sent by commercial courier service; and

	
  

	
(c)

	
The day following which any telegram or telecopier message is sent.

  

6

  

 

Notice of change of address for the purpose of notice will also be governed by this section.

13.                           ASSIGNMENT

This Agreement may not be assigned by any party, without the prior written consent of the other parties.

14.                           HEADINGS

The inclusion of headings in this Agreement is for convenience of reference only and is not to affect construction or interpretation.

15.                           INVALIDITY OF PROVISIONS

Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction will, as to that jurisdiction, be ineffective to the extent of the prohibition or unenforceability without invalidating the remaining provisions of this Agreement, and any prohibition or unenforceability of that provision in any other jurisdiction.  For any provision severed there will be deemed substituted a like provision to accomplish the intent of the parties as closely as possible to the provision as drafted, as determined by any court or arbitrator having jurisdiction over any relevant proceeding, to the extent permitted by the applicable law.

16.                           ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the parties pertaining to the subject matter.  There are no warranties, representations or agreements between the parties in connection with the subject matter except as are specifically set out or referred to in this Agreement.  No reliance is placed on any representation, opinion, advice or assertion of fact made by either party or its directors, officers or agents to the other party, or its directors, officers or agents, except to the extent that the same has been reduced to writing and included as a term of this Agreement.  Accordingly, there is to be no liability, either in tort or in contract, assessed in relation to any such representation, opinion, advice or assertion of fact, except to the extent aforesaid.

17.                           WAIVER, AMENDMENT

Except as expressly provided in this Agreement, no amendment or waiver of this Agreement will be binding unless executed in writing by the party to be bound.  The failure of either party at any time to require performance by the other party of any provisions of this Agreement will in no way affect the right of that party to require performance of any other provisions.  No waiver of any provision of this Agreement will constitute a waiver of any other provision nor will any waiver of any breach of any provision of this Agreement be construed as a waiver of any continuing or succeeding breach of such provision unless otherwise expressly provided.

  

7

  

18.                           CURRENCY

All amounts in this Agreement are stated and will be paid in United States currency unless otherwise specifically stated.

19.                           GOVERNING LAW AND VENUE

This Agreement is to be governed by and construed in accordance with the laws of the State of Arizona, without regard to conflicts of laws principles. Each of the Parties irrevocably agrees that any action or proceeding with respect to this Agreement or for recognition and enforcement of any judgment in respect hereof brought by the other Party hereto or its successors or assigns shall be brought and determined in the Superior Courts for Pima County, Arizona, and each of the Parties hereby irrevocably submits with regard to any such action or proceeding for itself and in respect to its property, generally and unconditionally, to the jurisdiction of the aforesaid courts.

IN WITNESS WHEREOF, THE CORPORATION AND THE CONSULTANT HAVE EXECUTED THIS AGREEMENT AS OF THE DATE FIRST WRITTEN ABOVE.

TITAN IRON ORE CORP.

 

	
BY:

	
 
/s/ Jodi Henderson

	  
	  	  	  
	
TITLE:  

	
 
Corporate Secretary

	  
	  	  	  
	  	  	  
	
KRIYAH CONSULTANTS, LLC

	  
	  	  	  
	  	  	  
	
BY:

	
 
/s/ Eric Nadler

	  
	  	  	  
	
TITLE:  

	
 
Member

	  

 

 

8ex10_4.htm

Exhibit 10.4

 

CONSULTING AND PROFESSIONAL SERVICES AGREEMENT

(Independent Contractor)

This CONSULTING AND PROFESSIONAL SERVICES AGREEMENT (the “Agreement”) is entered into as of June 30, 2011, by and between Sage Associates, Inc. (“Consultant”), and Titan Iron Ore Corp. a Nevada corporation (the “Company”).

In consideration of the mutual promises set forth herein, the sufficiency of which is hereby acknowledged by each of the parties hereto, the parties hereby agree as follows:

1.           Consulting Services.  Consultant hereby agrees to provide and perform for the benefit of the Company certain geological advisory services (each individually, a “Service” and collectively, the “Services”), as may be requested by the Company from time to time, and the Company hereby hires and engages Consultant to provide and perform the same. The services are anticipated to be provided by Consultant in Tucson, Arizona and at mining exploration properties owned or controlled by the Company.

 

2.           Fees and Expenses.  For the services hereunder, subject to any applicable regulatory approvals, the Company will pay to Consultant a monthly fee of US$6,000.

 

In addition to any fees that may be payable to Consultant hereunder, the Company will promptly reimburse Consultant from time to time within thirty (30) days of receipt of detailed invoice, for all reasonable travel and other out-of-pocket expenses incurred in performing the services hereunder, which are approved by the Company.

3.           Term of Agreement.  The term of this Agreement shall commence as of the date first set forth above, and are expected to continue through the end of calendar year 2011 and shall automatically renew from year to year unless terminated, and provided further, that nothing contained herein shall in any way prevent the Company from terminating this Agreement earlier at its sole discretion at any time, with or without cause.  If the Company exercises its right to terminate this Agreement, it shall only be obligated to pay Consultant for the fees actually earned by Consultant in performing the Services up to the time that such right of termination is exercised and effective.

4.           Billing for Services.  Consultant shall submit itemized invoices to the Company each month in which services are performed for the fees earned pursuant to this Agreement during the previous month, and for any costs or expenses previously authorized by the Company.  Such invoices shall include a breakdown of the Services provided to the Company, on a project by project and property by property basis, the number of days worked during such time period for such Services, an itemization of all such costs and expenses, and any other information that the Company may request.  The Company shall make payment for all such charges incurred in accordance with the terms of this Agreement and properly reflected in such invoice to the Consultant within ten (10) business days after the receipt of each invoice.

5.           Independent Contractor Status.  The relationship of Consultant to the Company is that of an independent contractor, and nothing herein shall be construed or deemed as creating any other relationship.  Without limiting the foregoing, the relationship between the parties hereto shall not be deemed to be that of an employer-employee, joint venture, or partnership.  As an independent contractor, Consultant shall have the sole responsibility for paying taxes, workers compensation, employee benefits (if any), and all similar obligations, and shall be charged with performing the Services in the way that Consultant deems the most feasible or desirable.

6.           Confidential Information and Work for Hire.  Consultant and the Company hereby acknowledge and agree that in connection with the performance of the Services set forth herein, Consultant shall be provided with or shall otherwise be exposed to or receive certain confidential and/or proprietary information of the Company or of third parties and may develop certain products, services, methods, know-how, procedures, formulae, processes, specifications, and information of a similar nature that relate to the Services rendered hereunder.  Consultant therefore agrees to maintain and preserve the secrecy and confidentiality of any and all proprietary and business secret or confidential information and data.  In the course of performing the Services hereunder Consultant may develop certain processes, formulations, inventions, data, reports, records, information, prototypes, know-how, designs, drawings, schematics, manuals, ideas, or other products or materials, including ideas that may be protectable under intellectual property laws (all of the foregoing collectively referred to herein as “Work Product”).  Consultant acknowledges that all Work Product created by it during the term of this Agreement or which relates to the Services performed hereunder shall be the property of the Company, and Consultant hereby agrees to take all actions requested by the Company in order to vest ownership of the Work Product in them.  Should the Company seek intellectual property protection for any Work Product, Consultant agrees to execute any documents and take any actions reasonably requested by them to effectuate the same, all at no additional cost.

 

  

1

  

 

7.           Audit and Records.  Consultant shall keep accurate records and books of account showing all charges, disbursements, and expenses made or incurred by Consultant in the performance of the Services.  The Company shall have the right, upon reasonable notice, to audit at any time up to one year after payment of its final invoice, the direct costs, expenses, and disbursements made with respect to the performance of the Services.

8.           Title to Materials and Equipment.  All materials and equipment furnished by the Company and all materials and equipment the cost of which shall be reimbursed to Consultant by the Company hereunder are to be and remain the sole property of the Company and are to be returned within thirty (30) days of the expiration or earlier termination of this Agreement, or within ten (10) days after written demand, whichever first occurs.

9.           Assignability.  This Agreement shall be binding upon and inure to the benefit of the parties, their legal representatives, successors, and assigns.  This Agreement may not be assigned, transferred, conveyed, or encumbered, whether voluntarily or by operation of law, by Consultant without the prior written consent of the Company (which may be granted or withheld in its sole and absolute judgment).

10.         Notices, Etc.  All notices, demands, and other communications provided for hereunder shall, unless otherwise stated herein, be in writing (including facsimile or similar transmission) and mailed (by certified mail, return receipt requested), sent, or delivered (including by way of overnight courier service), (i) if to Consultant, to:

 

David Hackman

8120 E Sabino Drive

Tucson, Arizona 85750

 

or (ii) if to the Company, to:

Titan Iron Ore Corp.

4320 – 196 Street, S.W., #111

Lynwood, Washington 98036

or, as to each party, to such other person and/or at such other address or number as shall be designated by such party in a written notice to the other party.  All such notices, demands, and communications shall be effective when sent; provided, however, that if sent by facsimile transmission, notices, demands, and other communications shall be confirmed by same day certified mail, return receipt requested.

11.         Amendments, Etc.  No modification, amendment, or waiver of any provision of this Agreement shall be effective unless the same shall be in writing and signed by each of the parties hereto.  Any waiver of any provision of this Agreement shall be effective only in the specific instance and for the specific purpose for which given.

12.         Entire Agreement.  This Agreement constitutes the entire understanding and agreement between the parties and supersedes all previous understandings, agreements, communications, and representations, whether written or oral, concerning the treatment of information and other matters to which this Agreement relates.

 

  

2

  

 

13.         No Waiver; Remedies.  No failure on the part of any party hereto to exercise, and no delay in exercising, any right, power, or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.  The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

14.         Severability.  Any provision of this Agreement which is prohibited, unenforceable, or not authorized in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition, unenforceability, or non-authorization without invalidating the remaining provisions hereof or affecting the validity, enforceability, or legality of such provision in any other jurisdiction.

15.         Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the state of Arizona.  Each party hereby consents to the laying of venue for any action under this contract with the Superior Court for Pima County, Arizona, and, for such purposes, each of the parties hereby consents to the jurisdiction of such court.

16.         Captions.  The captions contained in this Agreement are for convenience only and shall not affect the construction or interpretation of any provisions of this Agreement.

17.         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 when taken together shall constitute one and the same instrument.  One or more counterparts of this Agreement may be delivered via telecopier with the intention that they shall have the same effect as an original executed counterpart hereof.

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

 

	 	
CONSULTANT

	 	 	 
	
 

	
By: 

	
     /s/ David B. Hackman

	 	 	 
	 	Name:	           David B. Hackman
	 	 	 
	 	 	 

 

	 	
Titan Iron Ore Corp.

	 	 	 
	
 

	
By: 

	
   /s/ Andrew Bodkey

	 	 	 
	 	Its:	   CEO
	 	 	 
	 	 	 

 

 

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}]]