Document:

Exhibit 10.4

 

Amended and Restated Consulting Services
Agreement

 

THIS AMENDED AND RESTATED CONSULTING SERVICES
AGREEMENT is entered into as of March 28, 2017, by and between SMG Indium Resources Ltd., a Delaware corporation (the “Company”),
and Brack Advisors LLC (“Consultant”).

 

Background

 

The Company and the Consultant entered into
a certain Consulting Services Agreement dated January 11, 2016 (the “Prior Agreement”), and now desire to amend and
restate the Prior Agreement as set forth hereunder.

 

The Company wishes to obtain the services
of Consultant for certain purposes, and Consultant wishes to provide such services, all subject to the terms and conditions of
this Agreement.

 

NOW, THEREFORE, in consideration of the
mutual promises hereinafter set forth, and intending to be legally bound, the Company and Consultant hereby agree as follows:

 

1.       Services
to Be Provided. During the term of this Agreement, Consultant shall perform for the Company the services described on Exhibit
A attached hereto and made a part hereof (the “Services”).

 

2.       Term.
The initial term of this Agreement shall be described on Exhibit A attached hereto and made part hereof (“Term”).

 

3.       Compensation;
No Benefits.

 

(a)       The
compensation for Consultant’s performance of the Services to be performed by Consultant under this Agreement is specified
in Exhibit A attached hereto.

 

(b)       Consultant
is not an employee of the Company and will not be entitled to participate in or receive any benefit or right as a Company employee
under any Company employee benefit and pension plans, including, without limitation, employee insurance, pension, savings and security
plans, as a result of entering into this Agreement. Consultant is responsible for all income taxes, employment taxes and workers’
compensation insurance associated with the compensation received under this Agreement and agrees that the Company will not withhold
or pay any of the foregoing in connection with Consultant’s services to the Company hereunder.

 

4.       Independent
Contractor; Performance. For purposes of this Agreement and all Services to be provided hereunder, Consultant shall not be
considered a partner, co-venturer, agent, employee or representative of the Company, but shall remain in all respects an independent
contractor, and neither party shall have any right or authority to make or undertake any promise, warranty or representation, to
execute any contract, or otherwise to assume any obligation or responsibility in the name of or on behalf of the other party. The
Consultant shall provide the Services in compliance with all applicable laws, and without limiting the foregoing, confirms to the
Company that (a) it will not take any action in performing the Services that would cause it to be required to register as (i) a
broker as defined in Section 3(a) (4) of the Securities Exchange Act of 1934 or (ii) an investment adviser as defined in Section
202(a)(11) of the Investment Adviser Act of 1940, or (iii) as a broker or dealer or adviser or agent or similar concept in any
state in which the Company offers securities as part of a Qualified Financing; and (b) it is not acting in any such capacities
for or on behalf of the Company.

 

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5.       Confidentiality.
The Consultant shall not disclose any confidential information relating to the business and financial affairs of the Company to
any person or entity other than authorized employees of the Company, or use the same for any purposes (other than as necessary
in the performance of the Consultant’s duties as an independent contractor for the Company) without written approval by an
officer of the Company. “Confidential Information” includes, without limitation, all information of a private, secret
or confidential nature, whether or not in written form, relating to the Company’s business and financial affairs and the
business and financial affairs of the Company’s clients, and which has not been made available to the general public by the
Company, including without limitation, inventions, trade secrets, processes, techniques, formulas, compositions, computer programs,
system and component designs, specifications, computer software, technical or non-technical data, financial data (including profits,
sales costs and price information), personnel data, personnel files, pricing strategies, lists or knowledge of actual or potential
clients, customers, and suppliers, or any marketing or product information. The Consultant agrees not to use any such Confidential
Information other than as authorized, for the benefit of the Company. The Consultant shall use reasonable care to safeguard from
loss or misapplication all Confidential Information which comes into such Consultant’s possession or control.

 

6.       Termination.
Notwithstanding the provisions of Section 2, the Company may terminate this Agreement (a) for any reason whatsoever upon thirty
(30) days’ prior written notice to Consultant, and (b) immediately upon written notice to Consultant, if any of the Services
is performed or is being performed in an unsatisfactory manner, as determined by the Company in its discretion. Within five (5)
days after any termination of this Agreement, Consultant shall deliver to the Company all Work Product resulting from the performance
of the Services.

 

7.       No
Conflicting Agreements; Nonexclusive Engagement.

 

(a)       Consultant
will not enter into any agreement that is in conflict with Consultant’s obligations under this Agreement. Subject to the
foregoing, Consultant may from time to time act as a consultant to, perform professional services for, or enter into agreements
similar to this Agreement with other persons or entities without the necessity of obtaining approval from the Company.

 

(b)       The
Company may from time to time (i) engage other persons and entities to act as consultants to the Company and perform services for
the Company, including services that are similar to the Services, and (ii) enter into agreements similar to this Agreement with
other persons or entities, in all cases without the necessity of obtaining approval from Consultant.

 

8.       Return
of Company Property. Except as otherwise expressly provided in Section 6, promptly upon the expiration or termination of this
Agreement, or earlier if requested by the Company, Consultant shall deliver to the Company (and will not keep in Consultant’s
possession or deliver to anyone else) all Confidential Information.

 

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9.       Arbitration
and Equitable Relief.

 

(a)       Arbitration.
Except as provided in Section 9(b) below, Consultant and the Company agree that any dispute or controversy arising out of or relating
to any interpretation, construction, performance or breach of this Agreement shall be settled by final and binding arbitration
in accordance with the commercial arbitration rules of the American Arbitration Association (“AAA"). The arbitration
will be conducted in New Jersey by one arbitrator. The decision of the arbitrator will be final and binding upon the parties hereto,
and may be entered in any competent court for judicial acceptance of such an award and order of enforcement. The proceedings will
be conducted and all documentation will be presented in English. Where the rules of the AAA are silent, the laws of the New York,
including procedural and evidentiary laws and rules, will control. The award will be rendered within sixty (60) days of the conclusion
of the arbitration hearing. The arbitrator may grant injunctions or other relief in such dispute or controversy.

 

(b)       Equitable
Remedies. Consultant agrees that it would be impossible or inadequate to measure and calculate the Company’s damages
from any breach of the covenants set forth in Section 8 of this Agreement. Accordingly, Consultant and the Company agree that if
Consultant breaches or is accused of breaching any of such covenants, the Company will have available, in addition to any other
right or remedy available, the right to seek an injunction from a court of competent jurisdiction restraining such breach or threatened
breach and to order specific performance of any such provision of this Agreement, and Consultant will have available the right
to seek declaratory relief from a court of competent jurisdiction regarding such alleged breach or threatened breach. Consultant
further agrees that no bond or other security shall be required in obtaining such equitable relief and Consultant hereby consents
to the issuance of such injunction and to the ordering of such specific performance.

 

10.       Entire
Agreement; Amendment and Assignment. This Agreement is the sole agreement between Consultant and the Company with respect to
the Services to be performed hereunder and supersedes all prior agreements and understandings with respect thereto, whether oral
or written. No modification to any provision of this Agreement shall be binding unless in writing and signed by both Consultant
and the Company. No waiver of any rights under this Agreement will be effective unless in writing signed by the party to be charged.
All of the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective
heirs, executors, administrators, legal representatives, successors and assigns of the parties hereto, except that the duties and
responsibilities of Consultant hereunder are of a personal nature and shall not be assignable or delegable in whole or in part
by Consultant.

 

11.       Governing
Law. Except as otherwise provided in Section 9, this Agreement shall be governed by and interpreted in accordance with the
laws of the State of Delaware, without giving effect to any conflict of laws provisions.

 

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12.       Indemnification.
The Consultant agrees to indemnify, defend and hold harmless the Company, its subsidiaries, affiliates, officers, members, shareholders,
directors, employees, representatives, attorneys, agents, successors and assigns, from any and all losses, allegations, liabilities,
claims, costs, damages and expenses (including reasonable attorneys’ fees) (collectively, “Claims”) arising from,
related to or connected with (i) the provision of Services hereunder, (ii) any act or omission of the Consultant, its employees
and agents, (iii) the employment of the Consultant’s personnel, including, without limitation, Claims concerning employment
discrimination, and wage and hour, medical leave and/or labor law violations, including, without limitation, death at any time
resulting therefrom, sustained by any employee of the Consultant while engaged in the performance of the Services under this Agreement;
and (iv) any alleged or actual violation of a federal, state or local statute or regulation.

 

13.       Notices.
All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be
in writing and shall be deemed to have been given when hand-delivered, sent by facsimile or mailed by registered or certified mail,
as follows (provided that notice of change of address shall be deemed given only when received):

 

If to the Company, to:

 

SMG Indium Resources Ltd.

176 LaGuardia Avenue.

Staten Island, New York 10314

 

 

If to Consultant, to:

 

Brack Advisors LLC

705 Stephanie Court

Forked River, New Jersey 08731

Attn: Richard A. Biele

 

or to such other names or addresses as the Company or Consultant, as the case may be, shall designate by notice to each other person
entitled to receive notices in the manner specified in this section.

 

14.       Counterparts.
This Agreement shall become binding when any one or more counterparts hereof, individually or taken together, shall bear the signatures
of Consultant and the Company. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be
an original, but all of which together shall constitute one and the same instrument.

 

15.       Severability.
If any provision of this Agreement or application thereof to anyone or under any circumstances is adjudicated to be invalid or
unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application of this
Agreement that can be given effect without such invalid or unenforceable provision or application in any other jurisdiction.

 

[Signature Page
Follows]

 

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IN WITNESS WHEREOF, the undersigned, intending
to be legally bound, have duly executed this Agreement as of the date first above written.

 

	 	SMG INDIUM RESOURCES LTD.
	 	 	 
	 	By:	/s/ Ailon Z. Grushkin
	 	Name:	Ailon Z. Grushkin
	 	Title:	Chief Executive Officer
	 	 	 
	 	CONSULTANT
	 	 
	 	By:	/s/ Richard A. Biele
	 	Name:	Richard A. Biele
	 	Title:	Member

 

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Exhibit A

 

Description of Services; Compensation

 

1.     Services

 

Consultant shall assist the Company in
identifying and negotiating strategic transactions for the Company. 

 

2.     Term 

 

The term shall commence on January 1,
2017 and shall continue until December 31, 2017 and shall thereafter renew for successive one year terms unless otherwise terminated
by either party in accordance herewith.

 

3.     Fee Schedule

 

The Consultant will provide the temporary
labor services at the rate of $25,000 for 2017. The Consultant will invoice the Company at the end of the first and second fiscal
quarters of 2017. The Company will pay any undisputed invoices within thirty (30) days of receipt. Each invoice shall be submitted
in a format reasonably acceptable to the Company. At the end of each working day, the Consultant shall submit a report containing
such information as the Company shall reasonably request. 

 

    6Exhibit 10.1

LOAN AGREEMENT

THIS LOAN AGREEEMENT (the "Agreement") is made and entered into as of the 21 day of March 2017, by and between ActiveCare, Inc., a Delaware corporation having an address at 1365 West Business Park Drive, Suite 100, Orem, Utah 84058 (the "Borrower"), and Jeff Greene, having an address at 135 Stanley Farm Road, Kernersville, North Carolina 28645 (the "Lender").

WHEREAS, the Lender and Borrower desire to create a Loan Agreement to reflect such lending.

NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower and the lender agree as follows.

 

TERMS

1. Loan. The Lender hereby agrees to make loans to the Borrower in the maximum aggregate principal amount of Three Hundred Thousand Dollars ($300,000.00) (the "Loan").  The term "Loan Documents", as used herein, shall mean this Agreement and any documents related to the transaction provided for in this Agreement. All amounts advanced hereunder shall be repaid, with interest and applicable fees thereon as provided in this Agreement, by 5:00 PM on June 15, 2017.

2. Advances. The proceeds of advances hereunder may be used to finance the working capital needs of the Borrower.

3. Interest. All sums advanced pursuant to this Agreement after the date hereof shall bear interest from the date each advance is made until paid in full at an interest rate equal 12.75% per annum.

4. Subordination. Such loan shall be subordinate to the Term Loan and Line of Credit put forth by Partners for Growth IV, L.P. on February 19, 2016.

5. Fees. Lender shall be paid a closing fee equal to $3,000.00 with a back-end kicker of $50,000.00 for each 30 days that the loan is outstanding.

6. Conditions Precedent. The Lender shall not be required to make any advance hereunder unless and until:

(a) All of the documents required by the Lender have been duly executed and delivered to the Lender and shall be in full force and effect.

(b) The representations and warranties contained in this Agreement are then true with the same effect as though the representations and warranties had been made at such time. The request for an advance by the Borrower shall constitute a representation and warranty by it to the Lender that all of the conditions specified herein exist as of that time.

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(c) There are no existing conditions events, or acts which constitute a default hereunder, or with the passing of time or giving of notice would constitute a default hereunder.

7. Representations and Warranties. In order to induce the Lender to enter into this Agreement and to make the advances provided for herein, the Borrower represent and warrants to the Lender as follows:

(a) The Borrower is a Delaware corporation duly organized, validly existing, and in good standing under the laws of the State of Delaware with the power to own its assets and to transact business in Utah.

(b) The Borrower has the authority and power to execute and deliver any document required hereunder and to perform any condition or obligation imposed under the terms of such documents.

8. Affirmative Covenants. So long as any amounts due hereunder remain unpaid, the Borrower covenants and agrees that it shall do the following:

(a) The Borrower shall furnish the Lender with such financial statements, balance sheets, and profit and loss statements as the Lender may require. In that connection, the Borrower shall provide such information, which includes the following (i) within thirty (30) days after the close of the second quarter of the Borrower's fiscal year, a financial statement, (ii) within thirty (30) days after the close of the Borrower's fiscal year, a financial statements, and (iii) within sixty (60) days of the end of a calendar year or the date of filing, as the case may be, the Borrower's tax returns and accompanying schedules.

(b) The Borrower shall keep proper books of records and accounts in which full, true, and correct entries will be made of all dealings or transactions relating to its business and activities.

 

9. Events of Default. An event of default shall occur if any of the following events shall occur:

(a) Failure to pay any principal or interest hereunder within the ten (10) days after the same becomes due.

(b) Any representations or warranty made by the Borrower in this Agreement or in connection with any borrowing or request for an advance hereunder or in any certificate, financial statement, or other statements furnished by the Borrower to the Lender is untrue in any material respect at the time when made.

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(c) Default by the Borrower in the observance or performance of any of the covenants or agreements contained in this Agreement.

(d) Default by the Borrower in the observance or performance of any other covenant or agreement contained herein and the continuance of the same unremedied for a period of thirty (30) days after notice thereof is given to the Borrower.

(e) Any of the documents executed and delivered in connection herewith shall for any reason cease to be valid or in full force and effect.

10. Remedies. Upon default by the Borrower as defined in Paragraph 9, above, the Lender may declare the entire unpaid principal balance, together with accrued interest thereon, to be immediately due and payable without presentment, demand, protest or other notice of any kind. The attorney's fees, including such expense incurred before legal action or bankruptcy proceedings, during the pendency thereof and continuing to all such expenses in connection with any appeal to higher courts arising out of matters associated herewith shall be paid by the borrower.

12. Miscellaneous Provisions

(a) Notices. All demands, notices, and other communications to be give hereunder, if any, shall be in writing and shall be sufficient for all purpose if personally delivered, sent by facsimile, sent by nationally-recognized courier service, or if sent by registered or certified United States mail, return receipt requested, postage prepaid, and addressed to the respective party at the postal address set forth below or to such other address or addresses as such party may hereafter designate in writing to the other party as herein provided. The present addresses of the parties hereto are as follows:

 

If to the Borrower:

ActiveCare, Inc.

13654 West Business Park Drive

Suite 100

Orem, UT 84058

If to the Lender:

Jeff Greene

135 Stanley Farm Road

Kernersville, North Carolina 28645

 

If personally delivered, notice under this Agreement shall be deemed to have been given and received and shall be effective when personally delivered. Notice by facsimile and nationally recognized courier service shall be deemed to have been given when received. Notice by mail shall be deemed effective and complete two (2) days after deposit in the United States mail.

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(b) Blinding Agreement. This Agreement shall be binding upon and inure to the benefit of the respective parties hereto, their heirs, legal representatives, successors, and assigns.

(c) Entire Agreement. This Agreement contains the entire agreement between the parties. No promise, representation, warranty, or covenant not included in this Agreement has been or is relied upon by either party.

(d) Interpretation. Unless otherwise provided, all terms shall have the meaning given them in the ordinary English usage and as customarily used. Words in any gender shall include both other genders. Whenever the context requires, the singular shall include the plural, the plural shall include the singular, and the whole shall include any part thereof.

(e) Time of Essence. It is expressly stipulated and agreed that time shall be of the essence of this Agreement.

(f) Invalidity. The invalidity or unenforceability of any particular provision of this Agreement shall not effect the other provision hereof, and the Agreement shall be construed in all respects as if such invalid provision were omitted.

(g) Headings. The paragraph and other headings contained in this Agreement are for purposes of reference only shall not limit, expand, or otherwise affect the construction of any of the provisions of this Agreement.

(h) Counterparts. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be deemed to be an original, and all of which shall together constitute one and the same instrument.

(i) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Utah as applied to agreements made and wholly performable in Utah between Utah residents.

(j) Facsimile Signatures. The parties hereto agree that transmission to the other party of this Agreement with its facsimile signatures shall bind the party transmitting this Agreement by facsimile in the same manner as if such party's original signature had been delivered. Without limiting the foregoing, each party who transmits the Agreement with its facsimile signature covenants to deliver the original thereof to the other party as soon as possible thereafter.

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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first above written by the respective officers duly authorized on their behalf.

 

	
Borrower:

	
ACTIVECARE, INC.

	 	
A Delaware Corporation

	 	 
	 	 
	 	
By /s/ Jeffrey Peterson

	 	
Jeffrey Peterson, CEO

	 	 
	 	 
	
The Lender:

	
JEFF GREENE

	 	 
	 	
/s/ Jeff Greene

 

 

 

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