Document:

consltngagrmtarkossh10.7

AGREEMENT 

This Agreement is entered into on the 1 st Day of December, 2001 between California NewsTech Corp., (hereinafter referred to as the "Company") with a principal place of business at 529 Buchanan Street, San Francisco, CA 94102 and John Arkossh Sr. (hereinafter referred to as the "Consultant") with a principal place of business at 3415 Klamath Woods Pl., Concord, Ca 94518. 

                                                                                                                                      1. Witnesses 

WHEREAS, the Company is desirous of engaging Consultant upon certain terms and conditions contained in this Consulting Agreement, one of which is the execution of this agreement by Consultant; 

WHEREAS , Consultant is skilled in corporate development and financial structures for either public or private offerings and has extensive experience in development stage companies; 

WHEREAS, the Company is seeking financing through a private placement and an IPO to implement its business plans and to achieve its strategic goals; 

 

                WHEREAS , the parties are desirous of entering into this CONSULTING AGREEMENT in accordance with the terms and conditions hereinafter set forth. 

NOW THEREFORE , in consideration of the promises and mutual covenants and conditions hereinafter contained, it is hereby agreed as follows: 

 

2. Services of Consultant 

2.1  Consultant shall provide consulting services in the following area: 

2.1.1            Identification and selection of broker dealers and accredited investors to participate in the private placement and IPO financing, 

                2.1.2            Consulting and management activities necessary to insure a successful financing and IPO for the Company, 

                2.1.3            Investor Relations activities and management 

                2.1.4            Corporate financial management activities to insure successful registration with the SEC and NASD. 

 

                                                                                                                                       3. Compensation 

  

               3.1               As compensation for the services to be rendered by the Consultant as outlined above, Consultant shall receive $4,000 per month for a period of 12 months, which shall cover all expenses necessary to perform the functions as outlined above including but not limited to travel, meals and lodging, except for those pre-approved by the Corporation. Consultant understands that the Company has no cash currently and there is a very high risk that the Company will not be able to raise sufficient money and therefore, not be able to pay the above mentioned compensation. 

 

3.2             In addition, Consultant shall act as an Advisor to the Corporation for so long as the Corporation desires, for which services Consultant shall receive 100,000

stock options to purchase shares of Commons Stock of the Company. 50,000 stock options will be exercisable at $0.20/share and 50,000 stock options will be exercisable at $2.00/share and will be granted based on the following: 

 

 

                A.    10, 000 stock options upon the acceptance of this Agreement by both parties,

                B.     40,000 stock options when the private placement is completed successfully,

                C.     50,000 stock options upon the succesfull launch of the IPO.

 

	 
	 	 	 

 

                                                                                                                            4. Term 

The Term of this Agreement is one year (12 months) and shall begin upon execution of this agreement. 

 

                                                                                                        5. Termination 

    5.1       This agreement may be terminated by either party prior to the expiration of the term by 30 days advance written notice of such intentions. 

                                          5.1 .1    No such termination shall effect the receipt of consideration therefore received by the Consultant. 

    

                    5.2       This Agreement shall terminate immedi­ately in the event Consultant fails to timely or properly perform any obligation imposed upon Consultant by this 

                                Agreement. 

 

                    5.3       In the event the Corporation terminates this agreement without reason, Consultant will be granted the 100,000 stock options immediately. 

 

                                                                                                                                       6.  Confidential Information: 

 

All information (pertaining to any of Company's inventions, designs, tools, equipment, unpublished written materials, plans, processes, costs, methods, systems, improvements, or other private or confidential materials) which is obtained by Consultant in the performance of Contractor's work and which is not publicly disclosed by Company shall be considered as confidential and proprietary to Company. 

The terms of Contractor's assignment including the Contractor's compensation and the assignment terms of other Company's employees and the scope of Contractor's work shall be considered confidential. Consultant shall not at any time during or after such employment, disclose such information nor the nature of the service which Consultant renders to Company, except to authorized representative of Company. 

 

                                                                                                                                     7.   Relationship of the Parties: 

 

The parties to this Agreement agree that the relationship created by this Agreement is that of Company-Independent Consultant and that no employer/empoyee relationship by or between the Consultant and the Company is intended by any party. 

 

                                                                                                                                     8.   Consultant Employees: 

 

It shall be the Contractor's responsibility to provide Worker's Compensation insurance and, if applicable, pay any premium "overtime" rate, for its employee who work on the project covered by this Agreement and to make required FICA, FUTA, income tax withholding or other payments related to such employees, and to provide Company with suitable evidence of the same whenever requested. In the event of any claims brought or threatened by any party against the Company related to the status, acts or omissions of Consultant or its personnel, Consultant agrees to cooperate in all reasonable respects , including to support the assertions of Consultant status made in this Agreement. Consultant further agrees to file all necessary personal income tax reports and forms on a timely basis and make all payments due to the appropriate taxing authority. 

 

                                                                                                                                     9.   Right to Supervise: 

 

Consultant shall utilize his own independent judgment and discretion in the performance of the work without supervision or right to supervise or control as to the means and manner including time, location and sequencing of performance by the Company. 

 

                                                                                                                                  10.   Service to Others 

 

Consultant may provide services to others during the term of this Agreement provided that it does not interfere with his obligations and performance hereunder. 

 

                                                                                                                                   11.   Risk of Loss: 

 

Consultant hereby releases Company from any liability relating to representations about the task requirements or to the conditions under which the Consultant will be working. Consultant shall be solely 

 

 

 

	 
	 	 	 

 

 

responsible and liable for the services it provides hereunder and will not look to Company for any indemnification or sharing of risk in the performance of its duties or the resulting work product. 

 

 

                                                                                                                                  12.   Insurance: 

 

Consultant agrees to indemnify and hold Company harmless from any and all liability or expense that Company may incur by reason of bodily injury to any person, or property damage, or both, caused in whole or in part by the acts of the Contractor, its agents, servants and employees while performing work or services pursuant to this Agreement, including reasonable attorney's fees. 

 

                                                                                                                                13.   Entire Agreement: 

 

This Agreement and any attachments or exhibits hereto represent the entire agreement and understanding of the parties and any modification thereof shall not be effective unless contained in writing signed by both parties. Any prior agreements have been merged into this Agreement. 

 

                                                                                                                                14.   Severability: 

 

Each provision of the Agreement shall be considered severable such that if any one provision of clause conflicts with existing or future applicable law, or may not be given full effect because such law, this shall not affect any other provision of the Agreement which can be given effect without the conflicting provision of clause. 

 

                                                                                                                                15.   Right to Assign: 

 

Consultant may not assign its rights under this Agreement or any Purchase Order and may not subcontract its obligations hereunder to others. 

 

                                                                                                                                16.   Conflicts 

 

To the extent that there may be any conflict between the terms of this agreement and any Purchase Order which may be given hereto, this Agreement shall take precedence. 

IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the date first above written. 

Approval: 

California NewsTech Corporation                 Attn: John Arkossh, Sr.

Marian Munz 

By: /s/  Marian Munz                                                                                                                                               By:  /s/  John Arkossh, Sr.

Title: President                                                                                                                                                          Title:  Consultantcontrctagrmtjaspar10.8

	
Independent Contractor Agreement    01/01/02 

 

Independent Contractor Agreement 

Agreement made this First day of January 2002 by and between California News Tech (hereinafter referred to as "Company") and Jaspar & Associates (hereinafter referred to as "Contractor") with its principal place of business at Walnut Creek, California. 

WEHREAS, the Contractor provides services to the general public in an independent capacity; 

WEHREAS, the Company is in the business of software development and sales and Internet advertising and WEHREAS, the Company desires to utilize Contractor services at its own offices and as required, the Contractor's location, it is therefore 

AGREED AS FOLLOWS: 

 

1.   Scope of Services: 

Contractor agrees, pursuant to the terms herein, to provide specialized services as an independent contractor to the Company. The Scope of Services and the Recipient are further defined on the attached Purchase Order which is made a part hereof. 

 

2.   Termination: 

Contractor services under this Agreement will begin and terminate pursuant to the period covered by the Purchase Order and any renewals or extensions thereof. This Agreement shall be for a period of 12 months, commencing on January 1, 2002 and terminating December 31, 2002. However, this Agreement may be terminated by either party on 10 days written notice, unless Contractor commits a breach of this Agreement, at which time this Agreement may be immediately terminated by the Company. 

 

3.    Restrictions: 

During the term of this Agreement, and any renewals thereof, and for twelve (12) months after the expiration of the initial and renewal periods, Contractor agrees that neither it nor any of its personnel will provide or attempt to provide, directly or indirectly, any services to any direct competitor of the Company. 

 

4.    Contractor Representations: 

Contractor represents that all information provided by it including, but not limited to, the resume, interview and references are true, accurate and complete; the Contractor is not restricted by any employment or other contractor agreement; it has all the skills and training necessary to perform the services required by this Agreement; and Contractor has and maintains books and records which reflect items of income and expenses of its trade or business and offers its services to third parties. Contractor makes these representations with the knowledge that the Company will rely on the representations. In addition to any other remedies the Company may have, it may terminate this Agreement in the event of any misstatement or misrepresentation. 

 

5.     Payment Terms: 

Payment will be $3,000.00/monthly. In addition Contractor will receive 25,000 stock options exercisable at $0.80/share of the Corporation's common stock. The Stock Options will be granted equally on a monthly basis over the 12 months initial period, vesting immediately. 

 

6.   Expenses: 

Unless previously authorized by the company, no travel, living, training, entertainment or expenses other than a cellular phone and DSL Internet/email connection shall be reimbursed by the Company. 

 

7.     Confidential Information: 

All information (pertaining to any of Company's inventions, designs, tools, equipment, unpublished written materials, plans, processes, costs, methods, systems, improvements, or other private or confidential materials) which is obtained by Contractor in the performance of Contractor's work and which is not

 

 

	 
	 	 	 

 

 

 publicly disclosed by Company shall be considered as confidential and proprietary to Company. The terms of Contractor's assignment, including the Contractor's compensation and the assignment terms of other Company's employees and the scope of Contractor's work shall be considered confidential. Contractor shall not at any time during or after such employment, disclose such information nor the nature of the service which Contractor renders to Company, except to authorized representative of Company. 

 

8.    Relationship of the Parties: 

The parties to this Agreement agree that the relationship created by this Agreement is that of Company-Independent Contractor and that no employer/empoyee relationship by or between the Contractor and the Company is intended by any party. 

 

9.    Contractor Employees: 

It shall be the Contractor's responsibility to provide Worker's Compensation insurance and, if applicable, pay any premium "overtime" rate, for Contractor's employees who work on the project covered by this Agreement and to make required FICA, FUTA, income tax withholding or other payments related to such employees, and to provide Company with suitable evidence of the same whenever requested. In the event of any claims brought or threatened by any party against the Company related to the status, acts or omissions of Contractor or its personnel, Contractor agrees to cooperate in all reasonable respects , including to support the assertions of Contractor status made in this Agreement. Contractor further agrees to file all necessary income tax reports and forms on a timely basis and make all payments due to the appropriate taxing authority. 

 

10.   Right to Supervise: 

Contractor shall utilize his own independent judgment and discretion in the performance of the work without supervision or right to supervise or control as to the means and manner including time, location and sequencing of performance by the Company. 

 

11.   Service to Others 

Contractor may provide services to others during the term of this Agreement provided that it does not conflict with his obligations and performance hereunder. 

 

12.   Insurance: 

In addition to any other insurance required by this Agreement, Company will obtain for itself and its key personnel, at its own expense, Comprehensive General Liability insurance coverage for directors, officers and key staff as covered by this Agreement, for limits of liability and terms reasonably satisfactory to the Company, but not less than $1.0 million. Company and Contractor agrees to mutually indemnify and hold harmless each other from any and all liability or expense that either party may incur by reason of bodily injury to any person, or property damage, or both, caused in whole or in part by the acts of the other party, its agents, servants and employees while performing work or services pursuant to this Agreement, including reasonable attorney's fees. Contractor agrees to indemnify Company against any amount that Company may ultimately have to pay due to Contractor's failure to timely file Contractor's tax returns or information or pay the proper amount of income taxes and related payroll costs to any appropriate taxing authority. 

 

13.   Cost of Suits: 

If Company is successful in recovering damages or obtaining injunctive relief, Contractor agrees to be responsible for paying all of Company's expenses in seeking such relief, including all costs of bringing suit and all reasonable attorneys' fees. If Contractor is successful in recovering damages or obtaining injunctive relief, Company agrees to be responsible for paying all of Contractor's expenses in seeking such relief, including all costs of bringing suit and all reasonable attorneys' fees 

 

14.   Entire Agreement: 

This Agreement and any attachments or exhibits hereto represent the entire agreement and understanding of the parties and any modification thereof shall not be effective unless contained in writing signed by both parties. Any prior agreements have been merged into this Agreement. 

 

 

	 
	 	 	 

 

 

15.   Severability: 

Each provision of the Agreement shall be considered severable such that if any one provision of clause conflicts with existing or future applicable law, or may not be given full effect because such law, this shall not affect any other provision of the Agreement which can be given effect without the conflicting provision of clause. 

 

16.   Right to Assign: 

Contractor is to provide services through it personnel named in the Purchase Order, for whom it is responsible, and may not assign its rights under this Agreement or any Purchase Order and may not subcontract its obligations hereunder to others. 

 

17.   Conflicts 

To the extent that there may be any conflict between the terms of this agreement and any Purchase Order which may be given hereto, this Agreement shall take precedence. 

IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the date first above written. 

Approval: 

California News Tech                Jaspar & Associates 

a Nevada Corporation                

By:  /s/  Marian Munz               By: /s/   Robert C. Jaspar 

      Marian Munz                                                                                                                              Robert C. Jaspar 

Title: President                                                                                                                                   Title: Principal

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