Document:

ex_124475.htm

Exhibit 10.1

 

J SQUARED PARTNERS. INC.

DBA ‘GLOBAL IR GROUP’

2931 Ridge Road

Suite 101-MB140

Rockwall, TX 75032

 

PROFESSIONAL SERVICES AGREEMENT

 

J SQUARED PARTNERS, INC. (“Consultant”) and ISORAY MEDICAL, INC. (“Client”) hereby agree that Consultant will provide investor relations services to Client on the terms set forth below (“Professional Services Agreement”) for a period of six (6) months,

 

1.     Effective Date. This Professional Services Agreement is effective August 15, 2018 and will automatically renew, unless notice is given per the terms in paragraph nine (9) hereof, at least sixty (60) days ahead of the expiration of the agreement.

 

2.     Nature and Scope of Services. Client hires Consultant to provide investor relations services (“IR Services’) on behalf of Client, including without limitation strategic counsel; editorial commentary on press releases and investor presentations; interfacing with industry analysts, investors and shareholders; advisement on Client analyst day events; conducting Client site tours; attending within reason industry conferences and investor events; and such other services as Client may request from time to time. Consultant will interface and communicate with those representatives of Client as designated from time to time by Client.

 

3.     Client’s Duties. Client understands that Consultant will rely upon the materiality and accuracy of the information provided by Client, including without limitation investor information, SEC filings, fiscal reports, accountings, projections, and other regulatory and financial information. Client agrees to use its best efforts to ensure the accuracy of all information provided to Consultant with the express understanding that Consultant will use such information in the performance of the IR Services, including without limitation the dissemination thereof to investors, analysts, industry trade groups, and members of the public. Client acknowledges that the accuracy of the information disseminated to Consultant is critical to the proper performance of the IR Services, and inaccurate information could impose legal liabilities on Consultant even in Consultant’s proper discharge of the IR Services. Consequently, Client agrees to defend, indemnify and hold Consultant harmless from and against any and all allegations, losses, claims, actions, demands, damages, liabilities or expenses (including attorney’s fees) arising from or relating to inaccuracies, omissions, or other deficiencies of any nature whatsoever in the information provided to Consultant.

 

4.     Professional Service Fees. Client agrees to pay Consultant a fixed monthly stipend of $10,000.00 (“Stipend”) for the performance of the IR Services. The Stipend does not cover costs and other charges identified in paragraph five (5) hereof. The Stipend shall be due and paid via direct deposit on the fifteenth of the month for each month or part thereof of this Professional Services Agreement, and Consultant shall deliver to Client a billing statement each month in accordance with paragraph six () for all expenses incurred hereof.

 

Success Fee Milestones: Client agrees to pay Consultant a “Success Fee” of $5,000.00 for each sell-side tirm that initiates research coverage on IsoRay.

 

Additional fees Consultant services do not include activities specifically related to “Mergers”. “Acquisitions”, “Spin-offs”, “Divestitures” or “Financing Activities” with a value in excess of S3 million. Work related to these activities will be billed incrementally at the rate of $350.00 per hour.

 

 

 

 

Should this contract be terminated by either party, all compensation will be prorated based on the termination date and paid to Consultant.

 

5.     Costs and Other Charges. Consultant may incur various costs and expenses in performing the IR Services. Client agrees to pay for all costs, disbursements and expenses in addition to the Stipend. The costs and expenses commonly include without limitation travel costs, hotel costs, printing, and other similar items. Consultant will seek the consent of Client before incurring any expenses in excess of $1,000.00 and all costs and expenses will be charged at Consultant’s actual cost.

 

6.     Billing Statements. Upon request, Consultant will send Client monthly statements for the Stipend plus additional costs incurred, if any. Each statement will be payable within 14 days of its mailing date.

 

7.     Termination. Either Client or Consultant may terminate this Professional Services Agreement upon thirty (30) days written notice with or without cause. Upon notification of termination of this Professional Services Agreement by Client to Consultant the “Stipend” for the thirty (30) day period will be due and payable within five (5) days. When Consultant’s services conclude, any additional charges incurred will immediately become due and payable.

 

8.     Disclaimer of Guarantees and Estimate of Fees. Consultant will strive to provide quality IR Services for Client. Client has not, and reasonably cannot, guarantee any particular result in the handling of Client’s matters, as the ultimate outcome of Consultant’s services are influenced by the market and other forces outside of the direct control of Consultant. Consultant will endeavor to explain the potential ramifications associated with decisions made in the course of rendering the IR Services, however, any comments concerning the outcome of any matter are expressions of Consultant’s opinion only. Consultant will strive to provide cost-effective IR Services for Client and may provide Client with estimates for extraordinary services and associated costs outside the scope of the IR Services Stipend Any estimate of such fees given by Consultant shall not be a guarantee, and actual costs may vary from estimates given.

 

9.     Notices. All notices and other communications called for or contemplated hereunder shall be in wnting and shall be deemed to have been duly given when delivered personally or three (3) calendar days after the dated and mailed by First Class United States Mail, postage prepaid, addressed to the parties or their successor in interest at the following address or such other addresses as the parties may designate from time to time.

 

	 	
			If to Client:

				
			Lori Woods

			IsoRay Medical, Inc

			350 Hills Street

			Suite 106

			Richland, WA 99354

			
	 	 	 
	 	If to Consultant:	
			Gar Jackson

			J Squared Partners

			2931 Ridge Road

			Suite 101-1V1B140

			Rockwall, TX 75032

			

 

10.     Entire Agreement. This Professional Services Agreement contains the entire agreement of the parties. No other agreement, statement, or promise made on or before the effective date of this Agreement will be binding on the parties.

 

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11.     Negotiated Agreement. This Professional Services Agreement, in its final form, is the result of the combined efforts of the parties hereto and that should any provision of this Professional Services Agreement be found to be ambiguous in any way, such ambiguity shall not be resolved by construing this Professional Services Agreement in favor of or against any party herein but rather by construing the terms of this Professional Services Agreement fairly and reasonably in accordance with their generally accepted meaning and the purposes for which this Professional Services Agreement is made.

 

12.     Severability in the Event of Partial Invalidity. If any provision of this Professional Services Agreement is held in whole or in part to be unenforceable for any reason, the remainder of that provision and of the entire Professional Services Agreement will be severable and remain in effect.

 

13.     Modification by Subsequent Agreement. This Professional Services Agreement may be modified by subsequent agreement of the parties only by an instrument in writing signed by both of them.

 

14.     Counterparts. This Professional Services Agreement may be signed in counterparts, and signatures transmitted by facsimile or scanned electronic copies of the parties’ signatures are permitted and are deemed effective.

 

	
			 

				ISORAY MEDICAL, INC.	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Lori A. Woods

				
			 

			
	
			 

				
			 

				Lori Woods, Interim CEO	
			 

			

 

	
			 

				J SQUARED PARTNERS, INC.	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Gar Jackson

				
			 

			
	
			 

				
			 

				
			Gar Jackson, President

				
			 

			

 

 

3ex_124476.htm

Exhibit 10.2

 

SCHULTZ PUBLIC RELATIONS, LLC

Services AGREEMENT

 

This Agreement (“Agreement”) is made between Schultz Public Relations, LLC, a Delaware Limited Liability Company (“SPR”) and, IsoRay Medical, Inc. (“Corporation” or “Client”), with respect to the following:

 

RECITALS

 

WHEREAS, SPR is in the business of providing public relations and media relations/communications services to privately held and publicly held corporations; and

 

WHEREAS, the Client is a legal corporation, and wishes to retain the services of SPR the following Agreement is offered.

 

AGREEMENT

 

CONSIDERATION of the mutual promises made by SPR and the Client, and the terms and conditions hereafter set forth, the receipt and adequacy of such consideration being mutually acknowledged, SPR and the Client therefore agree to the following:

 

	
			1.

				
			TERM AND TERMINATION:

			

 

The initial term of this agreement shall be for a twelve-month period commencing on August 15th, 2018. This agreement will automatically renew every six months following the initial contract period absent any other action. Contract may be cancelled by either party by providing a 90-day written notice of intent to terminate. In the event of notification of intent to terminate, payment will immediately be due for any outstanding invoices including expenses and payment will continue for the 90-days prior to date of termination. In the event of nonpayment, the cost of collection, including attorney fees and the cost of time spent by SPR seeking payment, shall be borne by Client.

 

	
			2.

				
			Public Relations Services

			

 

As requested by Client, Schultz Public Relations, LLC will provide the following services.

 

	 	
			1.

				
			Support of message development in concert with marketing, investor relations, and C-suite

			

 

	 	
			2.

				
			Writing of press releases with input from C-suite and additional parties as appropriate

			

 

	 	
			3.

				
			Media relations

			

 

	 	
			A.

				
			Provision of Information

			

 

	 	
			1.

				
			SPR will utilize and disseminate information based on the information provided by Client and Client directed staff and consultants. Client maintains responsibility and accountability for the accuracy of information provided to SPR.

			

 

	 	
			2.

				
			Ability to create media opportunities is predicated on provision of viable content by Client for story development.

			

 

 

 

 

	
			3.

				
			Fees

			

 

A monthly retainer in the amount of $5,000 per month will be paid for the defined services. SPR will provide a monthly invoice for expenses and retainer. Any services and work product requested outside the defined scope of work will be considered in discussion with Client and if agreed to will be billed at a rate of $250 per hour or a per project task fee.

 

	 	
			A.

				
			Client will be billed for vendor services and supplies including, but not limited to, press release distribution services, press release and interview tracking and acquisition of clippings/dubs of interviews, camera crews, editing services, print services, DVDs, and any other expenses incurred in behalf of the client. Expenses will be documented. No mark-up or additional charges will be added to any of these services.

			

 

	 	
			B.

				
			Client agrees to pay all travel costs including airfare, ground transportation, mileage, lodging, meals and related expenses incurred by SPR for Client business initiatives and efforts.

			

 

a.            Retainer payment of $5,000 per month for services rendered is due in accordance with the date of services commencement. First retainer payment is due upon execution of contract.

 

b.             LATE PAYMENTS

 

There will be a 5% monthly late charge assessed after 10 business days elapse without payment of invoice for retainer and expenses and all work will cease until payment is received. Invoice for retainer and expenses will be delivered to Client by email.

 

	 	
			C.

				
			EXTENSIONS AND RENEWALS: This Agreement may be extended “Extension Period”) upon mutual agreement,

			

 

	
			4.

				
			Confidentiality

			

 

	 	
			A.

				
			CONFIDENTIAL INFORMATION

			

 

	 	
			1.

				
			“Confidential Information” shall include but is not limited to SPR’s personal and professional contacts and any and all reports, guidebooks, training manuals, and tip sheets prepared by SPR.

			

 

	 	
			2.

				
			Client agrees not to use any of SPR’s confidential information for its own uses or purpose except to carry out discussions or a business understanding between Client and SPR.

			

 

	 	
			3.

				
			Client agrees not to disclose any of SPR’s confidential information to any third party and, and that they will take all reasonable and proper measures to protect the secrecy of and avoid disclosure or use of SPR’s confidential information.

			

 

2

 

 

	
			5.

				
			Remittance Failure and Breaches

			

 

B.          FAILURE TO REMIT PAYMENT: The continued lack of payment by Client to SPR for a period of 30 continuous days pursuant to Section 1(C) shall be considered a breach of this Agreement and shall, at SPR’s option, be valid grounds to terminate this Agreement.

 

C.         COSTS DUE UPON BREACH: Notwithstanding the breach of this Agreement by Client, SPR shall be entitled to receipt of all fees, hard costs, compensation and expenses incurred for actual work performed, time spent seeking payment, and legal fees associated with recovery of outstanding debt.

 

	
			6.

				
			CONTROLLING LAWS OF AGREEMENT:

			

 

	 	
			A.

				
			BEST EFFORTS BASIS: SPR agrees that it will at all times faithfully, to the best of its experience, ability and talents, perform all the duties that may be required of and from SPR pursuant to the terms of this Agreement. Client understands and acknowledges that the success or failure of SPR’s efforts will be predicated on Client’s performance, assets, sales, operating results and management decisions.

			

 

	 	
			B.

				
			BINDING LAW: This Agreement shall be subject to all valid applicable laws, rules and regulations of the State of Delaware and of the United States. In the event that this Agreement, any of its provisions, or its outlined operations are found to be inconsistent with or contrary to any such laws, rules or regulations, the latter shall control. Furthermore, if commercially practicable, this Agreement shall be considered modified accordingly and shall continue in full force and effect as so modified.

			

 

	 	
			1.

				
			In the event of dispute resolution, disputes, differences, or controversies shall be heard in the venue of the State of Delaware as designated by SPR.

			

 

	 	
			C.

				
			ENTIRE AGREEMENT: This Agreement supercedes and replaces any and all agreements, whether oral or in writing, and shall constitute the entire Agreement between the parties unless modified by a written amendment signed by all of the parties or their successors in interest. There are no other Agreements, undertakings, restrictions, representations or warranties among the parties other than those described and provided for in this Agreement and expressly signed by the parties therein.

			

 

	 	
			D.

				
			WAIVER; Client agrees that SPR’s failure to enforce any provision or provisions of this Agreement shall not in any way be construed as a waiver of that provision or provisions, nor shall such failure prevent SPR from thereafter enforcing each and every provision of this Agreement.

			

 

AGREED TO this 13th day of August, 2018.

 

	
			 

				
			 

				Schultz Public Relations, LLC.	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				 	
			/s/ Sharon L. Schutz

				
			 

			
	
			 

				
			 

				Sharon L. Schultz, President	
			 

			
	
			 

				
			 

				Schultz Public Relations, LLC	
			 

			
	 	 	 	 
	 	 	Isoray Medical, Inc.	 
	 	 	 	 
	 	 	/s/ Lori A. Woods	 
	 	 	
			Lori Woods, Chief Executive Officer

			IsoRay

				 

 

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