Document:

ex103.htm

This Agreement is dated effective as of April 15, 2014

 

Between:

, an individual residing at 

 

(the “Advisor”)

 

And:

 

HCi VioCare, a Nevada corporation having a business office at Centrum Offices, 38 Queen Street, Glasgow, Scotland, UK. G1 3DX

 

(the “Company”)

 

Whereas:

 

A.  The Company has determined to establish a scientific advisory board and to appoint certain advisors who can contribute to the Company’s overall business strategy and future direction.

 

B.   The Advisor has certain business expertise and has agreed to provide advice and recommendations regarding the Company’s overall business strategy and future direction.

 

Now therefore this Agreement witnesses that in consideration of the mutual covenants and agreements herein contained the parties hereto agree as follows:

 

Section 1. Interpretation

 

1.1 Where used herein the following terms shall have the meanings set out below:

 

(a) “Advisory Board” means the group of individuals appointed by the Company to act as advisors to the Board;

 

(b) “Advisory Services” means the advisory services to be provided by the Advisor to the Company as set out herein;

 

(c) “Board” means the board of directors of the Company;

 

(d) “Business Material” means any financial, market and technical information, methods and plans, trade secrets, know-how, technical expertise and other information relating to the Company’s business and operations;

 

(e) “Term” has the meaning given to it in subsection 2.1.

 

1.2 Governing Law. 

 

This Agreement shall be governed by and be construed in accordance with the laws of Nevada applicable therein.

  

  

  

1.3 Severability. 

 

If any one or more of the provisions contained in this Agreement should be determined to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.

 

Section 2. Term

 

2.1 Term. 

 

The term of this Agreement (the “Term”) shall be from and including April 15, 2014, to and including April 15, 2015, unless this Agreement is earlier terminated in accordance with Section 5.

 

Section 3. Advisory Services

 

3.1 Advisory Services. 

 

The Company hereby appoints and retains the Advisor, on a non-exclusive basis, during the Term to serve as a member of the Advisory Board and provide the Advisory Services as requested by the Company from time to time, and the Advisor hereby accepts such appointment to the Advisory Council and agrees to provide diligently the Advisory Services. In providing the Advisory Services, the Advisor will have an advisory role only and report directly to and take direction from the Board. In no circumstances will the Advisor perform any functions of the Board. The Advisor, as a member of the Advisory Board, shall attend as may be required by the Board, such meetings of the Advisory Board, either telephonically or in person,  and provide Advisory Services to the Board which shall include:

 

(a) making recommendations for both the short term and the long term business strategies to be employed by Company;

 

(b) monitoring and assessing the market for the Company’s business and to advise the Board with respect to such markets and to recommend an appropriate business strategy on an ongoing basis;

 

(c) commenting on proposed corporate decisions and identifying and evaluating alternative courses of action;

 

(d) critiquing the managements’ and directors’ actions and making suggestions to strengthen the management structures, processes and operations;

 

(e) providing an objective evaluation of the performance of the Company and its management in relation to competitors within the industry;

 

(f) identifying and evaluating external threats and opportunities to the Company;

 

(g) evaluating and making ongoing recommendations to the Board with respect to the required management personnel and job functions for the efficient operation of the Company’s business;

  

  

  

(h) formulating and recommending to the Board appropriate operating policies and procedures and supervising the implementation of such policies and procedures for the ongoing conduct of the Company’s business;

 

(i) discussing from time to time any matters pertaining to the Company’s business; and

 

(j) providing such other advisory or consulting services as may be appropriate from time to time.

 

3.2 Board to Act Independently. 

 

The Board shall diligently and responsibly receive all advice from the Advisor and the Advisory Board and exercise its own independent judgment before acting upon such advice.

 

3.3 Remuneration. 

 

(a)  In consideration of the provision of the Advisory Services, the Company shall grant the Advisor an option to purchase a total of 5,000 shares of the Company’s Series A Preferred Stock at an exercise price of $0.04 per share for a period of five years from the date of vesting. These options referred to hereunder shall vest at the end of the Term and the Advisor shall not have any rights to exercise until the completion of the Term at which time the options shall be fully vested.

 

(b) The Company shall further pay to the Advisor any out of pocket expenses which shall be prior approved by the Company for the attendance at any meetings of the Advisory Board.

 

3.4 Other Contractual Agreements

 

The parties to this Agreement recognize that they may enter into other contractual agreements for services to be provided to the Company for which independent contracts shall be executed and that this Agreement relates solely to the appointment of the Advisor to the Advisory Board and the mandate of the Advisory Board as noted by the Company and the Board.

 

3.5 Disclosure of Advisor.  During the Term, the Advisor shall:

 

(a) disclose to the Company all of its interests in any transaction or agreement contemplated by the Company or any matter which may taint the Advisor’s objectivity when performing its role as an Advisor hereunder;

 

(b) inform the Company of any business opportunities made available to the Advisor as a result of the Advisor’s involvement with the Company or otherwise through the performance of the Advisory Services; and

 

(c) not serve as an advisor, or consent to an appointment as a member of the board of directors, of a company which competes, directly or indirectly, with the Company.

  

  

  

  

Section 4. Confidential Information

 

4.1 Confidentiality Obligation. 

 

The Advisor recognizes and agrees that any Business Material furnished or to be furnished to it by the Company is to be used only for the purpose of providing the Advisory Services hereunder and that such Business Material will be kept confidential by the Advisor provided, however, that any such Business Material may be disclosed:

 

(a) if specifically consented to in writing by the Company; or

 

(b) if required by applicable law or by an order of a court of competent jurisdiction.

 

4.2 Exceptions. 

 

The provisions of Section 4.1 shall not apply to:

 

(a) information which becomes generally available to the public other than as a result of a disclosure by the Advisor;

 

(b) information which is generally known to knowledgeable business people involved in the business conducted by the Company other than as a result of a disclosure by the Advisor in violation of this part;

 

(c) information that was available to the Advisor on a non-confidential basis prior to its disclosure to the Advisor by the Company; or

 

(d) information that becomes available to the Advisor on a non-confidential basis from a person or entity other than the Company, unless such disclosure by that person is itself in breach of a confidentiality commitment made directly or indirectly to the Company;

 

and provided that nothing in this Agreement shall prevent the Advisor from using its expertise and knowledge in the conduct of other business for its own account or as a consultant to others.

 

5. Termination

 

5.1 Termination by the Company and the Advisor. 

 

The Company or the Advisor may terminate this Agreement without cause at any time by giving 30 days written notice of termination of this Agreement to the other party. Any termination of this Agreement, either pursuant to this Section or otherwise, will not affect the obligations under Section 4, which will survive such termination. In the event that this Agreement is terminated by the Company, the Company shall pay the Advisor an amount equal to any expenses incurred by the Advisor up to the effective date of the termination to the extent such expenses have not previously been reimbursed. Upon payment of such amounts, the Advisor shall have no claim against the Company for damages or otherwise by reason of such termination. In the event of termination of this Agreement, the Advisor shall, prior to the effective date of the termination, deliver to the Company all books, records, or other information in its possession pertaining to the Company’s business.

 

5.2 Early Termination

 

Should either the Advisor or the Company terminate this Agreement pursuant to Section 5.1 herein then any rights to remuneration by way of stock options under 3.3(a) shall be immediately cancelled and unearned.  For greater clarity, the options shall not be vested or earned until one year from the date of this Agreement.

 

  

  

  

6. Indemnity and Limitation of Liability

 

6.1 Indemnification by the Company.

 

The Company shall indemnify and hold harmless the Advisor against any and all losses, damages, suits, judgments, costs and expenses arising under any such third party claim or action provided however, that the Advisor provides the Company with:

 

(a) written notice of such claim or action within 14 days of acquiring knowledge of the event;

 

(b) sole control and authority of the defense or settlement of such claim or action (provided that the Company shall not enter into any settlement which materially affects the Advisor’s rights without the Advisor’s prior written consent); and

 

(c) proper and full information and reasonable assistance to defend and/or settle any such claim or action.

 

6.2 No Liability for Acts of the Company. 

 

The Advisor shall not be liable for any act of the Company or any of its directors, officers or employees.

 

6.3 Limitation of Liability.

 

Under no circumstances will either party be liable to the other party for indirect, incidental, consequential, special or exemplary or punitive damages (even if such party has been advised of the possibility of such damages), arising from any provision of this Agreement, such as, but not limited to, loss of revenue or anticipated profits or loss of business.

 

7. General Provisions

 

7.1 No Partnership or Agency. 

 

The relationship between the Company and the Advisor is that of independent contractor and nothing herein contained shall be interpreted so as to create a partnership or agency relationship between the parties.

 

7.2 Assignment. 

 

Neither party may assign any rights or delegate any obligations hereunder without the prior written consent of the other party.

  

  

  

As evidence of their agreement this Agreement has been executed by the parties hereto as of the date first above written.

 

HCi VioCare

By:

 

Its:

By:ex104.htm

CONSULTING AGREEMENT

THIS CONSULTING AGREEMENT (the “Agreement”) is made to be effective on and as of April 16, 2014 (the "Effective Date") by and between HCi VioCare (the “Company”), a Nevada corporation, with offices at Centrum Offices, 38 Queen Street, Glasgow, UK G1 3DX, and Professor Stephan Solomonidis, resident of 66 Stewarton Drive, Cambuslang, Glasgow G72 8DG, Scotland, UK (the “Consultant”).

RECITALS

	
1.

	
The Company wishes to assure itself of the services of the Consultant for the period provided in this Agreement.

	
2.

	
The Consultant is willing to provide services to the Company in accordance with the terms and conditions set forth in this Agreement.

OPERATIVE PROVISIONS

In consideration of the above recitals, which are incorporated into and are a material part of the operative provisions of this Agreement, and of the promises, covenants and conditions stated herein, the Company and the Consultant hereby agree as follows:

1.           POSITION AND RESPONSIBILITIES.

1.1           During the period of this Agreement, the Consultant agrees to provide the services as Head of Research for the Company and the Company’s wholly-owned subsidiaries as required (collectively referred to as the “Companies”). The Consultant shall render services to the Companies, and shall have such responsibilities, duties and authority, as may from time to time be assigned to the Consultant by the Companies’ Boards of Directors (the “Boards”), and, in relationship with his other current engagement with the University of Strathclyde, shall be free to choose the amount of time he allocates in view of satisfying such responsibilities, which shall be conducted at the offices of the Consultant and such other places as deemed effective by the respective Boards. The Consultant may engage in other activities and endeavors as he may elect, so long as such activities do not directly compete with the Companies. It is expressly understood and agreed between the parties hereto that any involvement with another company which shall be in the business of prosthetics, orthotics, diabetics and rehabilitation clinics and technology shall be deemed to be in direct competition with the Companies.

2.           TERM

2.1           The period of the Consultant's services under this Agreement shall be deemed to have commenced on the Effective Date and shall continue for a period of one (1) year thereafter (the “Term”), and may be extended for such term as may be mutually agreed between the parties.

  

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3.           COMPENSATION BENEFITS AND REIMBURSEMENT.

3.1           The Consultant shall earn as compensation the amount of twenty thousand pounds (£20,000.00 GBP) per year ("Consultant’s Fee"), with subsequent adjustments as mutually agreed between the parties to reflect the growth and success of the Company. The Consultant’s Fee shall be paid in equal monthly installments to Consultant in cash, commencing on the 1st of May, 2014.

3.2           The Company shall pay or reimburse Consultant for all reasonable travel, and other reasonable expenses incurred by Consultant in performance of Consultant's obligations under this Agreement, provided that all long distance travel and other extraordinary expenses are approved by the Company prior to incurrence of the same. The Consultant agrees to obtain approval from the Company in writing for any individual expense of one thousand dollars ($1,000.00 USD) or greater or any aggregate expense in excess of two thousand dollars ($2,000.00 USD) incurred in any given month by the Consultant in connection with the carrying out his duties under this Agreement.

3.3           In case that a research and development project is initiated during the term of this Agreement, the Consultant’s fee will be readjusted to the amount of forty thousand pounds (£40,000.00 GBP), and the Consultant shall be entitled of two hundred thousand (200,000) shares of the Company’s common stock for every research project completed during the term of this Agreement with a valuation less than twenty million dollars ($20,000,000.00 USD), and five hundred thousand (500,000) shares of the Company’s common stock for every research project completed during the term of this Agreement with a valuation equal or greater than twenty million dollars ($20,000,000.00 USD).

3.4. The Consultant shall also be entitled to participate in any health, medical and/or dental plans which the Company may implement during the Term or the extension hereof.

4.           TERMINATION.

	
  

	
4.1

	
This Agreement may be terminated only under the following circumstances:

(a) Notice.  The Company may terminate this Agreement upon thirty (30) days prior written notice delivered to Consultant.

(b) Death.  The Consultant’s services hereunder shall terminate upon his death.

(c) Cause.  Either party shall have the right to terminate this Agreement for cause. A “Termination for Cause" for the Company shall mean termination because of Consultant's material failure or willful neglect to perform Consultant’s stated duties, or failure to cure such material failure or willful neglect within ten (10) days after delivery of written notice specifying the alleged material failure or willful neglect, conviction of a felony, or any other willful or material breach of this Agreement. For purposes of this Article, no act, or the failure to act, on Consultant's part shall be "willful" unless done, or omitted to be done, in good faith and with reasonable belief that the action or omission was in the best interest of the Company or its affiliates. A “Termination for Cause" for Consultant shall mean termination because of the Company's material failure to perform the terms of this Agreement.

  

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(d) Termination by the Consultant.  The Consultant may terminate his employment hereunder for Good Reason.  For purposes of this Agreement, a “Good Reason” shall mean (A) the breach by the Company in any material respect of any material provision of this Agreement (including, but not limited to, the provisions of Section 3) which breach has not been cured within ten (10) days after delivery of notice of such noncompliance that has been given by Consultant to the Company, or (B) any purported termination of Consultant’s employment which is not effected pursuant to a Notice of Termination satisfying the requirements of Section 5.1 hereof (and for purposes of this Agreement no such purported termination shall be effective).

(e) Disability.  If, as a result of Consultant's inability to perform substantially all of his duties hereunder by reason of a physical or mental disability or infirmity (i) for a continuous period of two (2) full months or (ii) at such earlier time as Consultant submits satisfactory medical evidence that he has a physical or mental disability or infirmity which will likely prevent him from performing his work duties for two (2) months or longer (a "Disability"), the Company may terminate this Agreement. The date of such Disability shall be the last day of such two-month period, or the day on which Consultant submits such satisfactory medical evidence, as the case may be.

4.2           Any payments due upon termination, pursuant to Section 4.1 above, shall be borne by the Company, and any payments due after such termination occurs shall no longer be paid.

5.           NOTICE.

5.1           Notice of Termination.  Any purported termination of this Agreement by the Company or by Consultant (other than termination pursuant to subsection (b) of Section 4.1) shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 12.  For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon, and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of this Agreement under the provision so indicated.

5.2           Date of Termination.  “Date of Termination” shall mean (i) if this Agreement is terminated by the death of Consultant, the date of his death, (ii) if this Agreement is terminated pursuant to subsection (e) of Section 4.1 above, the date of disability referred to in said subsection, and (iii) if this Agreement is terminated pursuant to subsections (a), (c) or (d) of Section 4.1 above, the date specified in the Notice of Termination; provided, however, that if within thirty (30) days after any Notice of Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination shall be the date on which the dispute is finally determined, either by mutual written agreement of the parties, by a binding and final arbitration award, or by a final judgment, order or decree of a court of competent jurisdiction (the time for appeal therefrom having expired and no appeal having been perfected).

6.           CONFIDENTIALITY.

As the Company’s business is specialized and competitive, the Consultant is likely to have access to, and an intimate knowledge of, the Company’s trade secrets and confidential information during the course of this Agreement. Disclosure of such trade secrets and confidential information would place the Company at a serious competitive disadvantage and do serious damage (financial and/or otherwise) to its business and would cause immeasurable harm.

 

  

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Therefore, both during this Agreement and after its termination the Consultant is prohibited from communicating or disclosing to any third party any trade secrets or confidential information of the Company and from using such information for its own purposes, unless prior written authorization from the Company has been obtained. For this purpose trade secrets and confidential information shall include but not be limited to:

 

	
  

	
·

	
The Company’s proposed strategies and plans;

 

	
  

	
·

	
The Company’s IP technologies;

 

	
  

	
·

	
The Company’s current business strategies and plans including (without limitation) know how and internal working practices;

 

	
  

	
·

	
All information as to the requirements of the Company’s customers;

 

	
  

	
·

	
All information relating to patient profiles, histories or similar information; and

 

	
  

	
·

	
All information relating to Section 1 “Position and Responsibilities” of this Agreement that the Consultant will obtain in the course of this Agreement with the Company.

7.           EFFECT ON PRIOR AGREEMENTS.

This Agreement contains the entire understanding between the parties hereto and supersedes any prior agreement between Company and Consultant.

8.           MODIFICATION AND WAIVER.

                8.1   This Agreement shall not be modified or amended except by an instrument in writing signed by the parties hereto.

8.2    No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each written waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future as to any act other than that specifically waived.

9.           SEVERABILITY.

If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full extent (consistent with law) continue in full force and effect.

10.           HEADINGS FOR REFERENCE ONLY.

The headings of articles and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement.

  

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11.           GOVERNING LAW

This Agreement shall be governed by and be construed under the laws of the State of Nevada without regard to the choice of law principles of that state. In the event of any dispute between the parties with respect to this Agreement or the performance of the parties' obligations thereunder, such dispute shall be instituted and prosecuted in the courts of Nevada and the parties hereby consent to the jurisdiction of such courts, and waive any disputes they may have to a change of venue.

12.           NOTICES.

Any notice or other communication required or which may be given hereunder shall be in writing and shall be delivered personally, telegraphed, telexed, or transmitted by facsimile, or sent by certified, registered or express mail, or postage prepaid, and shall be deemed given when so hand delivered, telegraphed, telexed or transmitted by facsimile, or if mailed, two (2) days after the date of mailing, addressed as follows:

If to Company:                     HCi VioCare

Contact – Sotirios Leontaritis

(+44) 0808 178 4373

Centrum Offices,

38 Queen Street, Glasgow,

G1 3DX, Scotland, UK

If to Consultant:                   Stephan Solomonidis

66 Stewarton Drive, Cambuslang,

                                                Glasgow G72 8DG, Scotland, UK

13.   ARBITRATION OF DISPUTES.

a.           Arbitration. All Arbitration Claims (defined below) between the parties shall be resolved by submission to final and binding arbitration at the Las Vegas, Nevada offices of the American Arbitration Association (“AAA”).  The parties may agree on a retired judge from the AAA panel. In case of failure of agreement, an arbitrator shall be selected in accordance with the rules and procedures of the AAA. The parties agree that arbitration must be initiated within sixty (60) days after a party delivers a notice of intention to arbitrate pursuant to Subsection 13(b) below.

b.           Initiation of Arbitration: Submission Agreement. Any party to this Agreement may initiate arbitration of a dispute subject to this Paragraph, by sending written notice of an intention to arbitrate by registered or certified mail to all other parties and to the AAA. The notice shall contain a description of the Arbitration Claim(s) asserted by the party, the amount involved and the remedy sought. In the event a demand for arbitration is made by any party to this Agreement, the parties agree to execute a Submission Agreement provided by the AAA, in a form customarily used by the AAA, setting forth (i) the rights of the parties if the matter is arbitrated and (ii) the rules and procedures to be followed at the arbitration hearing. Notwithstanding anything to the contrary contained in this Agreement, each party shall bear its own legal, consulting and expert witness fees incurred during any arbitration proceeding under this Paragraph.

c.           One-Year To Initiate Arbitration Claim.  The parties agree that arbitration must be initiated within one (1) year after the occurrence of the events on which any Arbitration Claim is based, and a party's failure to initiate arbitration within such one-year period constitutes an absolute bar to the institution of any new proceedings.

  

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d.           “Arbitration Claim” Defined. For purposes of this Agreement, "Arbitration Claim" shall mean any contract, tort, statutory or other claim, demand, cause of action, or dispute asserted by any party to this Agreement against any other party to this Agreement, arising out of or related to (i) this Agreement or any modification, amendment or supplement thereof, or (ii) the relationship between the parties as created hereunder.

 

 

c.           Intent of the Parties - Adequate Consideration.  By this provision, it is the intent of the parties to establish procedures to accomplish the informal and inexpensive resolution of any Arbitration Claim between them without resort to litigation. The parties agree that their mutual, binding promises to arbitrate any Arbitration Claim between them represents valuable and adequate consideration for the enforceability of this provision.

NOTICE:                      BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE "ARBITRATION OF DISPUTES" PROVISION DECIDED BY NEUTRAL ARBITRATION, AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE WAIVING YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED OR PROVIDED FOR IN THE "ARBITRATION OF DISPUTES" PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER NEVADA LAW. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY.

WE HAVE READ AND UNDERSTOOD THE FOREGOING AND AGREE TO SUBMIT ANY DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THIS "ARBITRATION OF DISPUTES" PROVISION TO NEUTRAL ARBITRATION.

 

	 	 	 	 	 
	 	 Consultant's Initials 	 	 Company’s Initials	 

 

15.   ASSIGNMENT.

This Agreement shall be binding upon, and shall inure to the benefit of, the parties, and their respective successors, assigns, heirs and representatives.  Notwithstanding the foregoing, however, Consultant may not assign any of Consultant’s, or delegate any of Consultant’s duties hereunder. The Company may assign this Agreement upon notice to Consultant without securing Consultant's prior written consent in connection with any sale of all of the Company's assets or if the Company merges into or consolidates with another business entity.

IN WITNESS WHEREOF, the Company and the Consultant have executed this Agreement to be effective on and as of the Effective Date stated herein above.

 

	 	“CONSULTANT'”	 	THE “COMPANY”	 
	 	 	 	 	 
	 	 Professor Stephan Solomonidis 	 	HCi VioCare, a Nevada corporation	 
	 	 	 	
By: Sotirios Leontaritis

Title: CEO, President and Director

	 

                                                 

  

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