Document:

Exhibit
      10.04

    GE

     
      Healthcare Financial Services 

     

      
        

      

    

     

    ASSIGNMENT
      AND ASSUMPTION AGREEMENT

    

    
      	
              Assignor:

            	 	
              Assignee: 

            
	 	 	 
	
              THE
                SAGEMARK COMPANIES, LTD.

            	 	
              ASCENT
                DIAGNOSTIC IMAGING OF 

            
	
              4710
                NW BOCA RATON BLVD

            	 	
              TAMARAC,
                LLC

            
	
              SUITE
                200

            	 	
              2100
                S.E. OCEAN BOULEVARD

            
	
              BOCA
                RATON, FL 33431

            	 	
              SUITE
                102

            
	 	 	
              STUART,
                FL 34996

            
	 	 	 
	
              Company:

            	 	
              Contracts:

            
	 	 	 
	
              GENERAL
                ELECTRIC CAPITAL CORPORATION

            	 	
              Contract
                Numbers: See Exhibit A

            
	
              20225
                WATERTOWER BLVD.

            	 	 
	
              BROOKFIELD,
                WI 53045

            	 	 
	 	 	 
	
              Equipment:

            	 	
              Effective
                Date:

            
	 	 	 
	
              See
                Exhibit A

            	 	
              April
                24, 2008

            

    

    

    THIS
      ASSIGNMENT AND ASSUMPTION AGREEMENT, herein "Agreement," dated this 24th day
      of
      April, 2008, is by and between Assignor and Assignee and regards Assignor's
      assignment to Assignee and Assignee's assumption, effective as of the Effective
      Date, of all of Assignor's rights, duties and obligations under the
      Contracts.

    

    WHEREAS,
      Company has financed, sold or leased to Assignor, subject to and in accordance
      with the terms, conditions and provisions of the Contracts, certain medical
      equipment and other property described in the Contracts, true and complete
      copies of which are attached hereto and made a part hereof as Exhibit A;
      and

    

    WHEREAS,
      Assignor desires to assign to Assignee its future rights, duties and obligations
      of Assignor under the Contracts, effective as of the Effective Date;
      and

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    WHEREAS,
      Assignee desires to accept the assignment from Assignor of and to assume all
      future rights, duties and obligations of Assignor under the Contracts, effective
      as of the Effective Date; and

    

    WHEREAS,
      Assignor and Assignee to accomplish this end must obtain the written consent
      of
      Company and evidence their assignment and assumption agreement in
      writing;

    

    NOW,
      THEREFORE, for the reasons recited above and in consideration of the mutual
      covenants contained herein, Assignor and Assignee intending to be legally bound
      agree as follows:

    

    1.
      Assignor hereby and by these presents does assign, transfer and convey unto
      Assignee, its successors and assigns, effective as of the Effective Date, all
      of
      the Assignor's future rights, duties and obligations under the Contracts, to
      have and to hold the same unto Assignee, its successors and Assigns forever,
      as
      if Assignee were named in the original Contracts in place of the Assignor as
      an
      obligor thereunder, subject, however, to the terms and conditions of the
      Contracts, Company hereby confirming its consent to the said assignment and
      assumption, Assignor's retention of the full benefit of and liability for all
      of
      its rights, duties and obligations under the Contracts that become due and
      payable or are otherwise to be performed prior to the Effective Date, and
      Assignee's only enjoying the benefit of and being solely liable for all of
      Assignor's future rights, duties and obligations under the Contracts that become
      due and payable or are otherwise to be performed on or after the Effective
      Date.

    

    2.
      Assignee hereby and by these presents does unconditionally purchase and accept
      the assignment, transfer and conveyance from Assignor of and assume, effective
      as of the Effective Date, all of Assignor's future rights, duties and
      obligations under the Contracts, as the same have been amended by amendments
      of
      even date herewith between Assignee and Company, to have and to hold the same
      unto Assignee, its successors and assigns forever, as if Assignee were named
      in
      the original Contracts in place of Assignor as an obligor thereunder, subject,
      however, to the terms and conditions of the Contracts, Company hereby confirming
      its consent to the said assignment and assumption, Assignor's retention of
      the
      full benefit of and liability for all of its rights, duties and obligations
      under the Contracts that become due and payable or are otherwise to be performed
      prior to the Effective Date and Assignee only enjoying the full benefit of
      and
      being liable for all of Assignor's future rights, duties and obligations under
      the Contracts that become due and payable or are otherwise to be performed
      on or
      after the Effective Date.

     

    3.
      Assignor hereby and by these presents does agree not to assert against Company
      any defense, setoff, recoupment, claim or counterclaim which Assignee might
      have
      against Company under or in relation to the Contracts on or after the Effective
      Date (except for the defense of timely payment).

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    4.
      Assignee hereby and by these presents does agree not to assert against Company
      any defense, setoff, recoupment, claim or counterclaim which Assignor might
      have
      against Company under or in relation to the Contracts before the Effective
      Date
      (except for the defense of timely payment).

     

    5.
      Assignor and Assignee hereby and by these presents agree that any consent by
      Company to this Agreement shall not be deemed to be a consent by Company to
      any
      subsequent or other assignment and/or assumption by Assignor or Assignee and
      that any other assignment and/or assumption without Company's prior written
      consent shall be null and void.

     

    6.
      Assignor agrees to indemnify, defend and hold harmless Assignee from and against
      any and all such duties and obligations under the Contracts other than those
      first coming due on or after the Effective Date. Assignee will indemnify, defend
      and hold harmless Assignor from and against all such duties and obligations
      under the Contracts which arise subsequent to the Effective Date.

    

    7.
      In
      connection with the assignment and assumption contemplated by this Agreement,
      Company will waive past due rents and other amounts due under the Contracts,
      as
      follows:

    

    Contract
      No.: 8545088002

    

      
        	
                Date

              	 	
                Invoice Number

              	 	
                Amount

              
	
                1/15/08

              	 	
                13611210

              	 	
                $15,676.06

              
	
                2/15/08

              	 	
                13697919

              	 	
                $15,676.06

              
	
                3/15/08

              	 	
                13773609

              	 	
                $19,000.00

              
	 	 	 	 	 
	 	 	 	 	
                Total:
                  $50,352.12

              

      

    

     

    Contract
      No. 8545088003

    

    
      	
              Date

            	 	
              Invoice Number

            	 	
              Amount

            
	
              12/30/07

            	 	
              N/A

            	 	
              $24.02

            
	
              1/30/08

            	 	
              N/A

            	 	
              $1,183.08

            
	
              2/29/08

            	 	
              N/A

            	 	
              $1,183.08

            
	
              3/30/08

            	 	
              N/A

            	 	
              $1,183.08

            
	 	 	 	 	 
	 	 	 	 	
               Total:
                $3,573.26

            

    

     

    Contract
      No. 8545092001

    

    
      	
              Date

            	 	
              Invoice Number

            	 	
              Amount

            
	
              1/15/08

            	 	
              13611211

            	 	
              $2,688.80

            
	
              2/15/08

            	 	
              13697920

            	 	
              $8,147.57

            
	
              3/15/08

            	 	
              13773610

            	 	
              $8,147.57

            
	 	 	 	 	 
	 	 	 	 	
               Total:
                $18,983.94

            

    

     

    Total
      (All Contracts): $72,909.32

    

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        3

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, Assignor and Assignee have caused these presents to be executed
      the day first above written.

    

    
      	
              ATTESTED:

            	
              ASSIGNOR:

            
	 	 
	 	
              THE
                SAGEMARK COMPANIES, LTD.

            
	 	 
	
              /s/ Jan Lipstein

            	 	
              By:
                

            	
              /s/ Ron Lipstein

            	 
	 	 
	 	
              President
                and Chief Executive Officer

            
	 	
              Title

            
	 	 
	 	
              ASSIGNEE:

            
	 	 
	 	
              ASCENT
                DIAGNOSTIC IMAGING OF

            
	 	
              TAMARAC,
                LLC

            
	 	 
	 	
              By:
                ASCENT, L.L.C., its Manager

            
	 	 	 	 
	 	
              By:

            	
              /s/ Robert O. Baratta

            	 
	 	 	 	 
	 	
              President

            
	 	
              Title

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    FORM
      OF
      CONSENT

    

    Company,
      in consideration of the foregoing, hereby consents to this Assignment and
      Assumption Agreement and discharges Assignor from all duties and obligations
      due, payable or performable under the Contracts,
      except
      such duties and obligations that, pursuant to the terms of the Contracts, are
      intended to survive expiration or termination of the Contracts.

    

    
      	 	
              General
                Electric Capital Corporation

            
	 	 
	 	
               
                
                

              

            
	 	 
	 	
               
                
                

              

            
	 	 
	 	
              (Type
                or Print Name)

            
	 	 
	 	
              Duly
                Authorized Signatory 
                

              

            
	 	
              Title

            

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    
      	
              Contract
                Number

            	 	
              Equipment

            
	 	 	 
	
              8545088-003

            	 	
              HOT
                LAB 

            
	
              8545088-002

            	 	
              DISCOVERY
                ST PET/CT SYSTEM

            
	
              8545092-001

            	 	
              PROM
                NOTE LEASEHOLD IMPROVEMENTS

            

    

    

    Copies
      of
      Contracts are attached.

    
      
        
        

      

      
        6Exhibit
      10.05

    

    TERMINATION
      AGREEMENT

    

    AGREEMENT
      made this 15th
      day of
      April, 2008 by and between MICHAEL
      FAGIEN, M.D.
      (“Employee”)
      and
THE
      SAGEMARK COMPANIES LTD.
      (“Sagemark”).

    

    WITNESSETH:

    

    WHEREAS,
      Employee
      and Sagemark are parties to that certain Employment Agreement dated October
      25,
      2005, as amended (the “Employment
      Agreement”);
      and

    

    WHERAEAS,
      Sagemark
      and Employee have agreed to terminate the Employment Agreement, on and subject
      to the terms and conditions set forth herein.

    

    NOW
      THEREFORE,
      in
      consideration of the mutual covenants herein and other good and valuable
      consideration, the recipient and sufficiency of which are hereby unconditionally
      acknowledged, the parties hereto do hereby agree as follows:

    

    
      
        1.
          Termination
          of Employment Agreement.

      

    

    

    (a)
      Effective March 1, 2008, the Employment Agreement will be deemed terminated
      and
      no longer in force or effect (except to the extent expressly provided for
      herein). 

    

    (b)
       Upon
      the
      execution of this Agreement, Employee will return to the Company all files
      and
      personal property of the Company in his possession or under his control.

    

    (c)
       From
      and
      after the date hereof, Employee will provide reasonable cooperation and
      assistance to Sagemark in the event that any claim is made against Sagemark
      or
      its affiliates in connection with the activities of the positron emission
      tomography centers (the “PET
      Centers”)
      owned
      and/or managed by Sagemark or its affiliates in the State of
      Florida.

    

    
      
        
          2.
            Mutual
            Releases.

        

      

    

    

       (a)
      In
      consideration of the covenants and agreements set forth in this Agreement,
      and
      for other good and valuable consideration, the receipt and sufficiency of which
      are hereby acknowledged, Employee, and all entities owned (in whole or in part),
      controlled by, or under common control with Employee, and their respective
      officers, directors, shareholders, employees, agents, consultants, heirs,
      administrators, executors, personal representatives, successors and assigns
      (hereinafter
      collectively referred to as the “Employee Releasors”),
      do
      hereby unconditionally and irrevocably release and forever discharge Sagemark,
      and all entities owned (in whole or in part), controlled by, or under common
      control with Sagemark (including Premier P.E.T. Imaging International, Inc.),
      and their respective officers, directors, shareholders, employees, counsel,
      agents, consultants, heirs, administrators, executors, personal representatives,
      successors and assigns (hereinafter collectively referred to as the “Sagemark
      Releasees”),
      from
      any and all actions, causes of action, suits, debts, dues, sums of money,
      accounts, reckonings, bonds, bills, specialties, covenants, obligations,
      contracts, controversies, agreements, promises, variances, damages, liabilities,
      judgments, executions, claims and demands whatsoever, in law or in equity
      (whether known or unknown, liquidated or unliquidated and whether suspected
      or
      unsuspected), whether asserted individually, derivatively, or in any other
      capacity, which the Employee Releasors, or any of them, ever had, now have
      or
      hereafter can, shall or may have against the Sagemark Releasees (or any of
      them)
      for, by reason of, in any way based upon, arising out of, related to, or
      connected with, directly or indirectly, the Employment Agreement and Employee’s
      employment thereunder, from the beginning of the world to and including the
      date
      hereof, except for:

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	
              (i)

            	
              All
                representations, warranties, covenants and obligations of Sagemark
                under
                this Agreement; and 

            

    

    

    
      	 	
              (ii)

            	
              all
                right, title and interest in and to the Warrant dated October 25,
                2005
                entitling Employee to purchase up to 500,000 shares of common stock
                of
                Sagemark; and 

            

    

    

    
      	 	
              (iii)

            	
              any
                claim for indemnification, contribution or for coverage under the
                Employment Agreement or pursuant to Sagemark’s officer and director
                professional liability insurance policy; and

            

    

    

    
      	 	
              (iv)

            	
              any
                claim against the Sagemark Releasees which cannot be released under
                applicable law; and 

            

    

    

    
      	 	
              (v)

            	
              any
                claim for fraud.

            

    

    

    The
      Employee Releasors hereby covenant and agree not to sue any of the Sagemark
      Releasees with respect to any matter or thing covered by or subject to the
      foregoing release, subject to the exceptions set forth above, or with respect
      to
      any suit or proceeding commenced against the Sagemark Releasors to enforce
      the
      terms of the aforementioned release.

    

    (b)
       In
      consideration of the covenants and agreements set forth in this Agreement,
      and
      for other good and valuable consideration, the receipt and sufficiency of which
      are hereby acknowledged, Sagemark, and all subsidiaries and parents thereof,
      and
      all entities owned (in whole or in part), controlled by, or under common control
      with Sagemark (hereinafter
      collectively referred to as the “Sagemark Releasors”),
      do
      hereby unconditionally and irrevocably release and forever discharge Employee,
      and all entities owned (in whole or in part), controlled by, or under common
      control with Employee, and their respective officers, directors, shareholders,
      employees, counsel, agents, consultants, heirs, administrators, executors,
      personal representatives, successors and assigns (hereinafter collectively
      referred to as the “Employee
      Releasees”),
      from
      any and all actions, causes of action, suits, debts, dues, sums of money,
      accounts, reckonings, bonds, bills, specialties, covenants, obligations,
      contracts, controversies, agreements, promises, variances, damages, liabilities,
      judgments, executions, claims and demands whatsoever, in law or in equity
      (whether known or unknown, liquidated or unliquidated and whether suspected
      or
      unsuspected), whether asserted individually, derivatively, or in any other
      capacity, which the Sagemark Releasors, or any of them, ever had, now have
      or
      hereafter can, shall or may have against the Employee Releasees (or any of
      them)
      for, by reason of, in any way based upon, arising out of, related to, or
      connected with, directly or indirectly, the Employment Agreement and Employee’s
      employment thereunder, from the beginning of the world to and including the
      date
      hereof, except for:

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    
      	 	
              (i)

            	
              All
                representations, warranties, covenants and obligations of Employee
                under
                this Agreement; and 

            

    

    

    
      	 	
              (ii)

            	
              the
                confidentiality and non-disclosure covenants contained in Section
                7 of the
                Employment Agreement; and

            

    

    

    
      	 	
              (iii)

            	
              the
                non-competition and non-solicitation covenants contained in Section
                8 of
                the Employment Agreement, except that the non-competition covenant
                contained therein shall only apply during the Applicable Period and
                within
                the geographic area described therein with respect to a PET Center
                owned
                or managed by Sagemark or its affiliates in the State of Florida;
                and

            

    

    

    
      	 	
              (iv)

            	
              any
                claim against the Employee Releasees which cannot be released under
                applicable law; and 

            

    

    

    
      	 	
              (v)

            	
              any
                claim for fraud.

            

    

    

    The
      Sagemark Releasors hereby covenant and agree not to sue any of the Employee
      Releasees with respect to any matter or thing covered by or subject to the
      foregoing release, subject to the exceptions set forth above, or with respect
      to
      any suit or proceeding commenced against the Employee Releasees to enforce
      the
      terms of the aforementioned release.

    

    4.
       Survival. Notwithstanding
      any provision of this Agreement to the contrary, the provisions of Sections
      7
      and 8 of the Employment Agreement shall survive the termination thereof and
      remain in full force and effect in accordance with the provisions of such
      Sections.

    

    5.
       Representations
      and Warranties. 

    

    (a)
      All
      action on the part of Sagemark and Employee necessary for the authorization,
      execution, delivery and performance of this Agreement and the consummation
      of
      the transactions contemplated hereby, has been properly taken and obtained
      by
      each of them and this Agreement constitutes a valid and legally binding
      obligation of Sagemark and Employee enforceable in accordance with its terms
      except (i) as the same may be limited by bankruptcy, insolvency, reorganization,
      moratorium, or other laws affecting generally the enforcement of creditors’
rights and by the effect of rules governing the availability of equitable
      remedies, and (ii) as rights to indemnity or contribution may be limited under
      federal or state securities laws or by principles of public policy
      thereunder.

    

    (b)
      The
      authorization, execution, delivery and performance of this Agreement and the
      consummation of the transactions contemplated hereby and thereby will not result
      in any violation or be in conflict with or constitute, with or without the
      passage of time or giving of notice, or both, a breach or default under any
      instrument, judgment, order, writ, decree or agreement to which either Sagemark
      or Employee is a party or by which either of them is bound.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    6. Miscellaneous. 

    

    (a) This
      Agreement constitutes the sole and entire agreement between the parties hereto
      with respect to the subject matter hereof and supersedes all prior agreements,
      representations, warranties, statements, promises, information, arrangements
      and
      understandings, whether oral or written, express or implied, between the parties
      hereto with respect to the subject matter hereof and may not be changed or
      modified except by an instrument in writing signed by the party to be bound
      thereby. No course of conduct or dealing or trade usage or custom or course
      of
      performance by the parties hereto shall constitute or be relied upon as a
      modification, supplement, or waiver of any provision of this Agreement. This
      Agreement has been subject to the mutual consultation, negotiation and agreement
      of the parties hereto and shall not be construed for or against any party hereto
      on the basis of such party having drafted this Agreement. 

    

    (b)
       Each
      party acknowledges that it has consulted such legal, financial, technical and
      other experts as it deemed necessary or desirable prior to entering into this
      Agreement. Each party represents and warrants that it has read, knows,
      understands and agrees with the terms and conditions of this Agreement. Neither
      party has relied upon any oral representations of the other party in entering
      into this Agreement. 

    

    (c) All
      notices, consents, requests, demands and other communications required or
      permitted to be given under this Agreement shall be in writing and delivered
      personally, receipt acknowledged, or mailed by registered or certified mail,
      postage prepaid, return receipt requested, addressed to the parties hereto
      as
      follows (or to such other addresses as either of the parties hereto shall
      specify by notice given in accordance with this provision):

    

    
      	 	
              (i)

            	
              If
                to Sagemark, to it at:

            
	 	 	 
	 	 	
              The
                Sagemark Companies Ltd.

            
	 	 	
              1285
                Avenue of the Americas, 35th
                Floor

            
	 	 	
              New
                York, New York 10019

            
	 	 	
              Attn:
                Ron Lipstein, President and Chief Executive Officer

            
	 	 	 
	 	 	
              with
                a copy to:

            
	 	 	 
	 	 	
              Robert
                L. Blessey, Esq.

            
	 	 	
              51
                Lyon Ridge Road

            
	 	 	
              Katonah,
                New York 10536

            

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (ii)

            	
              If
                to Employee:

            
	 	 	 
	 	 	
              Michael
                Fagien, M.D.

            
	 	 	
              306
                S. Hibiscus Drive

            
	 	 	
              Miami
                Beach, Florida 33139

            
	 	 	 
	 	 	
              with
                a copy to:

            
	 	 	 
	 	 	
              Philip
                M. Sprinkle II

            
	 	 	
              Kaufman
                & Canoles

            
	 	 	
              Three
                James Center, 12th
                Floor

            
	 	 	
              1051
                E. Cary Street

            
	 	 	
              Richmond,
                VA 23219

            

    

     

    All
      such
      notices, consents, requests, demands and other communications shall be deemed
      given when personally delivered as aforesaid, or, if mailed as aforesaid, on
      the
      third business day after the mailing thereof or on the day actually received,
      if
      earlier, except for a notice of a change of address which shall be effective
      only upon receipt.

    

    (d) Neither
      party hereto may assign this Agreement or its or their respective rights,
      benefits nor obligations hereunder without the written consent of the other
      Party hereto.

    

    (e) This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors, heirs, personal representatives,
      administrators, executors and permitted assigns. Nothing contained in this
      Agreement is intended to confer upon any person or entity, other than the
      parties hereto, or their respective successors, heirs, personal representatives,
      administrators, executors or permitted assigns, any rights, benefits,
      obligations, remedies or liabilities under or by reason of this
      Agreement.

    

    (f) No
      waiver
      of any provision of this Agreement or of any breach thereof shall be effective
      unless in writing and signed by the party to be bound thereby. The waiver by
      either party hereto of a breach of any provision of this Agreement, or of any
      representation, warranty, obligation or covenant in this Agreement by the other
      party hereto, shall not be construed as a waiver of any subsequent breach or
      of
      any other provision, representation, warranty, obligation or covenant of such
      other party, unless the instrument of waiver expressly so provides.

    

    (g) This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York with respect to contracts made and to be fully performed
      therein, without regard to the conflicts of laws principles thereof, except
      as
      to applicable federal and state securities laws. The parties hereto hereby
      agree
      that any suit or proceeding arising under this Agreement, or in connection
      with
      the consummation of the transactions contemplated hereby, shall be brought
      solely in a federal or state court located in the City, County and State of
      New
      York, except for any suit or proceeding seeking an equitable remedy hereunder
      which may be brought in any court of competent jurisdiction. By their execution
      hereof, the parties hereto hereby consent and irrevocably submit to the
in personam
      jurisdiction of the federal and state courts located in the City, County and
      State of New York (or any such other court of competent jurisdiction) and agrees
      that any process in any suit or proceeding commenced in such courts under this
      Agreement may be served upon them personally or by certified or registered
      mail,
      return receipt requested, or by Federal Express or other courier service, with
      the same force and effect as if personally served upon them in New York City
      (or
      in the City or County in which such other court is located). The parties hereto
      each waive any claim that any such jurisdiction is not a convenient forum for
      any such suit or proceeding and any defense of lack of in personam
      jurisdiction with respect thereto. Nothing in this Section 6(g) shall affect
      the
      rights of the parties hereto to serve legal process in any other manner
      permitted by law.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (h) The
      parties hereto hereby agree that, at any time and from time to time after the
      date hereof, upon the reasonable request of the other party hereto, they shall
      do, execute, acknowledge and deliver, or cause to be done, executed,
      acknowledged and delivered, such further acts, deeds, assignments, transfers,
      conveyances, and assurances as may be reasonably required to more effectively
      consummate this Agreement and the transactions contemplated thereby or to
      confirm or otherwise effectuate the provisions of this Agreement. 

    

    (i) Each
      party hereto represents and warrants to the other that it or he has been
      represented by counsel in connection with the negotiation, preparation, and
      consummation of this Agreement. Except as expressly provided in this Agreement,
      each of the parties hereto shall bear all of its or their respective costs
      and
      expenses incurred in connection with the negotiation, preparation, execution,
      consummation, performance and/or enforcement of this Agreement, including,
      without limitation, the fees and disbursements of their respective counsel,
      financial advisors and accountants. Notwithstanding the foregoing, in the event
      of any action or proceeding instituted by either party hereto to enforce the
      provisions of this Agreement, the party prevailing therein shall be entitled
      to
      reimbursement by the other breaching party(ies) of the legal costs and expenses
      incurred by the prevailing party in connection therewith. For purposes hereof,
      “prevailing
      party”
      means
      the party in whose favor final judgment, after appeal (if any), is rendered
      with
      respect to the claims asserted in any such action or proceeding.

    

    (j) This
      Agreement may be executed in one or more counterparts, each of which, when
      executed and delivered, shall be deemed an original, but all of which when
      taken
      together, shall constitute one and the same instrument. It shall not be
      necessary in making proof of this Agreement or any counterpart hereof to produce
      or account for any of the other counterparts. A copy of this Agreement signed
      by
      one party and faxed to another party shall be deemed to have been executed
      and
      delivered by the signing party as though an original. A photocopy of this
      Agreement shall be effective as an original for all purposes.

    

    (k) The
      Section headings used in this Agreement have been used for convenience of
      reference only and are not to be considered in construing or interpreting this
      Agreement.

    

    (l) If
      one or
      more provisions of this Agreement are held to be unenforceable under applicable
      law, such provision(s) shall be excluded from this Agreement and the balance
      of
      this Agreement shall remain in full force and effect.

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    (m) No
      remedy
      set forth in this Agreement is exclusive of any other available remedy or
      remedies, whether legal or equitable, but each remedy is cumulative and in
      addition to every other right or remedy provided for under this Agreement now
      or
      hereafter existing at law or in equity or by statute. Either party hereto may
      pursue its rights and remedies concurrently or in any sequence and no exercise
      of one right or remedy shall be deemed to be an election. No delay by either
      party hereto in enforcing its rights under this Agreement shall constitute
      a
      waiver, election or acquiescence by such party.

    

    (n) Unless
      the context of this Agreement clearly requires otherwise, the plural includes
      the singular, the singular includes the plural, the part includes the whole,
      "including" is not limiting, and "or" has the inclusive meaning of the phrase
      "and/or". The words "hereof", "herein", "hereby", "hereunder" and other similar
      terms in this Agreement refer to this Agreement as a whole and not exclusively
      to any particular provision of this Agreement.

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Agreement as of the year and date first above
      written.

    

      
        	
                WITNESS:

              	
                THE SAGEMARK COMPANIES LTD.

              
	 	 
	
                /s/ Jan Lipstein

              	 	
                By

              	
                /s/ Ron Lipstein

              	 
	 	 	
                Ron Lipstein

              
	 	 	
                President and Chief Executive Officer

              

      

    

    

      
        	
                WITNESS:

              	 
	 	 
	
                /s/ Catherine W. Eagles

              	 	
                /s/

              	
                Michael Fagien

              	 
	 	 	 	
                Michael
                  Fagien, M.D.

              

      

    

    
      
        
        

      

      
        7

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