Document:

Exhibit
      10.2

    

    

    Consulting
      Agreement

    

    Parties:

    

    This
      Consulting Agreement is entered into, effective as of the 21st day of March
      2008, by and between Nutrition 21, Inc., having an office at 4 Manhattanville
      Road, Purchase, NY 10577 (the “Company”), and Michael A. Fink
      (“Consultant”).

     

    Description:

    

    Consultant
      will have the title of Co-CEO and will provide consulting services related
      to
      the Company’s business. Consultant will report to the Board of Directors.
      Consultant agrees to be present at Company’s offices three days per week, one
      day of which will be a day that the other Co-CEO is at the Company’s offices,
      subject to the needs of the business. The Co-CEOs shall arrange their schedules
      so that there is no business day on which neither Co-CEO is present at the
      Company’s offices 

    

    Personal
      Performance

    

    The
      consulting services described herein will be performed exclusively by Consultant
      personally and cannot be assigned to others. Consultant represents that he
      has
      not been debarred by the US. Food and Drug Administration. Further, Consultant
      agrees to make every reasonable effort to accommodate the Company’s scheduling
      needs.

    

    Consulting
      Period

    

    The
      consulting services will be provided for a period of six months commencing
      March
      21, 2008 unless the services are earlier terminated by either party as set
      forth
      below. 

    

    Fee
      Structure and Billing:

    

    The
      Company will compensate Consultant at a rate of $15,000 per month. Consultant
      will submit invoices for services monthly. 

    

    By
      separate grant letter, the Company will grant consultant a 5-year stock option
      to purchase 250,000 shares of the Company Common Stock at an exercise price
      of
      $0.41 per share. The Stock Option will vest at the expiration of the six-month
      consulting period if then a consultant to the Company or if the Consultant
      is
      terminated by the Company without cause before that date. 

    

    During
      the consulting period, the Company will reimburse Consultant for normal business
      expenses incurred on behalf of the Company, and will provide reimbursement
      for
      economy travel. All covered expenses will be billed by Consultant as out of
      pocket expenses. Consultant will submit expense vouchers and attach receipts
      for
      all reimbursable expenses on a bi-weekly basis. No other compensation or
      benefits related to the consulting services will be provided by the
      Company.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Other
      Clients

    

    The
      Company acknowledges that other parties may use Consultant’s consulting
      services, and it is understood and agreed that Consultant is not to disclose
      to
      the Company any confidential information of other parties.

    

    Confidentiality

    

    (a)
      During the period of Consultant providing consulting services to the Company,
      Consultant will acquire from the Company technical and commercial information
      which the Company considers to be proprietary and confidential (“Information”).
      Consultant agrees to keep confidential and not to use or divulge, except with
      the consent of the Company, any such Information as well as all information
      developed by Consultant as a result of services provided for the Company under
      this Agreement (“Developed Information”). Upon termination of this Agreement or
      at any other time the Company requests, Consultant will transmit to the Company
      any written, printed, or other materials embodying such Information or Developed
      Information, including all copies and excerpts thereof. These obligations on
      Consultant’s part with respect to the Company’s Information and Developed
      Information shall continue at all times during and beyond the Consulting Period.
      

    

    (b)
      Notwithstanding the above, this Agreement shall not restrict Consultant’s use or
      disclosure of any Information which: 

    

    
      	
            	i.	
              is
                or later becomes publicly known through no fault of
                Consultant;

            

    

    

    
      	
            	ii.	
              was
                already known to Consultant at the time of its receipt from the Company,
                as evidenced by Consultant's written records;
                or

            

    

    

    
      	
            	iii.	
              is
                lawfully and in good faith made available to Consultant by a third
                party
                without restriction and disclosure or
                use.

            

    

    

    (c)
      Specific information disclosed to Consultant by the Company or developed by
      Consultant in Consultant's consulting capacity to the Company shall not be
      deemed to be available to the public or in Consultant's prior possession merely
      because it is embraced by more general information available to the public
      or in
      Consultant's prior possession. 

    

    Inventions
      and Work Product

    

    Any
      and
      all inventions, discoveries, designs, or other work product (including Developed
      Information), whether or not patentable or registrable as copyrighted material
      or trademarks, which Consultant develops, conceives and/or makes within the
      Consulting Period, and for a period of one year following termination of the
      Consulting Period, related to Consultant's work for the Company hereunder or
      based on Information received from the Company (“Intellectual Property”), shall
      be promptly and fully disclosed to the Company and shall be the sole and
      exclusive property of the Company. Consultant will, at the request of the
      Company, promptly execute any and all applications, assignments or other
      instruments which the Company shall deem necessary or useful in order to convey
      to the Company the sole and exclusive right, title and interest in and to said
      Intellectual Property and in order to procure, maintain and enforce patent
      protection, copyright protection or other forms of protection world-wide for
      said Intellectual Property. The Company shall bear the costs of preparing and
      filing all said instruments.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Relationship
      of the Parties

    

    While
      providing services for the Company in a consulting capacity, Consultant will
      be
      acting as an independent contractor and not as an employee of the Company and
      Consultant will not be entitled to any of the benefits, direct or indirect,
      of
      an employee of the Company. 

    

    Termination
      

    

    Either
      party may terminate this Agreement on 30 days’ prior written notice. Upon
      termination by the Company, the balance of the consulting fees for the six
      month
      consulting period shall be due and payable. Upon termination by Consultant,
      the
      Company shall only be obligated to pay for consulting rendered up to the date
      of
      termination.

    

    Indemnification

    

    The
      Company shall indemnify Consultant to the fullest extent permitted by law for
      consulting services provided to the Company, including, but not limited to,
      fines judgments, expenses, and attorney’s fees.

    

    Survival

    

    All
      obligations which by their nature would continue beyond the termination of
      this
      Agreement, shall survive termination of this Agreement, including, but not
      limited to, confidentiality and assignment of inventions.

    

    Notices

    

    All
      notices or other communications required or permitted to be given hereunder
      shall be in writing. All such notices and other communications pursuant to
      the
      terms of this Agreement shall be deemed to have been duly given or delivered
      when delivered personally, or sent by telegram, facsimile with confirmation
      of
      receipt, courier service or by Certified Mail-return receipt requested, to
      the
      address first set forth above.

    

    Law
      Governing 

    

    The
      validity, interpretation and performance of this Agreement shall be governed
      and
      construed in accordance with the laws of the state of New York. 

    

    Arbitration

    

    All
      claims or controversies arising out of or relating to this Agreement shall
      be
      settled by arbitration. Either party may demand arbitration. Within 30 days
      after a demand for arbitration, each party shall select one arbitrator and
      the
      arbitrators shall select a third arbitrator. The arbitration shall be in
      accordance with the rules of the American Arbitration Association and be held
      in
      New York, New York. The arbitration award may be entered in any court of
      competent jurisdiction and enforced as any other judgment, decree or order
      of
      such court. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Complete
      Agreement 

    

    This
      Agreement contains all the understandings and representations between us
      relating to the matters referred to herein, supersedes any arrangements
      previously entered into with respect thereto, and can be amended only in a
      writing duly executed on behalf of each party. 

     

    
           

      
        	 Nutrition 21, Inc.	 	
                Michael
                  A. Fink 

              
	 	 	 	 
	 By: 	 /s/
                Benjamin T. Sporn	 	 /s/
                Michael A. Fink
	 	 	 	 
	 Name:
	 Benjamin
                T. Sporn	 	 
	 	 	 	 
	 Title:
                	 Vice
                PresidentExhibit
      10.3

    

    NUTRITION
      21, INC.

     

    To:
      

    

    Number
      of
      shares subject to Option(s): 250,000

    Nature
      of
      Option(s): incentive stock options to the extent permitted by law 

    Option
      Price: $0.41

    Date
      of
      Grant: March 21, 2008

    Expiration
      Date: March 20, 2013

    Vesting:
      September 21, 2008 if then a consultant to the Company, or if terminated by
      the
      Company other than for cause

    

    Dear
      Optionee:

    

    I
      am
      pleased to advise you that the Company has granted you a stock option pursuant
      to the Company's 2005
      Stock Plan (the “Plan”).

    

    Please
      sign one copy of this letter and return it to the Company to signify your
      agreement.

    

    1. Stock
      Option.
      Your
      option is to purchase the number of shares of our common stock set forth above
      (the "Option Shares") at the Option Price set forth above. Your option will
      expire at the close of business on the Expiration Date set forth above, subject
      to earlier termination as set forth below. 

    

    The
      reference above opposite "Nature of Option" indicates whether your option is
      an
      Incentive Stock Option or a Nonstatutory Option.

    

    2. Additional
      Items.
      Your
      Option and the Option Shares received upon the exercise are also subject to
      the
      following provisions:

    

    (a) Exercisability.
      If
      your
      consultancy to the Company shall terminate for any reason, your Option(s) shall
      thereafter be exercisable only to the extent that the Option is vested upon
      your
      termination. Such exercise must occur prior to the Expiration Date. In no event
      may you exercise any unvested portion of this option.

    

    (b) Procedure
      for Exercise.
      You may
      exercise all or any portion of your option, to the extent it is valid and
      outstanding, at any time and from time to time prior to its termination, by
      delivering to the Company (i) written notice containing the information and
      representations appearing on the form attached as an Exhibit, and (ii) payment
      of the Option Price.

    

    (c) Securities
      Laws Restrictions.
      You
      represent that when you exercise your option you will be purchasing Option
      Shares for your own account and not on behalf of others. You understand and
      acknowledge that federal and state securities laws govern and restrict your
      right to offer, sell or otherwise dispose of any Option Shares unless otherwise
      covered by a Form S-8 or unless your offer, sale or other disposition thereof
      is
      otherwise registered under the Securities Act of 1933, as amended, (the "1933
      Act") and state securities laws or, in the opinion of the Company's counsel,
      such offer, sales or other disposition is exempt from registration thereunder.
      You agree that you will not offer, sell or otherwise dispose of any Option
      Shares in any manner which would: (i) require the Company to file any
      registration statement (or similar filing under state laws) with the Securities
      and Exchange Commission or to amend or supplement any such filing or (ii)
      violate or cause the Company to violate the 1933 Act, the rules and regulations
      promulgated thereunder or any other state or federal law. You further understand
      that the certificates for any Option Shares you purchase will bear such legends
      as the Company deems necessary or desirable in connection with the 1933 Act
      or
      other rules, regulations or laws. If you are a director, officer or principal
      shareholder, Section 16(b) of the Securities Exchange Act of 1934 further
      restricts your ability to sell or otherwise dispose of Option
      Shares.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    3. Non-Transferability
      of Option.
      Your
      option is personal to you and is non-transferable by you other than by will
      or
      the laws of descent and distribution or as otherwise permitted by the Plan.
      During your lifetime only you can exercise your option except as otherwise
      permitted by the Plan. Upon your death, the person or persons to whom your
      rights pass by will or laws of descent and distribution will have the right
      to
      exercise your option.

    

    4. Withholding
      Taxes.

    

    (a)
      The
      Company shall have the right to withhold from your salary or other compensation
      any withholding taxes payable as a result of your receipt of Option Shares.
      The
      Company shall also have the right to require that you pay to it all such
      withholding taxes in cash as a condition precedent to the exercise of this
      Option.

    

    (b) 
      If this is an Incentive Stock Option and you dispose of shares purchased as
      a
      result of exercise within two years of the date hereof, the Company shall have
      the right to withhold from your salary or other compensation any withholding
      of
      taxes payable as a result of such disposition. The Company shall also have
      the
      right to require that you pay to it all such withholding taxes in cash as a
      condition precedent to the exercise of this Option.

    

    (c) 
      In the case of a disposition described in (b), you must give the Company written
      notice of such disposition within 30 days following the disposition, which
      notice shall include such information as the Company may reasonably request
      to
      effectuate the provisions hereof. 

    

    5. Conformity
      with Plan.
      Your
      option is intended to conform in all respects with, and is subject to all
      applicable provisions of, the Plan, which is incorporated herein by reference.
      Any inconsistencies between this letter and the Plan shall be resolved in
      accordance with the terms of the Plan. By executing and returning the enclosed
      copy of this letter, you acknowledge your receipt of the Plan and agree to
      be
      bound by all the terms of the Plan. All definitions stated in the Plan apply
      to
      this letter. YOU SHOULD READ THE PLAN CAREFULLY. 

    

    6. Consultant.
      Nothing
      herein confers any right or obligation on you to continue as a consultant to
      the
      Company or any subsidiary or shall affect in any way your right or the right
      of
      the Company or any subsidiary, as the case may be, to terminate your consultancy
      at any time. 

    

    7. Entire
      Agreement; etc.
      This
      agreement constitutes the entire understanding between you and the Company,
      and
      supersedes all other agreements, whether written or oral, with respect to the
      stock option referred to in this letter.
      notices
      hereunder to the Company shall be sent to the following address: Nutrition
      21,
      Inc., 4 Manhattanville Road, Purchase, NY 10577, USA, Attention: Vice President
      Legal; and any notice hereunder to the Grantee shall be sent to Grantee at
      Grantee’s residence or work location. The
      agreements contained in this letter shall be binding upon and inure to the
      benefit of the Company and its successors and assigns.

    

    Please
      sign the extra copy of this letter in the space below and return it to the
      Company to confirm your understanding and acceptance of the agreements contained
      in this letter.

    

    

    Very
      truly yours,

    

    NUTRITION
      21, INC.

    

    By____________________________

    

    

    Title:________________________

    CONFIRMED:

    

    _____________________

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    EXHIBIT

    

    Nutrition
      21, INC.

    

    Gentlemen:

    

    I
      hereby
      exercise the following portion of stock options that have heretofore been
      granted to me as follows:

    

    Date
      of
      grant ____________________________________

    

    Exercise
      price per share _________________________

    

    Number
      of
      options granted ________________________

    

    Number
      of
      options held ___________________________

    

    Number
      of
      options being exercised hereby _________

    

    
      	 	
              In
                connection with this exercise, I enclose my check in the amount of
                $___ in
                payment of the exercise price and all taxes which are required to
                be
                withheld in connection with my exercise.

            

    

    

    I
      hereby
      acknowledge that I have read and have been afforded an opportunity to ask
      questions of management regarding the company and all financial and other
      material provided to me and have received answers to such questions satisfactory
      to me.

    

    I
      hereby
      agree to execute whatever other documents are necessary in order to comply
      with
      the Plan and any applicable legal requirements in connection with the issuance
      of the stock to me pursuant to the Plan.

    

    If
      these
      are incentive stock options and I dispose of any shares purchased hereby within
      one year from the date hereof or
      within
      two years from the date the Company granted me the options exercised hereby,
      I
      understand that I must give the Company written notice of such disposition,
      which notice shall include such information as the Company may reasonably
      request to effectuate the provisions hereof.

    

    ______________________________ ______________________________

    Optionee
      (Signature)   
Social
      Security Number

    

    __
      __________________________________________________________

    

    ______________________________ ______________________________

    Date       
Address

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