Document:

f8k101409ex10_pashmina.htm

    Exhibit 10.58

     

     

    

     

    THIS
MASTER CAPITAL RAISING
AGREEMENT (this "Agreement"),
is entered into on July, 2009, by and between Pashminadepot.com,
Inc. ("THE
CLIENT") and SICG SA ("SICG").

    

     

    WHEREAS,
SICG represents that it has expertise in the area of providing high quality
capital raising support including: organizing professional road show
presentations, building a capital raising syndicate, identifying and contacting
retail and institutional investors, and helping build up an International
presence and reputation; and is ready, willing, and able to provide assistance
in that area to THE CLIENT on the terms and conditions set forth herein:
and

    

     

    WHEREAS,
THE CLIENT, in reliance on SICG's representations, is willing to engage SICG as
an independent contractor, and not as an employee, partner or joint venture, on
the terms and conditions set forth herein. By signing a copy of this agreement
you agree to appoint SICG as your exclusive Broker and Corporate Adviser. SICG
will have the exclusive authority to work with other advisers and subcontractors
in executing this agreement on a carve out basis.

    

    NOW
THEREFORE, in consideration of the obligations herein made and undertaken, the
parties, intending to be legally bound, covenant and agree as
follows:

    

    Section
1

    

    SCOPE
OF SERVICES

    

    1.1           SICG
shall provide capital raising consulting services (the "Services")
in assisting

     

    THE
CLIENT with communicating their message to qualified international
investors.

    

    SICG
shall render the Services and deliver the required services and other
deliverables ("Deliverables")
in accordance with the timetable set forth in Exhibit A. If SICG
anticipates at any time that it will not complete one or more assignments within
the prescribed timetable, SICG shall immediately so inform THE CLIENT by written
notice, submit proposed revisions to the timetable that reflect SICG's best
estimates of what can realistically be achieved, and continue to work under the
original timetable until otherwise directed by THE CLIENT. SICG shall also
prepare and submit such further reports of its performance and its progress as
THE CLIENT may reasonably request from time to time.

     

    1.2 THE
CLIENT shall provide for itself such time and resources as shall be necessary to
perform the consulting services called for by this Agreement.

     

    1.3 THE
CLIENT shall, within two days of receipt of each invoice submitted to THE
CLIENT, advise SICG of the acceptance or rejection by THE CLIENT of such
invoice. Any rejection shall specify the nature and scope of the deficiencies in
such invoice. SICG shall, upon receipt of such a notice of rejection, act
diligently to correct such deficiencies. The failure of THE CLIENT to provide
such a notice of rejection within such period shall constitute acceptance by THE
CLIENT of said invoice.

    
       

       

      P +41(0)
22 316 1633    www.investinswiss.com

      F -M1{0)
22 316 1639    E-Mail info@sicg.com

      16, rue de la Patisserie - CH 1204 Geneva - Switzerland

       

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    1.4 The
Services shall be performed at SICG's offices and other reserved venues unless
THE CLIENT requires otherwise and the Services shall be performed in a
workmanlike and professional manner by employees of SICG having a level of skill
in the area commensurate with the requirements of the scope of work to be
performed.

     

    1.5 Anything
herein to the contrary notwithstanding, the parties hereby acknowledge and agree
that THE CLIENT shall have no right to control the manner, means, or method by
which SICG performs the Services called for by this Agreement. Rather, THE
CLIENT shall be entitled only to consult with respect to the elements of the
Services to be performed by, and to review and assess the performance of the
Services by SICG for the limited purposes of assuring that the Services have
been performed and confirming that such results are satisfactory. SICG shall
perform the Services in accordance with all applicable laws, rules and
regulations.

    

    Section
2

    

    TERMS
OF AGREEMENT

     

    2.1 This
Agreement shall commence on the date specified in Exhibit A, and unless modified
by mutual agreement of the parties or terminated earlier pursuant to the terms
of this Agreement, shall continue in effect for a period of one year from
inception.

     

    2.2 This
Agreement may be terminated by either party after one year at the end of each
calendar month upon 30 days' prior written notice, if the other party breaches
any material term hereof and the breaching party fails to cure such breach
within the 30-day period. THE CLIENT will not compensate SICG for the remainder
of the contract beyond any outstanding actual out-of-pocket
expenses.

     

    2.3 Upon
termination of this Agreement for any reason, SICG shall promptly return to THE
CLIENT all copies of any data, records, or materials of whatever nature or kind,
belonging to THE CLIENT, including all materials incorporating the proprietary
information of THE CLIENT.

     

    2.4 Within 30
days of termination of this Agreement for any reason, SICG shall submit to THE
CLIENT an itemized invoice for any fees or expenses previously accrued under
this Agreement. THE CLIENT, upon payment of accrued amounts so invoiced, shall
thereafter have no further liability or obligation to SICG whatsoever for any
further fees, expenses, or other payment.

    

    Section
3

    

    FEES,
EXPENSES, AND PAYMENT

     

    3.1 In
consideration of the services to be performed by SICG, THE CLIENT shall pay SICG
the fees set forth in Exhibit A attached hereto.

     

    3.2 In
addition to the foregoing, THE CLIENT shall pay SICG its actual out-of-pocket
expenses, approved in advance by THE CLIENT, which are reasonable and necessary
for SICG to incur in furtherance of its performance hereunder. SICG will provide
THE CLIENT with access to such original receipts, ledgers, and other records as
may be reasonably appropriate for THE CLIENT or the Clients or the accountants
of both or to verify the amount and nature of any such expenses.

    
       

       

      
         

        P +41(0)
22 316 1633    www.investinswiss.com

        F -M1{0)
22 316 1639    E-Mail info@sicg.com

        16, rue de la Patisserie - CH 1204 Geneva -
Switzerland

      

       

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3.3 If SICG
terminates this Agreement because of the breach of THE CLIENT, SICG shall be
entitled to a full payment for work in progress. THE CLIENT will compensate SICG
for the remaining duration of the contract as set forth in Exhibit
A.

     

    3.4 The fees
and charges of SICG for any follow-on or additional work not covered in the
scope of work described in Exhibit A shall be performed at the then-current
rates for such work charged by SICG to its best customers.

     

    3.5 THE
CLIENT shall pay all fees and expenses owing to SICG hereunder within 10 days
after THE CLIENT has received an official invoice.

    

    Section
4

    

    CONFIDENTIALITY

     

    4.1 All
right, title, and interest in and to the programs, systems, data, or materials
utilized or produced by SICG in the performance of the Services shall remain the
property of SICG.

     

    4.2 All
right, title, and interest in and to all of THE CLIENT'S presentation material,
including all rights in copyright that may subsist therein, shall belong to THE
CLIENT.

    

    Section
5

    

    PROPRIETARY
INFORMATION

     

    5.1 SICG
acknowledges that in order to perform the Services called for in this Agreement,
it may be necessary for THE CLIENT to disclose to SICG certain Trade Secrets
that have been developed by THE CLIENT at great expense and that have required
considerable effort of skilled professionals. SICG shall not disclose, transfer,
use, copy, or allow access to any such Trade Secrets to any employees or to any
third parties, excepting those who have a need to know such Trade Secrets
consistent with the requirements of this Agreement and who have undertaken a
written obligation of confidentiality and limitation of use. In no event shall
SICG disclose any such Trade Secrets to any competitors of THE
CLIENT.

     

    5.2 As used
herein, the term "Trade Secrets" shall mean any proprietary business practice,
information, design, process, procedure, formula, or improvement that is not
generally known to the general public or the competitors of THE CLIENT. The
obligations set forth in Sections 5.1 shall survive the termination of this
Agreement and continue for so long as the material remains a Trade
Secret.

    

    Section
6

    

    WARRANTIES
AND REPRESENTATIONS

     

    6.1 THE
CLIENT warrants that it is legally allowed to enter this Agreement with SICG
hereunder.

     

    6.2 SICG has
the necessary power to enter this Agreement and to consummate the transactions
contemplated in this Agreement.

    
       

       

      
         

        P +41(0)
22 316 1633    www.investinswiss.com

        F -M1{0)
22 316 1639    E-Mail info@sicg.com

        16, rue de la Patisserie - CH 1204 Geneva -
Switzerland

      

       

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    6.3 The
execution and delivery by SICG of this Agreement and the consummation of the
transactions contemplated in this Agreement will not result in any violation of,
or be in conflict with, or constitute a default under, any agreement or
instrument to which SICG is bound, or any judgment, decree, order, or any
statute, rule or regulation applicable to SICG.

     

    6.4 SICG
warrants that it will organize all of the agreed services as outlined in Exhibit
A. SICG will follow up with all of interested parties and leads for the purpose
of introducing THE CLIENT'S company and investment outlook. Although SICG will
use its best efforts, SICG makes no representations or warranties that THE
CLIENT will receive any actual new investments as a result of the campaign.
Several external factors outside of SICG's control will influence investment
including the quality of the presentation, THE CLIENT'S historical track record,
the appeal of THE CLIENT'S business strategy and the overall outlook for the
global capital markets.

     

    Section
7

    

    INDEMNIFICATION

    

    7.1 THE CLIENT hereby
indemnifies and agrees to hold harmless SICG from and against any and all
claims, demands, and actions, and any liabilities, damages, or expenses
resulting there from, including court costs and reasonable attorney fees
(collectively the "Liabilities''), arising out of or relating to the Services,
except in the event the Liabilities were the indirect or direct result of or
related to fraud or negligence by SICG. SICG's obligations under this section
shall survive the termination of this Agreement for any reason. THE CLIENT
agrees to indemnify and hold harmless SICG from any untrue statement of material
fact or material omissions contained in any offering documentation or other
written statements relating to THE CLIENT approved by THE CLIENT.

    

    Section
8 MISCELLANEOUS

     

    8.1 SICG shall not assign,
transfer, or subcontract this Agreement or any of its obligations hereunder
without the prior written consent of THE CLIENT.

     

    8.2 This
Agreement shall be governed and construed in all respects in accordance with the
substantive laws of Switzerland, and all conflicts arising out of this Agreement
shall be settled in Geneva. The place of performance, the jurisdiction for
clients domiciled abroad and the sole jurisdiction for any proceedings is
Geneva. SICG does reserve the right to institute action before any other
competent court and particularly the court of THE CLIENT'S domicile, but Swiss
law shall remain applicable.

     

    8.3 The
parties are and shall be independent contractors to one another, and nothing
herein shall be deemed to cause this Agreement to create an agency, partnership,
or joint venture between the parties. THE CLIENT shall not be liable for any
debts, accounts, obligations, or other liabilities whatsoever of
SICG.

    
       

       

      
         

        P +41(0)
22 316 1633    www.investinswiss.com

        F -M1{0)
22 316 1639    E-Mail info@sicg.com

        16, rue de la Patisserie - CH 1204 Geneva -
Switzerland

      

       

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    8.4 All remedies available to
either party for one or more breaches by the other party are and shall be deemed
cumulative and may be exercised separately or concurrently without waiver of any
other remedies. The failure of either party to act on a breach of this Agreement
by the other shall not be deemed a waiver of such breach or a waiver of future
breaches, unless such waiver shall be in writing and signed by the party against
whom enforcement is sought.

    

    IN WITNESS
WHEREOF, the parties hereto have executed this Agreement as of the day
and year written hereunder.

     

    
      	    For and on
      behalf of:	 SICG SA -Swiss
      Investment Consulting Group
	 	 
	 	 
	
                  Place and Date:
      

               

            	 GENEVA,
      SWITZERLAND  30 JUNE 2009
	 	 
	    Full
      Name:	Mr. Clive HARBUTT

              Founder
      and Managing Partner

            
	 	 
	    Address:	
              16
      rue de la Pelisserie

              1204
      Geneva, SWITZERLAND

            
	    Signature:	
               

              /s/  C. HARBUTT

            
	 	 
	    For and on
      behalf of:	
              Pashminadepot.com, Inc.

            
	    Place and
      Date:	
               

               

              Cool Sprigs FL 33065

            
	
                  Full
      Name:

            	
               

               

              Edward Sanders

            
	    Address:	
               

               

              9694 Rayal Palm Blvd.

            
	    Signature:	
               

               

              /s/  Edward Sanders

            

    

     

    
       

      
        
          P +41(0)
22 316 1633    www.investinswiss.com

          F -M1{0)
22 316 1639    E-Mail info@sicg.com

          16, rue de la Patisserie - CH 1204 Geneva - Switzerland

           

        

      

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    THE
SERVICES

    

    Start
Date - August, 2009

    

    Detailed
Description of the Services

    

    Upon
execution of this agreement, SICG SA will commence a detailed Capital Raising
campaign for THE CLIENT. Initially, SICG will take the needed time to fully
learn THE Client's business. SICG will review all of THE Client's marketing and
presentation materials and make suggestions for improvements.

    

    The
primary purpose of the campaign will be to introduce THE CLIENT to qualified
investors. SICG will accomplish this through several means. Specifically, SICG
will use the following methods and resources:

     

    1.  Public
Relations / Capital Raising Campaign:

    

    
      	
                  a.

            	
              SICG
      will use its wide ranging industry contacts to assist THE CLIENT with
      raising capital in the international markets.

            
	 	 
	
                  b.

            	SICG
      will initiate a press and media campaign to increase exposure for THE
      CLIENT. SICG will arrange several and frequent media appearances
      for key team members of THE CLIENT with sources such as
      CNBC Europe, Bloomberg Europe and the financial
      press.
	 	 
	
                  c.

            	
              SICG
      will help organize an effective European press release distribution service
      to keep institutional investors updated.

            
	 	 
	
                  d.

            	
              SICG
      will help to build key strategic European alliances to enhance THE CLIENT'S
      shareholder base and increase the market
  liquidity.

            

    

     

    
    

    2.   Organization
of Capital Raising Road Show presentations:

     

    
      	
                  a.

            	
              Theses
      presentations will take place on dates and locations to be determined.

            
	 	 
	
                  b.

            	
              SICG
      will book the appropriate venue, coordinate with the hotel on menu and
      beverage selection, send personal invitations to attendees, and follow
      up to insure maximum participation. SICG will further work with THE
      CLIENT to review their presentation and make suggestions. SICG will
      personally inspect each presentation venue and coordinate for proper
      lighting, podium, computer,
      etc.

            
	 	 
	    c.	
              SICG
      will follow up on THE CLIENT'S behalf with all presentation attendees
      for the specific purpose of having them invest in THE CLIENT'S
      company. Although SICG will use its best efforts, there are no guarantees
      any new investors will commit only from the road
      show.

            

    

     

    
      
        P +41(0)
22 316 1633    www.investinswiss.com

        F -M1{0)
22 316 1639    E-Mail info@sicg.com

        16, rue de la Patisserie - CH 1204 Geneva -
Switzerland

      

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
    

     

    
    

    
    

    
    

    
    

    
    

    
    

    
    

    
    

    
    

    
    

    
    

    Performance
linked compensation

    

    SICG will
be eligible to receive commission based compensation in the event any investor
participates in a future financing or commercial transaction offered by THE
CLIENT provided the commission is compliant with the relevant securities laws.
In the event of any successful financing, TH E CLIENT will pay 10% of the gross
proceeds of the successful financing to SICG. In addition, the Company shall
issue to SICG common stock warrants to purchase 10% of the number of shares sold
by the Company in a successful financing on the same terms and conditions
offered to the investors in the financing. SICG will be solely responsible for
managing the capital raising syndicate; comprised of various sub agents SICG
decides to appoint.

    

    Each
commercial event will be negotiated on a case by case basis. The material terms
of any commercial event shall be determined by THE CLIENT and SICG and shall
comply with all applicable laws, rules and regulations.

    

    For
Road Shows, THE CLIENT agrees to the following:

    

    The costs
associated with the presentation will be passed on directly to THE CLIENT. The
terms are one half due immediately upon invoice to allow SICG to pay deposits to
book the venues and one half due a week before the initial presentation. The
upfront fee includes: booking the venue, paying for the luncheon, printing and
mailing invitations, telephone, office and administration charges and SICG's
travel to and from the presentations. The fee does not include additional
expenses including: THE CLIENT'S travel costs to Europe, THE CLIENT'S travel
costs within Europe or additional services performed by SICG for THE CLIENT not
covered by this Agreement as agreed to in section 3.2.

    

    All
marketing materials and road show materials shall be reviewed and approved by
THE CLIENT in advance of use.

    
       

      
        P +41(0)
22 316 1633    www.investinswiss.com

        F -M1{0)
22 316 1639    E-Mail info@sicg.com

        16, rue de la Patisserie - CH 1204 Geneva - Switzerland

         

      

    

    
      
         

      

      
        7f8k101909ex10i_nxt.htm

     

    Exhibit
10.1

     

    DIRECTOR
AGREEMENT

     

    This DIRECTOR AGREEMENT is made as of
this 19th day
of October, 2009 (the "Agreement"), by and between NXT Nutritionals Holdings,
Inc., a Delaware corporation (the "Company") and Ann McBrien (the
“Director”).

    

    WHEREAS, the Company appointed the
Director as a member of the Board of Directors of the Company on October 19,
2009 and desires to enter into an agreement with the Director with respect to
such appointment; and

    

    WHEREAS, the Director wishes to accept
such appointment and to serve the Company on the terms set forth herein, and in
accordance with, the provisions of this Agreement.

    

    NOW, THEREFORE, in consideration of the
mutual covenants contained herein, the parties hereto agree as
follows:

    

    1.           Position.  Subject
to the terms and provisions of this Agreement, the Company shall cause the
Director to be appointed as non-executive member of the Board of Directors (the
“Board”) to fill an existing but now vacant directorship and the Director hereby
agrees to serve the Company in that position upon the terms and conditions
hereinafter set forth, provided, however, that the Director's continued service
on the Board after the initial term on the Board shall be subject to any
necessary approval by the Company's stockholders. This Agreement is subject to
the satisfactory completion of a third party background check within sixty (60)
days of the date hereof.

     

    2.           Duties.  During
the Directorship Term (as defined in Section 5 hereof), the Director shall serve
as a member of the Board, and the Director shall make reasonable business
efforts to attend all Board meetings, serve on appropriate subcommittees as
reasonably requested by the Board, make herself available to the Company at
mutually convenient times and places, attend external meetings and
presentations, as appropriate and convenient, and perform such duties, services
and responsibilities and have the authority commensurate to such
position.

    

    The Director will use her best efforts
to promote the interests of the Company. The Company recognizes that the
Director (i) is or may become a full-time executive employee of another entity
and that her responsibilities to such entity must have priority and (ii) sits on
the Board of Directors of other entities.  Notwithstanding same, the
Director will use reasonable business efforts to coordinate her respective
commitments so as to fulfill her obligations to the Company and, in any event,
will fulfill her legal obligations as a director. Other than as set forth above,
the Director will not, without the prior notification to the Board, engage in
any other business activity which could materially interfere with the
performance of her duties, services and responsibilities hereunder or which is
in violation of the reasonable policies established from time to time by the
Company, provided that the foregoing shall in no way limit her activities on
behalf of (i) her current employer and its affiliates or (ii) the Board of
Directors of those entities on which he sits.  At such time as the
Board receives such notification, the Board may require the resignation of the
Director if it determines that such business activity does in fact materially
interfere with the performance of the Director’s duties, services and
responsibilities hereunder.

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    
 

    3.            Board
Committees.   The Director hereby agrees to serve on or
head a to-be-determined Committee of the Board at the Company’s discretion and
to perform all of the duties, services and responsibilities necessary
thereunder.

    

    4.           Monetary
Remuneration.

    

    (a)  Fees and
Compensation.  During the Directorship Term the Director shall receive
the following compensation and benefits:

    

    
      	
               
      

            	
              —

            	
              A
      cash payment of $2,000 per meeting of the Board of Directors in which the
      Director is in attendance.

            

    

    

    The
Director's status during the Directorship Term shall be that of an independent
contractor and not, for any purpose, that of an employee or agent with authority
to bind the Company in any respect. All payments and other consideration made or
provided to the Director under Section 4 shall be made or provided without
withholding or deduction of any kind, and the Director shall assume sole
responsibility for discharging, all tax or other obligations associated
therewith.

    

    (b)
Restricted Stock Award.  For services rendered, the Director shall
receive 250,000 shares of the Company’s common stock (the “Initial Award”) upon
execution of this Agreement.  If the members of the Board of Directors
make introductions and facilitate meetings during the Directorship Term that
lead to the consummation of business deals by the Company other than through the
existing contacts of the Company, the Director shall receive additional shares
(“Stock Award”) of the Company’s common stock based on the amount of revenues
generated by such business deals, regardless of whether the Directorship Term
has expired, according to the following schedule:

    

    
      	
              ·  

            	
              250,000
      shares of the Company’s common stock for the first $2.5 million in
      revenues generated collectively by the
  Directors;

            

    

    
      	
              ·  

            	
              250,000
      shares of the Company’s common stock for the next additional $2.5 million
      in revenues generated collectively by the Directors, representing a total
      of $5 million in revenues; and

            

    

    
      	
              ·  

            	
              250,000
      shares of the Company’s common stock for the next additional $2.5 million
      in revenues generated collectively by the Directors, representing a total
      of $7.5 million in revenues.

            

    

    

    In the
event that a change of control occurs resulting from (i) a merger of the Company
into or with another person or any sale or transfer of the equity interests of
the Company in any such case in which the equity holders of the Company
immediately prior to such transaction possess less than 50% of the Company’s or
the surviving entity's issued and outstanding equity interests immediately after
such transaction; or (ii) the sale by the Company of all or substantially all of
its assets, the entire 750,000 shares of the Stock Award shall immediately vest
and be issued to the Director.

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
 

    (c) Expense
Reimbursements.  During the Directorship Term, the Company shall
reimburse the Director for all reasonable out-of-pocket expenses incurred by the
Director in attending any in-person meetings, provided that the Director
complies with the generally applicable policies, practices and procedures of the
Company for submission of expense reports, receipts or similar documentation of
such expenses. Any reimbursements for allocated expenses (as compared to
out-of-pocket expenses of the Director) must be approved in advance by the
Company.

    

    5.           Directorship
Term.  The "Directorship Term", as used in this Agreement,
shall mean the period commencing on the date hereof and terminating on the
earliest of the following to occur:

    

    
      (a)  one (1)
year from the date hereof, subject to a one (1) year renewal term upon
re-election by a majority of the shareholders of the Company;

    

    

    (b) the
death of the Director ("Death");

    

    (c) the termination of the Director
from the position of member of the Board by the mutual agreement of the Company
and the Director;

    

    (d) the removal of the Director from
the Board by the shareholders of the Company;

     

    (e) the
resignation by the Director from the Board if after the date hereof, the Chief
Executive Officer of her current employer determines that the Director's
continued service on the Board conflicts with her fiduciary obligations to her
current employer (a "Fiduciary Resignation"); and

     

    (f) the
resignation by the Director from the Board if the board of directors or the
Chief Executive Officer of her current employer requires the Director to resign
and such resignation is not a Fiduciary Resignation.

    

    6.           Director's Representation
and Acknowledgment.  The Director represents to the Company
that her execution and performance of this Agreement shall not be in violation
of any agreement or obligation (whether or not written) that he may have with or
to any person or entity, including without limitation, any prior employer. The
Director hereby acknowledges and agrees that this Agreement (and any other
agreement or obligation referred to herein) shall be an obligation solely of the
Company, and the Director shall have no recourse whatsoever against any
stockholder of the Company or any of their respective affiliates with regard to
this Agreement.

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
 

    7.  Director
Covenants.

    

    (a)  Unauthorized
Disclosure.  The Director agrees and understands that in the
Director's position with the Company, the Director has been and will be exposed
to and receive information relating to the confidential affairs of the Company,
including but not limited to technical information, business and marketing
plans, strategies, customer information, other information concerning the
Company's products, promotions, development, financing, expansion plans,
business policies and practices, and other forms of information considered by
the Company to be confidential and in the nature of trade secrets. The Director
agrees that during the Directorship Term and thereafter, the Director will keep
such information confidential and will not disclose such information, either
directly or indirectly, to any third person or entity without the prior written
consent of the Company; provided, however, that (i) the Director shall have no
such obligation to the extent such information is or becomes publicly known or
generally known in the Company's industry other than as a result of the
Director's breach of her obligations hereunder and (ii) the Director may, after
giving prior notice to the Company to the extent practicable under the
circumstances, disclose such information to the extent required by applicable
laws or governmental regulations or judicial or regulatory process. This
confidentiality covenant has no temporal, geographical or territorial
restriction. Upon termination of the Directorship Term, the Director will
promptly return to the Company all property, keys, notes, memoranda, writings,
lists, files, reports, customer lists, correspondence, tapes, disks, cards,
surveys, maps, logs, machines, technical data or any other tangible product or
document which has been produced by, received by or otherwise submitted to the
Director in the course or otherwise as a result of the Director's position with
the Company during or prior to the Directorship Term, provided that, the Company
shall retain such materials and make them available to the Director if requested
by her in connection with any litigation against the Director under
circumstances in which (i) the Director demonstrates to the reasonable
satisfaction of the Company that the materials are necessary to her defense in
the litigation, and (ii) the confidentiality of the materials is preserved to
the reasonable satisfaction of the Company.

    

    (b)  Non-Solicitation.  During
the Directorship Term and for a period of three (3) years thereafter, the
Director shall not interfere with the Company's relationship with, or endeavor
to entice away from the Company, any person who, on the date of the termination
of the Directorship Term, was an employee or customer of the Company or
otherwise had a material business relationship with the Company.

     

    (c)  Remedies.  The
Director agrees that any breach of the terms of this Section 7 would result in
irreparable injury and damage to the Company for which the Company would have no
adequate remedy at law; the Director therefore also agrees that in the event of
said breach or any threat of breach, the Company shall be entitled to an
immediate injunction and restraining order to prevent such breach and/or
threatened breach and/or continued breach by the Director and/or any and all
entities acting for and/or with the Director, without having to prove damages,
in addition to any other remedies to which the Company may be entitled at law or
in equity. The terms of this paragraph shall not prevent the Company from
pursuing any other available remedies for any breach or threatened breach
hereof, including but not limited to the recovery of damages from the Director.
The Director acknowledges that the Company would not have entered into this
Agreement had the Director not agreed to the provisions of this Section
7.

     

     

    
      
        
        

      

      
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    The provisions of this Section 7 shall
survive any termination of the Directorship Term, and the existence of any claim
or cause of action by the Director against the Company, whether predicated on
this Agreement or otherwise, shall not constitute a defense to the enforcement
by the Company of the covenants and agreements of this Section 7.

    

    8.           Indemnification.  The
Company agrees to indemnify the Director for her activities as a director of the
Company to the fullest extent permitted by law, and to cover the Director under
any directors and officers liability insurance obtained by the
Company.  Further, the Company and the Director agree to enter into an
indemnification agreement substantially in the form of agreement entered into by
the Company and its other Board members.

     

    9.           Non-Waiver of
Rights.  The failure to enforce at any time the provisions of
this Agreement or to require at any time performance by the other party of any
of the provisions hereof shall in no way be construed to be a waiver of such
provisions or to affect either the validity of this Agreement or any part
hereof, or the right of either party to enforce each and every provision in
accordance with its terms. No waiver by either party hereto of any breach by the
other party hereto of any provision of this Agreement to be performed by such
other party shall be deemed a waiver of similar or dissimilar provisions at that
time or at any prior or subsequent time.

    

    10.           Notices.  Every
notice relating to this Agreement shall be in writing and shall be given by
personal delivery or by registered or certified mail, postage prepaid, return
receipt requested; to:

    

    If to the Company:

    

    NXT Nutritionals Holdings,
Inc.

    59 Jackson Street

    Holyoke,
MA 01040

    

    with a copy to:

     
 

    Anslow & Jaclin, LLP

    195 Route
9 South, Suite 204

    Manalapan,
NJ 07726

    

    If to the Director:

    

    Ann E. McBrien

    7
Tamarade Drive

    Littleton,
CO  80127

    

    Either of the parties hereto may change
their address for purposes of notice hereunder by giving notice in writing to
such other party pursuant to this Section 10.

     

     

    
      
        
        

      

      
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    11.           Binding
Effect/Assignment.  This Agreement shall inure to the benefit
of and be binding upon the parties hereto and their respective heirs, executors,
personal representatives, estates, successors (including, without limitation, by
way of merger) and assigns. Notwithstanding the provisions of the immediately
preceding sentence, neither the Director nor the Company shall assign all or any
portion of this Agreement without the prior written consent of the other
party.

     

    12.           Entire
Agreement.  This Agreement (together with the other agreements
referred to herein) sets forth the entire understanding of the parties hereto
with respect to the subject matter hereof and supersedes all prior agreements,
written or oral, between them as to such subject matter.

     

    13.           Severability.  If
any provision of this Agreement, or any application thereof to any
circumstances, is invalid, in whole or in part, such provision or application
shall to that extent be severable and shall not affect other provisions or
applications of this Agreement.

     

    14.           Governing
Law.  This Agreement shall be governed by and construed in
accordance with the internal laws of the State of Delaware, without reference to
the principles of conflict of laws. All actions and proceedings arising out of
or relating to this Agreement shall be heard and determined in any Delaware
state or federal court and the parties hereto hereby consent to the jurisdiction
of such courts in any such action or proceeding; provided, however, that neither
party shall commence any such action or proceeding unless prior thereto the
parties have in good faith attempted to resolve the claim, dispute or cause of
action which is the subject of such action or proceeding through mediation by an
independent third party.

     

    15.           Legal
Fees.  The parties hereto agree that the non-prevailing party
in any dispute, claim, action or proceeding between the parties hereto arising
out of or relating to the terms and conditions of this Agreement or any
provision thereof (a "Dispute"), shall reimburse the prevailing party for
reasonable attorney's fees and expenses incurred by the prevailing party in
connection with such Dispute; provided, however, that the Director shall only be
required to reimburse the Company for its fees and expenses incurred in
connection with a Dispute, if the Director's position in such Dispute was found
by the court, arbitrator or other person or entity presiding over such Dispute
to be frivolous or advanced not in good faith.

     

    16.           Modifications.  Neither
this Agreement nor any provision hereof may be modified, altered, amended or
waived except by an instrument in writing duly signed by the party to be
charged.

     

    17.           Tense and
Headings.  Whenever any words used herein are in the singular
form, they shall be construed as though they were also used in the plural form
in all cases where they would so apply. The headings contained herein are solely
for the purposes of reference, are not part of this Agreement and shall not in
any way affect the meaning or interpretation of this Agreement.

     

     

    
      
        
        

      

      
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    18.           Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed to be an original but all of which together shall constitute one and the
same instrument.

    

    

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    IN
WITNESS WHEREOF, the Company has caused this Director Agreement to be executed
by authority of its Board of Directors, and the Director has hereunto set her
hand, on the day and year first above written.

    

    

    NXT
NUTRITIONALS HOLDINGS, INC.

     

    By:   /s/
Michael McCarthy

    Name:  Michael
McCarthy

    Title:    Chief
Executive Officer

    

    
 

    DIRECTOR

     

    /s/ Ann
McBrien                                                      

    Name:   Ann
McBrien

    

    
 

     8

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