Document:

oxysures1051509ex10_4.htm

    
      

      

    

    

      Exhibit
10.4    Intellectual Property Assignment
Agreement

      

      EMPLOYMENT
AGREEMENT

      

      THIS
EMPLOYMENT AGREEMENT (hereinafter referred to as the "Agreement") is made and
entered into as of the  day of, 20
(“Inception Date”), by and between OXYSURE SYSTEMS, INC., a
corporation duly organized and existing pursuant to the laws of the state of
Delaware, (hereinafter referred to as "OSI" or the “Company”), and  (hereinafter referred to
as the "Employee").

      

      W I T N E S S E T
H:

      

      WHEREAS, the Company desires to have
the benefit of the Employee's efforts and services;

      

      WHEREAS, the Company recognizes that
circumstances may arise which may cause uncertainty of continued employment of
the Employee without regard to the Employee's competence or past
contributions;

      

      WHEREAS, such uncertainties may result
in the loss of valuable services of the Employee to the detriment of the Company
and its shareholders;

      

      WHEREAS, the Employee will be in a
better position to consider the best interests of the Company if the Employee is
afforded reasonable security, as provided in this Agreement, against altered
conditions of employment which may result from situations now unknown,
and

      

      NOW, THEREFORE, in consideration of the
foregoing and of the mutual covenants and agreements hereinafter set forth, the
parties hereto mutually covenant and agree as follows:

      

      1.           DEFINITIONS.  Whenever
used in this Agreement, the following terms shall have the meanings set forth
below:

       

      
                       (a)    "Accrued
Benefits" shall mean the amount payable not later than fifteen (15) days
following an applicable Termination Date and which shall be equal to the sum of
the following amounts:

      

      
        
          
          

        

      

      

      (i)           All
salary earned or accrued through the Termination Date;

       

      (ii)    Reimbursement
for any and all moneys advanced in connection with the Employee's employment for
pre-approved, reasonable and necessary expenses incurred by the Employee through
the Termination Date;

      
        
          
          

        

      

      
        (iii)    Any
and all other cash benefits previously earned through the Termination Date and
deferred at the election of the Employee or pursuant to any deferred
compensation plans then in effect;

      

      
        
          
          

        

      

      

        (iv)    The
full amount of any stated bonus payable to the Employee with respect to the year
in which termination occurs provided that the events necessary to have earned
said bonus have been achieved; and

      

      
        
          
          

        

      

       

      
        (v)    All
other payments and benefits to which the Employee may be entitled under the
terms of any benefit plan of the Company.

      

      
        

          
            
               

            

            
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      (b)           "Act"
shall mean the Securities Exchange Act of 1934;

       

      
                        (c)    "Affiliate"
shall have the same meaning as given to that term in Rule 12b-2 of Regulation
12B promulgated under the Act;

      

      
        (d)    "Base Period
Income" shall be an amount equal to the Employee's annualized compensation
calculated pursuant to section 6 herein for the initial term of this
agreement;

      

       

      (e)           "Board"
shall mean the Board of Directors of the Company;

       

      
        (f)    "Cause" shall
mean any of the following:

      

       

      
        (i)    The
engaging by the Employee in fraudulent conduct, as evidenced by a determination
in a binding and final judgment, order or decree of a court or administrative
agency of competent jurisdiction, in effect after exhaustion or lapse of all
rights of appeal, in an action, suit or proceeding, whether civil, criminal,
administrative or investigative, which the Board determines, in its sole
discretion, has a significant adverse impact on the Company in the conduct of
the Company's business;

      

      (ii)           Conviction
of a felony, as evidenced by a binding and final judgment, order or decree of a
court of competent jurisdiction, in effect after exhaustion or lapse of all
rights of appeal, which the Board determines, in its sole discretion, has a
significant adverse impact on the Company in the conduct of the Company's
business;

      

      (iii)             Neglect
or refusal by the Employee to perform the Employee's duties or responsibilities;
or

       

      
        (v)    A violation
by the Employee of the Company's policies and procedures; or

      

       

      Notwithstanding the foregoing, Cause
shall not exist under Sections 1(f) (iii) and (iv) herein unless the Company
furnishes written notice to the Employee of the specific offending conduct and
the Employee fails to correct such offending conduct within the thirty
(30) day period commencing on the receipt of such notice.

       

      (g)    "Code" shall
mean the Internal Revenue Code of 1986, as amended from time to time;

      (h)    “Consolidated
Group” means and
includes the Company, all of OSI’s current or future subsidiaries and any other
corporations or divisions thereof, which are hereafter acquired by or
consolidated with the OSI and which collectively carry on the business of OSI,
the Company or any part thereof.;

       

      (i)           "Notice
of Termination" shall mean the notice described in Section 10
herein;

       

      
        (j)    "Person" shall
mean any individual, partnership, joint venture, association, trust, corporation
or other entity, other than an employee benefit plan of the Company or an entity
organized, appointed or established pursuant to the terms of any such benefit
plan;

      

      
        (k)    "Termination
Date" shall mean, except as otherwise provided in Section 10
herein,

      

       

      (i)           The
Employee's date of death;

      

      (ii)           Thirty
(30) days after the delivery of the Notice of Termination if the Employee's
employment is terminated by the Employee voluntarily; and

        
          
             

          

          
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      (iii)           Seven
(7) days after the delivery of the Notice of Termination if the Employee's
employment is terminated by the Company for any reason other than cause; except
that if such termination occurs during the first 2 months of service, then it
shall be zero (0) days.

      

      2           EMPLOYMENT.

      

      The
Company hereby agrees to employ the Employee and the Employee hereby agrees to
serve the Company, on the terms and conditions set forth herein.

      

      3.           TERM.

      

      The
employment of the Employee by the Company pursuant to the provisions of this
Agreement shall commence on the date of this Agreement (the “Effective Date”)
and end on the One Thousand Eight Hundred Twenty Fifth day thereafter
(1,825th) day thereafter, unless
sooner terminated as hereinafter provided.

      

      4.           POSITIONS
AND DUTIES.

      

      The
Employee shall hold the position
of                                                                                                
of the Company and shall perform the duties and responsibilities as outlined in
Exhibit B. The Employee
shall also perform such duties as the Company’s management or Board shall direct
and shall serve in such additional capacities as set forth in Section 7
herein.  In connection with the foregoing positions, the Employee
shall have such duties, responsibilities and authority as may from time to time
be assigned to the Employee by management or the Board.  The Employee
shall devote substantially all of the Employee's working time and efforts to the
business and affairs of the Company. The Employee shall not be engaged in the
provision of any consulting or services to any third parties.

      

      5.           PLACE
OF PERFORMANCE.

      

      In
connection with the Employee's employment by the Company, the Employee shall be
based at the principal Employee offices of the Company in North Dallas, Texas,
except for where travel is required, or where otherwise required by the
operations of the Company.

      

      6.           COMPENSATION
AND RELATED MATTERS.

       

      (a)    Commencing on
the Effective Date
hereof, and during the Period of Employment, the Company shall compensate the
Employee in accordance with Exhibit A hereto. The Company
will also issue to the Employee options as to the Common Stock of the Company as
outlined in Exhibit A hereto. In addition, the Employee shall be entitled to
participate in any annual bonus programs established by the Company for senior
Employees.

      

      
        
          
            
            

          

        

      

      (b)    During
the term of the Employee's employment hereunder, the Employee shall be entitled
to receive prompt reimbursement for all pre-approved, reasonable expenses
incurred by the Employee in performing services hereunder, including all
business travel and living expenses while away from home on business or at the
request of and in the service of the Company, provided that such expenses are
incurred and accounted for in accordance with the policies and procedures
presently established by the Company and OSI or as may be changed from time to
time.

      

      
        
          
            
            

          

        

      

      
        
           

        

        
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      (c)           The
Employee shall also be entitled to all other benefits provided by the Company to
its general employees.

      

      7.           OFFICES.

      

      The
Employee agrees to serve without additional compensation, if elected or
appointed thereto, as a member of the Board of Directors of the Company, or any
subsidiary; provided, however, that the Employee is indemnified for serving in
any and all such capacities on a basis no less favorable than is currently
provided in the Company's bylaws, or otherwise.

      

      8.           TERMINATION
FOR CAUSE.

      

      If the
Employee's employment with the Company is terminated by the Company for Cause,
subject to the procedures set forth in Section 10 herein, the Employee shall be
entitled to receive the Employee's Accrued Benefits as of the Termination
Date.  The Employee shall not be entitled to the receipt of any
Termination Payment.

      

      9.           VOLUNTARY
TERMINATION BY EMPLOYEE.

      

      From and
after August 1, 2008, provided that the Employee furnishes two (2) months prior
written notice to the Company, the Employee shall have the right to voluntarily
terminate this Agreement at any time. The Employee shall receive the Employee's
Accrued Benefits as of the Termination Date and shall not be entitled to any
Termination Payment.

      

      10.           TERMINATION
NOTICE AND PROCEDURE.

      

      Any termination by the Company or the
Employee of the Employee's employment during the Employment Period shall be
communicated by written Notice of Termination to the Employee, if such Notice of
Termination is delivered by the Company, and to the Company, of such Notice of
Termination is delivered by the Employee, all in accordance with the following
procedures:

       

      
        (a)
The Notice of Termination shall indicate the specific termination
provision in this Agreement relied upon and shall set forth in reasonable detail
the facts and circumstances alleged to provide a basis for
termination.

      

      
        
        

      

      

      11.           NONDISCLOSURE
OF PROPRIETARY INFORMATION.

       

      
        (a)     For
the purposes of this Paragraph 11, including all subparagraphs, “the Company”
shall mean the Company or OSI.  Recognizing that the Company is
presently engaged, and may hereafter continue to be engaged, in the research and
development of processes, the obtainment and sale of products or performance of
services, which involve experimental and inventive work and that the success of
its business depends upon the protection of the processes, products and services
by patent, copyright or by secrecy and that the Employee has had, or during the
course of his engagement may have, access to Proprietary Information, as
hereinafter defined, of the Company or other information and data of a secret or
proprietary nature of the Company which the Company wishes to keep confidential
and the Employee has furnished, or during the course of his engagement may
furnish, such information to the Company, the Employee agrees that (a)
"Proprietary Information" shall mean any and all methods, inventions,
improvements or discoveries, whether or not patentable or
copyrightable,

      

      
        
          
            
              
                 

              

              
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      and any
other information of a similar nature related to the business of the Company
disclosed to the Employee or otherwise made known to him as a
consequence  of or through his engagement by the Company (including
information originated by the Employee) in any technological area previously
developed by the Company or developed, engaged in, or researched, by the Company
during the term of the Employee's engagement, including, but not limited to,
trade secrets, processes, products, formulae, apparatus, techniques, know-how,
marketing plans, data, improvements, strategies, forecasts, customer lists, and
technical requirements of customers, unless such information is in the public
domain to such an extent as to be readily available to competitors.

       

      
        (b)     The
Employee acknowledges that the Company has exclusive property rights to all
Proprietary Information and the Employee hereby assigns all rights he might
otherwise possess in any Proprietary Information to the Company. Except as
required in the performance of his duties to the Company or otherwise as
required by law, the Employee will not at any time during or after the term of
his engagement, which term shall include any time in which the Employee may be
retained by the Company as a consultant, directly or indirectly use,
communicate, disclose or disseminate any Proprietary Information or any other
information of a secret, proprietary, confidential or generally undisclosed
nature relating to the Company, its products, customers, processes and services,
including information relating to testing, research, development, manufacturing,
marketing and selling.

      

      
        
          
          

        

      

      (c)     All
documents, records, notebooks, notes, memoranda and similar repositories of, or
containing, Proprietary Information or any other information of a secret,
proprietary, confidential or generally undisclosed nature relating to the
Company or its operations and activities made or compiled by the Employee at any
time or made available to him prior to or during the term of his engagement by
the Company, including any and all copies thereof, shall be the property of the
Company, shall be held by him in trust solely for the benefit of the Company,
and shall be delivered to the Company by him on the termination of his
engagement or at any other time on the  request of the
Company.

      
        
          
          

        

      

      
        (d)     The
Employee will not assert any rights under any inventions, copyrights,
discoveries, concepts or ideas, or improvements thereof, or know-how related
thereto, as having been made or acquired by him prior to his being engaged by
the Company or during the term of his engagement if based on or otherwise
related to Proprietary Information.

      

      
        
          
          

        

      

      

      12.           ASSIGNMENT
OF INVENTIONS.

       

      
        (a)    For
purposes of this Paragraph 12, the term "Inventions" shall mean discoveries,
concepts, and ideas, whether patentable or copyrightable or not, including but
not limited to improvements, know-how, data, processes, methods, formulae, and
techniques, as well as improvements thereof or know-how related thereto,
concerning any past, present or prospective activities of the Company which the
Employee makes, discovers or conceives (whether or not during the hours of his
engagement or with the use of the Company's facilities, materials or personnel),
either solely or jointly with others during his engagement by the Company or any
affiliate and, if based on or related to Proprietary Information, at any time
after termination of such engagement.  All inventions shall be the
sole property of the Company, and Employee agrees to perform the provisions of
this paragraph 12 with respect thereto without the payment by the Company of any
royalty or any consideration therefor other than the regular compensation paid
to the Employee in the capacity of an employee or consultants;

      

      
        
          
          

        

      

       

      
        
           

        

        
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        (b)    The
Employee shall maintain written notebooks in which he shall set forth, on a
current basis, information as to all Inventions, describing in detail the
procedures employed and the results achieved as well as information as to any
studies or research projects undertaken on the Company's behalf.  The
written notebooks shall at all times be the property of the Company and shall be
surrendered to the Company upon termination of his engagement or, upon request
of the Company, at any time prior thereto.

      

      
        
          
          

        

      

      
        (c)    The
Employee shall apply, at the Company's request and expense, for United States
and foreign letters patent or copyrights either in the Employee's name or
otherwise as the Company shall desire.

      

      
         

      

      (d)    The
Employee hereby assigns to the Company all of his rights to such Inventions, and
to applications for United States and/or foreign letters patent or copyrights
and to United States and/or foreign letters patent or copyrights granted upon
such Inventions.

      

      
        (e)    The
Employee shall acknowledge and deliver promptly to the Company, without charge
to the Company, but at its expense, such written instruments (including
applications and assignments) and do such other acts, such as giving testimony
in support of the Employee's inventorship, as may be necessary in the opinion of
the Company to obtain, maintain, extend, reissue and enforce United States
and/or foreign letters patent and copyrights relating to the Inventions and to
vest the entire right and title thereto in the Company or its
nominee.  The Employee acknowledges and agrees that any copyright
developed or conceived of by the Employee during the term of Employee's
employment which is related to the business of the Company shall be a "work for
hire" under the copyright law of the United States and other applicable
jurisdictions.

      

      

      
        (f)    The
Employee represents that his performance of all the terms of this Agreement and
as an employee of or consultant to the Company does not and will not breach any
trust prior to his employment by the Company.  The Employee agrees not
to enter into any agreement either written or oral in conflict herewith and
represents and agrees that he has not brought and will not bring with him to the
Company or use in the performance of his responsibilities at the Company any
materials or documents of a former  employer which are not generally
available to the public, unless he has obtained written authorization from the
former employer for their possession and use, a copy of which has been provided
to the Company.

      

      

        (g)    No
provisions of this Paragraph shall be deemed to limit the restrictions
applicable to the Employee under Paragraph 11.

      

       

      13.           SHOP
RIGHTS.

      

      The
Company shall also have the royalty-free right to use in its business, and to
make, use and sell products, processes and/or services derived from any
inventions, discoveries, concepts and ideas, whether or not patentable,
including but not limited to processes, methods, formulas and techniques, as
well as improvements thereof or know how related thereto, which are not within
the scope of Inventions as defined in Paragraph 12 but which are conceived or
made by the Employee during the period he is engaged by the Company or with the
use or assistance of the Company's facilities, materials or
personnel.

        
          
             

          

          
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      14.           NON-COMPETE.

      

      The
Employee hereby agrees that during the term of this Agreement and for twelve
months (12) months following a termination for any reason, unless otherwise
specified in this agreement, shall not:

       

      (a)    Within
any jurisdiction or marketing area in the United States in which the Company or
any subsidiary thereof is doing business, own, manage, operate or control any
business of the type and character engaged in and competitive with the Company
or any subsidiary thereof.  For purposes of this paragraph, ownership
of securities of not in excess of five percent (5%) of any class of securities
of a public company shall not be considered to be competition with OSI, or any
subsidiary thereof; or

       

      
        (b)    Within
any jurisdiction or marketing area in the United States in which the
Consolidated Group or any member thereof is doing business, act as, or become
employed as, an officer, director, employee, consultant or agent of any business
of the type and character engaged in and competitive with the Consolidated Group
or any of its members; or

      

      
         

        (c)    Solicit any
business that is the same as that of the Consolidated Group for, or sell any
products that are in competition with the Consolidated Group’s products to, any
company in the United States, which is, as of the date hereof, a customer or
client of the Consolidated Group or any of its members, or was such a customer
or client thereof within two years prior to the date of this Agreement;
or

      

       

      
        (d)    Solicit the
employment of, or hire any full time employee employed by the Company or its
subsidiaries as of the date of termination of this Agreement.

      

       

      Restrictions
Reasonable. Employee represents and agrees that the provisions hereof are
reasonable in order to protect the business and proprietary interests of the
Consolidated Group both as to the duration of time and any geographic limitation
therein provided, based on the present business, plans and prospects of the
Consolidated Group and the confidential and proprietary information to which
Employee has had and will have access, and that compliance with the provisions
hereof will
not be unduly burdensome on him.  Employee represents that
prior to executing and delivering this agreement, he has reviewed the provisions
of this agreement with his attorney.

      

      15.           REMEDIES
AND INJUNCTIVE RELIEF

      

      The
Employee hereby acknowledges and agrees that a breach or threatened breach by
him or the non-performance of certain of the covenants or promises contained
herein by him may cause serious and irreparable harm to the Consolidated Group
and that any remedy at law, including any award of money damages, may be
inadequate.  Accordingly, Employee agrees and accepts that a
threatened breach, a breach or a violation of the provisions of this agreement
by him shall entitle the Company, as a matter of right, to an injunction issued
by any court of competent jurisdiction, restraining any further or continued
breach or violation of the provisions of this agreement.  Such right
to an injunction shall be cumulative and in addition to, and not in lieu of, any
other remedies to which the Company may be entitled. The Employee specifically
acknowledges that the requirement of the Consolidated Group or any member
thereof to post a bond for the issuance of a temporary restraining order or
temporary injunction should be waived.

      

      
        
           

        

        
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      16.           ATTORNEY’S
FEES.

      

      In the
event that either party hereunder institutes any legal proceedings in connection
with its rights or obligations under this Agreement, the prevailing party in
such proceeding shall be entitled to recover from the other party, all costs
incurred in connection with such proceeding, including reasonable attorneys'
fees, together with interest thereon from the date of demand at the rate of
twelve percent (12%) per annum.

      

      17.           SUCCESSORS.

      

      This
Agreement and all rights of the Employee shall inure to the benefit of and be
enforceable by the Employee's personal or legal representatives, estates,
executors, administrators, heirs and beneficiaries. In the event of the
Employee's death, all amounts payable to the Employee under this Agreement shall
be paid to the  Employee's surviving spouse, or the Employee's estate
if the Employee  dies without a surviving spouse.  This
Agreement shall inure to the benefit of, be binding upon and be enforceable by,
any successor, surviving or resulting corporation or other entity to which all
or substantially all of the business and assets of the Company shall be
transferred whether by merger, consolidation, transfer or sale.

      

      18.           ENFORCEMENT.

      

      The
provisions of this Agreement shall be regarded as divisible, and if any of said
provisions or any part hereof are declared invalid or unenforceable by a court
of competent jurisdiction, the validity and enforceability of the remainder of
such provisions or parts hereof and the applicability thereof shall not be
affected thereby.

      

      19.           AMENDMENT
OR TERMINATION.

      

      This
Agreement may be amended, superseded, canceled, renewed or extended, and the
terms hereof may be waived, only by written instrument signed by the parties or,
in the case of a waiver, by the party waiving compliance.  No delay on
the part of any party in exercising any right, power or privilege hereunder
shall operate as a waiver thereof.  Nor shall any waiver on the part
of any party of any such right, power or privilege, nor any single or partial
exercise of any such right, power or privilege, preclude any further exercise
thereof or the exercise of any other such right, power or
privilege.

      

      20.           SEVERABILITY.

      

      The
provisions of paragraphs 11, 12, 13 and 14 shall survive termination of this
Agreement.

      

      21.           ENTIRE
AGREEMENT.

      

      This
Agreement sets forth the entire agreement between the Employee and the Company
with respect to the subject matter hereof, and supersedes all prior oral or
written agreements, negotiations, commitments and understandings with respect
thereto.  Each party to this Agreement acknowledges that no
representations, inducements, or agreements, oral or otherwise, have been made
by any party, or anyone acting on behalf of any party, which are not embodied
herein, and no other agreement, statement or promise not contained in this
Agreement shall be valid or binding.  The parties hereto have had an
opportunity to consult with their respective attorneys concerning the meaning
and the import of this Agreement and each has read this Agreement, as signified
by his/their signatures below, and are executing the same for the purposes and
consideration herein expressed.

      
        
           

        

        
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      22.           GOVERNING
LAW.

      

      This
Agreement and the Employee's and Company's respective rights and obligations
hereunder shall be governed by and construed in accordance with the laws of the
State of Texas applicable to agreements made and to be performed entirely within
such State without giving effect to the provisions, principles, or policies
thereof relating to choice or conflict laws, except to the extent that Federal
law may apply.

      

      23.           NOTICE.

      

      Any
notice or other communication required or permitted hereunder shall be deemed
given if in writing and delivered personally, telegraphed, telexed, sent by
facsimile transmission or sent by certified, registered or express mail, postage
prepaid.  Any such notice shall be deemed given when so delivered
personally or sent by overnight air courier or facsimile transmission or, if
mailed, two days after the date of deposit in the United States mails, as
follows:

      

      if to
OSI:

      

      Mr.
Julian Ross

      OxySure
Systems, Inc.

      10880
John W. Elliott Road

      Suite
600

      Frisco,
TX  75034

      

      if to the
Employee:

      

      _______________________________

      _______________________________

      _______________________________

      

      Any party
may be given notice in accordance with this Section to the other parties
designate another address or person for receipt of notices by such party
hereunder.

      

      23.           BINDING
EFFECT: NO ASSIGNMENT.

      

      This
Agreement shall be binding upon and inure to the benefit of the parties and
their respective successors and legal representatives.  This Agreement
and any rights hereunder are not assignable except by operation of law or by OSI
to any of its subsidiaries or affiliates.  Any other purported
assignment shall be null and void.

      

      24.           VARIATIONS
IN PRONOUNS.

      

      Wherever
the context shall so require, all words herein in the male gender shall be
deemed to include the female or neuter gender and vice versa, all singular words
shall include the plural, and all plural words shall include the
singular.  All pronouns and any variations thereof refer to the
masculine, feminine or neuter, singular or plural, as the context may
require.

      

      
        
           

        

        
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      25.           REPRESENTATION
BY COUNSEL

      

      Each
party acknowledges that it has had the opportunity to be represented by separate
independent counsel in the negotiation of this Agreement, that any such
respective attorneys were of its own choosing, that each authorized
representative has read this Agreement and that he understands its meaning and
legal consequences to each party.  The Parties warrant and represent
that they have consulted with their attorney of choice concerning the execution,
the meaning and the import of this Agreement, and each has read this Agreement
and fully understands the terms hereof as signified by their signatures below,
and are executing the same of their own free will for the purposes and
consideration herein expressed.  The Parties warrant and represent
that they have had sufficient time to consider whether to enter into this
Agreement and that they are relying solely on their own judgment and the advice
of their own counsel in deciding to execute this Agreement.  The
Parties warrant and represent that they have read this Agreement in its entirety
and have consulted with their attorney concerning the execution of this
Agreement. If any or all Parties have chosen not to seek alternative counsel,
said party or parties hereby acknowledge that he or they refrained from seeking
alternative counsel entirely of his or their own volition and with full
knowledge of the consequences of such a decision.

      

      26.           PRESUMPTION
AGAINST SCRIVENER

      

      Each
party waives the presumption that this Agreement is presumed to be in favor of
the party which did not prepare it, in case of a dispute as to
interpretation.

      

      27.           CAPACITY

      

      Each
party represents and warrants that he has the authority to enter into this
Agreement either on his own behalf or in an official capacity on behalf of a
corporate party.

      

      28.           OTHER
INSTRUMENTS

      

      The
Parties hereto covenant and agree that they will execute such other and further
instruments and documents as are or may become necessary or convenient to
effectuate and carry out the business obligations and duties created by this
Agreement.

      

      29.           NO
WAIVER.

      

      No waiver
by either party at any time of any breach by the other party of, or compliance
with, any condition or provision of this Agreement to be performed by the other
party shall be deemed a waiver of similar or dissimilar provisions or conditions
at the same time or any prior or subsequent time.

      

      30.           HEADINGS.

      

      The
headings used in this Agreement are for administrative purposes only and do not
constitute substantive matter to be considered in construing the terms and shall
not affect the interpretation of this Agreement.

      

      
        
           

        

        
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      31.           COUNTERPARTS.

      

      This
Agreement may be executed by the parties hereto in separate counterparts, each
of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute one and the same
instrument.  Each counterpart may consist of a number of copies hereof
each signed by less than all, but together signed by all of the parties
hereto.

      

      IN
WITNESS WHEREOF, the Company, has caused this Agreement to be executed by its
duly authorized officer, and the Employee has executed this Agreement, on the
date and year first above written.

      

      OXYSURE
SYSTEMS, INC.

      

      

      __________________________________

      By:           Mr.
Julian Ross

      Its:           President
& CEO

      

      EMPLOYEE

      

      

      _________________________________

      

      

      

      

      Exhibit A

      

      
        
           

        

        
          11oxysures1051509ex10_5.htm

    
      

      

    

     

    
      Exhibit 10.5   Agreement for
Investors Relations Services

      

      AGREEMENT

      

      This
Agreement (“Agreement”) is made and entered into on April 20, 2009 by and
between OxySure Systems, Inc., a Delaware Corporation (“OxySure”) and IR
Services, Inc., a Nevada Corporation (“IR Services”) (jointly, the “Parties”).
This Agreement supersedes all prior agreements between the Parties and among the
Parties and Donson Brooks.

      

       

      WITNESSETH

       

      

      NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which is
hereby acknowledged by the parties to this Agreement, said parties agree as
follows:

      

      (a)           OxySure
agrees to engage the services of IR Services, Inc. to provide the
following:

      
        	
                Ÿ  

              	
                Prepare
      and submit an S-1 filing to the SEC; OR provide a fully reporting Form 10
      company, fully compliant with SEC (the “Form 10 Company”) for OxySure to
      merge with.

              

      

      
        	
                Ÿ  

              	
                Prepare
      and submit an 8K filing to the SEC

              

      

      
        	
                Ÿ  

              	
                Prepare
      and submit responses to SEC comment
letters

              

      

      
        	
                Ÿ  

              	
                Prepare
      and submit a 15c211 filing to a Brokerage firm for a filing to
      FINRA

              

      

      
        	
                Ÿ  

              	
                Prepare
      and submit responses to FINRA comment
letters

              

      

      
        	
                Ÿ  

              	
                Retain
      the services of an acceptable Market Maker, Broker Dealer, and Escrow
      Agent

              

      

      
        	
                Ÿ  

              	
                Provide
      such other services and activities as necessary to obtain a ticker symbol
      and become traded on the Over-the-Counter Bulletin Board
      (OTCBB)

              

      

      

      
        	
                 
      

              	
                (b)

              	
                OxySure
      will require updated audited financial statements for SEC compliance.
      OxySure agrees to cover up to $2,000 of the cost of obtaining such updated
      audited financial statements for SEC compliance. If the cost of obtaining
      the updated audited financial statements exceeds $2,000 then IR-Services
      will pay the difference between the actual cost and $2,000., only upon
      engaging the CPA services of the Blackwing Group,
  LLC.,

              

      

      
        	
                 
      

              	
                a
      PCOAB member.

              

      

      

      
        	
                 
      

              	
                (c)

              	
                If
      OxySure becomes traded on OTCBB, IR Services or an acceptable assignee
      will provide OxySure with Investor Relations Services, which shall
      include, without limitation, press releases, investor awareness campaigns
      (online and mail), and blog and message board monitoring. These Investor
      Relations Services will be provided for a period of 9 months commencing on
      the date that OxySure first becomes publicly
  traded.

              

      

      

      
        	
                 
      

              	
                (e)

              	
                OxySure Systems, Inc., agrees to
      pay IR Services, Inc. $50,000 in cash and to sell IR Services, Inc.
      968,419 warrants (the “Warrants”), subject to (f)
      below.

              

      

      

      
        	
              	
                (f)           
       

              	
                The
      $50,000 in cash will paid to IR Services, Inc. and the 968,419 Warrants
      will be sold to IR Services in accordance with the
    following:

              

      

      
        	
                (i)  

              	
                $25,000
      in Cash to be paid prior to commencing the
  project;

              

      

      
        	
                (ii)  

              	
                $12,500
      due on or before February 15, 2009 (“Second Cash
  Payment”);

              

      

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      

      
        	
                (iii)  

              	
                $12,500
      due on or before April 29, 2009 (“Balance Payment”) if Balance payment is
      not received in full by April 29, 2009 then Oxysure agrees to pay IR
      Services 250,000 additional Warrants at a strike price of $.01 per share
      due immediately;

              

      

      
        	
                (iv)  

              	
                250,000
      Warrants at a strike price of $.01 per share to be provided upon the S-1
      being filed with the SEC;

              

      

      
        	
                (v)  

              	
                250,000
      Warrants at a strike price of $.01 per share to be provided upon the S-1
      filing going effective with the
SEC;

              

      

      
        	
                (vi)  

              	
                300,000
      Warrants at a strike price of $.01 per share to be provided upon
      acceptance by FINRA of the 15c211;

              

      

      
        	
                (vii)  

              	
                68,419
      Warrants at a strike price of $.01 per share to be provided within 3 days
      of OxySure starting to trade on
OTCBB;

              

      

      
        	
                (viii)  

              	
                50,000
      Warrants at a strike price of $.01 per share to be provided 3 months
      subsequent of OxySure starting to trade on
  OTCBB;

              

      

      
        	
                (ix)  

              	
                25,000
      Warrants at a strike price of $.01 per share to be provided 6 months
      subsequent of OxySure starting to trade on OTCBB;
  and

              

      

      
        	
                (x)  

              	
                25,000
      Warrants at a strike price of $.01 per share to be provided 9 months
      subsequent of OxySure starting to trade on
  OTCBB.

              

      

      

      The form
of all the Warrants are annexed hereto as Exhibit A.

      

      
        	
                (f)

              	
                IR
      Services will secure a Market Maker at its sole expense, which Market
      Maker shall be reasonably acceptable to
OxySure.

              

      

      

      
        	
                (g)

              	
                OxySure
      will provide all the information exhibits and financial statements
      required by IR Services, Inc., in a timely manner no later than 60 days
      subsequent to the Effective Date of the
  Agreement.

              

      

      

      
        	
                1.          
        

              	
                Representations and
      Warranties.  The parties to this Agreement, and their
      agents represent and warrant they are entering into this Agreement and the
      performance by them, and their agents hereunder will not conflict with,
      violate or constitute a breach of, or require any consent or approval
      under any agreement, license, arrangement or understanding, or any law,
      judgment, decree, order, rule or regulation to which they and their agents
      are a party or by which it is
bound.

              

      

      

      The
signatories and parties to this agreement warrant that they are authorized to
enter into this agreement and is binding upon the parties hereto.  All
entities which are parties to this agreement warrant that they are in good
standing and current with their states or locations of domicile and that their
entering into this agreement will not violate or breach any other binding
agreement of the parties.

      

      
        	
                2.

              	
                Severability.  If
      any provision of this Agreement is invalid and unenforceable in any
      jurisdiction, then to the fullest extent permitted by law: (1) the other
      provisions hereof shall remain in
full

              

      

      
        	
                 
      

              	
                force
      and effect in such jurisdiction; and (2) the invalidity or
      unenforceability of any provision hereof in any jurisdiction shall not
      affect the validity or unenforceability of such provision in any other
      jurisdiction.

              

      

      

      
        	
                3.

              	
                Entire
      Agreement.  This Agreement contains the entire
      understanding and agreement between the parties with
      respect to the subject matter
      hereof and cannot be amended, modified or supplemented in any respect
      except by a subsequent written agreement entered into by the
      parties.

              

      

      

      
        	
                4.

              	
                Successors.  This
      Agreement may not be assigned.  Subject to the foregoing, in
      every respect, this Agreement shall inure to the benefit of and be binding
      upon the parties and their
successors.

              

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      
        	
                5.

              	
                Effect of
      Waiver.  The waiver by either party of a breach of any
      provision of this Agreement shall not operate, to as or be construed as a
      waiver of any subsequent breach.

              

      

      

      
        	
                6.

              	
                Notices.  Any
      notice, request, demand or other communication in connection with this
      Agreement shall be (i) in writing, (ii) delivered by personal delivery, or
      sent by commercial delivery service or registered or certified mail,
      return receipt requested or sent by facsimile, (iii) deemed to have been
      given on the date of personal delivery or the date set forth in the
      records of the delivery service or on the return receipt or, in the case
      of a facsimile, upon receipt thereof and (iv) addressed as
      follows:

              

      

      

      

      IR
Services,
Inc.                                                                   OxySure
Systems, Inc.

      8586
Warren
Pkwy                                                               10880
John W. Elliot Drive

      Suite
827                                                                       
Suite 600

      Frisco,
Texas
75034                                                              Frisco,
Texas 75034

      (469)
499-4495                                                                        (972)
294-6501

      

      or to any
such other or additional persons and addresses as the parties may from time to
time designate in writing delivered in accordance with this
Section.

      

      
        	
                7.

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

              

      

      

      
        	
                8.

              	
                Applicable
      Law.  This Agreement shall be governed by, and construed
      in accordance with the laws of the State of Texas. In the event any action
      be instituted by a party to enforce any of the terms and provisions
      contained herein, the prevailing party in such action shall entitled to
      such reasonable attorneys' fees, costs and expenses as
      may be fixed by the Court.

              

      

      

      IN
WITNESS WHEREOF, the parties have executed this Agreement as the day and year
first stated above.

      

      OxySure
Systems, Inc.

      

      By:
_______________________                                                                                     

            Julian
T. Ross,
President                                                                           

      

      

      IR
Services, Inc.

      

      By:
______________________                                                                                                                                

            Donson
Brooks, President

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      EXHIBIT
A

      STOCK
PURCHASE WARRANT

      

      NEITHER
THIS WARRANT NOR ANY SECURITIES ON EXERCISE HEREOF HAS BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS, AND
MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF
REGISTRATION UNDER SUCH ACT AND APPLICABLE LAWS, OR THE AVAILABILITY OF AN
EXEMPTION FROM SUCH REGISTRATION, OR AN OPINION OF COUNSEL SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT LEGALLY REQUIRED.

       

      STOCK
PURCHASE WARRANT

       

      This
Stock Purchase Warrant (this “Warrant”), dated, is issued
to (the “Holder”), by
OxySure Systems, Inc., a Delaware corporation (the “Company”).

       

      26. Purchase of
Shares.  Subject to the terms and conditions hereinafter set
forth, the Holder is entitled, upon surrender of this Warrant at the principal
office of the Company (or at such other place as the Company shall notify the
holder hereof in writing), to purchase from the Company _______ fully paid and
non-assessable shares of Common Stock, par value $_0.0001____ per share (the
“Common Stock”), of the
Company (as adjusted pursuant to Section 7 hereof, the
“Shares”) for the
purchase price specified in Section 2
below.

       

      27. Purchase
Price.  The purchase price for the Shares is $
per share.  Such price shall be subject to adjustment pursuant to
Section 7
hereof (such price, as adjusted from time to time, is herein referred to as the
“Warrant Price”).Exercise
Period.  This Warrant is exercisable in whole
or in part at any time from the date hereof through .

       

      
        
          28. Exercise
Period.  This Warrant is exercisable in whole or in part at any
time from the date hereof through ____________________.

           

        

      

      29.           
    Transfer of
Warrant.  Transfer of this Warrant to a third party shall be
effected by execution and
delivery of the
Notice of Assignment attached hereto as Exhibit AA and surrender of this
Warrant for registration of transfer of this Warrant
at the primary executive office of the Company, together with funds sufficient
to pay any applicable transfer tax.  Upon receipt of the duly executed
Notice of Assignment and the necessary transfer tax funds, if any, the Company,
at its expense, shall execute and deliver, in the name of the designated
transferee or transferees, one or more new Warrants representing the right to
purchase a like aggregate number of shares of Common Stock.

       

      30. Method of
Exercise.  While this Warrant remains outstanding and
exercisable in accordance with Section 3 above, the
Holder may exercise, in whole or in part, the purchase rights evidenced
hereby.  Such exercise shall be effected by:

       

      (a)              
surrender
of this Warrant, together with a duly executed copy of the form of Exercise
Notice attached hereto, to the Secretary of the Company at its principal
offices, and the payment to the Company of an amount equal to the aggregate
purchase price for the number of Shares being purchased, which shall be a whole
number of shares; or

       

      (b)              
if the
Common Stock is publicly traded as of such date, the instruction to retain that
whole number of Shares having a value equal to the aggregate exercise price of
the Shares as to which this Warrant is being exercised and to issue to the
Holder the remainder of such Shares computed using the following
formula:

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

       X
=           Y(A-B)

       
    A

      

      Where:

       

      
         X
=    the number of
shares of Common Stock to be issued to the Holder.

      

       

      
         Y=    the
number of shares of Common Stock as to which this Warrant is being
exercised.

      

       

      A
=           the fair
market value of one share of Common Stock.

      

      B
=           the Warrant
Price.

      

      As used
herein, the “fair market value of one share of Common Stock” shall
mean:

      

      (1)           Except
in the circumstances described in clause (2) hereof, the price per share of the
Common Stock determined in good faith by the Board of Directors of the Company;
or

      

      (2)           If
such exercise is in conjunction with a merger, acquisition or other
consolidation pursuant to which the Company is not the surviving entity, the
value received by the holders of the Common Stock pursuant to such transaction
for each share.

      

      31. Certificates for Shares;
Partial Exercise of Warrants.

      
                               
(a)           Upon the
exercise of the purchase rights evidenced by this Warrant, one or more
certificates for the number of Shares so purchased shall be issued as soon as
practicable thereafter, and in any event within thirty (30) days of the delivery
of the Exercise Notice.

      

      (b) If this Warrant is surrendered for
partial exercise, the Company shall execute and deliver to the Holder of the
Warrant, without charge to the Holder, a new Warrant exercisable for an
aggregate number of shares of Common Stock equal to the unexercised portion of
the surrendered Warrant.

      

      32. Reservation of
Shares.  The Company covenants that it will at all times keep
available such number of authorized shares of its Common Stock, free from all
preemptive rights with respect thereto, which will be sufficient to permit the
exercise of this Warrant for the full number of Shares specified
herein.  The Company further covenants that such Shares, when issued
pursuant to the exercise of this Warrant, will be duly and validly issued, fully
paid and non-assessable and free from all taxes, liens and charges with respect
to the issuance thereof.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      
 

      33. Adjustment of Warrant Price
and Number of Shares.  The number and kind of securities
purchasable upon exercise of this Warrant and the Warrant Price shall be subject
to adjustment from time to time as follows:

      

             
(a)               
Stock Dividends,
Subdivisions, Combinations and Other Issuances.  If the Company
shall at any time prior to the expiration of this Warrant subdivide its Common
Stock, by stock split or otherwise, combine its Common Stock or issue additional
shares of its Common Stock as a dividend with respect to any shares of its
Common Stock, the number of Shares issuable on the exercise of this Warrant
shall forthwith be proportionately increased in the case of a subdivision or
stock dividend and proportionately decreased in the case of a
combination.  Appropriate adjustments shall also be made to the
purchase price payable per share, but the aggregate purchase price payable for
the total number of Shares purchasable under this Warrant (as adjusted) shall
remain the same.  Any adjustment under this Section 7(a) shall
become effective at the close of business on the date the subdivision or
combination becomes effective or as of the record date of such dividend, or, in
the event that no record date is fixed, upon the making of such
dividend.

      

            
(b)               
Reclassification,
Reorganization, Merger, Sale or Consolidation.  In the event of
any reclassification, capital reorganization or other change in the Common Stock
of the Company (other than as a result of a subdivision, combination or stock
dividend provided for in Section 7(a) above)
or in the event of a consolidation or merger of the Company with or into, or the
sale of all or substantially all of the properties and assets of the Company, to
any person, and in connection therewith consideration is payable to holders of
Common Stock in cash, securities or other property, then as a condition of such
reclassification, reorganization or change, consolidation, merger or sale,
lawful provision shall be made, and duly executed documents evidencing the same
shall be delivered to the Holder, so that the Holder shall have the right at any
time prior to the expiration of this Warrant to purchase, at a total price equal
to that payable upon the exercise of this Warrant immediately prior to such
event, the kind and amount of cash, securities or other property receivable in
connection with such reclassification, reorganization or change, consolidation,
merger or sale, by a holder of the same number of shares of Common Stock as were
exercisable by the Holder immediately prior to such reclassification,
reorganization or change, consolidation, merger or sale.  In any such
case, appropriate provisions shall be made with respect to the rights and
interest of the Holder so that the provisions hereof shall thereafter be
applicable with respect to any cash, securities or property deliverable upon
exercise hereof.  Notwithstanding the foregoing, (i) if the Company
merges or consolidates with, or sells all or substantially all of its property
and assets to, any other person, and consideration is payable to holders of
Common Stock in exchange for their Common Stock in connection with such merger,
consolidation or sale which consists solely of cash, or (ii) in the event of the
dissolution, liquidation or winding up of the Company, then the Holder shall be
entitled to receive distributions on the date of such event on an equal basis
with holders of Common Stock as if this Warrant had been exercised immediately
prior to such event, less the Warrant Price.  Upon receipt of such
payment, if any, the rights of the Holder shall terminate and cease, and this
Warrant shall expire.

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      

      In case
of any such merger, consolidation or sale of assets, the surviving or acquiring
person and, in the event of any dissolution, liquidation or winding up of the
Company, the Company shall promptly, after receipt of this surrendered Warrant,
make payment by delivering a check in such amount as is appropriate (or, in the
case of consideration other than cash, such other consideration as is
appropriate) to such person as it may be directed in writing by the Holder
surrendering this Warrant.

      

      34. Pre-Exercise
Rights.  Prior to exercise of this Warrant, the Holder shall
not be entitled to any rights of a shareholder with respect to the Shares,
including without limitation, the right to vote such Shares, receive preemptive
rights or be notified of shareholder meetings, and the Holder shall not be
entitled to any notice or other communication concerning the business or affairs
of the Company.

      

      35. Certification of Investment
Purpose.  Unless a current registration statement under the
Securities Act of 1933, as amended, shall be in effect with respect to the
securities to be issued upon exercise of this Warrant, the Holder hereof, by
accepting this Warrant, covenants and agrees that, at the time of exercise
hereof, the Holder will deliver to the Company a written certification that the
securities acquired by the Holder are acquired for investments purposes only and
that such securities are not acquired with a view to, or for sale in connection
with, any distribution thereof.

      

      36. Successors and
Assigns.  The terms and provisions of this Warrant shall inure
to the benefit of, and be binding upon, the Company and the Holder and their
respective successors and assigns.

      

      37. Governing
Law.  This Warrant shall be governed by the laws of the State
of Texas, excluding the conflicts of laws provisions thereof.

      

      IN WITNESS WHEREOF, the undersigned
hereby agrees to the terms hereof effective as of___________________________
..

      COMPANY: OXYSURE SYSTEMS,
INC.

      

      By:_________________________________

       

      Name:_______________________________   

                                              

      Title:________________________________                                                                           

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      EXERCISE
NOTICE

      

       Dated:  _______________,
____

      

      

      The
undersigned hereby irrevocably elects to exercise the Stock Purchase Warrant,
dated ____________________,  , issued by
_______________________________________, a _______________ corporation (the
“Company”), to the
undersigned to the extent of purchasing ___________ shares of Common Stock and
hereby makes payment of $_________ in payment of the aggregate Warrant Price of
such Shares.

      

      COMPANY:

       

      
        __________________________________________

      

      

      

      

      By:_______________________________________

      

      Name:_____________________________________                                           

      

      Title:______________________________________                                                                           

      

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      Exhibit
A

      ASSIGNMENT
FORM

      

      (To be
executed only upon the assignment of the within Warrant)

      

      

      FOR VALUE
RECEIVED, the undersigned registered Holder of the within Warrant hereby sells,
assigns and transfers unto ________________________________________________,
whose address is

      

      ______________________________________________
all of the rights of the undersigned under the within Warrant, with respect to
shares of Common Stock (as defined within the Warrant) of OxySure Systems, Inc.,
and, if such shares of Common Stock shall not include all the shares of Common
Stock issuable as provided in the within Warrant, that a new Warrant of like
tenor for the number of shares of Common Stock not being transferred hereunder
be issued in the name of and delivered to the undersigned, and does hereby
irrevocably constitute and appoint __________________________________________
attorney to register such transfer on the books of OxySure Systems, Inc.
maintained for that purpose, with full power of substitution in the
premises.

      

      

      Dated:_____________

      

      Signature
Guaranteed

      

                                  By:_______________________________________

                                       (Signature
of Registered Holder)

                                  Title:  _____________________________________

      

      NOTICE:                                The
signature to this Notice of Assignment must correspond with

                 the
name upon the face of the within Warrant in every particular,

                 without
alteration or enlargement or any change whatever.

      
        
           

        

        
          9

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