Document:

Advisory and Consulting Agreement

 
Exhibit 4.1 Advisory and
Consulting Agreement 
 

	 	    	 Number of Shares and Warrants

	 4.1(a)
	    	 9,600,000

	 4.1(b)
	    	 10,400,000

	 4.1(c)
	    	 3,000,000

	 4.1(d)
	    	 5,000,000

	 4.1(e)
	    	 5,000,000

	 4.1(f)
	    	 1,700,000

	 4.1(g)
	    	 240,000

	 4.1(h)
	    	 8,000,000

	 4.1(j)
	    	 900,000

	 Other
	    	 200,000

	 	    	

	 Total
	    	 44,040,000

	 	    	

 

9Consulting Agreement - Piter Korompis

 
Exhibit 4.1(a)

 
CONSULTING AGREEMENT 
 
AGREEMENT, effective as of the 1st day of April, 2003, between Calypte Biomedical Corporation, a Delaware Corporation (the “Company”), of 1265 Harbor
Parkway, Alameda, CA 94502, and Piter Korompis, JLN: Durimala I/4 Kepa Duri Tomang Barat, Jakarta, Indonesia (“Consultant”). 
 
WHEREAS, THE Company desires the Consultant to provide consulting services to the Company pursuant hereto and Consultant is agreeable to
providing such services. 
 
NOW THEREFORE, in
consideration of the premises and the mutual promises set forth herein, the parties hereto agree as follows: 
 
1. Consultant shall serve as a consultant to assist the Company in general corporate activities including but not limited to the following
areas: 
 
(a) Arranging distribution
relationships for the Company in Indonesia. 
 
2.
Term: The Company shall be entitled to Consultant’s services for reasonable times when and to the extent requested by, and subject to the direction of Mr. Cataldo. The term of this Consulting Agreement began as of the date of this Agreement,
and shall terminate on December 31, 2003. 
 
3.
Reasonable travel and other expenses necessarily incurred by Consultant to render such services, and approved in advance by the Company, shall be reimbursed by the Company promptly upon receipt of proper statements, including appropriate
documentation, with regard to the nature and amount of those expenses. Those statements shall be furnished to the Company monthly at the end of each calendar month in the Consulting Period during which any such expenses are incurred. Company shall
pay expenses within fifteen (15) business days of the receipt of a request with appropriate documentation. 
 
4. The Company shall cause the Agreement to be registered with Securities Exchange Commission under available form as soon as practical.
In consideration for the services to be performed by Consultant, the Company will immediately grant Consultant 9,600,000 shares of the Company’s Common Stock. 
 

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5. The
consultant will provide to Calypte’s Executive Chairman a written report of services rendered and results thereof no less than quarterly and that report will be issued within 30 days of quarter end. E.g. July 31, 2003 for the period ended June
30, 2003 and then within 30 days of the conclusion of the agreement. 
 
6. It is the express intention of the parties that the Consultant is an independent contractor and not an employee or agent of the Company. Nothing in this agreement shall be interpreted or construed as creating or
establishing the relationship of employer and employee between the Consultant and the Company. Both parties acknowledge that the Consultant is not an employee for state or federal tax purposes. The Consultant shall retain the right to perform
services for others during the term of this agreement. 
 
6.1 The consulting services shall not involve and the Consultant is not engaged in services in connection with the offer or sale of securities in a capital-raising transaction for Calypte, and further, the Consultant does not and
will not directly or indirectly promote or maintain a market for Calypte’s securities. 
 
7. Neither this agreement nor any duties or obligations under this agreement may be assigned by the Consultant without the prior written consent of the Company. 
 
8. This agreement may be terminated upon ten (10) days
written notice by the Company. Notwithstanding any termination, the consideration, as outlined in Section 4, shall be earned in full by the Consultant upon the execution of this agreement. 
 
9. Any notices to be given hereunder by either party to the
other may be given either by personal delivery in writing or by mail, registered or certified, postage prepaid with return receipt requested. Mailed notices shall be addressed to the parties at the addressed appearing in the introductory paragraph
of this agreement, but each party may change the address by written notice in accordance with the paragraph. Notices delivered personally will be deemed communicated as of actual receipt; mailed notices will be deemed communicated as of two days
after mailing. 
 
10. This agreement supersedes
any and all agreements, either oral or written, between the parties hereto with respect to the rendering of services by the Consultant for the Company and contains all the covenants and agreements between the parties with respect to the rendering of
such services in any manner whatsoever. Each party to 
 

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this
agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein, and that no other agreement, statement,
or promise not contained in this agreement shall be valid or binding. Any modification of this agreement will be effective only if it is in writing signed by the party to be charged. 
 
11. This agreement will be governed by and construed in accordance with the laws of the State of California,
without regard to its conflicts of laws provisions; and the parties agree that the proper venue for the resolution of any disputes hereunder shall be Alameda County, California. 
 
12. For purposes of this Agreement, Intellectual Property will mean (i) works, ideas, discoveries, or
inventions eligible for copyright, trademark, patent or trade secret protection; and (ii) any applications for trademarks or patents, issued trademarks or patents, or copyright registrations regarding such items. Any items of Intellectual Property
discovered or developed by the Consultant (or the Consultant’s employees) during the term of this Agreement will be the property of the Consultant, subject to the irrevocable right and license of the Company to make, use or sell products and
services derived from or incorporating any such Intellectual Property without payment of royalties. Such rights and license will be exclusive during the term of this Agreement, and any extensions or renewals of it. After termination of this
Agreement, such rights and license will be nonexclusive, but will remain royalty-free. Notwithstanding the preceding, the textual and/or graphic content of materials created by the Consultant under this Agreement (as opposed to the form or format of
such materials) will be, and hereby are, deemed to be “works made for hire” and will be the exclusive property of the Company. Each party agrees to execute such documents as may be necessary to perfect and preserve the rights of either
party with respect to such Intellectual Property. 
 
13. The written, printed, graphic, or electronically recorded materials furnished by the Company for use by the Consultant are Proprietary Information and are the property of the Company. Proprietary Information includes, but is not
limited to, product specifications and/or designs, pricing information, specific customer requirements, customer and potential customer lists, and information on Company’s employees, agent, or divisions. The Consultant shall maintain in
confidence and shall not, directly or indirectly, disclose or use, either during or after the term of this agreement, any Proprietary Information, confidential 
 

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information,
or know-how belonging to the Company, whether or not is in written form, except to the extent necessary to perform services under this agreement. On termination of the Consultant’s services to the Company, or at the request of the Company
before termination, the Consultant shall deliver to the Company all material in the Consultant’s possession relating to the Company’s business. 
 
14. The obligations regarding Proprietary Information extend to information belonging to customers and suppliers of the Company about
which the Consultant may have gained knowledge as a result of performing services hereunder. 
 
15. The Consultant shall not, during the term of this agreement and for a period of one year immediately after the termination of this agreement, or any extension of it, either directly or indirectly
(a) for purposes competitive with the products or services currently offered by the Company, call on, solicit, or take away any of the Company’s customers or potential customers about whom the Consultant became aware as a result of the
Consultant’s services to the Company hereunder, either for the Consultant or for any other person or entity, or (b) solicit or take away or attempt to solicit or take away any of the Company’s employees or consultants either for the
Consultant or for any other person or entity. 
 
16. The Company will indemnify and hold harmless Consultant from any claims or damages related to statements prepared by or made by Consultant that are either approved in advance by the Company or entirely based on information
provided by the Company. 
 

	 Consultant:
 PITER KOROMPIS
	 	 Company:
 CALYPTE BIOMEDICAL CORPORATION

	
	 /s/    PITER KOROMPIS

	 	 By:
	 	 /s/    RICHARD BROUNSTEIN

	 	 	 	 	 Richard Brounstein
 Executive Vice President & CFO

 

13Advisory Agreement - Jeff Georgino

 
Exhibit 4.1(b)

 
ADVISORY AGREEMENT 
Between Calypte Biomedical Corporation 
and Jeff Georgino 
 
THIS ADVISORY AGREEMENT (“Agreement”), made as of April 1, 2003, is by and between CALYPTE BIOMEDICAL., a Delaware
corporation (the “Company”), and Jeff Georgino (the “Advisor”). In consideration of the mutual covenants contained in this Agreement, the Company and Advisor hereby agree as follows: 
 
1. Advisory Period. The Company will engage
Advisor for an initial period commencing April 1, 2003 and ending December 31, 2003 (the “Initial Advisory Period”), and thereafter, the Agreement shall automatically renew for additional periods of one year each (the “Renewal
Advisory Periods”) (collectively, the “Advisory Period”), unless either party provides written notice of termination to the other at least ten (10) days prior to the expiration of the Initial Advisory Period, or any Renewal Advisory
Period. 
 
2. Advisory Services.
During the Advisory Period, Advisor shall report to the Company’s Executive Chairman (“Chairman”) and will provide advisory services to the Company as necessary to accomplish the objectives set forth. Specifically, Advisor shall
provide the Company with the following (the “Advisory Services”): 
 
(a) Introductions and advice related to the recruitment of board members and advisory board members, 
 
(b) Such other matters as may be determined from time-to-time by the Board with the consent of Advisor. 
 
(c) Development of a business plan, including
acquisition strategy. 
 
Advisor agrees to exercise
the highest degree of professionalism and to utilize his expertise and creative talents in performing the Advisory Services. 
 
Company specifically acknowledges that its relationship with Advisor is not exclusive, and that during the Advisory Period Advisor may
engage in other work and/or projects on behalf of himself or other persons or entities that are not directly related to the Company, at Advisor’s sole discretion. Advisor specifically acknowledges that Company may at its sole discretion engage
other advisor(s) to serve in a similar capacity to Advisor as contained in this agreement. 
 

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3.
Advisory Fees and Administrative Costs. As compensation for advisory services rendered pursuant to this Agreement, Company shall: 
 
Issue the Advisor a (the “Advisory Fee”). The Company shall cause the Advisory Fee to be registered with Securities Exchange
Commission under available form as soon as practical. In consideration for the services to be performed by Consultant, the Company will immediately grant Consultant 10,400,000 shares of the Company’s Common Stock. 
 
Reimburse Advisor for pre-approved expenses. 
 
4. Business Expenses. The Company shall
reimburse Advisor for the reasonable cost of all corporate travel, hotels, meals and other business expenses Advisor incurs on behalf of the Company pursuant to this Agreement and pursuant to standard company policies. The Company shall have the
right to make flight, auto and hotel reservations and pay for such reservations in advance or arrange for payment to the travel vendor at time of expense incurrence. No material expenditure shall be undertaken without the express prior approval of
an authorized officer of the Company. Advisor shall submit to the Company receipts or other documentation sufficient to reflect any such claimed expenses. . 
 
5. Reports. The consultant will provide to Calypte’s Executive Chairman a written report of services rendered and
results thereof no less than quarterly and that report will be issued within 30 days of quarter end. E.g. July 31, 2003 for the period ended June 30, 2003 and then within 30 days of the conclusion of the agreement. 
 
6. Independent Contractor Relationship.
Advisor’s relationship with the Company is that of an independent contractor, and nothing in this Agreement is intended to, or should be construed to, create a partnership, agency, joint venture or employment relationship. Advisor will not be
entitled to any of the benefits that the Company may make available to its employees, including, but not limited to, group health or life insurance, profit sharing or retirement benefits. Advisor is solely responsible for, and will file, on a timely
basis, all tax returns and payments required to be filed with, or made to, any federal, state or local tax authority with respect to the performance of services and receipt of fees under this Agreement. No part of Advisor’s compensation will be
subject to withholding by the Company for the payment of any social security, federal, state or any other employee payroll taxes. The Company will regularly report amounts paid to Advisor by filing Form(s) 1099-MISC with the Internal Revenue Service
as required by law. Further, the consulting services shall not involve and the Consultant is not engaged in services in connection with the offer or sale of securities in a capital-raising transaction for Calypte, and further, the Consultant
does not and will not directly or indirectly promote or maintain a market for Calypte’s securities. 
 
7. Termination. The Company may terminate this Agreement at any time, without Cause in its sole discretion, and Advisor may
terminate this Agreement at any time without Good Reason in its sole discretion upon giving thirty (30) days written 
 

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notice to the other party
(“Effective Termination Date”). The Company may terminate this Agreement for Cause, and Advisor may terminate this Agreement for Good Reason, upon giving written notice to the other party, which shall be the Effective Termination Date in
such event. 
 
In the event the Company terminates
this Agreement without Cause, or Advisor terminates this Agreement for Good Reason, (a) the Company shall pay Advisor a termination fee equal to the amount of Advisory Fees Advisor would have been entitled to receive had the Advisor continued to
perform services hereunder through the end of the Initial Advisory Period or the Renewal Advisory Period in which the Effective Termination Date falls (“Termination Advisory Period”). If the Company terminates this agreement for Cause or
Advisor terminates this agreement without Good Reason, then the agreement will terminate upon the Effective Termination Date without further obligation by the Company to pay additional fees to Advisor, including the termination fees, with only the
fees and options vested to date remaining the property of Advisor. As used herein, “Cause” shall mean: (a) Advisor’s indictment or conviction (including a no contest or guilty plea) of any felony or of any crime involving dishonesty
or moral turpitude; or (b) Advisor’s participation in a fraud or willful misconduct that materially damages the Company. 
 
As used herein, “Good Reason” shall mean: (a) the Company makes a general assignment for the benefit of creditors, files a voluntary bankruptcy
petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, there shall have been filed any petition or application for the involuntary bankruptcy
of Company, or other similar proceeding, in which an order for relief is entered or which remains undismissed for a period of 30 days or more, or the Company seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator
of the Company or any material party of its assets; (b) the Company makes material changes to the nature or extent of the Advisory Services without Advisor’s express written consent; or (c) the Company fails to pay Advisor the compensation and
benefits required under this Agreement. 
 
8.
Indemnification. To the fullest extent permitted by applicable law, the Company agrees to indemnify, defend and hold Advisor and its affiliates, officer, directors, etc. harmless from any and all claims, actions, costs, expenses, damages
and liabilities including, without limitation, reasonable attorneys’ fees, hereafter or heretofore arising out of or in connection with his performance of the Advisory Services or other activities on behalf of the Company, or by reason of the
fact that he is or was a director or officer of the Company or any affiliate of the Company. To the fullest extent permitted by applicable law, the Company shall advance to Advisor the anticipated and actual expenses necessary to defending any such
action, claim or proceeding. The Company shall not be obligated to indemnify Advisor or defend Advisor against, or hold him harmless from, any claims, damages, expenses or liabilities, including attorneys’ fees, resulting from the gross
negligence or willful misconduct of Advisor. For purposes of this paragraph, no act, or failure to act, on the part of the Advisor shall be considered “willful” unless done, or omitted to be done, not in good faith and without reasonable

 

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belief by him that his action
or omission was in the best interests of the Company, as determined by the final judgment of a court of competent jurisdiction. The duty to indemnify shall survive the expiration or early termination of this Agreement as to any claims based on facts
or conditions that occurred or are alleged to have occurred prior to such expiration or termination. 
 
9. Successors and Assigns. Advisor may not subcontract or otherwise delegate his obligations under this Agreement without
the Company’s prior written consent. Subject to the foregoing, this Agreement will be for the benefit of the Company’s successors and assigns, and will be binding on Advisor’s assignees. 
 
10. Notices. Any notice required or permitted by
this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by telecopy or
facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt. Notices shall be sent to the following addresses: 
 

	 If to Advisor:
 Jeff Georgino
 3003 3rd Street, #4
 Santa Monica, CA 90405
	 	 If to Company:
 Calypte Biomedical, Attn: Tony Cataldo
 1265 Harbor Bay Parkway
 Alameda, CA 94502

 
11.
Governing Law. This Agreement shall be governed in all respects by the laws of the State of California, as such laws are applied to agreements entered into and to be performed entirely within California between California residents.

 
12. Severability. Should any
provisions of this Agreement be held by a court of law to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby. 
 
13. Board Approval. The issuance of any shares
provided hereunder shall be effective upon approval by the Board of Directors of the Company, not to be unreasonably withheld. All other terms and conditions set forth herein are immediately effective as to both parties. 
 
13. Jurisdiction. This agreement is subject to the laws
and regulations of the State of California, County of Los Angeles. 
 

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14. Entire
Agreement. This Agreement constitutes the entire agreement between the parties relating to this subject matter and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. This Agreement may only be
changed by mutual agreement of authorized representatives of the parties in writing. 
 

	 Consultant:
	 	 	 	 CALYPTE BIOMEDICAL CORPORATION

	
	 /s/    JEFF GEORGINO

	 	 	 	 By:
	 	 /s/    TONY CATALDO

	 Jeff Georgino
	 	 	 	 	 	 Tony Cataldo
 Executive Chairman

 

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