Document:

ex103.htm

EXHIBIT 10.3

 

SUPPLY OF SERVICES AGREEMENT

 

 

THIS SUPPLY OF SERVICES AGREEMENT (the “Agreement”) is entered into with effect from 1st July 2009 the “Effective
Date”, between Flex Fuels Energy Inc., a Nevada corporation (the “Company”), and The ARM Partnership (“ARM”), of 3rd Floor, 14 South Molton Street, London W1K 5QP, a UK Partnership of which Robert Galvin and Martin Thorp are Contractors, whereby ARM agrees to provide certain services (“the Services”) to be provided by Robert Galvin
(“the Contractor”) to the Company. The Parties to this Agreement are the Company, ARM and the Contractor.

 

The Contractor agrees to provide such services and to be bound by this Agreement as if he had entered into it in his own right as a self employed contractor in the event that ARM is no longer able to procure or does not procure the Services for whatever reason and, likewise, the Company agrees that the Agreement shall continue in full
force as if it were a contract between the Contractor and the Company in the event of the dissolution of ARM. In such circumstances references to ARM herein shall be construed as references to the Contractor as a self employed contractor.

 

NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements contained herein, and for other valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE I Definitions and Interpretations

 

1.1 Definitions

 

For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires, the following terms shall have the following respective meanings:

 

“Base Fee” shall have the meaning specified in Section 3.1.

 

“Board of Directors” shall mean the Board of Directors of the Company.

 

“Cause” shall have the meaning specified in Section 4.3.

 

“Company” will also include its subsidiaries, parents and affiliates where it is reasonably logical the use of the word would include such other entities, and include any successor to its business and/or substantially all its assets which executes and delivers the Agreement
as provided for in Section 7.4 or which otherwise becomes bound by all terms and provisions of this Agreement by operation of law.

 

“Confidential Information” shall have the meaning specified in Section 5.1(a).

 

“Disability” shall mean a physical or mental condition of one of the Contractors that, in the good faith judgment of not less than a majority of the Board of Directors, prevents that individual from being able to perform the services required under this Agreement. If
any dispute arises as to whether a Disability has occurred, or whether a Disability has ceased and the Contractor is able to resume duties, then such dispute shall be referred to a licensed physician mutually agreed upon by the Contractor and the Company, which physician will not be any of the Contractor’s regular physicians.  The Contractor shall submit to such examinations and provide information as such physician may request and the determination of such physician as to the Contractor's physical
or mental condition shall be binding and conclusive on the parties.  The Company shall pay the cost of any such physician and examination.

 

 

 

1

 

 

 

“Dispute” shall have the meaning specified in Article VI.

 

 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

“Expiration Date” shall have the meaning specified in Section 2.2.

 

“Notice of Termination” shall mean a notice purporting to terminate this Agreement in accordance with Section 4.1, 4.2 or 4.3.

 

“Person” shall mean and include an individual, a Partnership, a joint venture, a corporation, a trust and an unincorporated organization.

 

“Incentive Fee” shall have the meaning specified in Section 3.2.

 

“Term” shall have the meaning specified in Section 2.2.

 

“Termination Date” shall mean the termination date specified in a Notice of Termination delivered in accordance with this Agreement.

 

1.2 Interpretations

 

(a) In this Agreement, unless a clear contrary intention appears, (i) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any
particular Article, Section or other subdivision, (ii) reference to any Article or Section, means such Article or Section hereof, (iii) the words “including” (and with correlative meaning “include”) means including, without limiting the generality of any description preceding such term, and (iv) where any provision of this Agreement refers to action to be taken by either party, or which such party is prohibited from taking, such provision shall be applicable whether such action is taken
directly or indirectly by such party.

 

(b) For the avoidance of doubt this Agreement refers to the provision of certain services to be provided by the Contractor in his capacity as a Contractor of ARM. Robert Galvin, as Contractor of ARM, shall be responsible to the Board
of Directors, through the Chief Executive Officer of the Company, for the overall service delivery standard of ARM under this Agreement.

 

(c) The Article and Section headings herein are for convenience only and shall not affect the construction hereof.

 

(d) For the avoidance of doubt it is specifically agreed between the Parties that nothing in this agreement shall be construed as inferring any employment rights and obligations between the Company and/or any of its subsidiaries and associates
and the Contractor or ARM and, as a result, the Company shall have no obligation or right to make any withholding tax deductions, unless required to do so by law. ARM warrants and represents to The Company that it shall be solely responsible for any income, social security or other taxation liabilities that are payable on the compensation referred to herein. The Company agrees that it or any subsidiary that benefits from the service provided by ARM will pay VAT, if any, that is payable or is subsequently deemed
to be payable on invoices raised by ARM, even if such VAT is not initially included in invoices by virtue of the Parties understanding that the service provided are not subject to VAT because they are effectively exported and therefore believes to be zero rated.

 

ARTICLE II Services, Compensation etc.

 

2.1 Service Arrangement

 

The Company agrees to contract with ARM to provide the Services of the Contractor as further described herein, ARM agrees to procure that the Contractor provides such services and the Contractor agrees to provide such services.

 

 

 

2

 

 

 

2.2 Term of Agreement

 

Unless sooner terminated pursuant to Article IV, the term of this Agreement (the “Term”) shall end on the 30th June, 2010 (the “Expiration
Date”), being one year after the date that the contractor commenced the provision of services to the company under predecessor agreements, subject to extension as herein provided.  The Term will be automatically extended by an additional 12 months unless one party gives written notice to the other at least 6 months before the then effective Expiration Date indicating that the party does not extend Term of the Agreement.  If the Term is extended, then the Expiration Date will be
automatically extended by a corresponding 12 months.  The right not to extend the Term and corresponding Expiration Date is separate from the right to give a Notice of Termination herein.

 

2.3 Services

 

(a) During the Term of the Agreement, the Contractor shall provide such professional and related services as are commensurate with the Office of Chief Financial officer of the Company, support with Capital Raisings and Mergers and Acquisitions
and/or such other equivalent services as shall be agreed between ARM and the Contractor with the Board of Directors from time to time. In addition ARM shall procure and the Contractor shall agree that the Contractor shall accept appointment as a director and/or officer of the Company and its subsidiaries, as shall be agreed from time to time with the Company, and, as such, the Contractor shall have the responsibilities and authorities designated to him by the bylaws of the Company, if stated therein, and the
Board of Directors.

 

(b) During the Term of the Agreement, the Contractor shall (i) report to the Board of Directors and (ii) observe and comply with all lawful policies, directions and instructions of the Board of Directors and the Company that are consistent
with the provisions of this paragraph 2.3.

 

(c) During the Term of the Agreement, the Contractor shall (i) devote his business time, attention, skill and efforts to the faithful and efficient performance of the provision of the Services as is reasonably required, subject always
to a maximum average time commitment by each Contractor of 1.5 days a week for 46 weeks in any one year (the “Time Commitment”), to be extended if required, subject to the Contractor’s availability, in accordance with the provisions of sub-clause (d) below.

 

(d) The Contractor shall maintain outline records of time spent in accordance with this Agreement for the purposes of compliance with (c) above, which shall show those days when the Contractor sets aside time to be available for discharging
his responsibly under this Agreement and his activity by broad type. These records may be requested and reviewed by the Chief Executive Officer from time to time who on occasion request that further information is included on a prospective basis, subject to such requests being reasonable and not onerous. In the event that the Contractor consistently spends more time in discharging his responsibilities than the agreed Time Commitment or believes that he will do so for a particular reason, the Board of Directors
may, at their sole discretion, make a further time based payment to ARM for the additional time committed by the Contractor, on either a permanent or temporary (for example project based) basis. Such further payments may be applied for, in writing to the Board of Directors, by and at the discretion of the Contractor and the Chief Executive Officer of the Company at any time.

 

(e) The Company acknowledges that ARM has several other clients and that the Contractor has other commitments which he needs to attend to. ARM and the Contractor agree as follows: (i) to not accept any other client that may create a conflict
with services to be provided to the Company and (ii) to take reasonable steps to resign its role in relation to any client that may come into conflict with the Company and (iii) to accept the decision of the Board of Directors of the Company as to whether a conflict situation exists and to draw any client situation to the attention of the Board of Directors if ARM believes that a conflict does or may arise

 

(f) During the currency of this Agreement, the Contractor and ARM shall not knowingly prejudice, in any material respect, the reputation of the Company in the fields of business in which it is engaged or with the investment community
or the public at large.

 

(g) If elected or appointed thereto, and only for the duration of such elected term or appointment, the Contractor shall, as an integral part of and to facilitate the provision of the Services referred to herein, serve as a director and/or
officer of the Company and any of its subsidiaries and/or in one or more executive positions of any of such subsidiaries, provided that the Contractor is indemnified for serving in any and all such capacities on a basis consistent with that provided by the Company to other directors and executive officers of the Company or similarly situated executive officers of any such subsidiaries.

 

(h) ARM and the Contractor represent that there are no restrictions imposed upon it or them by any covenants or agreements arising out of any prior engagement which materially affect its or their ability to provide the services set forth
in this Agreement. ARM agrees to indemnify and hold the Company harmless for any judgment and related costs, including attorney’s fees, which may be entered against the Company as a result of a breach of any such covenants or violation of any such restrictions, and agrees that any such breach or violation shall qualify for “Cause” termination pursuant to Section 4.3 below.

 

 

3

 

 

ARTICLE III Fees and Expenses

 

3.1 Base Fee

 

(a) For services rendered by ARM under this Agreement, the Company shall pay to ARM a base monthly fee of GBP £4,200 to be paid at the end of each month in pounds sterling to a bank account nominated by ARM and maintained in its
name. The amount is exclusive of any VAT that is or may be payable.

 

(b) The Contractor shall be granted such stock warrants as the Company shall for time to time agree to grant as further consideration for the Services and to provide incentive.

 

(c) The Contractor shall be entitled to participate in any bonus scheme arrangements that the Company deems as appropriate to incentivize and reward exceptional efforts by the Contractor in carrying out his services.

 

3.2 Incentive Fee

 

During the Term, the Parties may agree from time to time to modify this Agreement so as to engage ARM to provide services over and above those set out in this Agreement and/or to provide incentive to ARM to add exceptional value by virtue of its corporate finance / M&A know-how and expertise and / or network.

 

3.3 Period of Absence

 

The Company accepts that the Contractor may from time to time take vacation from his full time client commitments at ARM, including to the Company (Period of Absence). During such periods ARM shall ensure that adequate base coverage is provided by ARM so as not to prejudice the quality of the overall service. On no account shall the Contractor
take a Period of Absence other than in accordance with the following: (a) it shall be within the overall average annual Time Commitment calculation; (b) it shall only exceed 5 consecutive business days with the prior agreement of the Chief Executive Officer of the Company, which shall not be unreasonably denied.

 

3.4 Expense Reimbursement

 

The Company shall reimburse ARM for all reasonable travel and other business expenses incurred by its Contractors in the performance of the Services. Such expenses shall be submitted monthly in arrears and ARM shall retain and make available for inspection all supporting vouchers for the
duration of the Agreement. Expense reimbursements shall be made in line with the principles set out in the Companies policies that apply to its employees as modified by agreement from time to time made in writing between the Parties.

 

ARTICLE IV Termination

 

4.1 Termination by ARM

 

ARM may, at any time prior to the Expiration Date, terminate the provision of the Agreement for any reason by delivering a Notice of Termination to the Board of Directors.  The Notice of Termination shall be effective not less than 90 days after the date of the notice and state the effective Termination Date and if none is specified
then the Termination Date will be the 90th day after the date of the Notice of Termination.  The Termination Date under this provision may be beyond the Expiration Date.

 

4.2 Termination by the Company

 

The Board of Directors may, at any time six months after the date of this Agreement and prior to the Expiration Date, terminate the Agreement for any reason by delivering a Notice of Termination to ARM and the Contractor.  The Notice of Termination by the Company shall be effective not less than 90 days after the date of the
notice and state the effective Termination Date and if none is specified then the Termination Date will be the 90th day after the date of the Notice of Termination.  The Termination Date under this provision may be beyond the Expiration Date.

 

4.3 Termination for Cause

 

The Company may terminate the Agreement for “Cause” upon the giving of a Notice of Termination to ARM and the Contractor, subject to the terms of this sub-part, which shall be effective immediately.  The Notice of Termination for Cause shall state the basis for the notice.  The
Company shall have “Cause” to terminate the Agreement during the Term of this Agreement, if the Contractor’s actions result in:

 

 

 

4

 

 

 

(a) Failure to materially provide the Services to a reasonable standard after written notice and reasonable opportunity for cure, all as reasonably determined by the Board of Directors upon a vote of a majority of its members, such vote
not including any ARM Partner.  Any such notice will allow for a minimum of one (1) month for the Contractor and/or ARM to cure such failure from the date of such notice.  Any determination of whether the Contractor has failed to materially perform his duties shall not be based on performance or the financial condition of the Company or the ability of ARM or the Contractor to effectuate such Company performance or financial condition.

 

(b) Conviction of the Contractor of a felony or any crime involving embezzlement or theft during the Term or any embezzlement or theft from the Company whether or not the subject of a conviction; or

 

(c) Serious willful misconduct by the Contractor, including fraud willful dishonesty or the substantial breach of any fiduciary duty owed to the Company.

 

4.4 Resignations

 

In the event of a termination of this Agreement the Contractor shall immediately resign any office or directorship in the Company or any of its Subsidiaries of Associates which he holds by virtue of this Agreement or otherwise this contract is to be replaced with a similar contract under circumstances
where at its sole discretion the Board of Directors shall determine that the Contractor should continue to serve in any office or directorship.

 

4.5 Payment in the event of Termination.

 

(a) After the termination of the Agreement for any reason by the Company, including the inability of ARM to provide services due to disability of the Contractor, but other than for Cause, the Company shall pay to ARM the aggregate of
(i) any unpaid Base Fee earned by that Contractor hereunder prior to the Termination Date and any unreimbursed expenses, plus an amount equal to the equivalent of the daily per diem rate inherent in the base fee multiplied by the number of excess days spent prior to the Termination Date over the number of days in the current annual period spent in excess of the Time Commitment apportioned on a straight line time basis, AND (ii) an amount, which is to be regarded as compensation for early termination, equal to
the Base Fee which would otherwise have been due from the Termination Date to the then Expiration Date of the then Term, if the Expiration Date is after the Termination Date.

 

(b) Upon termination of the Agreement by the Company for Cause the Company shall pay ARM the unpaid Base Fee earned through the Termination Date and unreimbursed, actual expenses incurred by Executive in furtherance of the Company’s
business, subject to any rights of set off for damages to the Company as it asserts.  Except as provided in this agreement or by law, upon termination for Cause, the Company shall have no further financial obligation to Executive.

 

(c) Upon termination of the Agreement by ARM (and for this purpose the death of the Contractor shall be regarded as Termination by ARM with Notice given from the date of the Contractor’s death) the Company shall pay ARM any unpaid
Base Fee earned hereunder prior to the Termination Date and any unreimbursed expenses, plus an amount equal to the equivalent of the daily per diem rate inherent in the base fee multiplied by the number of excess days spent prior to the Termination Date over the number of days in the current annual period spent in excess of the Time Commitment apportioned on a straight line time basis.

 

ARTICLE V Confidential Information and Non-Competition

 

5.1 Confidential Information

 

(a) ARM and the Contractor recognize that the services to be performed hereunder are special, unique, and extraordinary and that, by reason of the Agreement, the Contractor and ARM may acquire Confidential Information concerning the operation
of the Company, the use or disclosure of which would cause the Company substantial loss and damages which could not be readily calculated and for which no remedy at law would be adequate.  Accordingly, the Contractor  and ARM agree with the Company that they will not (directly or indirectly) at any time, whether during or after the Term, (i) knowingly use for an improper personal benefit any Confidential Information that the Contractor may learn or has learned by reason of the Agreement with
the Company or (ii) disclose any such Confidential Information to any Person except (A) in the performance of ARM’s obligations to the Company hereunder, (B) as required by applicable law, (C) in connection with the enforcement of ARM’s rights under this Agreement, (D) in connection with any disagreement, dispute or litigation (pending or threatened) between the Contractor or ARM and the Company or (E) with the prior written consent of the Board of Directors.  As used herein, “Confidential
Information” includes information with respect to the operation and performance of the Company, its investments, portfolio companies, products, services, facilities, product methods, research and development, trade secrets and other intellectual property, systems, patents and patent applications, procedures, manuals, confidential reports, product price lists, customer lists, financial information, business plans, prospects or opportunities (including, as applicable, all of the foregoing information
regarding the Company's past, current and prospective portfolio companies); provided, however, that such term, shall not include any information that (x) is or becomes generally known or available other than as a result of a disclosure by the Contractor or (y) is or becomes known or available to the Contractor on a non-confidential basis from a source (other than the Company) that, to the Contractor's knowledge, is not prohibited from disclosing such information to the Contractor by a legal, contractual, fiduciary
or other obligation to the Company.

 

 

 

5

 

 

 

(b) The Contractor and ARM each confirm that all Confidential Information is the exclusive property of the Company.  All business records, papers and documents kept or made by the Contractor or ARM during the Term relating to
the business of the Company shall be and remain the property of the Company at all times.  Upon the request of the Company at any time, the Contractor and ARM shall promptly deliver to the Company, and shall retain no copies of, any written materials, records and documents made or coming into the Contractor’s or ARM’s possession during the Term concerning the business or affairs of the Company other than personal materials, records and documents (including notes and correspondence) of the
Contractor not containing proprietary information relating to such business or affairs.  Notwithstanding the foregoing, the Contractor and ARM shall be permitted to retain copies of, or have access to, all such materials, records and documents relating to any disagreement, dispute or litigation (pending or threatened) between them and the Company.

 

5.2 Non-Competition

 

(a) Within the Term of the Agreement and for a period of one year thereafter (such period being the “Restricted Period”), the Contractor and ARM shall not, unless the
Contractor and ARM receives the prior written consent of the Board of Directors, own a material interest in, manage, operate, join, control, lend money or render financial or other assistance to or participate in or be connected with, as an officer, employee, Contractor, stockholder, consultant or otherwise, any Person that competes with the Company in owning, operating or managing a bioethanol or biodiesel plant, or any other business actively being pursued by or developed by the Company during the Term.

 

(b) The Contractor and ARM have carefully read and considered the provisions of this Section 5.2 and, having done so, agrees that the restrictions set forth in this Section 5.2 (including the Restricted Period, scope of activity to be
restrained and the geographical scope) are fair and reasonable and are reasonably required for the protection of the interests of the Company, its officers, directors, employees, creditors and shareholders.  The Contractors understand that the restrictions contained in this Section 5.2 may limit their and ARM’s ability to engage in a business similar to the Company's business, but acknowledges that ARM will receive sufficiently high remuneration from the Company hereunder to justify such restrictions.

 

(c) During the Restricted Period, the Contractor and ARM shall not, whether for their own account or for the account of any other Person (excluding the Company), intentionally (i) solicit, endeavor to entice or induce any employee or
contractor of the Company to terminate the Executive's employment or contractors contract with the Company or accept employment with anyone else or (ii) interfere in a similar manner with the business of the Company including its contracting parties, customers or clients, suppliers, creditors and financiers.

 

(d) In the event that any provision of this Section 5.2 relating to the Restricted Period or the areas of restriction shall be declared by a court of competent jurisdiction to exceed the maximum time period or areas such court deems reasonable
and enforceable, the Restricted Period or areas of restriction deemed reasonable and enforceable by the court shall become and thereafter be the maximum time period and/or areas.

 

5.3 Injunctive Relief

 

ARM and the Contractor acknowledge that a breach of any of the covenants contained in this Article V may result in material irreparable injury to the Company for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of such a breach, any payments remaining
under the terms of this Agreement shall cease and the Company shall be entitled to obtain a temporary restraining order or a preliminary or permanent injunction restraining the Contractor and ARM from engaging in activities prohibited by this Article V or such other relief as may be required to specifically enforce any of the covenants contained in this Article V.  ARM agrees to and hereby does submit to in personal jurisdiction before each and every such court for that purpose.

 

ARTICLE VI Dispute Resolution

 

6.1 Disputes

 

In the event a dispute shall arise between the parties as to whether the provisions of this Agreement have been complied with (a “Dispute”), the parties agree to resolve such Dispute in accordance with the following procedure:

 

(a) A meeting shall be held promptly between the parties, attended (in the case of the Company) by one or more individuals with decision-making authority regarding the Dispute, to attempt in good faith to negotiate a resolution of the
Dispute.

 

(b) If, within 10 days after such meeting, the parties have not succeeded in negotiating a resolution of the Dispute, the parties agree to submit the Dispute to mediation in accordance with the Commercial Mediation Rules of the American
Arbitration Association except that Disputes with regard to the existence of a Disability shall be resolved in accordance with the definition of the term “Disability” above.

 

 

 

6

 

 

(c) The parties will jointly appoint a mutually acceptable mediator, seeking assistance in such regard from the American Arbitration Association if they have been unable to agree upon such appointment within 10 days following the 10-day
period referred to in clause (b) above.

 

(d) Upon appointment of the mediator, the parties agree to participate in good faith in the mediation and negotiations relating thereto for 15 days.

 

(e) If the parties are not successful in resolving the Dispute through mediation within such 15-day period, the parties agree that the Dispute shall be settled by arbitration in accordance with the Expedited Procedures of the Commercial
Arbitration Rules of the American Arbitration Association.

 

(f) The fees and expenses of the mediator/arbitrators shall be borne solely by the non-prevailing party or, in the event there is no clear prevailing party, as the mediator/arbitrators deem appropriate.

 

(g) Except as provided above, each party shall pay its own costs and expenses (including, without limitation, attorneys' fees) relating to any mediation/arbitration proceeding conducted under this Article VI.

 

(h) All mediation/arbitration conferences and hearings will be held in the greater New York City area.

 

(i) In the event there is any disputed question of law involved in any arbitration proceeding, such as the proper legal interpretation of any provision of this Agreement, the arbitrators shall make separate and distinct findings of all
facts material to the disputed question of law to be decided and, on the basis of the facts so found, express their conclusion of the question of law.  The facts so found shall be conclusive and binding on the parties, but any legal conclusion reached by the arbitrators from such facts may be submitted by either party to a court of law for final determination by initiation of a civil action in the manner provided by law.  Such action, to be valid, must be commenced within 20 days after receipt
of the arbitrators' decision.  If no such civil action is commenced within such 20-day period, the legal conclusion reached by the arbitrators shall be conclusive and binding on the parties.  Any such civil action shall be submitted, heard and determined solely on the basis of the facts found by the arbitrators.  Neither of the parties shall, or shall be entitled to, submit any additional or different facts for consideration by the court.  In the event any civil action
is commenced under this paragraph (i), the party who prevails or substantially prevails (as determined by the court) in such civil action shall be entitled to recover from the other party all costs, expenses and reasonable attorneys' fees incurred by the prevailing party in connection with such action and on appeal.

 

(j) Except as limited by paragraph (i) above, the parties agree that judgment upon the award rendered by the arbitrators may be entered in any court of competent jurisdiction.  In the event legal proceedings are commenced to
enforce the rights awarded in an arbitration proceeding, the party who prevails or substantially prevails in such legal proceeding shall be entitled to recover from the other party all costs, expenses and reasonable attorneys' fees incurred by the prevailing party in connection with such legal proceeding and on appeal.

 

(k) Except as provided above, (i) no legal action may be brought by either party with respect to any Dispute and (ii) all Disputes shall be determined only in accordance with the procedures set forth above.

 

ARTICLE VII Miscellaneous

 

7.1 Assignability

 

The obligations of ARM hereunder are personal to the Contractor and may not be assigned or delegated by ARM or transferred in any manner whatsoever, nor are such obligations subject to involuntary alienation, assignment or transfer.  The Company shall have the right to assign this Agreement and to delegate all rights, duties
and obligations hereunder as provided in Section 4, provided always that it will continue to be liable for the obligations of the assignee in the event of default by the assignee.

 

7.2 Notices

 

All notices and all other communications provided for in the Agreement shall be in writing and addressed (i) if to the Company, addressed at its principal office address or such other address as it may have designated by written notice to the Executive for purposes hereof, directed to the attention of the CEO with a copy to the Secretary
of the Company and (ii) if to ARM or its Contractors, at ARM’s principal office location of 14 South Molton Street, London W1K 5QP for the attention of its Managing Partner, or to such other address as ARM may have designated to the Company in writing for purposes hereof.  Each such notice or other communication shall be deemed to have been duly given when delivered to the receiving party by recognized international courier company such as Federal Express to the address referred to above where
such delivery requires signature as proof of delivery by the receiving party.

 

 

 

7

 

 

 

7.3 Severability

 

The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

 

7.4 Successors: Binding Agreement

 

(a) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, by agreement in form and substance reasonably
acceptable to ARM, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  Failure of the Company to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Agreement.

 

(b) This Agreement and all rights of ARM and/or the Contractor hereunder shall inure to the benefit of and be enforceable by ARM and by the Contractor’s personal or legal representatives, executors, administrators, successors, heirs,
distributes, devisees and legatees.  If the Contractor should die while any amounts would be payable to ARM hereunder if the Contractor had continued to live, all such amounts, unless otherwise provided herein, shall be paid, in an amount calculated in accordance with the terms of this Agreement, to the Contractor’s devisee, legatee, or other designee (as notified to ARM and the Company) or, if there be no such designee, to the Executive's estate. For the avoidance of doubt the Company and ARM
agrees that such payments will be made in this manner.

 

7.5 Amendments and Waivers

 

No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by ARM and the Company.  No waiver by either party hereto at any time of any breach by the other party hereto of, or in compliance with, any condition or provision of this Agreement
to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

 

7.6 Entire Agreement, Termination of Other Agreements

 

This Agreement is an integration of the parties' agreement and no agreement or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party that are not set forth expressly in this Agreement. This Agreement supersedes any and all previous agreements, oral or otherwise,
express or implied, with respect to the subject matter hereof between the parties.

 

7.7 Governing Law

 

THE VALIDITY, INTERPRETATION, CONSTRUCTION AND PERFORMANCE OF THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICT OF LAWS PROVISIONS.

 

7.8 Counterparts

 

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

 

 

[Signature page follows]

 

 

 

 

8

 

 

 

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

 

	 	FLEX FUELS ENERGY, INC.	 
	 	 	 	 
	
 
	
By: 
	/s/ Tom Barr     	 
	 	 	Name: Tom Barr	 
	 	 	Title: Chief Executive Officer	 
	 	 	 	 

 

	 	THE CONTRACTOR	 
	 	 	 	 
	
 
	
By: 
	/s/ Robert Galvin	 
	 	 	Robert Galvin	 
	 	 	 	 
	 	 	 	 

	 	THE ARM PARTNERSHIP	 
	 	 	 	 
	
 
	
By: 
	/s/ Martin Thorp    	 
	 	 	Martin Thorp (Managing Partner)	 
	 	 	 	 
	 	 	 	 

	 	 	 
	 	 	 	 
	
 
	
By: 
	/s/ Robert Galvin 	 
	 	 	Robert Galvin (Partner)	 
	 	 	 	 
	 	 	 	 

 

 

 

9ex101.htm

EXECUTIVE EMPLOYMENT AGREEMENT

 

The Executive Employment Agreement (the "Agreement") is effective as of August 14, 2009 (the Effective Date") and is between Gen2Media Corp, a Nevada Corp. (the "Company") and Micheal Morgan (the "Employee").

 

RECITALS:

 

WHEREAS, the Company desires that the Employee become the Chief Operating Officer and Chief Technology Officer of the Company.

 

WHEREAS, the Employee desires to accept such role under the terms hereof.

 

NOW, THEREFORE, in consideration of the promises and mutual agreements herein set forth, the parties hereby agree as follows:

 

	
1.
	
Term of Employment. The period of employment of Employee by the Company under the Agreement (the Employment Period) shall be deemed to have commenced on the Effective Date and shall terminate in accordance with Section 6, however, if not terminated sooner, shall continue until August 13, 2012.

 

	
2.
	
Duties.

 

(a) During his employment by the Company, the Employee shall perform such duties as are customary and typical by an officer of a publicly traded company, and shall discharge such duties in a professional and diligent manner at all times, to the best of his abilities. Employee's employment shall also be subject to the policies maintained
and established by the Company, if any, as the same may be amended from time to time. Unless otherwise agreed by the Company and Employee, Employee's principal place of business with the Company shall be in Central Florida. Employee acknowledges and agrees that Employee owes a fiduciary duty of loyalty, fidelity and allegiance to act at all times in the best interests of the Company and to do no act that would injure the business, interests, or reputation of the Company or any of its Affiliates. In keeping with
these duties, Employee shall make full disclosure to the Board of Directors of all business opportunities pertaining to the business of the Company or its Affiliates and should not appropriate for Employee's own benefit business opportunities that fall within the scope of the businesses conducted by the Company and its Affiliates.

 

	
3. 
	
Compensation.

 

(a) Salary. The Company shall pay to Employee a base salary of $90,000 for year one, $100,000 for year two and $115,000 for year three, plus applicable bonuses and stock options as are awarded by the Board of Directors from time to time based on performance. As a guaranteed bonus, Employee will receive 3% of all net income of the company
as reported on it's 10-Q for each quarter during his term, which may be paid in either cash or stock at the election of employee (using the last closing price of the shares on day the 10-Q is filed). However, all salary hereunder shall be capped at $150,000 per year. 

 

Page 1 of 10

 

 

(b) Health Insurance. As additional compensation for the Employee, the Company shall provide or maintain the medical and health insurance benefits on the same terms and conditions as are made available to all employees of the Company
generally.

 

(c) Stock Options. The Company hereby grants to Employee the option to purchase 3,000,000 shares of common stock of Gen2, with 1 million being vested immediately and exercisable at the price of 1 cent per share, 500,000 at 25 cents per
share, 500,000 at 50 cents per share and 1,000,000 shares at 75 cents per share. The 1,500,000 that are not vested immediately shall vest over the life of this Agreement, pro-rata to each quarter served. The stock options shall be exercisable at any time within 3 years of vesting. Employee shall have full voting privileges for all vested options as if he had taken ownership of the shares.

 

	
4.
	
Vacation. Employee shall be entitled to paid vacation per year in accordance with the Company's standard Paid Time Off policies during each year of his employment under the Agreement.

 

	
5.
	
Reimbursement For Expenses. The Company shall reimburse the Employee within 30 days of the submission of appropriate documentation, and in no event later than the last day of the calendar year following the year in which an expense was incurred, for all reasonable and approved travel and entertainment expenses and other disbursements
incurred by him for or on behalf of the Company in the course and scope of his employment under the Agreement.

 

	
6.
	
Termination of Agreement.

 

(a) Death. The Agreement shall automatically terminate upon the death of Employee.

 

(b) Disability. If, as a result of Employee's incapacity due to physical or mental illness, Employee shall have been substantially unable, either with or without reasonable accommodation, to perform his duties hereunder for an entire
period of six (6) consecutive months, and within thirty (30) days after written Notice of Termination is given after such six (6) month period, Employee shall not have returned to the substantial performance of his duties on a full-time basis, the Company shall have the right to terminate Employee's employment hereunder for Disability, and such termination in
and of itself shall not be, nor shall it be deemed to be, a breach of the Agreement. Any dispute between the Employee and the Company regarding whether Employee has a Disability shall be determined in writing by a qualified independent physician mutually acceptable to the Employee and the Company. If the Employee and the Company cannot agree as to a qualified independent physician, each shall appoint a physician and those two physicians shall select a third who shall make such determination in writing.
The determination of Disability made in writing to the Company and Employee shall be final and conclusive for all purposes of the Agreement. Employee acknowledges and agrees that a request by the Company for such a determination shall not be considered as evidence that the Company regarded the Employee as having a Disability.

 

(c) Termination By Company For Cause. The Company may terminate the Agreement upon written notice to Employee at any time for "Cause" in accordance with the procedures provided below;

 

 

Page 2 of 10

 

 

(d) For purposes of the Agreement, "Cause" shall mean:

 

(i) the material breach of any provision of the Agreement by Employee which has not been cured within five business (5) days after the Company provides notice of the breach to Employee; provided, however, if the act or omission that is
the subject of such notice is substantially similar to an act or omission with respect to which Employee has previously received notice and an opportunity to cure, then no additional notice is required and the Agreement may be terminated immediately upon the Company's election and written notice to Employee);

 

(ii) the entry of a plea of guilty or judgment entered after trial finding Employee guilty of a crime punishable by imprisonment in excess of one year involving moral turpitude (meaning a crime that includes the commission of an act of
gross dishonesty or bad morals);

 

(iii) willfully engaging by Employee in conduct that the Employee knows or reasonably should know is detrimental to the reputation, character or standing or otherwise injurious to the Company or any of its shareholders, direct or indirect
subsidiaries and Affiliates, monetarily or otherwise;

 

(iv) without limiting the generality of Section 6(d)(i), the breach or threatened breach of any of the provisions of Sections 8, 9 or 10; or

 

(v) a ruling in any state or federal court or by an arbitration panel that the Employee has breached the provisions of a non-compete or non-disclosure agreement, or any similar agreement or understanding which would in any way limit, as determined by the Board of Directors of the Company, the Employee's ability to perform under the Agreement
now or in the future.

 

(e) Termination By Company Without Cause. The Company may terminate the Agreement at any time, and for any reason, by providing at least thirty (30) days written notice to Employee.

 

(f) Termination By Employee With Good Reason. Employee may terminate his employment with good reason anytime after Employee has actual knowledge of the occurrence, without the written consent of Employee, of one of the following events (each event
being referred to herein as "Good Reason"):

 

(i) Any change in the duties or responsibilities (including reporting responsibilities) of Employee that is inconsistent in any adverse respect with Employee's position(s), duties, responsibilities or status with the Company immediately
prior to such change (including any diminution of such duties or responsibilities) or (B) an adverse change in Employee's titles or offices (including, membership on the Board of Directors) with the Company;

 

(ii) a reduction in Employee's Base Salary or Bonus opportunity;

 

(iii) the relocation of the Company's principal executive offices out of Central Florida;

 

(iv) the failure of the Company to continue in effect any material employee benefit plan, compensation plan, welfare benefit plan or fringe benefit plan in which
Employee is participating immediately prior to the date of the Agreement or the taking of any action by the Company which would adversely affect Employee's participation in or reduce Employee's benefits under any such plan, unless Employee is permitted to participate in other plans providing Employee with substantially equivalent benefits;

 

 

Page 3 of 10

 

 

 

(v) any refusal by the Company to continue to permit Employee to engage in activities not directly related to the business of the Company which Employee was permitted to engage in prior to the date of the Agreement;

 

(vi) the Company's failure to provide in all material respects the indemnification set forth in the Company's Articles of Incorporation, By-Laws, or any other written agreement between Employee and Company;

 

(vii) the failure of the Company to obtain the assumption agreement

 

from any successor giving rise to a Change of Control as contemplated in Section 10;

 

(viii) any other breach of a material provision of the Agreement by the Company.

 

For purposes of clauses (iii) through (vi) and (ix) above, an isolated, insubstantial and inadvertent action taken in good faith and which is remedied by the Company within ten (10) days after receipt of notice thereof given by Employee shall not constitute Good Reason. Employee's right to terminate employment with Good Reason shall not
be affected by Employee's incapacity due to mental or physical illness and Employee's continued employment shall not constitute consent to, or a waiver of rights with respect to, any event or condition constituting cause.

 

	
7.
	
Effect of Termination. Upon the termination of the Agreement, no rights of Employee which shall have accrued prior to the date of such termination, including the right to receive any bonus Fully-Earned through the date of such termination, shall be affected in any way.

 

(a) Upon Death of Employee. During the Term, if Employee's employment is terminated due to his death, Employee's estate shall be entitled to receive the Base Salary set forth in Section 3 accrued through the date of death and any bonus
Fully-Earned (as herein defined) through the date of such termination; provided, however, Employee's estate shall not be entitled to any other benefits (except as provided by law or separate agreement). "Fully-Earned" shall mean that for purposes of determining whether the Employee shall be entitled to a bonus, that such Employee shall be treated as if he had been employed through the last date of the regular period for determining whether or not a bonus is payable in the standard manner that all such employees
are evaluated even though Employee is no longer employed by the Company, and him eligibility for an incentive bonus, if any, shall be determined accordingly. Further, a surviving spouse of Employee shall be eligible for continuation of family benefits pursuant to Section 3(c) subject to compliance with Plan provisions at the full premium rate (Company plus employee portion) for a one year period after the date of termination.

 

(b) For Disability; By Company Without Cause; By Employee with Good Reason.

 

Page 4 of 10

 

 

If the Agreement is terminated under Section 6 (b), (e) or (f):

 

(i) Employee shall be entitled to receive his Base Salary set forth in Section 3 accrued through the date of such termination and any bonus Fully-Earned through the date of such termination, and shall receive a severance equal to 3 months
salary, paid out in 3 equal monthly installments; and

 

(ii) Except as provided for in the Section 7(b), Employee shall not have any rights which have not previously accrued upon termination of the Agreement.

 

(c) By Company With Cause. In the event of termination of Employee's employment Section 6(c) Employee shall be entitled to receive the Base Salary and benefits set forth in Section 3 accrued through the date of termination, and he shall not be entitled to any other benefits (except as required by law).

 

	
8.
	
Confidential Information.

 

(a) The Company shall disclose to Employee, or place Employee in a position to have access to or develop, trade secrets or confidential information of Company or its Affiliates; and/or shall entrust Employee with business opportunities
of Company or its Subsidiaries; and/or shall place Employee in a position to develop business good will on behalf of Company or its Subsidiaries.

 

(b) The Employee acknowledges that in his employment hereunder he occupies a position of trust and confidence and agrees that he will treat as confidential and will not, without prior written authorization from the Company, directly or
indirectly, disclose or make known to any person or use for her own benefit or gain, the methods, process or manner of accomplishing the business undertaken by the Company or its Subsidiaries, or any non-public information, plans, formulas, products, trade secrets, marketing or merchandising strategies, or confidential material or information and instructions, technical or otherwise, issued or published for the sole use of the company, or information which is disclosed to the Employee or in any way acquired by
him during the term of the Agreement, or any information concerning the present or future business, processes, or methods of operation of the Company or its Subsidiaries, or concerning improvement, inventions or know how relating to the same or any part thereof, it being the intent of the Company, with which intent the Employee hereby agrees, to restrict him from disseminating or using for his own benefit any information belonging directly or indirectly to the Company which is unpublished and not readily available
to the general public.

 

(c) The confidentiality obligations set forth in (a) and (b) of Section 8 shall apply during Employee's employment and for a period of one year after termination of employment.

 

(d) All information, ideas, concepts, improvements, discoveries, and inventions, whether patentable or not, that are conceived, made, developed or acquired by Employee, individually or in conjunction with others, during Employee's employment
with Company (whether during business hours or otherwise and whether on the premises of the Company or one of its Subsidiaries or otherwise) that relate to the business, products or services of the Company or any of its Subsidiariess shall be disclosed to the Board of Directors and are and shall be the sole and exclusive property of the Company or such Subsidiaries. Moreover, all documents, drawings, memoranda, notes, records, files,
correspondence, manuals, models, specifications, computer programs, e-mail, voice mail, electronic data bases, maps and all other writings and materials of any type embodying any such information, ideas, concepts, improvements, discoveries and inventions are and shall be the sole and exclusive property of the Company. Upon termination of Employee's employment by the Company, for any reason, Employee promptly shall deliver the same, and all copies thereof, to the Company.

 

Page 5 of 10

 

 

(e) If, during Employee's employment by the Company, Employee creates any work of authorship fixed in any tangible medium of expression that is the subject matter of copyright (such as video tapes, written presentations, or acquisitions, computer programs, e-mail, voice mail, electronic data bases, drawings, maps, architectural renditions,
models, manuals, brochures or the like) relating to the Company's business, products or services, whether such work is created solely by Employee or jointly with others (whether during business hours or otherwise and whether on the Company's premises or otherwise), the Company shall be deemed the author of such work if the work is prepared by Employee in the scope of Employee's employment.

 

	
9. 
	
Restrictive Covenants

 

	
9.1
	
For the purposes of the Section, the following words have the following meanings:

 

9.1.1 "Company Services" means any services (including but not limited to technical and product support, technical advice, underwriting and customer services) supplied by the Company or its Subsidiaries in the Media business;

 

9.1.2"Confidential Information" has the meaning ascribed thereto in Section 8;

 

9.1.3 "Customer" means any person or firm or company or other organization whatsoever to whom or which the Company supplied Company Services during the Restricted Period and with whom or which, during the Restricted Period:

 

(a) The Employee had material personal dealings pursuant to his employment; or

 

(b) Any employee who was under the direct or indirect supervision of the Employee had material personal dealings pursuant to their employment.

 

9.1.4 "Prospective Customer" means any person or firm or company or other organization whatsoever with whom or which the Company or its Subsidiaries shall have had negotiations or material discussions regarding the possible distribution, sale or supply
of Company Services during the Restricted Period and with whom or which during such period:

 

(a) the Employee shall have had material personal dealings pursuant to his employment; or

 

(b) any employee who was under the direct or indirect supervision of the Employee shall have had material personal dealings pursuant to their employment; or

 

 

Page 6 of 10

 

 

 

(c) the Employee was directly responsible in a client management capacity on behalf of the Company.

 

9.1.5"Restricted Area" means:

 

(a) any geographic area in which the Company or Subsidiaries provided Restricted Services and for which the Employee was responsible in the 24 months preceding the date of Employee's termination of employment by the Company.

 

9.1.6 "Restricted Employee" means any person who on the date of Employee's termination of employment by the Company was at the level of director, manager, underwriter or salesperson with whom the Employee had material contact or dealings in the course of his Employment during the Restricted Period;

 

9.1.7 "Restricted Period" means the period of 24 months ending on the last day of the Employee's employment with the Company or, in the event that no duties were assigned to the Employee or the Employee was terminated, the 12 months immediately preceding the last day on which the Employee carried out any duties for the Company;

 

9.1.8            "Restricted Services" means Company Services or any services of the

 

same or of a similar kind.

 

	
 9.2
	
The Employee recognizes that, whilst performing his duties for the Company, he will have access to and come into contact with trade secrets and confidential information belonging to the Company and its Subsidiaries and will obtain personal knowledge of and influence over its or their customers and/or employees. The Employee therefore agrees
that the restrictions set out in Section 9 are reasonable and necessary to protect the legitimate business interests of the Company and its Subsidiaries both during and after the termination of his employment.

 

	
 9.3
	
The Employee hereby undertakes with the Company that he will not during his employment with the Company and for the period of twelve months after he ceases to be employed by the Company whether by himself through his employees or agents or otherwise howsoever and whether on his own behalf or on behalf of any other person, firm, company
or other organization, directly or indirectly:

 

9.3.1 in direct competition with the Company or its Subsidiaries within the Restricted Area, be employed or engaged or otherwise interested in the business of researching into, developing, underwriting, distributing, selling, supplying or otherwise dealing with Restricted Services; or

 

9.3.2 in competition with the Company or its Subsidiaries, accept orders or facilitate the acceptance of any orders or have any business dealings for Restricted Services from any Customer or Prospective Customer; or

 

9.3.3 employ or otherwise engage in the business of or be personally involved to a material extent in employing or otherwise engaging in the business of researching into, developing, distributing, selling, supplying or otherwise dealing with Restricted Services, any person who was during the Restricted Period employed or otherwise engaged
by the Company and who by reason of such employment or engagement is

reasonably likely to be in possession of any trade secrets or Confidential Information relating to the business of the Company.

 

 

Page 7 of 10

 

 

 

	
 9.4
	
The Employee hereby undertakes with the Company that he shall not during his employment with the Company and for the period of 24 months after Employee ceases to be employed by the Company without the prior written consent of the Company whether by himself through his employees or agents or otherwise howsoever and whether on his own behalf
or on behalf of any other person, firm, company or other organization directly or indirectly:

 

9.4.1 in competition with the Company, solicit business from or endeavor to entice away or canvass any Customer or Prospective Customer if such solicitation or canvassing is in respect of Restricted Services;

 

9.4.2 solicit or induce or endeavor to solicit or induce any Restricted Employee to cease working for or providing services to the Company, whether or not any such person would thereby commit a breach of contract.

 

	
 9.5
	
The benefit of Sections 9.3 and 9.4 shall be held in trust by the Company for each of its Subsidiaries and the Company reserves the right to assign the benefit of such provisions to any of its Subsidiaries. In addition, such provisions also apply as though there
were substituted for references to "the Company" references to each ofits Subsidiaries in relation to which the Employee has in the course of his duties for the Company or by reason of rendering services to or holding office in such Subsidiaries:

 

9.5.1 acquired knowledge of its trade secrets or Confidential Information; or

 

9.5.2 had material personal dealings with its Customers or Prospective Customers; or

 

9.5.3 supervised directly or indirectly employees having material personal dealings with its Customers or Prospective Customers so that references in Section 9 to the Company" shall for the purpose be deemed to be replaced by references to the relevant Subsidiaries. The obligations undertaken by the Employee pursuant to the Section 9.5
shall, with respect to each Subsidiaries of the Company, constitute a separate and distinct covenant and the invalidity or unenforceability of any such covenant shall not affect the validity or enforceability of the covenants in favor of any other Subsidiaries or the Company.

 

	
 9.6
	
The parties agree that the periods referred to in Sections 9.3 and 9.4 above will be reduced by one day for every day, during which, at the Company's direction the Employee has been excluded from the Company's premises and has not carried out any duties,

 

	
 9.7
	
While the restrictions in the Section 9 (on which the Employee has had the opportunity to take independent advice, as the Employee hereby acknowledges) are considered by the parties to be reasonable in all the circumstances, it is agreed that if any such restrictions,
by themselves, or taken together, shall be adjudged to go beyond what is reasonable in all the circumstances for the protection of the legitimate interests of the Company or its Subsidiaries but would be adjudged reasonable if part or parts ofthe wording thereof
were deleted, the relevant restriction or restrictions shall apply with such deletion(s) as may be necessary to make it or them valid and effective. The restrictions set forth in this Section 9 are not intended to create a Non-Compete provision whereby Employee
cannot engage in the broadcasting or production industry generally, however, Employee may not engage in the business of digital video technology or delivery in competition with the Company or provide such service to, or consult with or advise a competitor of the Company during that time period, ie another digital video technology company, and in no event shall Employee use or disclose any customer information or business or financial information regarding the Company for any reason, at any time, for all time,
regardless of his subsequent employment.

 

 

Page 8 of 10

 

 

 

	
9.8
	
The provisions of this Section 9 notwithstanding, the parties recognize and agree the Employee is an owner and director of a company named Stand Vertical, Inc., which is a provider of both service and product in SaaS "Software-as-a-Service", ecommerce, interactive, software development and web based solutions that is non-competitive to
the Company. Nothing herein shall prevent Employee from said ownership, provided however that Employee shall not compete with the Company in the area of digital video through said Company.

 

	
10.
	
Successors and Assigns. The Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer the Agreement or any rights or obligations hereunder, provided, however, that the provisions hereof shall inure to the benefit of, and be binding upon, each successor
of the Company, whether by merger, consolidation, acquisition or otherwise, unless otherwise agreed to by the Employee and the Company.

 

	
11.
	
Notices. Any notice required or permitted to be given to the Employee pursuant to the Agreement shall be sufficiently given if sent to the Employee by registered or certified mail addressed to the Employee at 5132 Fairway Oaks Dr., Windermere, Fl. 34786, or at such other address as he shall designate by notice to the Company,
and any notice required or permitted to be given to the Company pursuant to the Agreement shall be sufficiently given if sent to the Company by registered or certified mail addressed to it at 7658 Municipal Dr., Orlando, Fl. 32819, or at such other address as it shall designate by notice to the Employee.

 

	
12.
	
Invalid Provisions. The invalidity or unenforceability of a particular provision of the Agreement shall not affect the enforceability of any other provisions hereof and the Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted.

 

	
13.
	
Amendments To The Agreement. The Agreement may only be amended in writing by an agreement executed by both parties hereto.

 

	
14.
	
Entire Agreement. The Agreement contains the entire agreement of the parties hereto and supersedes any and all prior agreements, oral or written, and negotiations between said parties regarding the subject matter contained herein.

 

	
15.
	
Applicable Law and Venue. The Agreement is entered into under, and shall be governed for all purposes, by the laws of the State of Florida, with venue of any lawsuit between the parties being in Orange County, Florida.

 

	
16. 
	
No Waiver. No failure by either party hereto at any time to give notice of any breach by the other party of, or to require compliance with, any condition or provision of the Agreement
shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

 

 

 

Page 9 of 10

 

 

 

	
17.
	
Severability. If a Court of competent jurisdiction determines that any provision of the Agreement is invalid or unenforceable, then the invalidity or unenforceability of that provision shall not affect the validity or unenforceability of any other provision of the Agreement,
and all other provisions shall remain in full force and effect.

 

	
18.
	
Counterparts. The Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together will constitute one in the same agreement.

 

	
19.
	
Withholding of Taxes and Other Employee Deductions. The Company may withhold from any benefits and payments made pursuant to the Agreement all federal, state, city and other taxes as may be required pursuant to any law or governmental regulation or ruling.

 

	
20.
	
Indemnification. The Company shall indemnify Employee from any claims, demands or liabilities of any kind or nature arising out of his employment with the Company, that are not the result of his own actions, or actions within his control.

 

	
21.
	
Gender Correction and Neutrality. This Agreement may contain one or more references to he or she, or his or her.It is stipulated and agreed that Employee is a male, and all
such references, to the extent they are inconsistent with this, shall be deemed to be corrected

 

 

In witness whereof, the parties hereto have executed the Agreement as of the day and year above written.

 

	
Gen2Media Corp        

 

 
	 	 	Employee: 	 
	
/s/ Mark Argenti
	 	 	
/s/ Micheal Morgan 
	 
	
Mark Argenti, CEO
	 	 	
Micheal Morgan
	 
	
 
	 	 	
 
	 

 

 

	
Witness:

 

 
	 	 	 	 
	
/s/ Charlotte Sarah Robair
	 	 	
 
	 
	
Charlotte Sarah Robair
	 	 	 	 
	
8/6/09
	 	 	 	 

 

 

 

 

                           

Page 10 of 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00162-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00162-of-00352.parquet"}]]