Document:

subscriptagreementex10.3

SUBSCRIPTION AGREEMENT 

CALIFORNIA NEWS TECH 

California News Tech., a Nevada corporation with its principal offices at 529 Buchanan St., San Francisco, California 94102 (hereinafter the "Company") and the undersigned (hereinafter the "Subscriber") agree as follows: 

WHEREAS: 

 

          A.   The Company desires to issue a maximum of 1,000 units representing 1,000 shares of common stock of the Company, plus 1 warrant to      

                 purchase 1,000 shares of common stock for $2 per share, exercisable for 12 months, at a price of $1,000.00 per unit (hereinafter the "Shares"); 

                 and 

  

          B.   Subscriber desires to acquire the number of Shares set forth on the signature page hereof. 

NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set-forth, the parties hereto do hereby agree as follows: 

SUBSCRIPTION FOR SHARES 

 

         1.1   Subject to the terms and conditions hereinafter set-forth, the Subscriber hereby subscribes for and agrees to purchase from the Company such   

                 number of units as is set-forth upon the signature page hereof at a price equal to $1,000.00 per unit, and the Company agrees to sell such Shares 

                 to Subscriber for said purchase price subject to the Company’s right to sell to Subscriber such lesser numbers of Shares as it may, in its sole 

                discretion, deem  necessary or desirable. Upon execution, this subscription shall be irrevocable by Subscriber. 

 

        1.2   The purchase price of the Shares subscribed to hereunder is payable by the Subscriber contemporaneously with the execution and delivery of this 

                Subscription Agreement. 

REPRESENTATIONS AND WARRANTIES OF SUBSCRIBER 

 

        2.1   Subscriber hereby severally represents and warrants to the Company the following: 

 

               A.   Subscriber recognizes that the purchase of Shares subscribed to herein involves a high degree of risk in that the Company has only recently 

                      commenced its proposed business and may require substantial funds in addition to the proceeds of this private placement; 

 

               B.   An investment in the Company is highly speculative and only investors who can afford the loss of their entire investment should consider

                      investing in the 

 

 

	 
	 	 	 

 

 

Company and the Shares; 

 

             C.   Subscriber has been delivered a prospectus (The "Prospectus") furnished by the Company to Subscriber and has had full opportunity to review 

                    the Prospectus with Subscriber’s legal and financial advisers prior to execution of this Subscription Agreement; 

 

             D.   Subscriber has such knowledge and experience in finance, securities, investments, including investment in non-listed and non-registered 

                    securities, and other business matters so as to be able to protect its interests in connection with this transaction; 

 

             E.   Subscriber acknowledges that no market for the Shares presently exists and none may develop in the future and accordingly Subscriber may not 

                    be able to liquidate its investment; 

 

             F.   Subscriber is acquiring the Shares as principal for Subscriber’s own account and benefit; 

REPRESENTATIONS BY THE COMPANY 

 

3.1   The Company represents and warrants to the Subscriber that: 

 

              A.   The Company is a corporation duly organized, existing and in good standing under the laws of the State of Nevada and has the corporate 

                     power to conduct the business which it conducts and proposes to conduct; 

 

              B.    Upon issue, the Shares will be duly and validly issued, fully paid and non-assessable common shares in the capital of the Company. 

TERMS OF SUBSCRIPTION 

 

      4.1   Pending acceptance of this subscription by the Company, all funds paid hereunder shall be deposited by the Company in a separate account. Once 

              accepted, the funds will be released and immediately available to the Company for its general corporate purposes. In the Event the subscription is 

              not accepted, the subscription funds will be immediately returned to the Subscriber by the Company. 

 

     4.2   Subscriber hereby authorizes and directs the Company to deliver the securities to be issued to such Subscriber pursuant to this Subscription 

             Agreement to Subscriber’s address indicated herein. 

 

     4.3   The Shares are being offered on a "best efforts" basis as more particularly set forth in the Prospectus. 

 

	 
	 	 	 

 

MISCELLANEOUS 

      

      5.1   Any notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified mail, return receipt 

              requested, addressed to the Company, at its principal offices at 529 Buchanan St., San Francisco, California 94012, Attention: Mr. Marian Munz, 

              CEO, and to Subscriber at his or her or its address indicated on the last page of this Subscription Agreement. Notices shall be deemed to have been 

              given on the date of mailing, except notices of change of address, which shall be deemed to have been given when received. 

 

      5.2   Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the 

              terms and provisions hereof shall be construed in accordance with and governed by the laws of the State of Nevada. 

 

      5.3   The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be 

              necessary or appropriate to carry out the purposes and intent of this Subscription Agreement. 

IN WITNESS WHEREOF, this Subscription Agreement is executed as of the ________ day of __________________ , 2003. 

Number of Units Subscribed For:   ________________ 

Corresponding Number of Common Shares:          ________________ 

Dollar Amount:   _______________________________________________ 

Signature of Subscriber:   _______________________________________________ 

Name of Subscriber (please print):        ___________________________________________ 

Address of Subscriber:        _______________________________________________ 

Subscriber’s SS#:   _______________________________________________ 

 

 

	 
	 	 	 

 

 

Please register the Shares on the books and records of the Company that I (we) am (are) purchasing as follows: 

Name(s)________________________________________________________________ 

As (check one): ____Individual    ____Corporation  ____Existing Partnership 

 ____Joint Tenants WROS  _____Tenants-in-Common      ____Trust 

                         ____Minor with Adult Custodian under the Uniform Gift to Minors Act 

 ____Tenants in the Entirety (Married Couples Only) 

ACCEPTED BY: California News Tech: 

Signature of Authorized Signatory:  ____________________________________ 

Name of Authorized Signatory:       ____________________________________ 

Position of Authorized Signatory:    ____________________________________ 

Date of Acceptance:    ____________________________________indpcontrctagrmtbarrs10.4

	
Independent Contractor Agreement    10/03/03 

 

Independent Contractor Agreement 

Agreement made this 27th day of February, 2002 by and between California News Tech (hereinafter referred to as "Company") and Martin Barrs (hereinafter referred to as "Contractor") with its principal place of business at 517 Hickory Street, San Francico Ca 94102. 

WEHREAS, the Contractor provides services to the general public in an independent capacity; 

WEHREAS, the Company is in the business of Internet advertising and 

WEHREAS, the Contractor desires to utilize Contractor services at its own offices and as required, the Company's location, it is therefore 

AGREED AS FOLLOWS: 

1.   Scope of Services: 

Contractor agrees, pursuant to the terms herein, to provide specialized services as an independent contractor to the Company. The Scope of Services and the Recipient are further defined on the attached Purchase Order which is made a part hereof. 

 

2.   Termination: 

Contractor services under this Agreement will begin and terminate pursuant to the period covered by the Purchase Order and any renewals or extensions thereof. This Agreement shall be for a period of 12 months months, commencing on March 1, 2002 and terminating February 28, 2003. However, this Agreement may be terminated by either party on 10 days written notice, unless Contractor commits a breach of this Agreement, at which time this Agreement may be immediately terminated by the Company. 

 

3.   Restrictions: 

During the term of this Agreement and any renewals thereof, and for twelve (12) months after the expiration of the initial and renewal periods, Contractor agrees that neither it nor any of its personnel will provide or attempt to provide, directly or indirectly, any services to any competitor of the Company. 

 

4.   Contractor Representations: 

Contractor represents that all information provided by it including, but not limited to, the resume, interview and references are true, accurate and complete; the Contractor is not restricted by any employment or other contractor agreement; it has all the skills and training necessary to perform the services required by this Agreement; and Contractor has and maintains books and records which reflect items of income and expenses of its trade or business and offers its services to third parties. 

Contractor makes these representations with the knowledge that the Company will rely on the representations. In addition to any other remedies the Company may have, it may terminate this Agreement in the event of any misstatement or misrepresentation. 

 

5.   Payment Terms: 

Contractor services payment will be at $4,000 per month. 

In addition, upon the successful launch of the first release of the product, code-named dnaMedia, Martin Barrs will receive 50,000 stock options exercisable at $0.80. 

 

6.   Expenses: 

No travel, living, training, entertainment or other costs than Internet connection will be billed by or paid to Contractor unless otherwise agreed. Contractor shall provide its own tools, equipment or other materials to Contractor. 

	 
	 	 	 

 

7.   Confidential Information: 

All information (pertaining to any of Company's inventions, designs, tools, equipment, unpublished written materials, plans, processes, costs, methods, systems, improvements, or other private or confidential materials) which is obtained by Contractor in the performance of Contractor's work and which is not publicly disclosed by Company shall be considered as confidential and proprietary to Company. 

The terms of Contractor's assignment including the Contractor's compensation and the assignment terms of other Company's employees and the scope of Contractor's work shall be considered confidential. 

Contractor shall not at any time during or after such employment, disclose such information nor the nature of the service which Contractor renders to Company, except to authorized representative of Company. 

 

8.   Relationship of the Parties: 

The parties to this Agreement agree that the relationship created by this Agreement is that of Company-Independent Contractor and that no employer/empoyee relationship by or between the Contractor and the Company is intended by any party. 

 

9.   Contractor Employees: 

It shall be the Contractor's responsibility to provide Worker's Compensation insurance and, if applicable, pay any premium "overtime" rate, for its employees who work on the project covered by this Agreement and to make required FICA, FUTA, income tax withholding or other payments related to such employees, and to provide Company with suitable evidence of the same whenever requested. In the event of any claims brought or threatened by any party against the Company related to the status, acts or omissions of Contractor or its personnel, Contractor agrees to cooperate in all reasonable respects , including to support the assertions of Contractor status made in this Agreement. Contractor further agrees to file all necessary income tax reports and forms on a timely basis and make all payments due to the appropriate taxing authority. 

 

10.   Right to Supervise: 

Contractor shall utilize his own independent judgment and discretion in the performance of the work without supervision or right to supervise or control as to the means and manner including time, location and sequencing of performance by the Company. 

 

11.   Service to Others 

Contractor may provide services to others during the term of this Agreement provided that it does not interfere with his obligations and performance hereunder. 

 

12.   Risk of Loss: 

Contractor hereby releases Company from any liability relating to representations about the task requirements or to the conditions under which the Contractor will be working. Contractor shall be solely responsible and liable for the services it provides hereunder and will not look to Company for any indemnification or sharing of risk in the performance of its duties or the resulting work product. 

 

13.   Insurance: 

Contractor agrees to indemnify and hold Company harmless from any and all liability or expense that Company may incur by reason of bodily injury to any person, or property damage, or both, caused in whole or in part by the acts of the Contractor, its agents, servants and employees while performing work or services pursuant to this Agreement, including reasonable attorney's fees. 

 

14.   Cost of Suits: 

If Company is successful in recovering damages or obtaining injunctive relief, Contractor agrees to be responsible for paying all of Company's expenses in seeking such relief, including all costs of bringing suit and all reasonable attorneys' fees. 

 

15.   Entire Agreement: 

This Agreement and any attachments or exhibits hereto represent the entire agreement and understanding of the parties and any modification thereof shall not be effective unless contained in writing signed by both parties. Any prior agreements have been merged into this Agreement. 

 

 

	 
	 	 	 

 

16.   Severability: 

Each provision of the Agreement shall be considered severable such that if any one provision of clause conflicts with existing or future applicable law, or may not be given full effect because such law, this shall not affect any other provision of the Agreement which can be given effect without the conflicting provision of clause. 

 

17.   Right to Assign: 

Contractor is to provide services through it personnel named in the Purchase Order, for whom it is responsible, and may not assign its rights under this Agreement or any Purchase Order and may not subcontract its obligations hereunder to others. 

 

18.   Conflicts 

To the extent that there may be any conflict between the terms of this agreement and any Purchase Order which may be given hereto, this Agreement shall take precedence. 

IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the date first above written. 

Approval: 

California News Tech                Attn:  Martin Barrs

Marian Munz 

By: /s/  Marian Munz                 By: /s/  Martin Barrs

Title: President                   Title:  Contractor

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