Document:

exhibit10_1.htm

Exhibit 10.1

 

CONSULTING AGREEMENT

 

This Consulting Agreement (this "Agreement") is entered into as of    6-13   , 2016 ("Effective Date"), by and between ITT Educational Services, Inc. (the "Company"), and Ryan L. Roney ("Consultant") (the Company and Consultant will sometimes hereinafter be referred to collectively as the "parties" and singularly as a "party").

 

Recitals

 

A. Consultant has been employed with the Company on an at-will basis since July 7, 2014.  Consultant's employment with the Company ended as of June 6, 2016.

 

B. Consultant possesses valuable confidential information and knowledge regarding the Company's business.

 

C. The Company desires to engage Consultant and Consultant desires to be engaged by the Company to render consulting services on an independent contractor basis to assist with an orderly transition of certain business matters Consultant previously was handling as an employee of the Company and certain other consulting services upon the terms and conditions set forth in this Agreement.

 

Agreement

 

In consideration of the foregoing recitals, the covenants and promises herein provided, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Consultant agree as follows:

 

1. Consulting Services.

 

a. The Company hereby engages Consultant as an independent contractor to provide business consulting services to the Company, and Consultant hereby accepts such engagement as an independent contractor, upon the terms and conditions set forth in this Agreement.  During the Term of this Agreement, Consultant will provide consulting services regarding matters in which Consultant was involved as an employee of the Company and such other matters as requested by the Company (the "Consulting Services"). These services shall include, but not be limited to, Consultant’s cooperation and testimony in connection with any pending or future litigation, proceeding, regulatory investigations or other matter which may be filed against or by the Company with any agency or court, or other tribunal and concerning or relating to any matter falling within Consultant’s knowledge or former area of responsibility.

 

b. The Company acknowledges and agrees that Consultant will be permitted to provide the Consulting Services to the Company indirectly through a wholly-owned consulting entity; provided that the Consulting Services shall be performed by Consultant personally.  Consultant may designate that the consulting fees described in Section 5 below shall be paid to his wholly-owned consulting entity by providing the Company with prior written notice.

 

  

  

  

c. Except for participation in meetings as may be requested by the Company, Consultant will provide the Consulting Services from any location(s) he chooses.

 

d. The exact number of days Consultant performs Consulting Services in a given month will vary depending on various factors. However, Consultant will not be required to provide services under this Agreement at a level of more than 20% of the average level of services he provided to the Company during the 36-month period prior to his separation from Company.

 

e. Other than the obligations and restrictions expressly contained in this Agreement, nothing contained herein shall prohibit Consultant from performing services for other persons or entities during the term of this Agreement.

 

f. Consultant agrees to use Consultant's best efforts in providing the Consulting Services under this Agreement.

 

g. Consultant shall have sole discretion and responsibility for the selection of procedures, processes, materials, working hours, and other incidents of performance of the Consulting Services under this Agreement.  Although the Company may specify the results it desires Consultant to achieve in rendering the Consulting Services and may control Consultant in that regard, the Company shall not have the right or power to exercise the control over Consultant as would indicate or establish that a relationship of employer and employee exists between the Company and Consultant.

 

h. Consultant agrees, and will ensure, that Consultant's performance of the Consulting Services under this Agreement will comply with all legal requirements of any kind, including, but not limited to, compliance with all applicable federal, state and/or local laws and regulations.

 

i. During the Term of this Agreement, Consultant will not (i) engage in any activity, business or employment that is competitive with the business of the Company or any of its affiliates, or (ii) take any action or make any omission that is detrimental to the business of the Company or any of its affiliates.

 

j. Consultant represents and warrants to the Company that he has no existing obligation or commitment that conflicts with, or would preclude him from performing his responsibilities under, this Agreement, and he agrees not to enter into any such conflicting obligation or commitment.

 

  

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2. Additional Consideration.  As additional consideration for the payments made under this Agreement, Consultant has agreed to certain release obligations regarding his employment relationship with the Company.

 

3. Term.  The term of this Agreement shall be for a period of four (4) months commencing as of the Effective June 15, 2016, unless terminated earlier in accordance with Section 4 (the "Term").

 

4. Termination.  Notwithstanding any other provision of this Agreement, this Agreement may be terminated before the Expiration Date as follows:

 

a. This Agreement may be terminated at any time by mutual written agreement of the parties.

 

b. This Agreement shall terminate immediately on the death of Consultant.  If this Agreement is terminated pursuant to this provision, any remaining unpaid Compensation under Section 5 below, shall be paid by Company to Consultant’s estate.

 

5. Compensation.  During the Term, the Company will compensate Consultant on a monthly fee basis at the rate of $31,924.85 per month in four equal payments.  The Company shall pay such monthly consulting fee to Consultant within five days of the end of each applicable month during the Term.  The Company reserves the right to make any payment prior early.

 

6. Expenses.  All expenses and disbursements incurred by the Consultant in connection with the Consultant's rendering of services under this Agreement will be the sole responsibility of the Consultant; provided, however, the Company will reimburse Consultant, in a manner consistent with the Company's policy regarding travel and entertainment expense reimbursement, for  (a) necessary and reasonable out-of-pocket travel expenses, including without limitation airfare, ground transportation, lodging and meal expenses, incurred by Consultant in rendering services to the Company under this Agreement and (b) any other necessary and reasonable expenses which are approved in advance by the Company.  Consultant must submit an itemized written account and receipts acceptable to the Company within sixty (60) days after the expenses have been incurred with respect to any expenses for which Consultant seeks reimbursement.

 

7. Post Agreement Obligations.  After the termination of this Agreement, Consultant agrees to voluntarily cooperate with the Company in connection with any pending or future litigation, proceeding, regulatory investigations or other matter which may be filed against or by the Company with any agency, court, or other tribunal and concerning or relating to any matter falling within Consultant’s knowledge or former area of responsibility.  Consultant agrees to provide reasonable assistance and completely truthful testimony in such matters including, without limitation, facilitating and assisting in the preparation of any underlying defense, responding to discovery requests, preparing for and attending deposition(s) as well as appearing in court to provide truthful testimony.  The Company agrees to reimburse Consultant at an hourly rate based on his salary at the time of his separation for time Consultant spends testifying pursuant to a subpoena or at the request of the Company.  Any reimbursement for time Consultant spends preparing for such testimony or otherwise assisting the Company in such matters after the expiration of this Agreement shall be discussed and agreed upon by the parties.

 

  

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8. Relationship of Parties.  The parties acknowledge and agree that all of the services to be provided by Consultant under this Agreement shall be performed by Consultant as an independent contractor, and not as an employee, agent, partner, or joint venturer of Company.  Consultant does not have, nor shall Consultant hold himself out as having any right, power or authority to create any contract or obligation, expressed or implied, on behalf of, in the name of, or binding on the Company unless a duly authorized officer of the Company shall consent thereto in writing.  Consultant acknowledges and agrees that Consultant is not eligible to participate in any employee benefit plans or programs of the Company; provided, however, nothing herein is intended to affect Consultant's vested rights, if any, as a former employee of the Company in any of the Company's employee benefit plans.

 

9. Assumption of Risk.  The parties acknowledge and agree that the services to be performed by Consultant under this Agreement are to be performed by Consultant at Consultant's own risk and that Consultant assumes all responsibility for any injuries that may result from Consultant's performance of services under this Agreement.

 

10. Taxes.  The parties acknowledge and agree that Consultant will be solely and completely responsible for any and all taxes due and owing to any governmental entity or agency (federal, state and/or local) on any monies or compensation received by Consultant from the Company under this Agreement.  Consultant will pay all taxes arising from Consultant's receipt of compensation under this Agreement, including, but not limited to, any self-employment taxes, and shall hold the Company and its officers, directors and employees harmless from any liability arising from Consultant's failure to comply with the foregoing provisions of this sentence.

 

11. Company Property and Proprietary Rights.  All work performed by the Consultant under this Agreement, and all inventions, discoveries, materials, products and deliverables developed or prepared for the Company by the Consultant under this Agreement (collectively, the "Works"), are the property of the Company and all title and interest therein shall vest in the Company and shall be deemed to be a work made for hire and made in the course of the services rendered hereunder.  To the extent that title to any such Works may not, by operation of law, vest in the Company or such Works may not be considered works made for hire, all rights, title and interest therein are hereby irrevocably assigned by the Consultant to the Company.  All such Works shall belong exclusively to the Company, with the Company having the right to obtain and to hold in its own name, patents, copyrights, trademarks, registrations or such other intellectual property protections as may be appropriate to the subject matter, and any extensions and renewals thereof.  The Consultant agrees to give the Company and any person designated by the Company, reasonable assistance, at the Company's expense, required to establish or perfect any intellectual property rights relating to any Works.  Consultant acknowledges and agrees that all tangible materials, equipment, documents, copies of documents, data compilations (in whatever form), and electronically created or stored materials that Consultant receives or makes in the course of Consultant's engagement with the Company are and shall remain the property of the Company.  Upon the Company's request or upon the termination of this Agreement, Consultant shall immediately deliver to the Company all Works and other materials that Consultant created or received in rendering services under this Agreement.   Notwithstanding any other provision of this section to the contrary, this section does not apply to an invention for which no equipment, supplies, facility, or Confidential Information of the Company was used and which was developed by Consultant entirely on Consultant's own time unless:  (a) the invention relates (i) to the business of the Company, or (ii) to the Company's actual or demonstrably anticipated research or development; or (b) the invention results from any work performed by Consultant for the Company.

 

  

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12. Non-Disclosure of Confidential Information.  As used in this Agreement, the term "Confidential Information" means any and all of the Company's trade secrets, confidential and proprietary information and all other non-public information and data of or about the Company or any of its affiliates, including, without limitation, lists of customers, information pertaining to customers, marketing plans and strategies, information pertaining to suppliers, pricing information, engineering and technical information, cost information, data compilations, research and development information, business plans, financial information, personnel information, information received from third parties that the Company has agreed to keep confidential, and information about prospective customers or prospective products and services, whether or not reduced to writing or other tangible medium of expression, including, without limitation, work product created by Consultant in rendering services for the Company.  During Consultant's engagement with the Company and thereafter, Consultant will not use or disclose to others any of the Confidential Information Consultant acquires, receives or creates, except (a) in the performance of work assigned to Consultant by the Company, (b) as authorized in writing by the Company, or (c) as required by law or judicial process, provided Consultant promptly notifies the Company in writing of any subpoena or other judicial request for disclosure involving confidential information or trade secrets, and cooperates with any effort by the Company to obtain a protective order preserving the confidentiality of the confidential information or trade secrets.  With respect to any particular Confidential Information that does not constitute a trade secret, Consultant's confidentiality and non-disclosure obligations under this Agreement shall continue for a period of five (5) years after the termination of Consultant's engagement with the Company for any reason.  With respect to any particular trade secret information, Consultant's confidentiality and non-disclosure obligations shall continue as long as such information constitutes a trade secret under applicable law.  Consultant agrees that the Company owns the Confidential Information and Consultant has no rights, title or interest in any of the Confidential Information.  At the Company's request or upon termination of Consultant's engagement with the Company, Consultant will immediately deliver to the Company any and all materials (including all copies and electronically stored data) containing any Confidential Information in Consultant's possession, custody or control.  Upon termination of Consultant's engagement with the for any reason, Consultant will, if requested by the Company, provide the Company with a signed written statement disclosing whether Consultant has returned to the Company all materials (including all copies and electronically stored data) containing any Confidential Information previously in Consultant's possession, custody or control.  Notwithstanding any other provision of this Agreement, Consultant's confidentiality obligations shall not apply to information that becomes generally known to the public through no fault or action of Consultant or others who were under confidentiality obligations with respect to such information.

 

  

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13. Separation from Service under Section 409A.  It is the parties' intent that the level of services Consultant renders under this Agreement be at a sufficiently low level so as not to negate or otherwise override the "separation from service" that has occurred between Consultant and the Company as of the Employment Termination Date within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the related Treasury Regulation, 26 C.F.R. § 1.409A-1(h) (collectively "Section 409A").  Accordingly, notwithstanding any other provision or term of this Agreement, in no event will the level of services Consultant performs under this Agreement be more than twenty percent (20%) of the average level of services Consultant performed for the Company over the 36-month period immediately preceding the Employment Termination Date.

 

14. Severability.  The provisions in this Agreement are separate and divisible, and to the extent any provision or portion of this Agreement is determined to be unenforceable or invalid for any reason, such unenforceability or invalidity shall not affect the enforceability or validity of the remainder of this Agreement.  If any particular provision or portion of this Agreement is determined to be invalid or unenforceable for any reason, such covenant, provision or portion shall automatically be deemed reformed such that the contested covenant, provision or portion will have the closest effect permitted by applicable law to the original form and shall be given effect and enforced as so reformed to whatever extent would be reasonable and enforceable under applicable law.

 

15. Survival of Obligations.  Consultant acknowledges and agrees that certain of Consultant's obligations under this Agreement, including, without limitation, certain of Consultant's intellectual property and non-disclosure covenant obligations, will survive the termination of this Agreement and Consultant's engagement, regardless the reason for such termination.

 

16. Entire Agreement and Amendments.  This Agreement constitutes the entire agreement of the parties and supersedes and cancels all previous written or oral agreements, understandings or representations relating to the Company's engagement of Consultant to provide services as an independent contractor; provided, however, this Agreement does not affect or supersede the parties' respective rights and/or obligations under any agreements the parties may have entered into in connection with or in the course of Consultant's prior employment with the Company, including without limitation the  Separation Agreement and Voluntary Release of All Claims.  This Agreement may not be amended, supplemented, or modified except by mutual agreement of the parties memorialized in a written instrument signed by Consultant and a duly-authorized officer of the Company.

 

  

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17. Successors and Assigns.  The Company shall have the right to assign this Agreement to any affiliate or any person or entity that acquires all or substantially all of the business and/or assets of the Company.  This Agreement shall inure to the benefit of, and may be enforced by, the Company's successors and assigns of the Company, including without limitation by asset assignment, stock sale, merger, consolidation or other corporate reorganization.  Consultant shall not have the right to assign or delegate this Agreement nor any of his rights or duties hereunder.

 

18. Governing Law.  This Agreement shall be interpreted and enforced in accordance with the laws of the United States, if federal law is applicable, and the laws of the State of Indiana (without application of its conflict-of-law principles), if state law is applicable.  The Company and Consultant agree that any legal action relating to this Agreement shall be commenced and maintained exclusively before any appropriate state court located in Hamilton County, Indiana, or the United States District Court for the Southern District of Indiana, Indianapolis Division; further, the Company and Consultant hereby irrevocably consent and submit to the personal jurisdiction and venue of such courts located in Hamilton County, Indiana, or the United States District Court for the Southern District of Indiana, Indianapolis Division, and waive any right to challenge or otherwise object to personal jurisdiction or venue (including, without limitation, any objection based on inconvenient forum grounds) in any action commenced or maintained in such courts located in Hamilton County, Indiana, or the United States District Court for the Southern District of Indiana, Indianapolis Division; provided, however, the foregoing shall not affect any applicable right either party may have to remove a legal action to federal court.

 

19. Notices.  Any notices provided for under this Agreement shall be in writing and shall be deemed given and effective if delivered personally, sent by nationally recognized overnight courier (such as FedEx), sent by registered or certified mail, return receipt requested, with postage prepaid, at the following respective address (or to such other or further address as a party may hereafter designate by like notice):

 

  

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If to Consultant:

 

Ryan L. Roney

[Redacted]

[Redacted]

If to Company:

 

ITT Educational Services, Inc.

Attention:  General Counsel

13000 North Meridian Street

Carmel, Indiana 46032

A notice delivered personally shall be deemed delivered and effective as of the date of delivery.  A notice sent by overnight courier or overnight express mail shall be deemed delivered and effective the next business day after it is deposited with the postal authority or commercial carrier.  A notice sent by certified or registered mail shall be deemed delivered and effective three (3) days after it is deposited with the postal authority.

 

20. Non-Waiver.  The failure of any party to insist in any one or more instances upon the performance of any of the provisions of this Agreement or to pursue its rights hereunder shall not be construed as a waiver of any such provisions or the relinquishment of any such rights.

 

21. Negotiated Agreement.  This Agreement is the result of negotiations between the parties, and no party shall be deemed to be the drafter of this Agreement.  The language of all parts of this Agreement shall in all cases be construed as a whole, according to its fair meaning and not strictly for or against any party.  This Agreement shall be interpreted without any presumption or inference based upon or against the party causing this Agreement to be drafted.

 

22. Counterparts.  This Agreement may be executed in counterparts, each of which shall constitute an original, but both of which when taken together shall constitute one and the same agreement.  Signatures transmitted by facsimile or other electronic means are acceptable the same as original signatures for execution of this Agreement.

 

[Remainder of page intentionally left blank; signature page follows.]

 

  

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

 

COMPANY                                                                           CONSULTANT

ITT EDUCATIONAL SERVICES, INC.

By: /s/ Kevin M. Modany                                                  Ryan L. Roney                                                      

                        Ryan L. Roney

9EX-10.1

 

 
  

 Exhibit 10.1 

CONSULTING AGREEMENT 

THIS CONSULTING AGREEMENT (the “Agreement”) is made
and entered into as of June 15, 2016 (the “Effective Date”), by and between ZP OPCO, INC., a Delaware corporation and wholly owned subsidiary of Zosano Pharma Corporation (the
“Company”), having its principal place of business at 34790 Ardentech Court, Fremont, California 94555 and Georgia Erbez (the “Consultant”). The Company and the Consultant may be referred to
herein individually as “Party” or collectively, as “Parties.” 
 Recitals 

WHEREAS, the Company desires to engage Consultant to provide certain services on an interim basis
consistent with the services previously provided by the Company’s chief financial officer and described below, and Consultant desires to provide such services, on the terms and conditions hereinafter set forth. 

NOW THEREFORE, in consideration of the foregoing premises and the mutual covenants set
forth below, the Parties hereby agree as follows: 
 Agreement 

 

	 	1.	Consulting Services. 

 Commencing on the Effective Date, the Company hereby retains
Consultant, and Consultant hereby agrees to perform consulting services for the Company as set forth herein. As consultant, Consultant agrees to devote her best efforts to provide interim chief financial officer support upon the Company’s
request, including a reasonable amount of informal consultation over the telephone or otherwise as requested by the Company. Consultant shall provide consulting services similar to services provided by a Chief Financial Officer of a comparable
company, with principal responsibility for financial activities including but not limited to the responsibilities and activities as described in Exhibit A attached hereto (the “Services”). The specific nature and
amount of the Services to be performed shall be as determined by the Company during the term of this Agreement. Consultant shall only devote such time as is described in Exhibit A attached hereto to perform the Services and shall render the
Services at such times as may be mutually agreed upon by Consultant and the Company. Consultant shall perform the Services at any Company location or at other places, upon mutual agreement of the parties hereto. Consultant will perform the Services,
and provide the results thereof, with the highest degree of professional skill and expertise. Consultant may use the assistance of other individuals only with the prior written consent of the Company. Consultant shall report to the Company’s
President and Chief Executive Officer. 
  

	 	2.	Compensation. 

 Exhibit A attached hereto sets forth the amount and timing of
payment for the Services and reimbursable expenses. The Company will also reimburse Consultant for expenses actually incurred by Consultant in performing the Services, including but not limited to travel and accommodation expenses, so long as such
expenses are reasonable and necessary as determined by the Company and approved in advance by Company. Consultant shall maintain adequate books and records relating to any expenses to be reimbursed and shall submit requests for reimbursement in a
timely manner and form acceptable to the Company. 

  
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	 	3.	Independent Contractor. 

 The Parties understand and agree that Consultant is an
independent contractor and not an employee of the Company. Consultant will not be eligible for any employee benefits, nor will the Company make deductions from Consultant’s fees for taxes or insurance (except as otherwise required by applicable
law or regulation). Any payroll and employment taxes, insurance, and benefits imposed on Consultant due to activities performed hereunder will be the sole responsibility of Consultant. 

 

	 	4.	Recognition of Company’s Rights; Nondisclosure. 

 Consultant recognizes that the
Company is engaged in a continuous program of research and development respecting its present and future business activities. Consultant agrees as follows: 

4.1 At all times during the term of Consultant’s association with the Company and thereafter, Consultant will hold in strictest
confidence and will not disclose, use, lecture upon or publish any of the Company’s Proprietary Information (defined below), except to the extent such disclosure, use or publication may be required in direct connection with Consultant’s
performing requested Services for the Company or is expressly authorized in writing by an officer of the Company. It is understood that the Proprietary Information will remain the sole property of the Company. Consultant further agrees to take all
reasonable precautions to prevent any unauthorized disclosure of the Proprietary Information including, but not limited to, having each employee, agent or representative of Consultant, if any, with access to any Proprietary Information execute a
nondisclosure agreement containing provisions in the Company’s favor substantially similar to Sections 4 and 13 of this Agreement. 

4.2 The term “Proprietary Information” shall mean any and all trade secrets, confidential knowledge, know-how, data or
other proprietary information or materials of the Company or any of its affiliates, including without limitation Zosano Pharma Corporation, a Delaware corporation and the Company’s parent (“Parent”). By way of
illustration but not limitation, Proprietary Information includes: (i) inventions, ideas, samples, prototypes, devices, hardware, software, electronic components and materials, and procedures for producing any such items, as well as data,
know-how, improvements, inventions, discoveries, developments, designs and techniques; (ii) information regarding plans for research, development, new products, marketing and selling activities, business models, budgets and unpublished
financial statements, licenses, prices and costs, suppliers and customers; and (iii) information regarding the skills and compensation of employees or other consultants of the Company. 

4.3 In addition, Consultant understands that the Company has received and in the future will receive from third parties confidential or
proprietary information (“Third Party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such Third Party Information and to use it only for certain limited purposes. During the term
of Consultant’s association with the Company and thereafter, Consultant will hold Third Party Information in the strictest confidence and will not disclose or use Third Party Information, except in connection with Consultant’s performing
requested Services for the Company, or as expressly authorized in writing by an officer of the Company. 

  
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	 	5.	Intellectual Property Rights. 

 5.1 Consultant shall promptly and fully disclose to the
Company any and all ideas, inventions, technologies, discoveries, improvements, know-how and techniques that the Consultant conceives, reduces to practice or develops during the term of the Agreement, alone or in conjunction with others, during or
as a result of performing the Services for the Company under this Agreement (collectively, the “Inventions”). Consultant agrees to keep and maintain adequate and current records (in the form of notes, sketches, drawings or in
any other form that may be required by the Company) of all Services provided and results thereof and such records shall be available to and remain the sole property of the Company at all times. Consultant agrees that any and all Inventions,
including any related patents, copyrights, trade secrets and trademark rights, shall be the sole and exclusive property of the Company. 

5.2 Consultant hereby assigns to the Company her entire right, title and interest in and to all Inventions. Consultant hereby designates the
Company as her agent for, and grants to the Company a power of attorney, which power of attorney shall be deemed coupled with an interest, solely for the purpose of effecting the foregoing assignment from the Consultant to the Company. Consultant
will perform other activities necessary to effect the intent of this Section 5.2. 
 5.3 Consultant further agrees to cooperate and
provide reasonable assistance to the Company to obtain and from time to time enforce United States and foreign patents, copyrights, and other rights and protections claiming, covering or relating to the Inventions in any and all countries. 

5.4 Consultant agrees to submit to the Company any proposed publication that contains any discussion relating to the Company, Proprietary
Information, Inventions or work performed by Consultant for the Company hereunder. Consultant further agrees that no such publication shall be made without the prior written consent of the Company, which consent shall not be unreasonably withheld.

  

	 	6.	Noncompetition and Nonsolicitation of Employees. 

 6.1 During the term of this Agreement,
Consultant will not, without the prior consent of the Company’s Board of Directors, engage in any commercial business activity that competes in any way with any business then being conducted or planned by the Company relating to the research,
discovery, development, manufacture or commercialization of transdermal drug delivery systems or patches for administering pharmaceutical compounds to humans, except that Consultant may continue the affiliations set forth in Exhibit B. 

6.2 During the term of this Agreement and for one (1) year after its termination, Consultant will not personally or through others
recruit, solicit or induce any employee of the Company to terminate his or her employment with the Company. 

  
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 6.3 If any restriction set forth in Sections 6.1 and 6.2 is found by any court of competent
jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities
or geographic area as to which it may be enforceable. 
  

	 	7.	No Conflicting Obligation. 

 7.1 Consultant represents that Consultant’s performance
of all of the terms of this Agreement and the performing of the Services for the Company do not and will not breach or conflict with any agreement with a third party, including an agreement to keep in confidence any proprietary information of
another entity acquired by Consultant in confidence or in trust prior to the date of this Agreement. 
 7.2 Consultant hereby agrees not to
enter into any agreement that conflicts with this Agreement. 
  

	 	8.	No Improper Use of Materials. 

 Consultant agrees not to bring to the Company or to use
in the performance of Services for the Company any materials or documents of a present or former employer of Consultant, or any materials or documents obtained by Consultant from a third party under a binder of confidentiality, unless such materials
or documents are generally available to the public or Consultant has authorization from such present or former employer or third party for the possession and unrestricted use of such materials. Consultant understands that Consultant is not to breach
any obligation of confidentiality that Consultant has to present or former employers or clients, and agrees to fulfill all such obligations during the term of this Agreement. 
  

	 	9.	Term and Termination. 

 9.1 This Agreement, and Consultant’s Services hereunder,
shall commence on the Effective Date and shall continue for an initial term of one (1) year after the Effective Date, unless earlier terminated as provided below. 

9.2 Consultant or the Company may terminate the Agreement at any time and for any reason by giving no less than thirty (30) days prior
written notice to the other Party. 
 9.3 The obligations set forth in Sections 4, 5, 6 and 9 through 16 will survive any termination or
expiration of this Agreement. Upon termination of this Agreement, Consultant will cease work immediately after giving or receiving such notice of termination, unless otherwise advised by the Company, and promptly deliver to the Company all documents
and other materials of any nature pertaining to the Services, together with all documents and other items containing or pertaining to any Proprietary Information. 

  
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	 	10.	Assignment. 

 The rights and liabilities of the Parties hereto shall bind and inure to
the benefit of their respective successors, heirs, executors and administrators, as the case may be; provided that, as the Company has specifically contracted for Consultant’s Services, Consultant may not assign or delegate
Consultant’s obligations under this Agreement either in whole or in part without the prior written consent of the Company. The Company may assign its rights and obligations hereunder to any person or entity that succeeds to all or substantially
all of the Company’s business. Any assignment not in accordance with this Section 10 shall be void. 
  

	 	11.	Legal and Equitable Remedies; Indemnification. 

 Because Consultant’s Services are
personal and unique and because Consultant may have access to and become acquainted with the Proprietary Information of the Company, the Company shall have the right to enforce this Agreement and any of its provisions by injunction, prejudice to any
other rights and remedies that the Company may have for a breach of this Agreement. 
 Company represents and warrants that it presently has
in effect errors and omission insurance policies which policy shall cover Consultant during the term of this Agreement. 
  

	 	12.	Compliance with Applicable Laws and Obligations. 

 Consultant will perform the Services
in compliance with all applicable laws. 
  

	 	13.	Governing Law; Severability. 

 This Agreement shall be governed by and construed
according to the laws of the State of Delaware, without regards to conflicts of laws rules. If any provision of this Agreement is found by a court of competent jurisdiction to be unenforceable, that provision shall be severed and the remainder of
this Agreement shall continue in full force and effect. 
  

	 	14.	Complete Understanding; Modification. 

 This Agreement, and the Exhibits mentioned
herein, constitute the final, exclusive and complete understanding and agreement of the Parties hereto and supersedes all prior understandings and agreements between the Parties. Any waiver, modification or amendment of any provision of this
Agreement shall be effective only if in writing and signed by the Parties hereto. 
  

	 	15.	Notices. 

 Any notices required or permitted hereunder shall be given to the appropriate
Party at the address listed on the first page of the Agreement, or such other address as the Party shall specify in writing pursuant to this notice provision. Such notice shall be deemed given upon personal delivery to the appropriate address or
three days after the date of mailing if sent by certified or registered mail. 

  
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	 	16.	Counterparts. 

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

  
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 IN WITNESS WHEREOF, the
Parties hereto have executed this Agreement as of the Effective Date. 
  

									
	ZP OPCO, INC.	 		 	Consultant
			
	By: /s/ Konstantinos Alataris            	 		 	/s/ Georgia Erbez                            
	Name: Konstantinos Alataris             	 		 	Name: Georgia Erbez
	Title: President, Chief Executive Officer	 		 		 	

  
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 EXHIBIT A 

SERVICES AND COMPENSATION 

Services: 
 The consultant shall provide interim
chief financial officer support as requested and approved by the CEO of the Company. 
 Time to be devoted: 

Consultant shall provide services as requested and agreed to by the Company on an as needed basis. 

Consideration: 
 During the term of this Agreement,
the Company will compensate the Consultant at the hourly rate of $375 for all services requested and approved by the Company beforehand, and performed and invoiced under this Agreement. Consultant will send an invoice to the Company on
a semi-monthly basis, which lists dates and hours that Services were performed under this Agreement. The Company will pay such invoices promptly following the approval of the Chief Executive Officer of the Company. 

Expenses that will be reimbursed: 
 The Company
shall reimburse Consultant for business expenses that are reasonable and necessary for Consultant to perform, and were incurred by Consultant in the course of the performance of Consultant’s duties pursuant to this Agreement and in accordance
with the Company’s general policies. Such expenses shall be reimbursed upon Consultant’s submission of vouchers and an expense report in such form as may be required by the Company consistent with the Company’s policies in place from
time-to-time. 
 IT Hardware/Software: 
 The
consultant will have the option to use both the Company’s hardware and software to provide interim consulting services. Upon the termination or expiration of this Agreement, the Consultant agrees to immediately return all Company issued
hardware and software to the Company. 

  
 8 

 

 
  

 EXHIBIT B 

AFFILIATIONS 
  

  
 9

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