Document:

Exhibit 10.7

 

 

License Agreement - Umajin
Hong Kong Limited Corp Mr. Hideaki Takahashi The License Fee Hong Kong Dollars $6200 the Deposit Two month’s license fee
(HK $ 17000 3 access card(s) (HK$100/A) Total Hong Kong Dollars $17375.00 Apex Business Centre Limited Mr. Alfred Weng, 25 June
2014, Unajin Hong Kong Limited 25 June 2014Exhibit 10.8

 

 

 

 

May 08, 2014

 

Mr. Enrique Marchese

emarchese@gmail.com

 

Re: Board of Directors - Offer
Letter

 

Dear Rick:

 

We are very pleased to offer you a position as a member of the
Board of Directors (the "Board") of Grand Perfecta, Inc. (the "Company"). This offer, which is subject to the
approval of each of the current members of our Board, is based on the following terms and conditions:

 

	Term:	Your appointment will be effective as of May I, 2014.   Your term as a director shall
    continue until your successor is duly elected and qualified. The position shall be up for re-election each year at the annual
    shareholder's meeting and upon re-election, the terms and provisions of this letter shall remain in full force and effect
    unless otherwise revised on such terms mutually agreed upon to by you and the Company.
	 	 
	Responsibilities:	As a director of the Company, your duties and responsibilities will be those reasonably and customarily associated with such position.  Every year, the Board shall hold such number of meetings at such times and locations as determined by the Chairman of the Board. Upon the reasonable request of the Chairman, you will agree to attend one or more board meetings via teleconference, videoconference or in person.
	 	 
	Services for Others:	You will be free to represent or perform services for other persons and/or companies during the term of this agreement. However, you agree that you do not presently perform and do not intend to perform, during the term of this agreement, similar duties, consulting or other services for companies whose businesses are, in any way, competitive with the Company (except for companies previously disclosed by you to the Company in writing). Should you propose to perform similar duties, consulting or other services for any such company, you agree to notify the Company in writing in advance (specifying the name of the organization for whom you propose to perform such services) and to provide information to the Company sufficient to allow it to determine if the performance of such services would conflict with areas of interest to the Company.
	 	 

 

 

 

 

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	Compensation:	In consideration for your service as a member of the Board, the Company agrees to pay you an annual cash compensation of US$30,000 for so long as you remain a member of the Board. The annual compensation shall be paid to you in equal monthly installments of US$2,500 throughout the year, consistent with the normal payroll practices of the Company.  In addition, the annual compensation will be pro-rated daily (based on a 360-day year) for any portion of the year during which you serve as a director.
	 	 
	Expenses:	If the Chairman requests your presence at a board meeting, the Company agrees to reimburse all of your travel and other
    reasonable out-of-pocket expenses, including, without limitation, meals and lodging, related to the board meeting. In
    addition, the Company agrees to reimburse you for reasonable expenses that you incur in connection with the performance of
    your duties as a director of the Company.
	 	 
	Confidentiality:	As a condition of this offer, you will be required to preserve the Company's proprietary and confidential information and you must comply with the Company's policies and procedures.
	 	 
	Indemnification:	The Company shall indemnify, defend and hold you harmless if you are, were or become a party, or are threatened to be made a party, to any action or proceeding, whether civil, criminal, administrative or investigative, by reason of
	 	 
	 	i.     the fact that you are
    or were a director, member of any committee of the Board, officer, employee or agent of the Company,
    or any subsidiary of the Company,
	 	 
	 	ii.      your action or inaction while an officer or director, or
	 	 
	 	iii.     the fact that you are or  were serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually incurred by you in connection with such action or proceeding.
	 	 
	 	Condition to Indemnification Obligations.  As a condition precedent to the indemnification obligations of the
    Company with respect to a particular claim, you shall (i) give prompt notice to the Company of such
    claim, and (ii) take all reasonable actions requested by the Company to
    cause the insurers to pay, on your behalf, all amounts payable as a result of such claim in accordance with the terms
    of a D&O Insurance policy (or any other applicable insurance policy)
	 	 

 

 

 

 

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	Independent Contractor:	In  performing your services on the Board, you will be an independent contractor and not an employee of the Company. Except as set forth in this agreement, you will not be entitled to any additional compensation  or participate in any benefit plans of the Company in connection with your services on the Board.

 

This offer to serve as a member of the Board shall be
at the will of the Board, which means that either party can terminate this relationship at any time. Upon accepting our offer
to join the Board, you agree we will have the right to mention your name and other customary information in documents we file
with the Securities and Exchange Commission, press releases and other business documentation as appropriate, including, inclusion
of such information in our registration statement and the related prospectus naming you as a person about to become a member of
the Board and such other information regarding you as is required to be included therein under the Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder.

 

To accept this offer, please sign the acknowledgment at the
end of this letter acknowledging and agreeing to the terms and conditions of your service as a member of the Board of the Company.

 

Please contact me with any questions regarding the foregoing.

 

 

Sincerely,

 

 

By: /s/ Shuya Watanabe                       

Shuya Watanabe

Grand Perfecta, Inc. Chairman of the Board

 

 

ACKNOWLEDGED
AND AGREED TO BY:

 

/s/
signature                             

 

Date:
May 8, 2014THIS COMPENSATION AGREEMENT ("Agreement") is made and entered into as of April 15, 2015 ("Effective Date") between Indoor Harvest Corp (the "Company") and John Zimmerman (the "Director").

1. Background. The Company's Board of Directors has elected the Director to a vacancy on   such Board of Directors to perform the services of a director as set forth in applicable Company documents including but not limited to the Articles of Incorporation and Bylaws, as well as the Texas law governing Directors (the "Services"). In furtherance thereof, the Company and the Director desire to enter into this Agreement.

2. Term. This Agreement shall commence on the Effective Date and remain in effect until the termination of this Agreement in accordance with the termination provisions of this Agreement.

3. Compensation.

    A. Expenses. The Company will reimburse the Director for reasonable travel and other incidental expenses incurred by the Director in performing his services and attending meetings as approved in advance by the Company.

    B. Stock Options. The Company shall award to the Director 166,560 shares of Common Stock pursuant to the Company's 2015 Stock Incentive. The table below sets forth the award date, amount and vesting date.

	
Date of Award

	
Number of Shares

	
Date of Vesting

	
April 15, 2015

	
20,820

	
July 15, 2015

	
July 16, 2015

	
20,820

	
October 16, 2015

	
October 17, 2015

	
20,820

	
January 17, 2016

	
January 18, 2016

	
20,820

	
April 18, 2016

	
April 19, 2016

	
20,820

	
July 19, 2016

	
July 20, 2016

	
20,820

	
October 20, 2016

	
October 21, 2016

	
20,820

	
January 21, 2017

	
January 22, 2017

	
20,820

	
April 22, 2017

	
Total

	
166,560

	 

If the Director is a Director both at the Date of Award and Date of Vesting, the shares for each award in the Table above shall be fully vested, a certificate representing the shares shall be issued and shall be non-forfeitable. If the Director is not a Director at the Date of Award, the shares for each award in the Table above shall not be awarded.  If the Director is a Director at the Date of Award and not at the Date of Vesting, the shares for each such award in the Table above shall be forfeited and a certificate representing the shares shall not be issued.

4. Company's Proprietary Rights and Non-Disclosure of Confidential Information

    A. Obligation. The Director will hold the Company's Confidential Information, as defined below, in the strictest confidence and will not disclose or use the Confidential Information except as permitted by this Agreement in connection with the Services, unless expressly authorized to act otherwise in writing by an officer of the Company or as otherwise required by law or valid and binding judicial order. The Director's obligations under this Section shall survive any termination of this Agreement. In addition, the Director recognizes that he will be exposed to, have access to and be engaged in the development of information (including tangible and intangible manifestations) regarding the patents, copyrights, trademarks, and Confidential Information of the Company. The Director acknowledges and agrees that all this information, whether presently existing or developed in the future, which is not the subject of a patent, patent application, copyright, trademark or trade secret either owned by the Director or in the public domain prior to the Effective Date, is the sole property of the Company and its assigns.

    B. Confidential Information. "Confidential Information" means trade secrets, confidential information, data or any other proprietary information of the Company. By way of illustration, but not limitation, "Confidential Information" includes (a) information relating to the Company's technology, including inventions, ideas, processes, formulas, data, know-how, experimental results and techniques; and (b) information regarding plans for research, development, new products, marketing and selling, business plans, budgets and unpublished financial statements, licenses, prices and costs, suppliers and customers and the skills and compensation of the Company's employees. However,  "Confidential Information" does not include information that is (as demonstrated by  written evidence):

            1. already known to the Director at the time of the disclosure;

            2. publicly available or becomes publicly available through no breach of the

               Director or any party under the Director's dominion and control;

            3. independently developed by the Director; or

            4. rightfully first received by the Director from a third party other than the

               Company.

    C. No Conflicting Obligations. The Director represents and warrants that the Director's performance of this Agreement and his service as a director of the Company do not and will not breach or conflict with any agreement to which the Director is or becomes a party.

    D. Third-Party Confidential Information. The Director understands that the Company has received and in the future will receive from third parties information that is confidential or proprietary ("Third-Party Information") subject to a duty on the part of the Company to maintain the confidentiality of such information and to use it only for certain limited purposes. During the term of this Agreement and thereafter, the Director will hold Third-Party Information in the strictest confidence and will not disclose or use Third-Party Information except as permitted by the agreement between the Company and such third party, unless expressly authorized to act otherwise by an officer of the Company in writing (other than an officer who is also a principal of the Director).

5. Termination. This Agreement shall terminate automatically on the date that the Director ceases to be a director of the Company.

6. No Employment Relationship. The Director is not as an employee of the Company. In addition, the Director is providing the services under this Agreement solely at his own direction and under his own supervision. Nothing herein shall be construed as creating an employer/employee relationship between the Company and the Director or placing the parties in a partnership or joint venture relationship. The Director will not be eligible for any employee benefits, cash bonuses or other commissions except for services as a Director as set forth in this Agreement. The Director will solely maintain the obligation to pay any and all taxes connected with any compensation paid hereunder. The Director agrees and understands that the Company does not currently have, or provide Directors and Officers with insurance, medical, or liability.

7. General.

    A. Notices. Any notice required or permitted to be given to one party by the other party  pursuant to this Agreement shall be in writing and shall be sent by facsimile-mail or personally delivered or sent by United States mail, certified or registered, return receipt requested, first class postage and charges prepaid, addressed to the parties as set forth below, or at such other address as shall be designated in writing as specified above by either party. Notices sent by facsimile or delivered in person shall be effective on the date of delivery. Notices sent by United States mail shall be effective on the third business day following its posting.

              The Director: John Zimmerman

                                     10258 Timber Trail Drive

                                     Dallas, TX 75229

              The Company: Chad Sykes, CEO

                                       Indoor Harvest Corp

                                       5300 East Freeway Suite A

                                       Houston, TX 77020

    B. Assignment of Rights and Delegation of Duties. All rights and duties of the Company under this Agreement shall extend to its successors and assigns.

    C. Severable Provisions. The provisions of this Agreement are severable and if anyone or more provisions may be determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions, and any partially enforceable provision to the extent enforceable, shall nevertheless be binding and enforceable.

    D. Waiver. The waiver by one party of a breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of any previous or subsequent breach of the same or any other provision by the other party.

    E. Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to its subject matter, and may not be changed orally, but only by an agreement in writing signed by the party against whom the enforcement of any waiver, change, modification, extension or discharge is sought.

    F. Governing Law. This Agreement is governed in accordance with the laws (other than choice-of-laws principles) of the State of Texas.

    G. Miscellaneous. The terms of this Agreement are confidential and no press release or other written or oral disclosure of any nature regarding the terms of this Agreement shall be made by either party without the other party's prior written approval; however, approval for such disclosure shall be deemed given to the extent such disclosure is required to comply with governmental rules or a valid court order.

    H. Counterparts. This Agreement or any subsequent amendment or modification hereto may be executed by facsimile and/or in one or more counterparts, each of which when so executed and delivered shall be deemed an original, but all of which taken together shall constitute but one and the same original. Each party shall accept any such signed faxed counterpart as full execution of this Agreement or any subsequent amendment or modification thereto.

    I. Pronouns. The pronouns used herein shall include, where appropriate, either gender or both, singular and plural.

    J. Authority. The person(s) executing this Agreement hereby represent and warrant that each respectively has the authority to execute this Agreement on behalf of the party for which he is executing.

    K. Descriptive Headings. The descriptive headings used herein are for convenience of  reference only and they are not intended to have any effect whatsoever in determining the rights or obligations of the parties hereto.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by

their duly authorized representatives as of the Effective Date.

/s/ John Zimmerman_____________________                       /s/ Chad Sykes____________________

Director's Signature Block                                                              Company Signature Block

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