Document:

EXHIBIT 10.8

 

2009 STOCK
OPTION PLAN

 

1.             Purpose.  The purpose of the 2009 Stock
Option Plan (the “Plan”) is to advance the development, growth and financial
condition of Riverview Financial Corporation (the “Company”), by providing
incentives through participation in the appreciation of the common stock of the
Company to secure, retain and motivate Company directors, officers and key
employees who may be responsible for the operation and for management of the
affairs of the Company and to align such person’s interests with those of the
Company’s shareholders.

 

2.             Term.  The Plan will become
effective on January 7, 2009, provided that if incentive stock options
shall be awarded, the Plan shall be subject to the approval of the Company’s
shareholders at the Company’s meeting of shareholders (“Effective Date”).  Any and
all incentive stock options and rights awarded under the Plan (the “Awards”)
before it is approved by the Company’s shareholders shall be conditioned upon,
and may not be exercised before, receipt of shareholder approval, and shall
lapse upon failure to receive such approval. 
Unless previously terminated by the Board, the Plan shall terminate on,
and no options shall be granted after, the tenth anniversary of the effective
date of the Plan.

 

3.             Stock.  Shares of the Company’s
common stock (the “Stock”) that may be issued or transferred under this Plan
shall not exceed, in the aggregate, 170,000 shares, as may be adjusted pursuant
to Section 19 hereof.  Shares may be
either authorized and unissued shares, authorized shares, issued by and
subsequently reacquired by the Company as treasury stock or shares purchased in
the open market.  Under no circumstances
shall any fractional shares be awarded under the Plan.  Except as may be otherwise provided in the
Plan, any Stock subject to an Award that, for any reason, lapses or terminates
prior to exercise, shall again become available for grant under the Plan.  While the Plan is in effect, the Company
shall reserve and keep available the number of shares of Stock needed to
satisfy the requirements of the Plan. 
The Company shall apply for any requisite governmental authority to
issue shares of stock under the Plan. 
The Company’s failure to obtain any such governmental authority, deemed
necessary by the Company’s legal counsel for the lawful issuance and sale of
Stock under the Plan, shall relieve the Company of any duty, or liability, for
the failure to issue or sell the Stock.

 

4.             Administration.  The ability to control and
manage the operation and administration of the Plan shall be vested in the
Board or in a committee of two or more members of the Board, selected by the
Board (the “Committee”).  The Committee
shall have the authority and discretion to interpret the Plan, to establish,
amend and rescind any rules and regulations relating to the Plan, to
determine the terms and provisions of any agreements made pursuant to the Plan,
and to make any and all determinations that may be necessary or advisable for
the administration of the Plan.  Any
interpretations of the Plan by the Committee and any decisions made by the
Committee under the Plan are final 

 

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and binding upon all participants and any person claiming through a
participant, unless otherwise determined by a majority of the disinterested
members of the Board.

 

The Committee shall be responsible and shall have full, absolute and
final power of authority to determine what, to whom, when and under what facts
and circumstances Awards shall be made, the form, number, terms, conditions and
duration thereof, including but not limited to when exercisable, the number of
shares of Stock subject thereto, and the stock option exercise prices.  Notwithstanding the foregoing, however, the
Committee shall not set the exercise price of any stock option at any price
below the fair market price of the Stock on the date of grant.  The date of grant shall be for all purposes
the date on which the Board or Committee makes the determination granting such
Option.  The Board, in the exercise of
its discretion under Section 12, shall have approved the methodology of
establishing the fair market value of the Stock, and the Committee or the
Board, at or prior to the time the grant is approved, shall also have approved
a written description of the rationale and methodology by which the fair market
value is being determined.  The Committee
shall make all other determinations and decisions, take all actions and do all
things necessary or appropriate in and for the administration of the Plan.  No member of the Committee or of the Board
shall be liable for any decision, determination or action made or taken in good
faith by such person under or with respect to the Plan or its administration.  The Committee may delegate ministerial duties
to any other person or persons, however it may not delegate the grant of an
Award.

 

5.             Awards.  Awards may be made under the
Plan in the form of:  (a) “Qualified
Options” to purchase Stock, which are intended to qualify for certain tax
treatment as incentive stock options under Sections 421 and 422 of the Internal
Revenue Code of 1986, as amended and the regulations and guidance promulgated
thereunder (“Code”) or (b) “Non-Qualified Options” to purchase Stock,
which are not intended to qualify under Sections 421 through 424 of the Code
(collectively “Stock Options”).  More
than one Award may be granted to an eligible person, and the grant of any Award
shall not prohibit the grant of another Award, either to the same person or
otherwise, or impose any obligation to exercise on the participant.  All Awards and the terms and conditions
thereof shall be set forth in written agreements, in such form and content as
approved by the Committee from time to time (either at a meeting or by
unanimous written consent), and shall be subject to the provisions of this Plan
whether or not contained in such agreements (“Award Agreement”).  Multiple Awards for a particular person may
be set forth in a single Award Agreement or in multiple Award Agreements, as
determined by the Committee, but in all cases each agreement for one or more
Awards shall identify each of the Awards thereby represented as a Qualified
Option or Non-Qualified Option.

 

Execution of an Award Agreement shall constitute the participant’s
irrevocable agreement to, and acceptance of, the terms and conditions of the
Award set forth in such agreement and of the terms and conditions of the Plan
applicable to such Award.  Award
Agreements may differ from time to time and from participant to participant.

 

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6.             Eligibility.  Persons eligible to receive
Awards shall be the directors, key officers and other employees of the Company,
as determined by the Committee.  An
individual who owns more than ten percent (10%) of the total combined voting
power of all classes of outstanding Stock of the Company shall not be eligible
for the grant of a Qualified Option, unless the option price is one hundred ten
percent (110%) of the fair market value of the stock subject to the option and
the option by its terms is not exercisable after the expiration of five (5) years
from the date such option is granted.  A
person’s eligibility to receive an Award shall not confer upon him or her any
right to receive an Award.  Except as
otherwise provided, a person’s eligibility to receive, or actual receipt of an
Award under the Plan shall not limit or affect his or her benefits under or
eligibility to participate in any other incentive or benefit plan or program of
the Company or any of its affiliates.

 

7.             Qualified
Options.  In addition to
other applicable provisions of the Plan, all Qualified Options and Awards
thereof shall be under and subject to the following terms and conditions:

 

(a)           No Qualified Option shall be awarded more than ten (10) years
after the date the Plan is adopted by the Board or the date the Plan is
approved by the Company’s shareholders, whichever is earlier;

 

(b)           The time period during which any Qualified Option is
exercisable, as determined by the Committee, shall not commence before the
expiration of six (6) months or continue beyond the expiration of ten (10) years
after the date the Qualified Option is awarded;

 

(c)           At the time a Qualified Option is awarded, the aggregate
fair market value of the Stock subject thereto and of any Stock or other
capital stock with respect to which incentive stock options qualifying under
Sections 421 and 422 of the Code are exercisable for the first time by the
participant during any calendar year under the Plan and any other plans of the
Company or its affiliates, shall not exceed $100,000.00;

 

(d)           No Qualified Option shall be awarded to any person if, at
the time of the Award, the person owns shares of the stock of the Company
possessing more than ten percent (10%) of the total combined voting power of
all classes of stock of the Company or its affiliates, unless, at the time the
Qualified Option is awarded, the exercise price of the Qualified Option is at
least one hundred and ten percent (110%) of the fair market value of the Stock
on the date of grant and the option, by its terms, is not exercisable after the
expiration of five (5) years from the date it is awarded;

 

(e)           If a participant, who was awarded a Qualified Option,
ceases to be employed by the Company for any reason other than his or her
death, the Committee may permit, but is not obligated to permit, the
participant thereafter to 

 

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exercise the option during its remaining term
for a period of not more than three (3) months after cessation of
employment to the extent that the Qualified Option was then and remains
exercisable, unless such employment cessation was due to the participant’s
disability, as defined in Section 409A of the Code, in which case the
three (3) month period shall be twelve (12) months; if the participant
dies while employed by the Company, the Committee may permit the participant’s
qualified personal representatives, or any persons who acquire the Qualified
Option pursuant to his or her Will or laws of descent and distribution, to
exercise the Qualified Option during its remaining term for a period of not
more than twelve (12) months after the participant’s death to the extent that
the Qualified Option was then and remains exercisable; the Committee may impose
terms and conditions upon and for the exercise of a Qualified Option after the
cessation of the participant’s employment or his or her death;

 

(f)            The purchase price of Stock subject to any Qualified
Option shall not be less than the Stock’s fair market value at the time the
Qualified Option is awarded and shall not be less than the Stock’s par value;
and

 

(g)           Qualified Options may not be sold, transferred or assigned
by the participant, except as designated by the participant by Will and the
laws of descent and distribution, and such Option shall only be exercisable
during the participant’s lifetime by him or her.

 

8.             Non-Qualified
Options.  In addition to
other applicable provisions of the Plan, all Non-Qualified Options and Awards
thereof shall be under and subject to the following terms and conditions:

 

(a)           The time period during which any Non-Qualified Option is
exercisable, as determined by the Committee shall not commence before the
expiration of six (6) months or continue beyond the expiration of ten (10) years
after the date the Non-Qualified Option is awarded;

 

(b)           If a participant, who was awarded a Non-Qualified Option,
ceases to be eligible under the Plan, before lapse or full exercise of the
option, the Committee may permit, but is not obligated to permit, the
participant to exercise the option during its remaining term, to the extent
that the option was then and remains exercisable, or for such time period and
under such terms and conditions as may be prescribed by the Committee;

 

(c)           The purchase price of a share of Stock subject to any
Non-Qualified Option shall not be less than the Stock’s fair market value at
the time the non-qualified option is awarded and shall not be less than the
Stock’s par value; and

 

(d)           Except as otherwise provided by the Committee,
Non-Qualified Stock Options granted under the Plan are not transferable, except
as determined 

 

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by the Committee or as designated by the
participant by Will and the laws of descent and distribution.

 

9.             Vesting.  Stock
Options, or portions thereof, are exercisable at such time or times as
determined by the Committee in its discretion at or after grant.  The Committee may provide that a vesting
schedule shall be specified in an Award Agreement.  If the Committee provides that any Stock
Option becomes vested over a period of time or upon performance events, in full
or in installments, the Committee may waive or accelerate such vesting
provisions at any time.  Unless otherwise
determined by the Committee in connection with the grant and set forth in the
Award Agreement, all unvested Stock Options shall immediately vest upon the
death or disability of the participant or upon a change in ownership or effective
control of the Company or in the ownership of a substantial portion of the
assets of the Company as defined in Code Section 409A.

 

10.           Exercise.  Except as otherwise provided
in the Plan, vested Awards may be exercised in whole or in part by giving
written notice thereof to the Secretary of the Company, or his or her designee,
identifying the Award to be exercised, the number of shares of Stock with
respect thereto, and other information pertinent to exercise of the Award.  The purchase price of the shares of Stock
with respect to which an Award is exercised shall be paid with the written
notice of exercise, either in cash or in securities of the Company, (including
securities issuable hereunder), at its then current fair market value, or in
any combination thereof, as the Committee shall determine or by another method
permitted by law and affirmatively approved by the Committee; further provided
however, that no such manner of exercise shall be permitted if such exercise
would violate Section 402 of the Sarbanes-Oxley Act of 2002.

 

The Committee may withhold its approval for
any method of payment for any reason, in its sole discretion, including but not
limited to concerns that the proposed method of payment will result in adverse
financial accounting treatment, adverse tax treatment for the Company or a
participant or a violation of any law applicable to the Company from time to
time, and related regulations and guidance.

 

Stock acquired pursuant to the exercise of an Qualified Option may not
be tendered as payment unless the holding period requirements of Code Section 422
have been satisfied, and Stock not acquired pursuant to the exercise of an
Qualified Option may not be tendered as payment unless it has been held,
beneficially and of record, for at least six (6) months (or such longer
time as may be required by applicable securities laws or accounting principles
to avoid adverse consequences to the Company or the participant).

 

Funds received by the Company from the exercise of any Award shall be
used for its general corporate purposes.

 

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The number of shares of Stock subject to an Award shall be reduced by
the number of shares of Stock with respect to which the participant has
exercised rights under the Award.

 

11.           Special Limitations on Stock Option Awards.  Unless an Award Agreement approved by the
Committee provides otherwise, Stock Options awarded under this Plan are
intended to meet the requirements for exclusion from coverage under Code Section 409A
and applicable Treasury regulations and all Awards shall be construed and
administered accordingly.

 

12.           Right of First
Refusal.  Each written
agreement for an Award may contain a provision that requires as a condition to
exercising a Qualified Option or a Non Qualified Option that the participant
agree prior to selling, transferring or otherwise disposing of any shares of
Stock obtained through the exercise of the Award to first offer the shares of
Stock to the Company for purchase.  The
terms and conditions of such right of first refusal shall be determined by the
Committee in its sole and absolute discretion, provided that the purchase price
shall be at least equal to the Stock’s fair market value as determined under
Paragraph 14 below, and shall be subject to all applicable federal and state
laws, rules and regulations.

 

13.           Withholding.  When a participant exercises
a stock option awarded under the Plan, the Company, in its discretion and as
required by law, may require the participant to remit to the Company an amount
sufficient to satisfy fully any federal, state and other jurisdictions’ income
and other tax withholding requirements prior to the delivery of any
certificates for shares of Stock.  At the
Committee’s discretion, remittance may be made in cash, shares already held by
the participant or by the withholding by the Company of sufficient shares
issuable pursuant to the option to satisfy the participant’s withholding
obligation.

 

14.           Fair Market Value.

 

(a)           If the Stock is listed on an established stock exchange or
exchanges, the fair market value per share of the Stock shall be the composite
closing sale price for such a share on the relevant day.  If no sale of Stock has occurred on that day,
the fair market value shall be determined by reference to such price for the
next preceding day on which a sale occurred.

 

(b)           In the event that the Stock is not traded on an
established stock exchange, then the fair market value per share of Stock will
be the price established by the Committee in good faith and in compliance with
all applicable federal regulations.

 

15.           Amendment.  To the extent permitted by
applicable law, the Board may amend, suspend, or terminate the Plan at any
time.  The amendment or termination of
this Plan shall not, without the consent of the participants, alter or impair
any rights or obligations under any Award previously granted hereunder.

 

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From time to time, the Committee may rescind, revise and add to any of
the terms, conditions and provisions of the Plan or of an Award as necessary,
or appropriate to have the Plan and any Awards thereunder be or remain
qualified and in compliance with all applicable laws, rules and
regulations, and the Committee may delete, omit or waive any of the terms
conditions or provisions that are no longer required by reason of changes of
applicable laws, rules or regulations, including but not limited to, the
provisions of Sections 421 and 422 of the Code, Section 16 of the
Securities Exchange Act of 1934, as amended, (the “1934 Act”) and the rules and
regulations promulgated by the Securities and Exchange Commission. Without
limiting the generality of the preceding sentence, each Qualified Option shall
be subject to such other and additional terms, conditions and provisions as the
Committee may deem necessary or appropriate in order to qualify as a incentive
stock option under Section 422 of the Code.

 

16.           Continued
Employment.  Nothing in
the Plan or any Award shall confer upon any participant or other persons any
right to continue in the employ of, or maintain any particular relationship
with, the Company or its affiliates, or limit or affect any rights, powers or
privileges that the Company or its affiliates may have to supervise, discipline
and terminate the participant.  However,
the Committee may require, as a condition of making and/or exercising any
Award, that a participant agree to, and in fact provide services, either as an
employee or in another capacity, to or for the Company for such time period as
the Committee may prescribe.  The
immediately preceding sentence shall not apply to any Qualified Option, to the
extent such application would result in disqualification of the option under
Sections 421 and 422 of the Code.

 

17.           General
Restrictions.  If the
Committee or Board determines that it is necessary or desirable to: (a) list,
register or qualify the Stock subject to the Award, or the Award itself, upon
any securities exchange or under any federal or state securities or other laws,
(b) obtain the approval of any governmental authority, or (c) enter
into an agreement with the participant with respect to disposition of any Stock
(including, without limitation, an agreement that, at the time of the
participant’s exercise of the Award, any Stock thereby acquired is and will be
acquired solely for investment purposes and without any intention to sell or
distribute the Stock), then such Award shall not be consummated, in whole or in
part, unless the listing, registration, qualification, approval or agreement,
as the case may be, shall have been appropriately effected or obtained to the
satisfaction of the Committee and legal counsel for the Company.

 

18.           Rights.  Except as otherwise provided
in the Plan, participants shall have no rights as a holder of the Stock unless
and until one or more certificates for the shares of Stock are issued and
delivered to the participant. To the extent the shares of Stock are
uncertificated, references in the Plan to certificates shall be deemed to
include references to any book-entry evidencing such shares.

 

19.           Adjustments.  In the event that the shares
of common stock of the Company, as presently constituted, shall be changed into
or exchanged for a different number or kind of shares of common stock or other
securities of the Company or of 

 

7

 

another Company (whether by reason of merger, consolidation,
recapitalization, reclassification, split-up, combination of shares or
otherwise) or if the number of such shares of common stock shall be increased
through the payment of a stock dividend, stock split or similar transaction,
then, there shall be substituted for or added to each share of common stock of
the Company that was theretofore appropriated, or which thereafter may become
subject to an option under the Plan, the number and kind of shares of common
stock or other securities into which each outstanding share of the common stock
of the Company shall be so changed or for which each such share shall be
exchanged or to which each such shares shall be entitled, as the case may be.
Each outstanding Award shall be appropriately amended as to price and other
terms, as may be necessary to reflect the foregoing events.

 

If there shall be any other change in the number or kind of the
outstanding shares of the common stock of the Company, or of any common stock
or other securities in which such common stock shall have been changed, or for
which it shall have been exchanged, and if a majority of the disinterested
members of the Committee shall, in its sole discretion, determine that such
change equitably requires an adjustment in any Award that was theretofore
granted or that may thereafter be granted under the Plan, then such adjustment
shall be made in accordance with such determination.

 

The grant of an Award under the Plan shall not affect in any way the
right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure, to merge, to
consolidate, to dissolve, to liquidate or to sell or transfer all or any part of
its business or assets.

 

Fractional shares resulting from any adjustment in Awards pursuant to
this Section 19 may be settled as a majority of the members of the Board
or of the Committee, as the case may be, shall determine.

 

To the extent that the foregoing adjustments relate to common stock or
securities of the Company, such adjustments shall be made by a majority of the
members of the Board or of the Committee, as the case may be, whose
determination in that respect shall be final, binding and conclusive. The
Company shall give notice of any adjustment to each holder of an Award that is
so adjusted.

 

Notwithstanding the foregoing, the foregoing adjustments shall be made
in compliance with:  (i) Sections
422 and 424 of the Code with respect to incentive stock options (ii) Treasury
Department Regulation Section 1.424-1 (and any successor) with respect to
non-statutory, non-incentive stock options applied as if the non-statutory,
non-incentive stock options were incentive stock options; and (iii) Section 409
A of the Code, to the extent necessary to avoid its application or avoid
adverse tax consequences thereunder.

 

20.           Forfeiture.  Notwithstanding anything to
the contrary in this Plan, if the Committee finds, after full consideration of
the facts presented on behalf of the Company and the involved participant, that
he or she has been engaged in fraud, embezzlement, 

 

8

 

theft, commission of a felony, or dishonesty in the course of his or
her employment by the Company and such action has damaged the Company, as the
case may be, or that the participant has disclosed trade secrets or
confidential information of the Company or its affiliates (“Cause”), the
participant shall forfeit all rights under and to all unexercised Awards, and
under and to all exercised Awards under which the Company has not yet delivered
payment or certificates for shares of Stock (as the case may be), all of which
Awards and rights shall be automatically canceled. The decision of the Committee
as to the cause of the participant’s discharge from employment with the Company
and the damage thereby suffered shall be final for purposes of the Plan, but
shall not affect the finality of the participant’s discharge by the Company for
any other purposes.  The preceding
provisions of this paragraph shall not apply to any Qualified Option to the
extent such application would result in disqualification of the option as an
incentive stock option under Sections 421 and 422 of the Code.

 

21.           Indemnification.  In and with respect to the
administration of the Plan, the Company shall indemnify each member of the
Committee and/or of the Board, each of whom shall be entitled, without further
action on his or her part, to indemnification from the Company for all damages,
losses, judgments, settlement amounts, punitive damages, excise taxes, fines,
penalties, costs and expenses (including without limitation attorneys’ fees and
disbursements) incurred by the member in connection with any threatened,
pending or completed action, suit or other proceedings of any nature, whether
civil, administrative, investigative or criminal, whether formal or informal,
and whether by or in the right or name of the Company, any class of its
security holders, or otherwise, in which the member may be or may have been
involved, as a party or otherwise, by reason of his or her being or having been
a member of the Committee and/or of the Board, whether or not he or she
continues to be a member of the Committee or of the Board. The provisions,
protection and benefits of this Section shall apply and exist to the
fullest extent permitted by applicable law to and for the benefit of all
present and future members of the Committee and/or of the Board and their
respective heirs, personal and legal representatives, successors and assigns,
in addition to all other rights that they may have as a matter of law, by
contract, or otherwise, except (a) to the extent there is entitlement to
insurance proceeds under insurance coverages provided by the Company on account
of the same matter or proceeding for which indemnification hereunder is
claimed, or (b) to the extent there is entitlement to indemnification from
the Company, other than under this Section, on account of the same matter or
proceeding for which indemnification hereunder is claimed.

 

22.           Taxes.  The issuance of shares of
common stock under the Plan shall be subject to any applicable taxes or other
laws or regulations of the United States of America and any state or local
authority having jurisdiction there over.

 

23.           Rule 16b-3 Compliance.  The Plan is intended to comply with all
applicable conditions of Rule 16b-3 of the Exchange Act, as such rule may
be amended from time to time (“Rule 16b-3”).  All transactions involving any participant
subject to Section 16(a) of the Exchange Act shall be subject to the
conditions set forth in Rule 16b-3,

 

9

 

regardless of whether such conditions are expressly set forth in this
Plan.  Any provision of this Plan that is
contrary to Rule 16b-3 does not apply to such participants.

 

24.           Successors.  All obligations of the Company with respect
to Awards granted under this Plan are binding on any successor to the Company,
whether as a result of a direct or indirect purchase, merger, consolidation or
otherwise of all or substantially all of the business and/or assets of the
Company.

 

25.           Severability.  In the event any provision of this Plan, or
the application thereof to any person or circumstances, is held illegal or
invalid for any reason, the illegality or invalidity shall not affect the
remaining parts of this Plan, or other applications, and this Plan is to be
construed and enforced as if the illegal or invalid provision had not been
included.

 

26.           Governing Law.  To the extent not preempted by Federal law,
this Plan and all Award Agreements pursuant thereto are construed in accordance
with and governed by the laws of the Commonwealth of Pennsylvania.  This Plan is not intended to be governed by
the Employee Retirement Income Security Act and shall be so construed and
administered.

 

27.           Legal Requirements.  No Awards shall be granted and the Company
shall have no obligation to make any payment under the Plan, whether in Shares,
cash, or a combination thereof, unless such payment is, without further action
by the Committee, in compliance with all applicable Federal and state laws and
regulations, including, without limitation, the Code and Federal and state
securities laws.

 

28.           Miscellaneous.

 

(a)           Any reference contained in this Plan to particular section
or provision of law, rule or regulation, including but not limited to the
Code and the 1934 Act, shall include any subsequently enacted or promulgated
section or provision of law, rule or regulation, as the case may be.  With respect to persons subject to Section 16
of the 1934 Act, transactions under this Plan are intended to comply with all
applicable conditions of Section 16 and the rules and regulations
promulgated thereunder, or any successor rules and regulations that may be
promulgated by the Securities and Exchange Commission, and to the extent any
provision of this Plan or action by the Committee fails to so comply, it shall
be deemed null and void, to the extent permitted by applicable law and deemed
advisable by the Committee.

 

(b)           Where used in this Plan, the plural shall include the
singular, and unless the context otherwise clearly requires, the singular shall
include the plural; and the term “affiliates” shall mean each and every
subsidiary and any parent of the Company.

 

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(c)           The captions of the numbered Sections contained in this
Plan are for convenience only, and shall not limit or affect the meaning,
interpretation or construction of any of the provisions of the Plan.

 

11United States Securites and Exchange Commission Edgar Filing

EXHIBIT 10.1

CONSULTING AGREEMENT

This Consulting Agreement (this “Agreement”) is made as the 1st day of March, 2009 by and between General metals Corporation, a Nevada corporation (the “Company”) and Mark J. Iacono, an individual residing at 4 Wispering Woods Dr., Smithtown, NY 11787 (“Consultant”).

WHERAS, Consultant desires to reorder consulting services to the Company and the Company desires to retain Consultant for the purpose of rendering such services, pursuant to the terms and conditions of this Agreement.

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

SECTION 1

APPOINTMENT: TERM

Section 1.1. Appointment. The Company hereby appoints Consultant, and Consultant hereby accepts such appointment, to serve as a consultant to the Company and to perform such services as may be requested from time to time by the Company and agreed to by Consultant during the Term, as hereinafter defined, pursuant to the terms and conditions of this Agreement. Consultant shall have a twelve month time commitment.

Section 1.2. Term. The term of this Agreement shall commence on the date hereof and expire on the one year anniversary date of this Agreement, or on the earliest date this Agreement, or on the earliest date this Agreement is terminated pursuant to Section 1.3 (the “Term”).

Section 1.3. Termination. This Agreement may be terminated as follows:

(a)

By the Company upon thirty (30) days written notice to Consultant, provided, that in the event the Company terminates this Agreement for any reason, the Company shall be responsible for all fees payable to Consultant pursuant to Section 3 and all other sections of this Agreement; and

SECTION 2

DUTIES AND OBLIGATIONS OF CONSULTANT

Section 2.1. General Duties. Consultant shall provide introduction to retail brokers, high net worth individuals, institutions, money managers and other financial community resources.

Section 2.2. Other Activities. Consultant may engage in any other activities related to any industry during and after the Term of this Agreement.

Section 2.3. No Disclosure of Confidential Information. As long as this Agreement in effect, Consultant agrees that it shall not divulge, communicate or use to the disadvantage of the Company, or for the benefit of any other person or entity, or misuse in any way, any Confidential Information (as defined below) related to the Company, during the Term of this Agreement. Notwithstanding anything to the contrary contained in this Section 2, Consultant shall be under no obligation to maintain the confidentiality of any information which (i) is or becomes part of the public domain through no act or omission attributable to Consultant or any other person; (ii) is required by law to be disclosed; provided, that, if required to be disclosed by law, Consultant shall provide the Comp[any with prompt notice of such requirement so that the Company may seek an appropriate protective order, or (iii) Consultant may receive from third party who is unrelated to the Company and who is not under an obligation to maintain the confidentiality of any such information. As used in this Section 2, the term “Confidential Information” shall mean information disclosed to Consultant or known by Consultant as a consequence of Consultant’s relationship with the Company with respect to: the Company’s employees, customer dealings with the Company, advertising methods, public relations methods, business plans, methods and forecasts, customer and vendor lists, finances, trade marks, trade secrets and other intellectual property which is owned by the Company.

SECTION 3

COMPENSATION OF CONSULTANT

Section 3.1. Payments. As consideration for the Services and the non-disclosure covenants of Consultant contained herein, the Company shall pay to Consultant:

(a)

Consultant shall receive 2,500,000.00 restricted shares of the Company’s stock, (“the shares”) upon signing of the contract,

and

(b)

The Company shall reimburse Consultant, or cause it to be reimbursed, for all reasonable out-of-pocket expenses incurred by him in the performance of hereunder or in furtherance of the business and/or interests of the Company; provided however that Consultant shall have previously furnished to the Company an itemized account satisfactory to the Company, in substantiation of such expenditures and such expenses will be approved by the company prior to be incurred,

and

SECTION 4

EQUITABLE REMEDIES

Section 4.1. Equitable Remedies. Consultant expressly agrees and acknowledges that (i) a remedy at law in the event of an actual or threatened breach of Section 2.3 of this Agreement by Consultant is not adequate and the Company shall be entitled in the event of such a breach to an injunction and other equitable remedies as a matter of right, and (ii) recourse to any remedy whether at law or in equity shall not constitute an exclusive election of remedies by the Company that precludes the Company from seeking other remedies or any combination of remedies as the Company may determine to be appropriate under the circumstances surrounding this actual or threatened breach.

SECTION 5

UNDEPENDENT CONTRACTOR; REPRESENTATION AND WARRANTY

Section 5.1. Status as Independent Contractor. In the performance of the Services, Consultant shall act solely as an independent contractor, and nothing herein contained or implied will at any time be construed so as to create the relationship of employer and employee, partnership, principal and agent, or joint venture as between the Company and Consultant. Consultant shall have no authority to bind the Company or to make any representations or warranties on behalf of the Company and shall not represent to any person or entity that she has any other such authority.

Section 5.2. taxes. All taxes applicable to this Agreement shall be paid by Consultant, and the Company, shall not withhold or pay any amount for federal, state or municipal income tax, social security, unemployment, or workers compensation.

SECTION 6

GENERAL

Section 6.1. General Provisions. The following provisions shall apply to this Agreement:

Section 6.2. Successors and Assigns. This Agreement shall be binding on and more to the benefit of the Company and its respective successors, assigns and legal representatives of every kind, character, or nature.

Section 6.3. Governing Law, Forum. This Agreement and the rights and obligations of the parties shall be interpreted under and governed by the laws of the Sate of New York, without regard to its conflicts of laws principles. Any and all matters of dispute of any nature whatsoever arising out of or in any way connected with this Agreement or in any way connected with the relationship of the parties to this Agreement, shall be subject to determination only by the State or Federal Courts sitting in the State of New York. The parties hereto do hereby consent and submit to the venue and jurisdiction of the State or Federal Courts sitting in New York as the sole and exclusive forum for such matters of dispute, and further agree that, in the event of any action or suit as to any matters of dispute between the parties, service of any process may be made upon the other party by mailing a copy of the summons and/or complaint to the other party at the address set forth herein and a party’s refusal to accept any such notice shall be equivalent to service. Without limiting the generality of the foregoing, Consultant hereby specifically waives any claims of inconvenient forum (howsoever denominated) in agreeing to the forum and jurisdiction herein set forth.

Section 6.4. Entire Agreement. This Agreement constitutes all of the understandings and agreements existing between the parties hereto concerning the specific subject matter hereof and the rights and obligations created hereunder.

Section 6.5. Notices. All notices and other communications hereunder shall be in writing and shall be deemed given upon the earlier to occur of delivery thereof if by hand or upon receipt if sent by mail (registered or certified mail, postage prepaid, return receipt requested) or on the next business day after deposit if sent by a recognized overnight delivery service as follows:

(a)

if to Consultant, 4 Wispering Woods Dr. Smithtown, NY 11787

(b)

if to the Company, to: 615 Sierra Rose Drive Suite 1 Reno NV 89511 provided that each of the parties hereto shall promptly notify the other parties hereto of any change of address, which address shall become such party’

Section 6.6. Number and Gender. Whenever appropriate in this Agreement, terms in the singular number shall include the plural number (and vice versa) and each gender form shall include all others.

Section 6.7. Attorneys’ Fees and Costs. In the event that any legal proceeding concerning the enforcement and interpretation of the provisions of this Agreement is instituted, the prevailing party in such proceeding shall be entitled to recover its reasonable attorneys’ fees and other expenses related to such proceeding, in addition to any other relief to which it may be entitled.

Section 6.8. Severability. If any provision or portion of this Agreement is for any reason held to be invalid, illegal, or unenforceable in any respect, the invalidity, illegality, or unenforceability shall not affect any other provision, and this Agreement shall be equitably construed as if it did not contain the invalid, illegal, or unenforeceable provisions. This Agreement shall be construed equitably in accordance with its terms, without regard to the degree to which Consultant and the Company has participated in drafting this Agreement.

Section 6.9. Survival. Any provision hereof which by its terms applies in whole or part after a termination of this Agreement shall survive such termination and continue in full force and effect.

Section 6.10. Captions. Titles and headings in this Agreement are for reference purposes only and shall in no way limit, define, or otherwise affect the construction of this Agreement.

Section 6.11. No Continuing Waiver. No waiver of any breach of this Agreement shall be effective unless in writing and no waiver shall constitute a waiver of any subsequent breach.

Section 6.12. Amendment. This Agreement may not be amended, altered, modified, or otherwise changed in any respect except by the prior written agreement of the parties.

Section 6.13. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument.

Section 6.14. Consultation with Independent Counsel. The parties to this Agreement acknowledge that they have (i) read this Agreement and consulted with legal counsel of their independent choice concerning the terms hereof, (ii) discussed and reviewed the provisions of this Agreement with their counsel, and (iii) been fully advised of the legal significance of the provisions of this Agreement

IN WITNESS WHEREOF, the undersigned have executed and

delivered this Agreement as of the date first stated above.

			
	 
	 
	/s/ MARK J. IACONO

	                                                                                                     

	 
	By: Mark J. Iacono

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	/s/ STEPHEN R. PARENT

	 
	 
	By: Stephen R. Parent CEO, President

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