Document:

EXHIBIT 10.9
JOE & SAM OF NEW YORK, INC. CONSULTING AGREEMENT

THIS CONSULTING AGREEMENT (the “Agreement”) dated June 4, 2007 (the Effective date”) by and between the National Stem Cell Holding, Inc., a Delaware corporation, (the “Company”, and Joe and Sam of New York, Inc., a New York corporation (the “Consultant”) (collectively the "Parties").

WHEREAS, the Parties desire to enter into the Agreement to reflect the Consultant’s capacities in the Company’ business and to provide for the Company’ employment of the Consultant; and

WHEREAS, the Parties wish to set forth the terms and conditions of that employment; and

NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Parties, the Parties agree as follows:

1. 

Term

The Company hereby employs the Consultant; and the Consultant hereby accepts employment with the Company, upon the terms and conditions set forth in the Agreement. Unless terminated earlier pursuant to Section 5, the Consultant’s employment shall be for the period commencing June 4, 2007 (the “Commencement Date”) and ending March 31, 2008. The Initial Term, together with any such extension, shall be referred to herein as the “contract period.”

2. 

Title; Duties

During the contract period, the Consultant shall be employed, as a consultant, to negotiate an exit strategy for a ten year lease at 17 State Street, New York City.

The Consultant, through its officers and directors, shall report to the Chief Executive Officer, who shall have the authority to direct, control and supervise the activities of the Consultant. 

3. 

Compensation

The Company shall pay the Consultant a gross base fee for the period ending March 31, 2008 (“Base Fee”) payable in shares of common stock of the Company (“Shares”) as follows: 367,900 Shares at the commencement of the services and three million Shares upon successful conclusion of its services.

4.

Termination

Either Party may terminate employment of the Consultant under the Agreement without cause in which event, if such termination is accomplished by the Company, the Consultant will be entitled to compensation to the end of the Contract Period; and if by the Consultant, his compensation shall reduced pro rata. 

The Company may terminate the Agreement at any time for cause, which will reduce the Consultant’s compensation and benefits to the Shares provided at the commencement of the Agreement. 

The Consultant may terminate his employment under the Agreement at any time for good reason in that (i) the assignment to the Consultant of substantial duties or responsibilities inconsistent with the Consultant’s position at the Company, or any other action by the Company which results in a substantial diminution or other substantive adverse change in the Consultant’s duties or responsibilities, (ii) the Company’s failure to pay the Consultant 

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any Base Fee or other compensation to which he becomes entitled, or (iii) the Company’s breach of any of its other obligations under the Agreement. In this event, compensation shall continue to the end of the Contract Period.

5. 

Confidentiality

(a) 

Definition of Proprietary Information. The Consultant acknowledges that it (including its officers and directors) may be furnished or may otherwise receive or have access to confidential information which relates to the Company’ past, present or future business activities, strategies, services or products, research and development; financial analysis and data; improvements, inventions, processes, techniques, designs or other technical data; profit margins and other financial information; fee arrangements; terms and contents of leases, asset management agreements and other contracts; tenant and vendor lists or other compilations for marketing or development; confidential personnel and payroll information; or other information regarding administrative, management, financial, marketing, leasing or sales activities of the Company, or of a third Party which provided proprietary information to the Company on a confidential basis. All such information, including any materials or documents containing such information, shall be considered by the Company and the Consultant as proprietary and confidential (the “Proprietary Information”).

(b) 

Exclusions. Notwithstanding the foregoing, Proprietary Information shall not include information in the public domain not as a result of a breach of any duty by the Consultant or any other person.

(c) 

Obligations. Both during and after the contract period, the Consultant will preserve and protect the confidentiality of the Proprietary Information and all physical forms thereof, whether disclosed to it or its officers and directors before the Agreement is signed or afterward (except as required by applicable law or otherwise as necessary in connection with the performance of the Consultant’s duties to the Company hereunder). In addition, the Consultant shall not (i) disclose or disseminate the Proprietary Information to any third Party, including employees of the Company (or their affiliates) without a legitimate business need to know; (ii) remove the Proprietary Information from the Company’ premises without a valid business purpose; or (iii) use the Proprietary Information for his own benefit or for the benefit of any third Party.

(d) 

Return of Proprietary Information. The Consultant understands and acknowledges that all the Proprietary Information used or generated during the course of working for the Company is the property of the Company. The Consultant will deliver to the Company all documents and other tangibles (including diskettes and other storage media) containing the Proprietary Information at any time upon request by the Board of Directors during his employment and immediately upon termination of his employment.

6.

Miscellaneous

 (a)

Taxes. The Consultant will be solely responsible for all taxes, withholdings, and other statutory or contractual obligations of any sort.

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 (b)

Legal Relationship. The Parties understand that the Consultant is an independent contractor and and the Consultant’s officers and directors shall not have the authority to bind the Company or act on the Company’s behalf with third parties except as expressly permitted by the Company in writing.

(c) 

Notices. All notices required or permitted under the Agreement shall be in writing and shall be deemed effective (i) upon personal delivery, (ii) upon deposit with the United States Postal Service, by registered or certified mail, postage prepaid, or (iii) in the case of facsimile transmission or delivery by nationally recognized overnight delivery service, when received, addressed as follows:

(i)

If to the Company, to:

Michael Cohen, CEO

Proteonomix, Inc..

187 Mill Lane

Mountainside, New Jersey 07052

 (ii) 

If to the Consultant, to:

Arnold Lederman

Joe and Sam of New York, Inc.

155 East 77th Street

Suite 1A

New York New York 10028

or to such other address or addresses as either Party shall designate to the other in writing from time to time by like notice.

(d) 

Entire Agreement. The Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of the Agreement.

(e) 

Amendment. The Agreement may be amended or modified only by a written instrument executed by both the Company and the Consultant.

(f) 

Governing Law. The Agreement shall be construed, interpreted and enforced in accordance with the laws of the State of New York, without regard to its conflicts of laws principles.

(g) 

Successors and Assigns. The Agreement shall be binding upon and inure to the benefit of both Parties and their respective successors and assigns, including any entity with which or into which the Company may be merged or which may succeed to its assets or business or any entity to which the Company may assign its rights and obligations under the Agreement; provided, however, that the obligations of the Consultant are personal and shall not be assigned or delegated by him.

(h) 

Waiver. No delays or omission by the Company or the Consultant in exercising any right under the Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company or the Consultant on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion.

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(i) 

Captions. The captions appearing in the Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of the Agreement.

(j) 

Severability. In case any provision of the Agreement shall be held by a court or arbitrator with jurisdiction over the Parties to the Agreement to be invalid, illegal or otherwise unenforceable, such provision shall be restated to reflect as nearly as possible the original intentions of the Parties in accordance with applicable law, and the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby.

(k) 

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

IN WITNESS WHEREOF, the Parties have executed the Agreement as of the day and year first above written.

NATIONAL STEM CELL HOLDING, INC.

By: /s/ Michael Cohen

Name: Michael Cohen

Title: President

The Consultant 

Joe and Sam of New York, Inc.

By:  Arnold Lederman

Name: Arnold Lederman

Title: President

4Exhibit 10.10

ASSIGNMENT OF TECHNOLOGIES AND PATENT APPLICATIONS

FROM MICHAEL COHEN AND JACOB COHEN TO PROTEONOMIX, INC. 

This Assignment Agreement (the “Agreement”) is made this 1st day of July, 2009, by and among Michael Cohen, residing at 7 Stanford Court, West Orange, New Jersey 07052 (“MC”); Jacob Cohen, residing at 25 Brook Place West Orange, New Jersey 07052 (“JC”)(herein individually an “Assignor” and collectively the “Assignors”); Proteonomix, Inc., a Delaware corporation (“Proteonomix”) and its subsidiary, Proteoderm, Inc. a New York corporation (the “Subsidiary”), both with offices at 187 Mill Lane, Mountainside, New Jersey 07092 (together, the “Parties”), entered into this 1st day of July, 2009. 

WHEREAS, the Assignors jointly own all rights, title and interest in and to certain technologies and have filed patent applications therefor with the U.S. Patent and Trademark Office on December 19, 2006, as follows: Patent Application Serial No. 60/875,558 (Umbilical Cord Stem Cell Secreted Product Derived Topical Compositions and Methods of Use Thereof), and Patent Application Serial No. 60/875,553 (Embryonic Germ Cell Secreted Product Derived Topical Compositions and Methods of Use Thereof) (herein, the “Patent Applications”); and

WHEREAS, the Patent Applications include any amendments and all continuations, continuations in part, divisions, reissues, reexaminations or extensions thereof, any corresponding foreign patent applications, and any patents or other equivalent foreign patent rights issued, granted or registered thereon, any and all improvements developed by MC or JC or any entity or person working in concert with or on behalf of the Assignor, whether patentable or not, relating to such patent rights, which Assignor may now have or may hereafter develop, own or control, and all technology, trade secrets and know-how related to such patent rights (the “Patent Rights”).

WHEREAS, the Assignors desire to assign all their rights, title and interest in and to the Patent Applications, to Proteonomix, and Proteonomix desires to accept such assignment on the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the promises, agreements and mutual covenants set forth herein, and other good and valuable consideration as set forth herein, the Parties agree as follows:

1.  Effective Date of Assignment.  The Assignors hereby irrevocably transfer all of their rights, title and interest in and to the Patent Applications to Proteonomix, as of the date first above written.

2.  Consideration for the Assignment.  As consideration (the “Consideration”) for the assignment of the Properties to Proteonomix, Proteonomix hereby grants to the Assignors:

a)

fifty thousand (50,000) shares of Proteonomix Series C Preferred Stock; and

b) 

the right to receive twenty (20%) percent of the issued and outstanding common stock of Proteoderm, in the event Proteoderm shall become a public company such percentage calculated immediately prior to any public offering or merger consideration.

The Consideration is non-transferable except to the JSM Family Trust.

3.  Warranties of the Assignors.  The Assignors hereby represent and warrant to Proteonomix that: (a) they are the sole owners of the Patent Rights; (b) they have not granted, and will not grant, any licenses or assignments to any other person or entity; (c) each Assignor has the right and power to enter into this Agreement and to assign the Patent Applications as provided herein; and (d)neither Assignor is aware of any person or entity infringing on the Patent Rights or that the Patent Rights infringe upon any other patent.  In the event that either Assignor should learn, after execution hereof, that any person or entity may be infringing upon the Patent Applications, the Assignors and/or each of them will immediately notify Proteonomix of such possible infringement.

4.  Warranties of Proteonomix.  Proteonomix hereby acknowledges that the Assignors make no representations as to (a) the operability or fitness for any use of the products covered by the Patent Applications or the patentability, and/or the breadth of the Patent Rights; (b) the safety and/or efficacy of the technologies covered by the Patent Applications; (c) the ability to obtain regulatory approval of the 

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Patent Applications; (d) whether there are any patents now held, or which will be held, by others that infringe upon the Patent Rights; (e) whether the Patent Rights and or any products to be produced thereunder will infringe on any other patents now held or that may be held by others; and (f) that Proteonomix has adequate knowledge and expertise, or has utilized knowledgeable and expert consultants, to adequately conduct the necessary due diligence on the Patent Applications and the Patent Rights, and hereby accept all risks inherent thereto.

5.  Patent Prosecution, Maintenance and Infringement.

a)

Patent Prosecution. Proteonomix shall pay for (i) all costs associated with prosecuting the Patent Applications from and after the date of this Agreement, to the extent such costs are reasonable and necessary to obtain such Patent Rights, and the Assignors shall cooperate to the fullest extent necessary if such prosecution is undertaken; (ii) all costs and expenses incurred in maintaining the Patent rights; and (iii) the costs of filing, prosecuting and maintaining foreign counterpart applications to the pending Patent Applications.

b)

Patent Attorneys.  Preparation and maintenance of the Patent Applications and the Patent Rights shall be undertaken by Proteonomix at its costs and shall be performed by qualified and experienced patent attorneys mutually agreed upon by Proteonomix and the Assignor.   Due diligence and care shall be used in preparing, filing, prosecuting and maintaining such applications on patentable subject matter.  The Assignor and Proteonomix shall have the right to review and approve any and all patent related documents. 

c)

Improvements. Proteonomix shall pay all future costs of preparation, filing, prosecuting and maintaining the Patent Applications and Patent Rights, as well as all patentable improvements made by Proteonomix in connection with the Patent Rights, and shall own outright any such improvements.

d)

Infringement.  Proteonomix, at its expense, shall enforce the Patent Rights against infringement by third parties. Proteonomix shall retain recovery, if any, from such enforcement.  In any infringement suit or dispute, the Parties shall cooperate fully with each other.  At the request and expense of the Party bringing suit, the other Parties will permit access to all relevant personnel, records, papers, information, samples, specimens, etc.

6.  Indemnification.  

a)

Proteonomix shall indemnify, hold harmless and defend the Assignors from and against any and all allegations, claims, demands or causes of action whatsoever, including without limitation those arising on account of any injury, death or illness of persons, damage to property or improper business practices (the “Actions”) caused by, arising out of, or resulting from the exercise of the rights assigned to Proteonomix hereunder, unless and except to the extent that any Action is caused by a breach of any representation or warranty made herein by MC or JC (or by the Assignors, together).

b)

The Assignors shall indemnify, hold harmless and defend Proteonomix, its officers, directors, employees and agents from and against any and all Actions caused by, arising out of, or resulting from a breach of any representation or warranty herein made by the Assignors, or either of them. 

c)

 In no event shall any Party be liable for any indirect, special, consequential or punitive damages (including, without limitation, damages for loss of profits or other economic loss, or for injury to persons or to property) arising out of or in connection with this Agreement of the subject matter hereof.

7.  Marking of Patent Rights.  Proteonomix shall affix ‘patent pending’ and patent notices to all products produced from the technologies underlying the Patent Applications or the Patent Rights prior to any sale, in accordance with applicable patent laws. Each and every product produced pursuant to the Patent Applications or the Patent rights shall have either the words “PATENT PENDING” or “Patent Number followed by the patent application number or patent number conspicuously marked on each product offered for sale pursuant to the Patent Rights or Patent Applications.  

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8.  Rights Upon Granting of Patent(s).  The Assignors hereby acknowledge that upon the granting of either or both of the pending patent applications, all rights, title and interest to such granted patent  shall belong to Proteonomix, subject to any permissible assignment by Proteonomix. 

9.  Permissable Assignment By Proteonomix.  Proteonomix may assign this Agreement to Proteoderm, upon Proteoderm’s assumption of all of the terms hereof. 

10.  Insurance.  Beginning at the time when any Licensed Product is being produced, distributed or sold (including for the purpose of obtaining regulatory approvals) by Proteonomix, and continuing for the term of this Agreement, and for not less than two (2) years thereafter, Proteonomix shall, at its sole cost and expense, procure and maintain commercial general liability insurance in amounts not less than $2,000,000 per incident and $2,000,000 annual aggregate.  Proteonomix shall use reasonable efforts to have the Assignors, named as additional insureds. The minimum amounts of insurance coverage required shall not be construed to create a limit of Proteonomix liability with respect to its indemnification under this Agreement. Proteonomix shall provide Assignors with written evidence of such insurance upon Assignor's request, and shall provide Assignor with written notice prior to the cancellation, non-renewal or material change in such insurance.

11.

Term and Termination 

A.

Term. The term of this Agreement shall commence on the date of this Agreement and shall continue indefinitely unless if termination pursuant to “B” below

B.

Termination by the Assignors. Assignors may, at their option, terminate this agreement, upon written notice to Proteonomix if Proteonomix becomes bankrupt or insolvent, files a petition of bankruptcy, or a petition or answer seeking reorganization, readjustment, liquidation or rearrangement of its business or affairs under any law or governmental regulation relating to bankruptcy or insolvency, and/or if Proteonomix business is placed in the hands of a receiver, assignee, or trustee, whether by voluntary act of Proteonomix or otherwise; 

8. Miscellaneous 

a.

Confidential Information. Confidential information, whether in oral or written form, provided to one Party by the other (i) be received in strict confidence, (ii) be used only for the purposes of this Agreement, and (iii) not be disclosed by the recipient party, its agents or employees without the prior written consent of the other party, except to the extent that the recipient party can establish competent written proof that such information: (a) was in the public domain at the time of disclosure; (b)   later became part of the public domain through no act or omission of the recipient party, it’s employees, agents, successors or assigns; (c) was lawfully disclosed to the recipient by a third party having the right to disclose it; or (d) is required by law or regulation to be disclosed. Each Party’s obligation of confidence hereunder shall be fulfilled by using at least the same degree of care with the other Party’s confidential information as it uses to protect its own confidential information. This obligation shall exist while this Agreement is in force and for a period of 2 years thereafter.

b,

Entire Agreement/Amendment. This Agreement constitutes the complete and entire agreement of the parties with respect to the subject matter hereof and supersedes any and all prior negotiations, written or oral agreements, understandings or negotiations concerning the subject matter hereof. This Agreement, including this provision, may not be amended, altered or supplemented without a written instrument signed by duly authorized representatives of both parties.

c.

Governing law . This Agreement shall be governed in accordance with the substantive laws of the State of New York, without regard to its conflicts of laws provisions. 

d.

Compliance with Law. The Parties shall comply with all applicable federal, state and local laws and regulations in connection with its activities pursuant to this Agreement.

e.

Severability. If any part, term or provision of this Agreement shall be held to be invalid, illegal or unenforceable, such invalidity or unenforceability shall not invalidate or render unenforceable the 

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entire agreement, but rather the entire agreement shall be construed as if not containing the particular invalid or unenforceable provision or provisions, and the rights and obligations of the parties shall be construed and enforced accordingly.

f.

Waiver. Failure of any party to enforce a right under this Agreement will not act as a waiver of that right or the ability to later assert that right relative to the particular situation involved.

g.

 Notices.  Any notice given by one Party to another pursuant to this Agreement shall be deemed to be given if personally served, mailed with a return or delivery receipt by US Postal Service or by recognized overnight carrier upon delivery at the address provided in the preamble to this Agreement as such address may be changed by a Party in writing to the other Parties 

h.

Headings. Headings are included herein for convenience only and shall not be used to construe this Agreement.

i.

Multiple Counterparts. This Agreement may be executed in counterparts, all of which taken together shall constitute one single Agreement between the Parties.

j.

Corporate Authority.  Proteonomix and Proteoderm hereby acknowledge that each has the corporate authority to enter into this Agreement.

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

PROTEONOMIX, INC.

/s/Michael Cohen

MICHAEL COHEN

By: /s/ Joel Pensley

         Joel Pensley, Secretary

PROTEODERM, INC.

/s/ Jacob Cohen

JACOB COHEN

By /s/ Joel Pensley

        Joel Pensley, Secretary

  

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PROTEONOMIX, INC ASSIGNMENT TO PROTEODERM, INC.

Proteonomix hereby, as of the date first above written, irrevocably assigns all of the rights, title and interest in and to the Patent Applications and the Patent rights, including all related discoveries, inventions and intellectual property, to Proteoderm, in consideration of prosecuting the Patent Applications and producing and marketing products using ingredients derived therefrom. The Subsidiary hereby restates all of the representations and warranties herein made by Proteonomix as if more fully set forth by Proteoderm herein, and assumes all of the rights, and each and every one of the obligations, herein granted to or incurred by Proteonomix.

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the July 1, 2009.

PROTEONOMIX, INC.

By:  /s/Michael Cohen

         Michael Cohen, President

PROTEODERM, INC.

By: /s/ Joel Pensley

        Joel Pensley, Secretary

The undersigned agree to the above agreement.

/s/ Michael Cohen

Michael Cohen, Assignor

/s/ Jacob Cohen

Jacob Cohen, Assignor

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