Document:

ex_121943.htm

 

 

Exhibit 10.3

 

TRUE NATURE HOLDING, INC.

SENIOR EXECUTIVE EMPLOYMENT AGREEMENT

 

This Agreement is made as of the 28th day of June 2018, between the TRUE NATURE HOLDING, INC., its successors and assignees, a publicly traded company incorporated in the State of Delaware (“Employer”), and Aleksandr Talyanker, residing at 479 Sparrow Branch Cir, St. Johns, FL 32259 (“Employee”).

 

WHEREAS, the Employer, the authorized representative of the Employer, desires to employ employee as a Principal Engineer of the Employer; and

 

WHEREAS, the parties have reached an agreement as to the terms of said employment as more fully set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the promises and the mutual covenants, terms and conditions as hereinafter set forth, the parties hereby agree as follows:

 

1. Nature of Services and Duties.  

 

a. Effective June 28, 2018, Employee shall serve in the position of Principal Engineer.  

 

b. At all times during the term of this Agreement, Employee shall use his/her best efforts and apply his/her skill and experience to the proper performance of his/her duties hereunder and to achieve the goals set forth herein. Employee shall be directly accountable to and work under the authority and direction of the Chairman of the Board of Directors (“Chairman”), or any “Designee” the Chairman shall direct the Employee to report to, and shall report through such officers as may be directed by the Chairman, or their Designee, from time to time.  Employee shall perform such executive, managerial and administrative duties and services as are customary for a Principal Engineer and such further executive duties as may be specified from time to time by the Chairman, or their Designee, including without limitation:

 

	 	
			i.

				
			To research potential solutions for certain applications that the Company may evaluate, including basic systems tools, alternative approaches to traditional software developments, deployment and maintenance approaches and other areas typically found in the role of a Principal Engineer;

			

 

	 	
			ii.

				
			To interpret systems specifications as directed by the representatives of the Company, and as directed, from its clients and potential clients, and to apply reasonable processes in the evaluation of alternative approaches to development of solutions in those areas;

			

 

	 	
			iii.

				
			To create initial design specifications and approaches, including but not limited to cost of development, cost of system maintenance, and other performance attributes related to the potential deployment of the systems as products;

			

 

	 	
			iv.

				
			To acquire when applicable existing systems, or recommend development of new systems in achievement of the directed systems development goals of the Company;

			

 

	 	
			v.

				
			To continuously document all systems in a manner that allows full audit and assumption of the systems maintenance by qualified third parties;

			

 

	 	
			vi.

				
			To continuously learn new approaches to systems development by reading, reviewing, trying and reporting on the benefits and trends to the management and Board of the Company at least quarterly in written communications;

			

 

	 	
			vii.

				
			To protect the privacy of the systems developed by the Company at all times and insure that reasonable protections are taken including backup, archive and off-site storage of all source code, object code and documentation not less than weekly;

			

 

	 	
			viii.

				
			To acknowledge at all times that the systems, software, designs, specifications and documents are at all times the property of the Company, and not the Employee.

			

 

 

 

 

	 	
			ix.

				
			To abide by Non-Compete and Confidentiality standards set by the Company, including, but not limited to the following:

			

 

	 	
			1.

				
			While the parties agree that a part time role is acceptable for now, it is likely full-time employment will ultimately be required;

			

 

	 	
			2.

				
			The Non-Compete and Confidentiality requirements of this position with regard to the TNTY's markets, clients and the healthcare industry are very important to the position, and will be adhered to without exception;

			

 

	 	
			3.

				
			The employee agrees that no other work for clients who are, or were, clients of LocalPetRx, or related entities, shall be undertaken without the express written approval of the Board of Directors;

			

 

	 	
			4.

				
			The employee agrees that there shall be no use of software, code, designs, documents or anything anyone might consider proprietary to LocalPetRx, or its successors or assignees.

			

 

	 	
			2.

				
			Term.

			

 

This Agreement shall be effective from June 28, 2018, (“the Commencement Date”), through July 1, 2019, (“the Termination Date”), unless amended by subsequent written agreement of the parties or terminated as provided herein.  The Employee shall be considered a full-time employee as of the Commencement Date and will serve at the will of the Board of Directors (“Board”).

 

	 	
			3.

				
			Compensation.  

			

 

(a) Employee shall be paid on an hourly basis at a rate of $70.00 per hour, with weekly reporting and time card tracking to include allocation of time by project activity in accordance with the Employer’s standard payroll procedures, with a performance and salary review to be conducted annually, at which time the Employee’s hourly rate shall be adjusted in accordance with applicable compensation policies.

 

(b) In addition, Employee shall be eligible to receive a bonus target if approved by the Compensation Committee in its sole discretion.

 

(c) The Employee agrees that their Compensation will accrue from the Commencement Date of this agreement.

 

(d) The Employee may receive certain grants of Restricted Common Stock, and those grants may be subject to certain vesting, or reverse vesting, conditions, including, but not limited to the tenure of the Employee, or achievement of certain objectives, as further defined in a Restricted Stock Grant Agreement, and generally under the terms as noted below:

 

1. Grant of Restricted Stock.  True Nature Holding, Inc. (the “Company”) hereby grants to Grantee an Award of Two Hundred Fifty Thousand (250,000) shares of Restricted Common Stock of the Company (collectively, the “Restricted Stock”) pursuant to reverse vesting terms.  The Restricted Stock granted pursuant to the Award shall be immediately issued in an escrow account the name of the Grantee and released as reverse vesting expires. Any unearned Restricted Stock granted shall be cancelled in the event the Employee is terminated by the Employer.

 

2. Vesting is as follows:

 

a) 25,000 restricted shares once the Employee has been with the Employer for 90 days from the effective date of this agreement;

 

b) 50,000 restricted stock shares once the Employee completed an acceptable initial design of Simple HIPAA for Vets & Pets;

 

c) 50,000 restricted stock shares once the Employee has successfully installed the first two (2) vet versions of Simple HIPAA for Vets and Pets at client sites and they have operated for 60 continuous days;

 

b) 50,000 restricted stock shares once the Employee completed an acceptable initial design of Simple HIPAA for Humans;

 

 

 

 

c) 50,000 restricted stock shares once the Employee has successfully installed the first two (2) vet versions of Simple HIPAA for Humans at client sites and they have operated for 60 continuous days;

 

d) 25,000 restricted stock shares once the Employee completes training and certification on: a) MS .NET Core 2.0, including new API libraries, b) Python, c) Java Script, or d) three (3) other technologies as approved by the Board of Directors. Any out of pocket costs for this training shall be reimbursed by the Company;

 

f) In the event of a change in control of the Company, any remaining unvested shares will immediately vest upon change of control of the Company.

 

3. Restrictions on Transfer. The Shares of Restricted Stock issued under this Agreement may not be sold, transferred or otherwise disposed of and may not be pledged or otherwise hypothecated until all restrictions on such Restricted Stock shall have lapsed. The shares are subject to certain reverse vesting terms and can only be release with an opinion of company counsel.

 

4. Termination. Employee’s employment hereunder may be terminated by Employer under the following circumstances:

 

(a) a vote of the majority of the members of the Board of Directors;

 

(b) upon any violations of the Securities laws;

 

(c) Upon incapacity or inability to perform all the duties set forth in this Agreement due to mental or physical disability;

 

(d) any violation of the confidentiality, privacy or security terms of this Agreement.

 

Employee may terminate this agreement at will, providing two weeks’ notice.

 

If Employee’s employment is terminated by virtue of any of the events described in paragraph (a), (b), (c) or (d) Employee shall be entitled only to compensation though the date of such termination and any restricted stock grants that have not vested shall be cancelled.

 

5. Confidentiality and Proprietary Information. Employee acknowledges that he/she will be exposed to confidential information of the Employer, which includes confidential information of True Nature Holding, Inc., and other operations and activities.  Confidential information includes, but is not limited to, data relating to the Employer’s operations, customer information, financial data, computer programs, architectural drawings, marketing plans and information, operating procedures and the like, or any other information of the business affairs of True Nature.

 

Employee shall not, directly or indirectly, use, disseminate, disclose, or in any way reveal or use beyond the scope of authority granted by the Employer all or any part of such Confidential Information, which he/she has been or will be exposed to, and shall use such Confidential Information only to the extent specifically authorized by the Employer.

 

Upon termination of this Agreement for any reason whatsoever, Employee shall turn over to the Employer all Confidential Information. Employee acknowledges that the Employer may exercise any and all remedies available to it at law or in equity to enforce this Agreement with respect to non-disclosure of any Confidential Information, which Employee has or will become privy to in the performance of its obligations under this Agreement.  The parties acknowledge that this provision shall survive the termination of the Agreement.

 

6. Work Product

 

Any programs, systems, plans, software, hardware, devices, and ideas developed by Employee or anyone in the Employee’s Department during the period of Employee’s employment from the date of original hire shall be the exclusive property of the Employer.

 

7. Covenant Not to Compete.  

 

(a) Employee agrees that during the terms of this Agreement he shall devote his part business time, energy, skill, labor, and attention to the affairs of the Employer and its affiliates or subsidiaries, shall promptly and faithfully do

 

 

 

 

and perform all services pertaining thereto that are or may hereafter be required of him by the Employer, and shall not engage in any activities, directly or indirectly, involving a conflict of interest with the business or relations of the Employer or its affiliates or subsidiaries. Specifically, the Employee shall not become engaged with any other healthcare technology provider, including but not limited to former clients of LocalPetRx, its successors or affiliates.

 

(b) Employee recognizes that the business of the Employer and its affiliates or subsidiaries are national and international in scope and that the services to be performed hereunder and the methods employed by the Employer or its affiliates or subsidiaries are such as will place Employee in close business and personal relationship with competing businesses of the Employer or its affiliates or subsidiaries.  Therefore, from and after the date of this Agreement and for one year after expiration of this Agreement or termination of this Agreement, Employee shall not, directly or indirectly, for his own benefit or for, with, or through any other person, company, or competitive company to Employer, within the states of Georgia own, manage consult, or be connected with, as owner, partner, joint venture, director, employee, officer, consultant, or in any other capacity whatsoever, engage in any business which is the same as, similar to or competitive with any business activities of the Employer.  “Business” is defined as any healthcare technology activity.  Employee acknowledges that the restrictive covenants (the “Restrictive Covenants’) contained in this Section are a condition of his employment and are reasonable and valid in geographical and temporary scope and in all other respects.  If any court determines that any Restrictive Covenants, or any part of the Restrictive Covenants, is invalid or unenforceable, the remainder of the Restrictive Covenants and parts thereof shall not thereby be affected and shall be given full effect, without regard to the invalid portion.  If any court determines that any of the Restrictive Covenants, or any part thereof, is invalid and unenforceable because of geographic or temporal scope of such provision, such court shall have the power to reduce the geographic or temporal scope of such provision, as the case may be, and, in its reduced form, such provision shall then be enforceable.

 

(c) If Employee breaches, or threatens to breach, any of the Restrictive Covenants, the Employer, in addition to and not in lieu of any other rights and remedies it may have at law or in equity, shall have the right to injunctive relief; it being acknowledged and agreed to by Employee that any such breach or threatened breach would cause irreparable and continuing injury to the Employer and that money damages would not provide an adequate remedy to the Employer.

 

8. Miscellaneous.

 

(a) Employee represents to Employer that there are no restrictions or agreements to which he is a party which would be violated by his execution of this Agreement and his employment hereunder.

 

(b) No amendment or waiver of any provision of this Agreement shall be effective unless in writing signed by both parties.

 

(c) Employee shall have no right to assign, transfer, pledge or otherwise encumber any of the rights, nor to delegate any of the duties created by this Agreement.

 

9. Governing Law.

 

This Agreement is subject to and shall be interpreted in accordance with the laws of the State of Delaware.

 

 

 

 

 

 

 

 

EXECUTED, as of the date first written above.

 

 

 

 

EMPLOYER

 

 

By: ________________________________

Jordan P. Balencic, Chairman

 

 

Dated __6/28/2018____________________

 

 

 

 

EMPLOYEE

 

 

By: ____________________________

 

 

 

 

Date: ______________________________ex_121936.htm

 

Exhibit 10.4

 

 

 

LICENSING AGREEMENT

 

This Sponsored Licensing Agreement (“Agreement”) is entered into by True Nature Holding Inc., doing business (“TNTY”) and (the “Healthcare Industry Provider, or “User”), effective on the date it is last signed by the Parties (the “Effective Date”).

 

ARTICLE I. RECITALS

 

A.     TNTY has developed and owns the rights to proprietary software used for certain “telemedicine” applications including for recording client health records, which may include prescriptions and other healthcare activities, which is called the TNTY “Simple HIPAA” System (“TNTY System” or “Software”).

 

B.     The Software is capable of being integrated with the User information technology systems often found in medical and veterinary professional officer sand the system is designed to interface certain existing and new data with those existing systems.

 

C.     The User wishes to license the Software for use in its business, and in a manner that allows it to use the system with its clients as well. In this relationship the User shall be deemed to be a “Sponsor” of the system such that is may include certain interfaces unique to the User, communications, advertising and self-promotion to the User's employees and clients, use the TNTY name, and be trained on and use the Software.

 

D.      TNTY desires to allow the foregoing.

 

E.     The Parties agree that the terms and conditions of this Agreement are fair and beneficial to their relationship.

 

ARTICLE II. CONSIDERATION

 

Consideration for this Agreement comprises the recitals above, which are true and fully a part of this Agreement, the mutual promises and covenants below, and additional, valuable consideration, the receipt of which is hereby acknowledged.

 

ARTICLE III. TNTY SYSTEM

 

A.     INTERFACE. TNTY will install the Software and integrate it with the User’s current information technology to the extent allowable and practical within the User's license for that information technology The User will cooperate in every way, and take any step necessary, to achieve a successful interface between their existing system and TNTY System, including when

 

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necessary communicating the technical needs for the interface with the providers of the current information technology.

 

B.     USE. For the duration for this Agreement, the User will use TNTY System, and continue to keep TNTY System installed, functioning, and properly interfacing.

 

C.     TECHNICAL SUPPORT. TNTY will provide reasonable technical support for your TNTY System on an ongoing basis by phone or by authorized remote access. TNTY will further provide software updates as available as a part of a Software Maintenance Agreement

 

D.     TRAINING. TNTY will train selected User employees in the use of TNTY System. All employees will be trained together. Training will comprise two hours of training on the Software and one hour on the client and veterinarian portal, to take place in one day. Additional training may be provided at additional cost.

 

ARTICLE IV.     LIMITED LICENSES

 

A.     TERM. This agreement shall have a 12-month term, unless otherwise extended by mutual consent in writing.

 

B.     LIMITED LICENSE TO TNTY SYSTEM. During the term of this Agreement, TNTY grants to the User the non-exclusive and non-transferable license to use one copy of the Software for use solely in its business operations, and to the extent applicable, that of its clients. That use is limited to furthering the terms of this Agreement. The User may not copy the Software, modify it, incorporate it in other technology (except to interface with its existing information system under this Agreement), repurpose it, or sublicense, share, resell, or otherwise convey it to any third party without TNTY’s prior, written consent. The Software and the code underlying it remain the property and intellectual property of TNTY at all times, regardless of registration with any government agency.

 

C.     USE. The User will only use the above licenses granted under this Article in relation to the healthcare services it provides. Furthermore, it will refrain from making any use thereof in any way that might diminish, tarnish, disparage, or otherwise damage goodwill in the Service Mark. Additionally, the User must include the words “A TNTY Sponsor” or “A TNTY User” on every product container (pill boxes, bottles, etc.) it delivers to its clients, and on all their promotional material.

 

D.     SOURCE CODE. TNTY will place a copy of the source code and documentation in escrow not less than monthly and provide full access in the case of a business failure by TNTY. TNTY will own the code, but User will have a license unique for their “Sponsored” version.

 

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ARTICLE V.     COMPENSATION

 

A.     INITIAL LICENSE, SETUP AND INTEGRATION FEE. The User shall pay to TNTY an initial license fee of Twelve Thousand Five Hundred Dollars ($12,500.00) as consideration for the development of the Sponsor's version of the Software, to include installation and setup, as well as all use during the initial 12-month term. Payment terms for "Simple HIPAA for Vets and Pets", Sponsored version:

 

	 	
			1.

				
			$1,000 on signing, not later than June 30, 2018 (just send me copy of check, and stick it in the mail);

			

	 	
			2.

				
			$2,500 on first delivery of product version to Client;

			

	 	
			3.

				
			$2,500 on first installation to at least ten (10) vet clients;

			

	 	
			4.

				
			$6,000 divided into remaining months on 12-month contract, due on 10th of each month

			

 

Sponsor licensee keeps all advertising fees from vendors or other 3rd parties, up to $12,500 per year; All advertising fees over $12,500 are split 50/50 between licensee and TNTY will provide candidates for advertising subject to approval by licensee.

 

B.     MAINTENANCE PAYMENTS. The User will pay TNTY an annual maintenance fee equal to Fifteen Percent (15%) of the initial license fee. In this case the total annual maintenance shall be $1,875, payable monthly at a rate of $156.00 per month.

 

C.     MODE OF PAYMENT. The User will be invoiced by TNTY. Terms - payable on receipt of invoice.

 

ARTICLE VI.     EVENTS OF DEFAULT

 

The User will be deemed in default under this Agreement if any of the events below occurs.

 

A.     The User is dissolved.

 

B.     The User files for bankruptcy, seeks a substantially similar protection from creditors under state law, or is forced into the foregoing by its creditors.

 

C.     A pharmacist in the User is subject to disciplinary proceedings, and TNTY notifies the User that it deems the proceedings serious enough to constitute an event of default.

 

D.     The User is subject to a claim, demand, pursuit, lawsuit, administrative complaint, or other similar action for professional negligence, and TNTY notifies the User that it deems that action credible enough to constitute an event ofdefault.

 

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E.     The User’s approved credit card is declined for any reason and User does not remedy the situation within 3 business days.

 

ARTICLE VII.     TERMINATION

 

A.     ONE-YEAR TERMS. This Agreement for this license is valid for one year following the Effective Date. It may be renewed only by mutual agreement in writing. The monthly fee charged is subject to change at the time of any renewal. Except as provided in Section B of this Article, the parties may not cancel this Agreement except at the time of renewal or by mutual, written agreement.

 

B.     TERMINATION FOR DEFAULT. Notwithstanding Section A of this Article, this Agreement will terminate immediately upon an event of default, unless termination is expressly waived by TNTY in writing.

 

C.     EFFECT OF TERMINATION

 

	 	
			1.

				
			Termination of Services. Upon this Agreement’s termination, TNTY will immediately turn off the User’s TNTY System account and terminate web and interface services.

			

 

	 	
			2.

				
			End of Limited Licenses. The limited licenses granted the User to use TNTY System and the name TNTY will terminate immediately upon termination of this Agreement. In conjunction with any termination the User agrees to return to TNTY any and all of TNTY documentation or other materials or equipment provided by TNTY in conjunction with this License

			

 

ARTICLE VIII.     CONFIDENTIALITY

 

A.     CONFIDENTIAL MATERIAL. In the course of this Agreement, either Party may become aware of information in the possession of the other Party, which information is not known or readily ascertainable by the general public, and which the latter Party has taken care to keep secret (“Confidential Information”). Confidential Information may include, without limitation and as a matter of example only, training manuals or software use and code.

 

B.     EXCLUSION. Confidential Information does not include information already known by the Party receiving it prior to the Effective Date or information obtained from a source other than the Parties.

 

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The Party receiving Confidential Information may not disclose its nature, content or existence except:

 

	 	
			1.

				
			To its own officers and employees but only to the extent necessary to implement this Agreement;

			

 

	 	
			2.

				
			To its attorneys, accountants, or other advisors if in their estimation they need to know the Confidential Information to effectively provide their services;

			

 

	 	
			3.

				
			In response to a court order, but only after giving the Party who provided the Confidential Information the opportunity to oppose such court order;or

			

 

	 	
			4.

				
			With the express permission of the Party who provided the Confidential Information

			

 

C.     LIMITS ON USE. The Party receiving the Confidential Information may not use it for any purpose other than to implement this Agreement or as authorized by the Party that provided it.

 

D.     RETENTION. The Party receiving Confidential Information must take reasonable precautions to maintain its confidentiality.

 

ARTICLE IX.     MISCELLANEOUS TERMS

 

A.     Choice of Law and Venue. This Agreement is governed by Florida law. Any litigation arising out of or related to this Agreement will be heard by such Florida or Federal Court in and for Duval County as has subject-matter jurisdiction, and the Parties hereby subject themselves to that Court’s jurisdiction.

 

B.     Parties and Entire Agreement. This Agreement binds the Parties thereto, their officers, directors, affiliates, successors and assigns. This agreement is the “entire agreement” and supersedes any other agreements, whether written or verbal, between the parties.

 

C.     No Third-Party Rights. Nothing in this Agreement creates any right in favor of any person or entity other than the Parties and this agreement may not be assigned to any other parties without the written consent of TNTY.

 

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D.     Nature of Relationship. Nothing in this Agreement may be construed to create a partnership, joint venture, or any relationship other than that clearly apparent from the plain terms of this Agreement.

 

E.     No waiver. The failure of either Party to insist on the performance of any of the terms of this Agreement, or the waiver of any breach of any of the terms of this Agreement, will not be construed as waiving any other term or right at any other time.

 

F.     Severability. If any Court should hold or find any of the terms of this Agreement void or voidable, such a finding may in no way affect the enforcement or validity of the remainder of this Agreement or the particular paragraph in which the provision is located.

 

G.     Interpretation. The Parties acknowledge that they have read this Agreement, that they understand its terms, and that they agree to be bound by it. Each has had the opportunity to consult with an attorney. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly, and no presumption or burden of proof may arise favoring or disfavoring either Party by virtue of authorship.

 

H.     Integration. The Parties represent and warrant that they are not relying on any promises or representations that do not appear written in this Agreement. In particular, the Shared Services Program Overview that may have been presented to the User was presented as a visual aid only. The terms of this Agreement alone govern.

 

I.     Numbers and Genders. Where the context so indicates or requires, the singular includes the plural, the plural the singular, and the use of any gender is applicable to all genders.

 

J.     Captions. The captions in this Agreement are for convenience only, are not a part of this Agreement, and do not limit or amplify the terms and provisions of this Agreement.

 

K.    Survivability. Where necessary to enforce the Parties’ intent under this Agreement, its provisions are meant to survive its termination.

 

L.     Writings. Any action required by this Agreement to be taken in writing may be done by electronic mail.

 

M.     Amendment. This Agreement may not be amended except by written agreement signed by both Parties.

 

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N.     Counterparts. This Agreement may be executed in any number of counterparts, each of which will be deemed to be an original, and all of which together constitute one and the same instrument. Signatures transmitted by facsimile or digital scan will be deemed original signatures.

 

O.     Authority. The persons executing this Agreement are duly authorized by the respective Parties to do so.

 

 

 

 

 

	SIGNATURES	 	 	 
	 	 	 	 
	 	 	 	 
	Name	 	Date	 
	for Pharmacy Name	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Jay Morton, President and Interim CEO	 	Date	 
	for True Nature Holding Inc. (TNTY)	 	 	 

 

 

 

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