Document:

Exhibit 10.20

 

EXECUTION VERSION

 

FIFTH AMENDMENT AGREEMENT

TO CREDIT AND SECURITY AGREEMENT

 

This FIFTH AMENDMENT AGREEMENT (this “Amendment”), dated as of April 21, 2014, is by and between THE LONGABERGER COMPANY, an Ohio corporation (“Borrower”), and KEYBANK NATIONAL ASSOCIATION, a national banking association (“Lender”).

 

BACKGROUND

 

A.                                    Borrower and Lender entered into that certain Credit and Security Agreement dated as of October 23, 3012 (as amended, and as the same may further be amended, modified, extended, or restated from time to time, the “Agreement”), pursuant to which Lender extended certain financing accommodations to Borrower.

 

B.                                    The parties hereto have agreed to modify the terms and conditions of the Agreement as more fully set forth herein.

 

C.                                    Capitalized terms used but not otherwise defined herein shall have the meanings given to such terms in the Agreement.

 

NOW THEREFORE, in consideration of the terms, conditions and covenants set forth below, and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties, intending to be legally bound hereby, promise and agree as follows:

 

1.                                      Amendment to Definitions. Section 1.2 of the Agreement is hereby amended by deleting the following definition of “Temporary Fixed Asset Advance” in its entirety and replacing it with the following:

 

“Temporary Fixed Asset Advance” shall mean, the amounts set forth below for each time period set forth below:

 

	
Time Period
    	
 
    	
Amount
    	
 
    
	
Third Amendment Effective Date — May 30, 2014
    	
 
    	
$
    	
500,000
    	
 
    
	
On and after May 31, 2014
    	
 
    	
$
    	
0
    	
 
    

 

2.                                      Expenses.  Prior to the effectiveness of this Amendment, Borrower shall reimburse Lender for all out-of-pocket costs and expenses incurred in connection with this Amendment, including, without limitation, attorneys’ fees.

 

3.                                      Conditions Precedent.  In addition to all of the other conditions and agreements set forth herein, the effectiveness of this Amendment is subject to the following conditions precedent:

 

(a)                                 Borrower shall execute and deliver to Lender this Amendment;

 

 

(b)                                 As soon as possible, but in any event prior to April 24, 2014, Borrower shall have expanded the scope of its engagement with the Consultant, in a manner and according to terms reasonably acceptable to the Lender, which shall include, among other things, that the Consultant will act as Borrower’s primary contact with Lender with respect to Borrower’s request for additional financing and will provide information and reporting to Lender in connection therewith.

 

(c)                                  Borrower shall have paid any and all out-of-pocket costs, fees and expenses of Lender (including attorney fees) in connection with this Amendment;

 

(d)                                 Lender shall have received such other and further documentation as Lender may reasonably deem necessary or appropriate to accomplish the terms set forth herein, each in form and substance reasonably satisfactory to Lender;

 

4.                                      Default Waiver.  Borrower has informed Lender that the following Event of Default is anticipated: an Event of Default under Section 10.5 (Breach of Covenants) of the Agreement by virtue of Borrower failing to comply with the Fixed Charge Coverage Ratio contained in Section 6.3 for the period ending March 31, 2014 (the “Anticipated Default”).  Borrower has requested that Lender waive the Anticipated Default.  Lender is willing to waive the Anticipated Default and hereby waives the Anticipated Default.  This waiver is granted only with respect to the Anticipated Default and not with respect to any other Default or Event of Default which has previously existed, now exists, or at any time in the future shall exist, or any other breach of, or failure to comply with, the Agreement or any other Loan Document.  Nothing contained in this provision shall in any way constitute or be construed as a waiver by Lender of any of the rights and remedies available under the Agreement, the other Loan Documents, or applicable law, or be deemed to constitute or create a course of dealing between Borrower or Lender that may obligate or restrict Lender in any manner with respect to its future and current dealings with the Borrower.

 

5.                                      Representations and Warranties.  Borrower hereby represents and warrants to Lender that (a) Borrower has the legal power and authority to execute and deliver this Amendment, (b) the officials executing this Amendment have been duly authorized to execute and deliver the same and bind Borrower with respect to the provisions hereof, (c) the execution and delivery hereof by Borrower and the performance and observance by Borrower of the provisions hereof do not violate or conflict with the organizational agreements of Borrower or any law applicable to Borrower or result in a breach of any provisions of or constitute a default under any Material Business Agreement or any other agreement, instrument or document binding upon or enforceable against Borrower, (d) this Amendment constitutes a valid and binding obligation upon Borrower in every respect except as limited by bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or similar federal or state laws or judicial decisions relating to the rights of creditors, (e) no event or condition which has or could reasonably be expected to have a Material Adverse Effect as to Borrower has occurred from the Closing Date to the date hereof, and (f) no Default or Event of Default is outstanding under the Agreement, except for the Anticipated Default set forth and defined in Section 4 of this Amendment.

 

6.                                      Governing Law; Use of Terms Etc.  Except as previously amended or as herein specifically amended, directly or by reference, all of the terms and conditions set forth in the Agreement are confirmed and ratified, and shall remain as originally written.  This Amendment shall be construed in accordance with the laws of the State of Ohio, without regard to principles of conflict of laws.  The Agreement and all other Loan Documents shall remain in full force and effect in all respects as if the unpaid balance of the principal outstanding, together with interest accrued thereon, had originally been payable and secured as provided for therein, as amended from time to time and as modified by this Amendment.  Nothing herein shall affect or impair any rights and powers which Lender may have under the Agreement and any and all related Loan Documents.

 

2

 

7.                                      No Set Offs Etc.  Borrower hereby declares that no Borrower has any set offs, counterclaims, defenses or other causes of action against Lender arising out of the Agreement, any Loan Document or any related documents, and to the extent any such set offs, counterclaims, defenses or other causes of action may exist, whether known or unknown, such items are hereby waived by Borrower.

 

8.                                      Confirmation of Security Interests.  Borrower confirms and agrees that all prior security interests and liens granted to Lender in all existing and future assets of Borrower remain unimpaired and in full force and effect and shall continue to cover and secure all Obligations.  Borrower further confirms and represents that all of the collateral of Borrower remains free and clear of all liens other than those in favor of Lender or as otherwise permitted in the Agreement.  Nothing contained herein is intended to in any way impair or limit the validity, priority or extent of Lender’s security interest in and liens upon the collateral of Borrower.

 

9.                                      Obligations Absolute.  Borrower covenants and agrees (a) to pay the balance of any principal, together with all accrued interest, as specified above in connection with any promissory note executed and evidencing any indebtedness incurred in connection with the Agreement, as modified by this Amendment pursuant to the terms set forth therein, and (b) to perform and observe covenants, agreements, stipulations and conditions on its part to be performed hereunder or under the Agreement and all other documents executed in connection herewith or thereof.

 

10.                               Release.  BORROWER HEREBY RELEASES, WAIVES AND FOREVER RELINQUISHES ALL CLAIMS, DEMANDS, OBLIGATIONS, LIABILITIES AND CAUSES OF ACTION OF WHATEVER KIND OR NATURE, WHETHER KNOWN OR UNKNOWN, INCLUDING ANY SO-CALLED “LENDER LIABILITY” CLAIMS OR DEFENSES WHICH IT HAS, MAY HAVE, OR MIGHT ASSERT NOW OR IN THE FUTURE AGAINST LENDER AND/OR ITS RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ATTORNEYS, ACCOUNTANTS, CONSULTANTS, SUCCESSORS, AND ASSIGNS (INDIVIDUALLY, EACH A “RELEASEE” AND COLLECTIVELY, THE “RELEASEES”), DIRECTLY OR INDIRECTLY, ARISING OUT OF, BASED UPON, OR IN ANY MANNER CONNECTED WITH (A) ANY TRANSACTION, EVENT, CIRCUMSTANCE, ACTION, FAILURE TO ACT, OR OCCURRENCE OF ANY SORT OR TYPE, WHETHER KNOWN OR UNKNOWN, WHICH OCCURRED, EXISTED, OR WAS TAKEN OR PERMITTED PRIOR TO THE EXECUTION OF THIS AMENDMENT WITH RESPECT TO THE OBLIGATIONS, THE AGREEMENT, THE OTHER DOCUMENTS, OR THE ADMINISTRATION THEREOF, (B) ANY DISCUSSIONS, COMMITMENTS, NEGOTIATIONS, CONVERSATIONS, OR COMMUNICATIONS WITH RESPECT TO THE OBLIGATIONS OR (C) ANY THING OR MATTER RELATED TO ANY OF THE FOREGOING PRIOR TO THE EXECUTION OF THIS AMENDMENT.  THE INCLUSION OF THIS PARAGRAPH IN THIS AMENDMENT AND THE EXECUTION OF THIS AMENDMENT BY LENDER DOES NOT CONSTITUTE AN ACKNOWLEDGMENT OR ADMISSION BY LENDER OF LIABILITY FOR ANY MATTER, OR A PRECEDENT UPON WHICH ANY LIABILITY MAY BE ASSERTED.

 

11.                               Non-Waiver.  This Amendment does not obligate Lender to agree to any other modification of the Agreement nor does it constitute a course of conduct or dealing on behalf of Lender or a waiver of any other rights or remedies of Lender.  No omission or delay by Lender in exercising any right or power under the Agreement, this Amendment or any related instruments, agreements or documents will impair such right or power or be construed to be a waiver of any Default or Event of Default or an acquiescence therein, and any single or partial exercise of any such right or power will not preclude other or further exercise thereof or the exercise of any other right, and no waiver will be valid unless in writing and then only to the extent specified.

 

3

 

12.                               Incorporation.  This Amendment is incorporated by reference into, and made part of, the Agreement which, except as expressly modified herein, remains in full force and effect in accordance with its terms.

 

13.                               No Modification.  No modification of this Amendment or of any agreement referred to herein shall be binding or enforceable unless in writing and signed on behalf of the party against whom enforcement is sought.

 

14.                               Headings.  The headings of any section or paragraph of this Amendment are for convenience only and shall not be used to interpret any provision of this Amendment.

 

15.                               Successors and Assigns.  This Amendment will be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

16.                               Severability.  The provisions of this Amendment are to be deemed severable, and the invalidity or unenforceability of any provision shall not affect or impair the remaining provisions which shall continue in full force and effect.

 

17.                               Counterparts, Electronic Signature.  This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Signature by facsimile, email or other electronic method shall have the same force and effect as an original signature hereto.

 

18.                               CONFESSION OF JUDGMENT.  BORROWER HEREBY AUTHORIZES ANY ATTORNEY-AT-LAW TO APPEAR IN ANY COURT OF RECORD IN ANY COUNTY IN THE STATE OF OHIO OR ELSEWHERE WHERE A LOAN PARTY HAS A PLACE OF BUSINESS, SIGNED THIS AGREEMENT OR CAN BE FOUND, AFTER LENDER DECLARES A DEFAULT AND ACCELERATES THE BALANCES DUE UNDER THIS AGREEMENT, TO WAIVE THE ISSUANCE OF SERVICE OF PROCESS AND CONFESS JUDGMENT AGAINST THE LOAN PARTIES IN FAVOR OF LENDER FOR THE AMOUNTS THEN APPEARING DUE, TOGETHER WITH THE COSTS OF SUIT, AND THEREUPON TO RELEASE ALL ERRORS AND WAIVE ALL RIGHT OF APPEAL AND STAY OF EXECUTION.  BORROWER AGREES AND CONSENTS THAT THE ATTORNEY CONFESSING JUDGMENT ON BEHALF OF THE LOAN PARTIES HEREUNDER MAY ALSO BE COUNSEL TO LENDER OR ANY OF ITS AFFILIATES, WAIVES ANY CONFLICT OF INTEREST WHICH MIGHT OTHERWISE ARISE, AND CONSENTS TO LENDER PAYING SUCH CONFESSING ATTORNEY A LEGAL FEE OR ALLOWING SUCH ATTORNEY’S FEES TO BE PAID FROM ANY PROCEEDS OF COLLECTION OF THIS AGREEMENT OR COLLATERAL SECURITY THEREFOR.

 

19.                               Jury Waiver.    THE PARTIES HERETO HEREBY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING RELATING TO THIS AMENDMENT, ANY OF THE LOAN DOCUMENTS, ANY DOCUMENT DELIVERED HEREUNDER OR IN CONNECTION HEREWITH, OR ANY TRANSACTION ARISING FROM OR CONNECTED TO ANY OF THE FOREGOING.  THE PARTIES REPRESENT THAT THIS WAIVER IS KNOWINGLY, WILLINGLY AND VOLUNTARILY GIVEN.

 

[Signature page follows]

 

4

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered on the date first set forth above in Ohio.

 

WARNING — BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL.  IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY OTHER CAUSE.

 

	
 
    	
BORROWER:
    
	
 
    	
 
    	
 
    
	
 
    	
THE   LONGABERGER COMPANY
    
	
 
    	
an Ohio corporation
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mike Trempe
    
	
 
    	
Name:
    	
Mike   Trempe
    
	
 
    	
Title:
    	
President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LENDER:
    
	
 
    	
 
    	
 
    
	
 
    	
KEYBANK   NATIONAL ASSOCIATION,
    
	
 
    	
a national banking association
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Nadine Eames
    
	
 
    	
 
    	
Nadine   Eames
    
	
 
    	
 
    	
Vice   President
    
				

 

Signature Page to

Fifth Amendment Agreement to Credit and Security AgreementExbibit 10.10 Fourth Amended Consulting Agreement

FOURTH AMENDED AND RESTATED CONSULTING AGREEMENT 

Effective July 1, 2013, Numerity Corporation of 256 W El Camino Real, Sunnyvale, CA 94087(“Consultant”) and IN Media Corporation of 829 Folsom Street, #716, San Francisco, CA 94107 (“Company”) agree as follows:

1.

Services and Payment.  Consultant agrees to undertake and complete the services (“Services,” as further defined in Exhibit A) in accordance with and on the schedule specified in Exhibit A.  The scope of Services may be modified upon written consent by both parties by modification of Exhibit A.  As the only consideration due Consultant regarding the subject matter of this Agreement, Company will pay Consultant in accordance with Exhibit A.  This Agreement replaces and supercedes all prior consulting agreements between the parties and contains the entire terms of the current arrangement between the parties

2.

Ownership; Rights; Proprietary Information; Publicity. 

a.

Company shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask work rights, trademark rights, sui generis database rights and all other intellectual and industrial property rights of any sort throughout the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas and information made or conceived or reduced to practice, in whole or in part, by Consultant in connection with Services or any Proprietary Information (as defined below) (collectively, “Inventions”) and Consultant will promptly disclose and provide all Inventions to Company.  Consultant hereby makes all assignments necessary to accomplish the foregoing ownership.  Consultant shall assist Company, at Company’s expense, to further evidence, record and perfect such assignments, and to perfect, obtain, maintain, enforce and defend any rights assigned.  Consultant hereby irrevocably designates and appoints Company as its agents and attorneys-in-fact, coupled with an interest, to act for and on Consultant’s behalf to execute and file any document and to do all other lawfully permitted acts to further the foregoing with the same legal force and effect as if executed by Consultant.

b.

Consultant agrees that all Inventions and all other business, technical and financial information (including, without limitation, the identity of and information relating to customers or employees) Consultant learns, develops or obtains in connection with Services or that are received by or for Company in confidence, constitute “Proprietary Information.”  Consultant shall hold in confidence and not disclose or, except in performing the Services, use any Proprietary Information.  However, Consultant shall not be obligated under this paragraph with respect to information Consultant can document is or becomes readily publicly available without restriction through no fault of Consultant. Upon termination or as otherwise requested by Company, Consultant will promptly return to Company all items and copies containing or embodying Proprietary Information, except that Consultant may keep its personal copies of its compensation records and this Agreement.  Consultant also recognizes and agrees that Consultant has no expectation of privacy with respect to Company’s telecommunications, networking or information processing systems (including, without limitation, stored computer files, email messages and voice messages) and that Consultant’s activity, and any files or messages, on or using any of those systems may be monitored at any time without notice.

c.

As additional protection for Proprietary Information, Consultant agrees that during the period that it is to be providing Services (i) and for three (3) years thereafter, Consultant will not encourage or solicit any employee or consultant of Company to leave Company for any reason and (ii) Consultant will not engage in any activity that is in any way competitive with the business or demonstrably anticipated business of Company, and Consultant will not assist any other person or organization in competing or in preparing to compete with any business or demonstrably anticipated business of Company. Without limiting the foregoing, Consultant may perform services for other persons, provided that such services do not represent a conflict of interest or a breach of Consultant’s obligation under this Agreement or otherwise.

d.

To the extent allowed by law, Section 2.a and any license granted Company hereunder includes all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as or referred to as “moral rights,” “artist’s rights,” “droit moral,” or the like.  To the extent any of the foregoing is ineffective under applicable law, Consultant hereby provides any and all ratifications and consents necessary to accomplish the purposes of the foregoing to the extent possible.  Consultant will confirm any such ratifications and consents from time to time as requested by Company.  If any other person provides any Services, Consultant will obtain the foregoing ratifications, consents and authorizations from such person for Company’s exclusive benefit.

e.

If any part of the Services or Inventions is based on, incorporates, or is an improvement or derivative of, or cannot be reasonably and fully made, used, reproduced, distributed and otherwise exploited without using or violating technology or intellectual property rights owned or licensed by Consultant and not assigned hereunder, Consultant hereby grants Company and its successors a perpetual, irrevocable, worldwide royalty-free, non-exclusive, sublicensable right and license to exploit and exercise all such technology and intellectual property rights in support of Company’s exercise or exploitation of the Services, Inventions, other work performed hereunder, or any assigned rights (including any modifications, improvements and derivatives of any of them).

3.

Warranty.  Consultant warrants that:  (i) the Services will be performed in a professional and workmanlike manner and that none of such Services nor any part of this Agreement is or will be inconsistent with any obligation Consultant may have to others; (ii) all work under this Agreement shall be Consultant’s original work and none of the Services or Inventions nor any development, use, production, distribution or exploitation thereof will infringe, misappropriate or violate any intellectual property or other right of any person or entity (including, without limitation, Consultant); and (iii) Consultant has the full right to allow it to provide Company with the assignments and rights provided for herein.

4.

Termination.  This Agreement shall terminate upon the earlier of (1) completion of Services by Consultant (2) six months from date of agreement, or (3) termination by either party as provided in this Section 4.  If either party breaches a material provision of this Agreement, the other party may terminate this Agreement upon ten (10) days’ notice, unless the breach is cured within the notice period.  Either party also may terminate this Agreement at any time, with or without cause, upon thirty (30) days’ notice to the other party, but, if (and only if) such termination is by Company without cause, Company shall upon such termination pay Consultant all unpaid amounts due for Services completed prior to notice of such termination.  Sections 2 (subject to the limitations set forth in Section 2.c) through 9 of this Agreement and any remedies for breach of this Agreement shall survive any termination or expiration. 

5.

Relationship of the Parties; Independent Contractor; No Employee Benefits.  Notwithstanding any provision hereof, Consultant is an independent contractor and is not an employee, agent, partner or joint venturer of Company and shall not bind nor attempt to bind Company to any contract without written approval of the Board of Directors of the Company. Consultant shall accept any directions issued by Company pertaining to the goals to be attained and the results to be achieved by Consultant, but Consultant shall be solely responsible for the manner and hours in which Services are performed under this Agreement.  Consultant shall not be eligible to participate in any of Company’s employee benefit plans, fringe benefit programs, group insurance arrangements or similar programs.  Company shall not provide workers’ compensation, disability insurance, Social Security or unemployment compensation coverage or any other statutory benefit to Consultant. Consultant shall comply at Consultant’s expense with all applicable provisions of workers’ compensation laws, unemployment compensation laws, federal Social Security law, the Fair Labor Standards Act, federal, state and local income tax laws, and all other applicable federal, state and local laws, regulations and codes relating to terms and conditions of employment required to be fulfilled by employers or independent contractors.  Consultant agrees to indemnify Company from any and all claims, damages, liability, settlement, attorneys’ fees and expenses, as incurred, on account of the foregoing or any breach of this Agreement or any other action or inaction of Consultant.   If Consultant is a corporation, it will ensure that its employees and agents are bound in writing to Consultant’s obligations under this Agreement.

6.

Non-Compete.  During the term of this Agreement and three (3) years thereafter, Consultant shall not, without Company’s written consent, directly or indirectly provide Services to any competing third party or encourage, advise, assist or solicit any of Company’s clients, vendors, employees or contractors to reduce or terminate their business or employment relationship with Company.

7.

Assignment.  This Agreement and the services contemplated hereunder are personal to Consultant and Consultant shall not have the right or ability to assign, transfer or subcontract any obligations under this Agreement without the written consent of Company.  Any attempt to do so shall be void.  Company may assign its rights and obligations under this agreement in whole or part.

8.

Notice.  All notices under this Agreement shall be in writing and shall be deemed given when personally delivered, or three days after being sent by prepaid certified or registered U.S. mail to the address of the party to be noticed as set forth herein or to such other address as such party last provided to the other by written notice.

2

9.

Miscellaneous.  Any breach of Section 2 or 3 will cause irreparable harm to Company for which damages would not be an adequate remedy, and therefore, Company will be entitled to injunctive relief with respect thereto in addition to any other remedies.  The failure of either party to enforce its rights under this Agreement at any time for any period shall not be construed as a waiver of such rights.  No changes or modifications or waivers to this Agreement will be effective unless in writing and signed by both parties.  In the event that any provision of this Agreement shall be determined to be illegal or unenforceable, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement shall otherwise remain in full force and effect and enforceable.  This Agreement shall be governed by and construed in accordance with the laws of the State of California without regard to the conflicts of laws provisions thereof.  In any action or proceeding to enforce rights under this Agreement, the prevailing party will be entitled to recover costs and attorneys’ fees.  Headings herein are for convenience of reference only and shall in no way affect interpretation of the Agreement.

/s/ Nick Karnik                                      

/s/ Dan Mabey                                      

(Consultant)

IN Media Corporation.

For Numerity Corporation

By Dan Mabey, Director

3

EXHIBIT A

SERVICES

CONSULTANT SHALL PROVIDE THE FOLLOWING SERVICES TO THE COMPANY. THE TERM OF THE SERVICES WILL CONTINUE UNTIL THE SOONER OF (1) SERVICES ARE COMPLETED TO THE SATISFACTION OF THE COMPANY (2) THE APPROVED BUDGET CAP IS SPENT OR (3) THE AGREEMENT IS TERMINATED UNDER SECTION 4.

·

IDENTIFY TARGET CUSTOMERS FOR AND OBTAIN THEIR PRODUCT SPECS, ROADMAPS, AND PURCHASE REQUIREMENTS. 

·

DEVELOP SALES CHANNELS AND IDENTIFY AND SECURE SALES ORDERS FROM PROSPECTIVE CUSTOMERS 

·

DEVELOP AND MAINTAIN SALES AND MARKETING PROMOTIONAL MATERIALS AND CAMPAIGNS INCLUDING WEB SITES AND CHANNEL PARTNER PROGRAMS

·

IDENTIFY KEY ENGINEERING AND PRODUCT DEVELOPMENT CONTACTS AT TARGET CUSTOMERS AND BUILD RELATIONSHIPS OF UNDERSTANDING IN ADVANCE OF OUR SALES PUSH.  

·

IDENTIFY AND SPECIFY OUR PERFORMANCE DISCREPANCIES BETWEEN CUSTOMER PROJECTED NEEDS AND OUR PROJECTED PERFORMANCE, AND LIASE WITH OUR ENGINEERING DEPT TO DESIGN MODIFICATIONS, IMPROVEMENTS AND NEW FEATURES INTO OUR PRODUCT DEVELOPMENT ROADMAP

·

WRITE UP PRODUCT WORKSHEETS SO AS TO EMPHASIZE THE FEATURES AND POTENTIAL APPLICATIONS FOR TRINITY, AND WORK WITH SALES MANAGEMENT TO PREPARE PRODUCT SPEC SHEETS AND PROMOTIONAL MATERIAL.

·

ESTABLISH LOGICAL MILESTONES FOR TEST AND EVALUATION PURPOSES, AND APPROPRIATE TEST PROCEDURES TO MONITOR AND MEASURE TRACKING WITH THOSE MILESTONES

·

WRITE UP PRODUCT WORKSHEETS SO AS TO EMPHASIZE THE FEATURES AND POTENTIAL APPLICATIONS, AND WORK WITH SALES MANAGEMENT TO PREPARE PRODUCT SPECS.

4

EXHIBIT B

COMPENSATION

Until such time as Consultant introduces an order that results in revenue being recognized by the Company, Consultant shall, from July 1, 2013, be compensated only by the reimbursement of approved out of pocket expenses incurred in the pursuit of sales objectives.

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]