Document:

Exhibit 10.10

 

PROMISSORY
NOTE

 

	
  $78,000

  	
   

  	
  July 26, 2002

  

 

FOR VALUED
RECEIVED, and legally bound hereby, INNSUITES HOSPITALITY TRUST (“Maker”), an
Ohio real estate investment trust, having an office at 1615 East Northern
Avenue, Suite 102, Phoenix, Arizona 85020 hereby promises to pay to The
Anderson Charitable Remainder Unitrust (“Note Holder”) or order and address as
specified below the principal sum of SEVENTY EIGHT  THOUSAND 00/100 DOLLARS ($78,000), with
interest on the unpaid principal balance thereon from time to time outstanding,
at the rate of seven percent (7.00%) per annum, computed on a three hundred
sixty (360)-day year, to be due and payable in installments of principal and
interest as follows:

 

(A)                              $78,000
amortized over 36 months at 7% interest ($2,408.41/month). This Note is
non-recourse secured by 40,500 InnSuites Hospitality Trust shares. Monthly
installments of principal and interest to begin 30 days after the delivery of
the shares.

 

(B)                                Payments
to be made payable to:

The
Anderson Charitable Remainder Unitrust

3024
W/ Sahuaro Dr.

Phoenix,
AZ 85029

 

The 40,500 InnSuites
Hospitality Trust shares will remain as security for the unpaid balance on the
Note.

 

At the option of
the Note Holder, late charges upon written notice are assessed as follows:

10 days late, $50 penalty

35 days late, $150 penalty

Over 35 days late, Note Holder could declare the note
in default and call the entire amount due.

Should default be declared, units proportionate to
unpaid balance will be returned to Note Holder.

 

Principal and
interest payable in lawful money of the United States.

 

If legal
proceedings are entered into to recover on this Note, the undersigned agree(s)
to pay such sum as the Court may fix as attorney’s fees.

 

The Makers and
endorsers hereof severally waive diligence, demand, presentment for payment and
protest, and consent to the extension or time of payment of this Note without
notice.

 

 

	
   

  	
  INNSUITES HOSPITALITY
  TRUST,

  an Ohio real estate investment trust

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Marc E. Berg

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Marc E. Berg

  
	
   

  	
   

  	
  Title:

  	
  Secretary Treasurer

  
							

 

1Exhibit 10.1 Roberts Employment Status letter

E-LOAN, INC.
 6230 Stoneridge Mall Road 
Pleasanton, CA 94588

May 10, 2005 

Mr. Matthew Roberts
6230
Stoneridge Mall Road
Pleasanton, CA 94588 

          Re:
Employment Status

Dear Matt: 

          This confirms
our agreement regarding your resignation as an officer of E-Loan, Inc.
(“Company”) and other modifications to your employment with E-Loan, Inc.
(“Company”). 

               1.       
          You have submitted and the Company has accepted your resignation as an officer,
          effective as of the end of business on May 10, 2005. You have also submitted and
          the Company has also accepted your resignation as an employee, effective October
          15, 2005. At that time, we may agree but are not obligated to extend your
          employment for an additional period thereafter, at an agreed rate of pay. 

               2.       
          As of June 16, 2005, your monthly base salary will be adjusted to the gross
          amount of $3,125, less necessary withholdings and authorized deductions, payable
          pursuant to the Company’s regular payroll practices at the time. As of that
          date, your duties will be to provide limited assistance to the Company as may be
          reasonably requested to enable a smooth and professional transition of your
          duties as the Company’s chief financial officer to a successor. We
          understand that any requested assistance will relate to past financial areas
          where you can provide unique assistance. 

               3.       
          During all periods of your employment, you will continue to be covered by the
          Company’s personnel, financial and governance policies as they may be
          modified from time to time. Further, on and after May 10, 2005 you will have no
          authority to represent or otherwise to bind the Company on any matter, except as
          specifically authorized by me in writing. Continued employment is conditional
          upon your compliance with these provisions. 

			Very truly yours,

By: /s/ Mark E. Lefanowicz
——————————————

Mark E. Lefanowicz
President and Chief Executive Officer

CONFIRMED AND AGREED this 10th day of
May, 2005. 

/s/  Matthew Roberts
Matthew RobertsAXM Pharma, Inc. Exhibit 10.1

Consulting Agreement

This is an agreement dated and effective this 15th day of March, 2005 by and between Madden Consulting, Inc. (hereinafter referred to as The Company), and AXM Pharma, Inc. (AMEX: AXJ), whose address is 7251 W. Lake Mead, Suite 300 Las Vegas, NV  89128 (hereinafter referred to as The Client).

Recitals

I.

The Client desires to obtain consulting services from The Company as more particularly described herein (“Scope of Services and Manner of Performance”).

II.

The Company is in the business of providing such consulting services and has agreed to provide the services on the terms and conditions set forth in this agreement.

Now, therefore, in consideration of the faithful performance of the obligations set forth herein and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, The Company and The Client hereby agree as follows.

Terms

1.

Scope of Services.  The Company will perform consulting for and on behalf of The Client in relation to interactions with broker-dealers, shareholders and members of the public, subject to the covenants set forth in Section 8 herein, and will consult with The Client on matters pertaining to corporate exposure/investor awareness, business modeling and development and can perform services including:

A.

Telephone marketing/advertising campaigns

B.

Internet marketing/advertising campaigns

C.

Road-show presentations

D.

Investor conference calls

Subject to the covenants set forth in Section 8 herein, it is intended that The Company will distribute company material to institutions, portfolio managers, broker-dealers, financial advisors and other persons whom The Company determines in its sole discretion, are capable of disseminating such information to the general public.  The Company will also advise The Client concerning marketing and promotional matters relating to its business.  Subject to the covenants set forth in Section 8 herein, The Company will act upon The Client’s behalf in the investment community, with existing shareholders, and the public.  It is expressly agreed and acknowledged that The Company will not be expected to provide investment advice or recommendations regarding AXM to anyone.  The Company will focus on contacting persons, generally through conventional communications in order to familiarize them with information 

concerning AXM.  Additionally, The Company shall be available for advice and counsel to the officers and directors of AXM at such reasonable and convenient times and places as may be mutually agreed upon.  Except as aforesaid, the time, place and manner of performance of the services hereunder, including the amount of time allocated by The Company, shall be determined at the sole discretion of The Company.

2.

Payment.  350,000 restricted common shares upon signing. Allocation of additional 150,000 shares at a later date. The shares shall have piggy back registration rights.

3.

Status of Consultant.  The Company shall act as an independent Consultant and not as an agent or employee of The Client and The Company shall make no representation as an agent or employee of The Client.  The Company shall furnish insurance and be responsible for all taxes as an independent Consultant.  The Company shall have no authority to bind The Client or incur other obligations on behalf of The Client.  Likewise, The Client shall have no authority to bind or incur obligations on behalf of The Company.

4.

Sub Contractors.  The Company shall hire sub contractors to assist in the completion of the performance of this agreement. The Company shall be responsible for all payments to any sub contractors.  The Company will provide a written list of sub contractors in advance of any hiring for Client approval.  An initial list of sub contractors is indicated in Schedule A

5.

Disclosure of Material Events.  The Client agrees to promptly disclose to The Company those events/discoveries which are known and/or anticipated that may or conceivably may have an impact on the stock, business operations, future business, or public perception of AXM, as this has material impact on the ability and effectiveness of The Company and service rendered.  It shall be understood that excluded from this disclosure shall be information deemed to be non-public or “inside” information.

6.

Confidentiality Agreement.  In the event The Client discloses information to The Company that The Client considers to be secret, proprietary or non-public and so notifies The Company, The Company agrees to hold said information in confidence.  Proprietary information shall be used by The Company only in connection with services rendered under this Agreement.  Proprietary information shall not be deemed to include information that a) is in or becomes in the public domain without violation of this Agreement by The Client, or b) is rightfully received from a third entity having no obligation to The Client and without violation of the Agreement.  In reciprocal, The Client agrees to hold confidential all trade secrets of and methods employed by The Company in fulfillment of services rendered.

7.

Indemnification.  The Client agrees to indemnify and hold harmless The Company against any losses, claims, damages, liabilities and/or expenses (including any legal or other expenses reasonably incurred in investigating or defending any action or claim in respect thereof) to which The Company may become subject, because of the actions of The Client or its agents.  Likewise, The Company agrees to indemnify and 

hold harmless The Client against any losses, claims, damages, liabilities and/or expenses (including any legal or other expenses reasonably incurred in investigating or defending any action or claim in respect thereof) to which The Client may become subject, because of the actions of The Company or its agents (including the subcontractors listed on Schedule A, as amended from time to time).  The Company is willing and capable of providing services of a “Best Efforts” basis.  Payment by The Client to The Company is irrevocable and irreversible.

8.

The Company’s Responsibilities, Representations and Warranties.  The Company agrees that it will only communicate regarding The Client to licensed brokerage professionals and will not engage in any solicitation of the public with regard to The Client or its securities.  Notwithstanding the foregoing, The Company may provide approved information regarding The Client (i) in response to unsolicited inquiries by The Client’s shareholders; (ii) to valid trade and industry publications, newspapers and periodicals; and (iii) otherwise engage in communications which are normal and customary for an investor relations firm and which do not involve solicitation of investors in connection with its role as an investor relations firm for The Client.  The Company further agrees that it will only disclose information specifically provided to it by The Client regarding The Client for dissemination and will keep confidential any information marked as such by The Client.  The Company agrees that it will not make any undisclosed payments to brokers or others and will generally act within the letter and the spirit of U.S. securities laws, rules and regulations at all times.

Neither The Company nor any of its principals is subject to any sanction or restriction imposed by the SEC, the NASD, any state securities commission or department, or any other regulatory or governmental body or agency, which would prohibit, limit or curtail The Company’s execution of this Agreement or the performance of its obligations hereunder.  Likewise, neither The Company nor any of its principals is aware of any action or contemplated action by any regulatory or governmental body or agency that may in the future limit or curtail The Company’s execution of this Agreement or the performance of its obligations hereunder.

The Company shall provide a detailed written report regarding its activities to The Client on a quarterly basis.  Such written report shall contain a written affirmation from The Company that it is in compliance with the terms of this Agreement on the date of such report.

9.

Conflict of Interest. The Company shall be free to perform services for other persons.  The Company will notify The Client of its performance of consulting services for any other Client that could conflict with its obligations under this agreement.

10.

Severability.  This agreement may be dissolved at any time at the express consent of both parties.  In the event any part of this agreement shall be held to be invalid by any competent court or arbitration panel, this agreement shall be interpreted as if only that part is invalid and that the parties to this agreement will continue to execute the rest 

of this agreement to the best of their abilities unless both parties mutually consent to the dissolution of this agreement.

This agreement shall be interpreted in accordance with the laws of the State of Washington.  This agreement and attached schedules constitutes the entire contract of the parties with respect to the matters addressed herein and no modifications of this agreement shall be enforceable unless in writing signed by both The Company and The Client.  This agreement is not assignable by either party without the consent of the other.  

In witness whereof The Company and The Client have caused this agreement to be executed on the date.

AXM Pharma, Inc.

Authorized person  x­­­­­­­­­­­­­­­­­­­­­­­­­­­­­__________________________  Title­­­­­­__________________ Date________

I hereby certify that I agree to the terms of the contract above and am authorized to enter into a binding contract.

Madden Consulting, Inc.

Authorized person  x­­­­­­­­­­­­­­­­­­­­­­­­­­­­­__________________________  Title­­­­­­__________________ Date________

I hereby certify that I agree to the terms of the contract above and am authorized to enter into a binding contract.

Schedule A

RBW, Inc.- 

Robert Wheat – President- 

8895 Town Centre Drive  Ste 105

San Diego, CA  92122

 

 

Blackcat Consulting, Inc

Adam Brosius

104 Warner Way

Newton, PA  18940

 

Hope Capital- 

Curt Kramer- 

505 N Blvd.

Great Neck, NY  11021

 

Chesapeake-

Kevin Holmes

40 W Chesapeake Ave.  #300

Towson, MD  21204

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