Document:

Exhibit 10.1

 

SETTLEMENT
AGREEMENT AND MUTUAL GENERAL RELEASE

 

This Settlement Agreement
and Release (“Agreement”) is entered into by and between Skyline Medical Inc., a Minnesota Corporation (formerly known
as BioDrain Medical, Inc., a Minnesota Corporation) (“BioDrain”), and all persons and entities claiming by or through
BioDrain, on the one hand, and Kevin Davidson (“Davidson”), and all persons and entities claiming by or through Davidson,
on the other hand. BioDrain and Davidson collectively are referred herein as “Settling Parties” or, singularly, as
“Settling Party,” as appropriate from the context.

 

Recitals

 

WHEREAS:

 

A. In or about
April 2012, a dispute arose between the Settling Parties regarding what, if any, amount was owed by one Settling Party to the other
arising from Davidson’s employment with BioDrain;

 

B. As part of the
dispute, Davidson alleged that he is entitled to reimbursement of back-wages and unused vacation time, and severance pay;

 

C. As part of the
dispute, BioDrain alleged that it is entitled to reimbursement of over-payment of wages to Davidson and the return of BioDrain
property;

 

D. Effective September
14, 2012, the Settling Parties signed a Settlement Agreement and Mutual General Release (the “Prior Agreement”);

 

E. In or about
June of 2013, a dispute arose between the Settling Parties regarding their respective rights and obligations under the Prior Agreement;

 

F. On or about
July 1, 2013, BioDrain commenced an action against Davidson in Dakota County District Court, State of Minnesota, Court File No.
19HA-CV-13-2967, alleging inter alia that Davidson breached the Prior Agreement (the “Action”);

 

G. On or about
July 2, 2013, Davidson purported to rescind the Prior Agreement, which rescission was disputed by BioDrain;

 

H. The Settling
Parties now wish to settle all outstanding issues between them in accordance with the terms and conditions of this Agreement, without
any admission or acknowledgment of liability by any Settling Party.

 

    	 

    	 

    

 

NOW, THEREFORE, the
Settling Parties hereby agree as follows:

 

Terms, Covenants and Releases

 

1.Consideration.
In consideration for the releases and other consideration set forth in this Agreement, including without limitation Davidson’s
agreements in Section 8 hereof relating to confidentiality, noncompetition and nonsolicitation:

 

		1.1.	BioDrain hereby acknowledges that Davidson is the lawful owner of 50 shares reflected by stock
certificate number 1608-9, received on about August 20, 2012 (the “Existing Shares.”)

 

		1.2.	BioDrain hereby acknowledges that Davidson is the lawful owner of 333,330 shares reflected by stock
certificate number 1853-1, received on about April 25, 2013 upon exercise of a stock option dated August 1, 2011 (the “2011
Option Shares.”)

 

		1.3.	BioDrain hereby acknowledges that Mr. Davidson is entitled to exercise options under the Option
Agreement dated as of June 5, 2008 attached hereto at Exhibit A (the “2008 Option Agreement”), pursuant to all terms
and conditions stated therein, except as modified as follows (a) the 2008 Option Agreement shall be deemed to entitle Davidson
to purchase 325,187 shares (the “2008 Option Shares”) at an exercise price of $.0167 (after adjustment for stock splits
that occurred in 2008 relating to BioDrain common stock), and subject to any further stock splits which might occur prior to exercise,
and (b) Davidson may exercise the 2008 Option Agreement on or before December 31, 2013, after which date Davidson will have no
further rights to exercise the 2008 Option.

 

		1.4.	Notwithstanding anything to the contrary in this Agreement, Mr. Davidson will not sell more than
50,000 shares of BioDrain stock (including without limitation the Existing Shares, the 2011 Option Shares and the 2008 Option Shares)
during any calendar week (Monday through Sunday.)

 

		1.5.	Notwithstanding anything to the contrary in the Prior Agreement, BioDrain shall not be required
to issue and deliver to Davidson the four (4) warrants for 800,000 shares (collectively, the “Warrants”) described
in Section 2.1 of the Prior Agreement, and Davidson hereby fully and permanently disclaims any right to such Warrants.

 

		1.6.	Notwithstanding anything to the contrary in the Prior Agreement, BioDrain shall not be required
to issue and deliver to Davidson right, title and interest in and to the laptop computer described in Section 2.2 of the Prior
Agreement, and Davidson hereby fully and permanently disclaims any right to such laptop computer.

 

    	 

    	 

    

 

		1.7.	Notwithstanding anything in the Prior Agreement to the contrary, Davidson acknowledges and agrees
that he owns no other BioDrain shares and has no rights with respect to BioDrain shares, except as set forth in Sections 1.1, 1.2,
and 1.3 above, and that he has no rights of any kind to any other BioDrain shares, vested or unvested, pursuant to the 2008 or
2011 option agreements, or any other option or warrant agreement, or any other source, except as expressly set forth in Sections
1.1, 1.2 and 1.3 above.

 

		1.8.	Simultaneously with the execution of this Agreement by BioDrain, the Parties will enter into a
Consent Judgment and Stipulated Order of Dismissal in the form attached hereto as Exhibit B and file it with the Court. Thereafter,
the Parties shall encourage the Court to approve and enter the Consent Judgment and Stipulated Order of Dismissal in the form attached
hereto and reasonably cooperate with one another to effectuate the same.

 

		1.9.	Following entry of the Consent Judgment and Stipulated Order of Dismissal, BioDrain shall pay to
Mr. Davidson the sum of twenty thousand dollars ($20,000.00). Payment shall be as follows: The payment will be by certified check
made payable to "Kevin Davidson" delivered to the office of Mr. Davidson's legal counsel, Trepanier & MacGillis P.A.,
8000 Flour Exchange Building, 310 Fourth Avenue South, Minneapolis, Minnesota 55415 (the "Settlement Payment") on the
following schedule: 1) $10,000 within seven (7) calendar days following entry of the Consent Judgment and Stipulated Order of Dismissal,
and 2) $10,000 within thirty (30) calendar days following the first payment.

 

		1.10.	This Agreement will not become effective unless and until: (a) all parties listed in the signature
block below have signed this Agreement and (b) the Consent Judgment and Stipulated Order of Dismissal have been entered as provided
in Section 1.8 above substantially in the form attached hereto as Exhibit B.

 

2.Investment
Representation.

 

2.1.Davidson (i)
understands that the 2008 and 2011 Options, and the shares of the Common Stock for which the Options were or are exercisable, are
characterized as “restricted securities” under the federal securities laws since such securities are being acquired
from BioDrain in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities
may be resold without registration under the Act only in certain limited circumstances and (ii) represents that he is familiar
with Rule 144 promulgated under the Act, as presently in effect, and understands the resale limitations imposed thereby and by
the Act; and

 

    	 

    	 

    

 

2.2.At no time was
any oral representation made to Davidson relating to the Options, the Existing Shares, or the Shares which he obtained pursuant
to the Options, nor was Davidson presented with or solicited by any leaflet, public or promotional material, newspaper or magazine
article, radio or television advertisement or any other form of general advertisement relating to the Options, the Existing Shares,
or Shares issued pursuant thereto.

 

3.Limitations
on Disposition. 

 

3.1.Transfers.
Davidson agrees not to transfer the shares of Common Stock issued or issuable upon Davidson’s exercise of the Options (the
“Option Shares”), except in accordance with the express terms of this Section 3 and unless the proposed transferee
(a) is not a direct or indirect competitor of BioDrain and (b) agrees with BioDrain in writing to be bound by the terms and conditions
of Section 3 of this Agreement. Any attempted transfer in violation of this Section 3 shall be void and of no effect.

 

3.2.Compliance
with Securities Law. Without in any way limiting the representations set forth above, Davidson further agrees not to make any
disposition of all or any portion of the 2008 or 2011 Option Shares, except in compliance with applicable state securities laws
and unless and until:

 

3.2.1.there is
then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance
with such registration statement;

 

3.2.2.such disposition
is made in accordance with Rule 144 promulgated under the Act; or

 

3.2.3.Davidson
shall have (i) notified BioDrain of the proposed disposition, (ii) furnished BioDrain with a statement of the circumstances surrounding
the proposed disposition and (iii) if requested by BioDrain, Davidson shall have furnished BioDrain with an opinion of counsel,
acceptable to BioDrain, to the effect that such disposition will not require registration under the Act and will be in compliance
with applicable state securities laws.

 

3.3.Stock Certificate
Legend. Davidson understands and acknowledges that each certificate evidencing the Option Shares (or evidencing any other securities
issued with respect thereto pursuant to any stock split, stock dividend, merger or other form of reorganization or recapitalization)
shall bear, in addition to any other legends which may be required by applicable state securities law, the following legend:

 

THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“ACT”), NOR HAVE THEY BEEN REGISTERED OR QUALIFIED
UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER OF SUCH SECURITIES WILL BE PERMITTED UNLESS A REGISTRATION STATEMENT UNDER
THE ACT IS IN EFFECT AS TO SUCH SECURITIES, THE TRANSFER IS MADE IN ACCORDANCE WITH RULE 144 PROMULGATED UNDER THE ACT, OR, IN
THE OPINION OF COUNSEL, REGISTRATION UNDER THE ACT IS UNNECESSARY IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT AND WITH APPLICABLE
STATE SECURITIES LAWS.

 

    	 

    	 

    

 

4.Mutual
General Releases. 

 

4.1.Subject to Subsection
4.3 of this Section, BioDrain, Atlantic Partners Alliance LLC, SOK Partners LLC, Joshua Kornberg, and Dr. Samuel Herschkowitz,
for and on behalf of themselves and their respective past, present, future and former directors, officers, shareholders, members,
owners, affiliates, assigns, associates, partners, licensees, employees, insurers, attorneys, and all persons or entities claiming
or acting by, through, or in concert with them or any of them (the “BioDrain Releasors”), shall, and do, hereby, collectively
and individually, release and forever discharge Davidson, and each of Davidson’s past, present, and future partners, associates,
spouses, insurers, and attorneys, and all persons or entities claiming or acting by, through, or in concert with them, of and from
any and all actions, causes of action, claims for relief, suits, obligations, debts, liens, contracts, promises, liabilities, injuries
to person or property, claims, predicate acts, demands, damages, losses, costs, attorneys fees, or expenses, fixed or contingent,
direct or indirect, in law or in equity, whether or not they arise out of or are related to the Action (“Claims”).
The BioDrain Releasors acknowledge and agree that this release is a general and unconditional release and that the BioDrain Releasors
do not reserve any rights whatsoever against Davidson or the other released parties enumerated above, except to the extent those
rights are created expressly by this Agreement.

 

4.2.Subject to Subsection
4.3 of this Section, Davidson, for and on behalf of Davidson and Davidson’s past, present, and future partners, associates,
spouses, insurers, or attorneys, and all persons or entities claiming or acting by, through, or in concert with them, shall, and
do, hereby, collectively and individually, release and forever discharge BioDrain, Atlantic Partners Alliance LLC, SOK Partners
LLC, Joshua Kornberg, and Dr. Samuel Herschkowitz, and each of their respective present, future and former directors, officers,
shareholders, affiliates, assigns, associates, partners, licensees, employees, insurers, attorneys, and all persons or entities
claiming or acting by, through, or in concert with them or any of them, of and from any and all Claims, whether or not they arise
out of or are related to the Action. Further, Davidson is releasing all claims related to his employment with BioDrain including:
all claims for discrimination and retaliation under any applicable federal, state, or local law, including, for example, rights
and claims of discrimination and retaliation under the Minnesota Human Rights Act (“MHRA”), the St. Paul Human Rights
Ordinance (“SPHRO”), the Minneapolis Civil Rights Ordinance (“MCRO”), the Age Discrimination in Employment
Act (“ADEA”), the Older Workers Benefits Protection Act (“OWBPA”); the Americans with Disabilities Act,
and Title VII of the Civil Rights Act of 1964 (“Title VII”); any claim for: breach of contract; wrongful termination;
illegal termination; constructive discharge; termination in violation of public policy; breach of an implied contract; promissory
estoppel; defamation; invasion of privacy; fraud; retaliation; and infliction of emotional distress; .all claims for any other
unlawful employment practices arising out of or relating to Davidson’s employment or Davidson’s separation from employment;
and all claims for any other form of employment compensation not provided in this Agreement (“Employment Claims”).
Davidson acknowledges and agrees that Davidson’s release is a general and unconditional release and that Davidson does not
reserve any rights whatsoever against BioDrain or the other released parties enumerated above, except to the extent those rights
are created expressly by this Agreement. This Agreement does not prohibit Davidson from filing an administrative complaint, or
an administrative charge of discrimination with, or cooperating or participating in an investigation or proceeding conducted by,
the Equal Employment Opportunity Commission or other federal, local or state regulatory or law enforcement agency. If Davidson
has filed or files a charge or complaint, Davidson agrees that the consideration that Davidson is receiving in this Agreement completely
satisfies any and all claims in connection with such charge or complaint, and that Davidson is not entitled to any other monetary
relief of any kind with respect to the Claims and Employment Claims that Davidson has waived in this Agreement. The foregoing release
in this Section 4.2 shall not release or discharge Davidson’s rights or claim to ownership of BioDrain stock described in
Sections 1.1 and 1.2 above or his rights under the stock options described in Section 1.3 above.

 

    	 

    	 

    

 

4.3.The foregoing
releases in Subsections 4.1 and 4.2 of this Section shall not release or discharge any claims for relief based upon or arising
out of a breach by any Settling Party of any of the obligations undertaken in or made under
this Agreement. Nothing in this Agreement shall be deemed to release any claims for relief by any Settling Party that arise out
of this Agreement, including, but not limited to, any claims for non-performance or breach of any Settling Party of any of the
terms and conditions contained in this Agreement. Nothing in this Agreement releases Mr. Davidson’s claim to ownership of
BioDrain stock described in paragraphs 1.1 and 1.2 above or his rights under the stock options described in paragraph 1.3 above.

 

5.Rights
to Counsel, Consider, Revoke, and Rescind

 

5.1.Davidson understands
that BioDrain hereby advises Davidson to consult with an attorney prior to signing this Agreement and Davidson acknowledges that
he has done so.

 

6.Risk of
Discovery of New Facts. 

 

6.1.Each
Settling Party assumes the full risk of discovery of new or more complete understanding of any fact or law pertaining to the Claims
or Employment Claims that, if presently known, would have affected this Agreement,
the decision of that Settling Party to enter into this Agreement, or that Settling Party’s execution of the Agreement. Each
Settling Party understands that there is a risk that after the execution of this Agreement, facts different from, or in addition
to, those facts now known, or believed to be true, may be discovered. Notwithstanding this, each Settling Party freely and knowingly
enters into this Agreement.

 

    	 

    	 

    

 

6.2.It is the intent
of each Settling Party to this Agreement to release all Claims and Employment Claims that such Settling Party has against the other
Settling Party as provided in Sections 4.1, 4.2 and 4.3, whether such Claims and Employment Claims are known or unknown, with the
exception of claims arising from this Agreement. Each Settling Party hereby acknowledges that there is a risk that, subsequent
to the execution of this Agreement, such Settling Party may discover, incur or suffer from Claims or Employment Claims, which were
unknown or unanticipated at the time this Agreement was executed. Each Settling Party acknowledges that such Settling Party is
assuming the risk of such unanticipated Claims and Employment Claims, and agrees that this Agreement applies thereto.

 

7.Costs and
Fees. The Settling Parties shall bear their own fees and/or costs incurred prior hereto in connection with any of their
disputes or with this Agreement.

 

8.Agreements
of Davidson Relating to Confidentiality, Noncompetition and Nonsolicitation. Davidson also hereby agrees as follows:

 

8.1.As
used in this Agreement, “Confidential Information” includes, without limitation, all patterns, compilations, programs,
and know how; designs, processes or formulae; software; market or sales information or plans, devices, methods, concepts, techniques,
processes, source codes, data capture innovations, algorithms, user interface designs and database designs relating to the Company’s
products, services, systems or business; information acquired or compiled by the Company concerning actual or potential clients/customers,
suppliers and business partners, including their identities, financial information concerning their actual or prospective business
operations, identity and quantity of services and/or products provided by the Company, and any unpublished written materials furnished
by or about them to the Company; and information concerning the Company’s ownership, management, financial condition, financial
operations, business activities or practices, sales activities, marketing activities or plans, research and development, pricing
practices, legal matters, and strategic business plans. Notwithstanding the foregoing, Confidential Information does not include
information in the public domain or generally known in the industry (unless due to breach of Davidson’s duties under Section
8.2) or readily ascertainable from publicly available sources. 

 

8.2.Davidson understands
and agrees that his prior employment has created a relationship of confidence and trust between him and the Company with respect
to all Confidential Information. Davidson represents and warrants that at all times, Davidson has kept, and will continue to keep
in confidence and trust, all such Confidential Information, and has not and will not use or disclose any such Confidential Information
without the written consent of the Company, except as may be required by law or legal process. Davidson agrees to take reasonable
security measures to prevent accidental or unauthorized disclosure of Confidential Information.

 

8.3.Except as
explicitly provided in this Agreement, Davidson has returned and has not retained any documents, records, data, apparatus, equipment
or other physical property, whether or not pertaining to Confidential Information, which were furnished to Davidson by the Company
or were produced by Davidson in connection with his employment.

 

    	 

    	 

    

 

8.4.Davidson represents
and warrants that he has fully complied with the post-employment restrictions contained in Section 8.4 of the Prior Agreement.

 

8.5.Davidson
agrees that it could be difficult to measure any damages caused to the Company which might result from any breach by him of the
representations or promises set forth in this Section 8, and that in any event money damages could be an inadequate remedy for
any such breach. Accordingly, Davidson agrees that if he breaches, or proposes to breach, any portion of this Section 8, the Company
shall be entitled, in addition to all other remedies that it may have, to seek an injunction or other appropriate equitable relief
to restrain any such breach.

 

9.No Reliance
on Representations Not Set Forth in this Agreement; Independent Judgment; Representations and Warranties; and Binding Effect of
this Agreement.

 

9.1.Each Settling
Party acknowledges that at no time has any individual or entity made any representations, promises, or statements (whether oral
or written) regarding the meaning, scope, benefits or obligations arising from this Agreement, except as set forth in this Agreement.
Each Settling Party warrants and represents that it has not been induced to enter into this Agreement on the basis of any other
representations, promises, or statements (whether oral or written) made by any Settling Party at any time, except representations
set forth in this Agreement.

 

9.2.Each Settling
Party declares and represents that such Settling Party has made such investigation of the facts relating to the matters addressed
in this Agreement, as that Settling Party deems necessary. Each Settling Party further represents and warrants that in executing
this Agreement that Settling Party is relying solely on such Settling Party’s own judgment, belief, and knowledge and upon
the advice and recommendation of that Settling Party’s counsel concerning the nature, extent, and duration of such Settling
Party’s rights and obligations deriving from this Agreement.

 

9.3.Settling Party
hereby represents and warrants that such Settling Party now holds all right, title to, and interest in any Claim or Employment
Claim released by such Settling Party hereunder, and that such Settling Party has not assigned or otherwise transferred any right,
title or interest in its Claims or Employment Claims released herein. Each Settling Party hereby covenants that it shall not assign
or otherwise transfer any right, title, or interest in any Claims or Employment Claims released herein. Each Settling Party further
represents and warrants that, with the exception of claims in the Action, such Settling Party is unaware of any other claims or
lawsuits arising out of the facts that are the subject of the Action or that are described in the Recitals.

 

9.4.This Agreement
and each provision thereof shall be binding upon, and inure to the benefit of, each Settling Party and such Settling Party’s
respective executors, administrators, representatives, successors, agents, and assigns.

 

    	 

    	 

    

 

10.Confidentiality
of this Agreement. Each Settling Party agrees that this Agreement and any and all discussions constituting or concerning
the negotiations leading to the Agreement shall be regarded as confidential and privileged communications between the parties,
and that neither they, nor their counsel, will reveal or disclose such discussions or this Agreement to any other person, except
as required by law, regulation or legal process, as necessary to enforce or comply with the terms of this Agreement, and Davidson
may disclose such information to his spouse on the condition that she agrees to be bound by this confidentiality provision.

 

11.Authorization
and Cooperation. Each Settling Party hereby represents and warrants that such Settling Party has the requisite power and
authority, and each has taken all actions necessary, including obtaining the approval of BioDrain’s board of directors (in
the case of BioDrain), to execute and deliver this Agreement, to consummate the transactions contemplated hereby and to perform
each of that Settling Party’s obligations hereunder, and no other proceedings on such Settling Party’s part are necessary
to authorize this Agreement. If any additional acts are required to consummate the transactions contemplated hereby and/or to perform
any Settling Party’s obligations hereunder, each Settling Party covenants in good faith promptly to perform such additional
acts, and to execute and deliver any documents that may be reasonably necessary to give effect to the terms of this Agreement.

 

12.Governing
Law/Venue. The Agreement shall be construed and governed in accordance with the laws of the State of Minnesota, without
regard to its rules regarding conflicts of laws, and of the United States of America. Any action or proceeding brought by any Settling
Party to enforce this Agreement must be brought, heard and decided only in the County of Dakota, Minnesota, and the Settling Parties
hereby waive any objections they may otherwise have to personal jurisdiction or venue in said courts. In the event of a dispute
hereunder, the prevailing party shall be entitled to an award of reasonable attorney’s fees and costs.

 

13.Interpretation.
The Agreement shall be interpreted simply and fairly and not strictly in favor of or against any Settling Party. To this end, the
Settling Parties agree that the terms of the Agreement are deemed to be the product of an arm’s length negotiation and to
have been jointly drafted.

 

14.Time of
the Essence. Time is of the essence for all provisions of this Agreement.

 

15.Modification.
Any amendment, supplement or modification of any term or condition of the Agreement must be in writing and signed by the Settling
Party or Settling Parties to be bound and charged.

 

16.Headings.
This Agreement uses headings for convenience and ready reference only. Such headings are not part of the terms hereof, and are
not to be used or construed to define, limit, extend, modify or otherwise alter the terms and scope of this Agreement.

 

    	 

    	 

    

 

17.Execution
in Counterparts. This Agreement may be executed and delivered in counterparts by the Settling Parties which, when taken
together, shall constitute one and the same instrument and this Agreement, when executed by all of the Settling Parties, shall
be binding on each of the Settling Parties, even though each may have executed separate counterparts of this Agreement. Facsimile
or emailed signatures shall be deemed as effective as original signatures for all purposes, but originals shall be provided by
each Settling Party to the other Settling Parties.

 

18.Entire
Agreement. This Agreement, the certificates reflecting the Existing Shares and the 2011 Option Shares, and the 2008 Option
Agreement, as modified in this Agreement, constitute the entire agreement between the Settling Parties, are fully integrated, and
supersede all other prior and contemporaneous oral and written agreements, negotiations, representations, understandings, and discussions
of the Settling Parties, including the Prior Agreement. In entering the Agreement, no Settling Party is relying upon any promises,
warranties, representations, facts, definitions, or inducements not specifically set forth in this Agreement.

 

PLEASE
READ THIS DOCUMENT CAREFULLY. IT CONTAINS A GENERAL RELEASE OF CLAIMS AND EMPLOYMENT CLAIMS KNOWN AND UNKNOWN.

 

IN WITNESS WHEREOF,
the Settling Parties have executed and delivered this Agreement.

 

THE UNDERSIGNED HAVE
EACH READ THE FOREGOING AGREEMENT AND AGREE TO ITS TERMS AND CONDITIONS.

 

[SIGNATURES ON FOLLOWING PAGE]

 

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BLANK]

 

    	 

    	 

    

 

	Dated:  	September 15, 2013	Skyline Medical Inc. formerly known as
	 	 	 	BioDrain Medical, Inc.
	 	 	 	 
	 	 	 	Signed: /s/ Joshua Kornberg
	 	 	 	By: Joshua Kornberg
	 	 	 	Its: Chief Executive Officer
	 	 	 	 
	Dated:	September 11, 2013	Atlantic Partners Alliance LLC
	 	 	 	 
	 	 	 	Signed: /s/ Samuel Herschkowitz
	 	 	 	By: ______________________________
	 	 	 	Its: ______________________________
	 	 	 	 
	Dated:	September 15, 2013	SOK Partners LLC
	 	 	 	 
	 	 	 	Signed: /s/Joshua Kornberg
	 	 	 	By: ______________________________
	 	 	 	Its:                                                                    
	 	 	 	 
	Dated:	September 15, 2013	 	Joshua Kornberg
	 	 	 	Signed: /s/ Joshua Kornberg
	 	 	 	 
	Dated:	September 11, 2013	 	Dr. Samuel Herschkowitz
	 	 	 	Signed: /s/ Samuel Herschkowitz
	 	 	 	 
	Dated:	September 12, 2013	 	Kevin Davidson
	 	 	 	Signed: /s/ Kevin DavidsonEXHIBIT 10.3

 

Contract for Services, dated October
8, 2013, between the Company’s subsidiary, AbTech Industries, Inc., and

Nassau County, a municipal corporation acting on
behalf of the County Department of Public Works.

 

 

    	 

    	 

    

 

CONTRACT FOR SERVICES

 

THIS AGREEMENT (together
with the schedules, appendices, attachments and exhibits, if any, this “Agreement”), dated as of the date this
Agreement is executed by the County of Nassau, between (i) Nassau County, a municipal corporation having its principal office at
One West Street, Mineola, New York 11501 (the “County”) acting on behalf of the County Department of Public
Works, having its principal office at 1194 Prospect Avenue, Westbury, New York 11590 (the “Department”) and
(ii) AbTech Industries, Inc., a consulting engineering firm, having its principal office at 4110 N. Scottsdale Road, Scottsdale
Arizona 85251 (the “Firm” or the “Contractor”).

 

WITNESSETH:

 

WHEREAS, the County
desires to hire the Firm to perform the services described in this Agreement;

 

WHEREAS, this is a
personal service contract within the intent and purview of Section 2206 of the County Charter; and,

 

WHEREAS, the Firm desires
to perform the services described in this Agreement.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants contained in this Agreement, the parties agree as follows:

 

1.           
Term. The term of this Agreement shall commence upon full execution of this Agreement by the parties (the “Commencement
Date”) and terminate three (3) years from commencement date (“Expiration Date”), unless sooner terminated
or extended in accordance with its terms. Notwithstanding the foregoing, the Department, in its sole discretion, shall have the
right to extend this Agreement for a period of up to one (1) year by delivering a notice of extension to the Firm at least thirty
(30) days prior to the Expiration Date. The Agreement so extended shall be on the same terms, conditions and covenants as during
the initial term except that the Expiration Date shall be modified in accordance with the notice of extension.

 

2.           
Services, Extra Services and Reimbursable Expenses.

 

(a)         
The services to be provided by the Firm under this Agreement are engineering, design, maintenance and inspection services
(“Services”) and installation services (“Construction”). The County is seeking approval to
award this contract as a design build contract. When such approval is received the County will proceed with the Construction. Such
Services shall include, but not be limited to the selection of sites, technology, design, operation and maintenance of stormwater
treatment technology, shall consist of those specific work divisions and deliverables related to this project as more particularly
described in the “Detailed Scope of Services,” attached hereto and hereby made a part hereof as Exhibit “A”
and Construction described in Exhibit “A1”.

 

    	 

    	 

    

 

(b)         
At any time during the term of this Agreement, the County may, in its sole and absolute discretion, require the Contractor
to perform Extra Services. The Contractor shall not perform, nor be compensated for, Extra Services without the prior written approval
of the Commissioner. The Contractor agrees to perform any such Extra Services in accordance with the terms and conditions contained
in this Agreement. As used herein, “Extra Services” means additional services which are (i) generally within the scope
of services set forth in this Agreement, (ii) necessary or in furtherance of the goals of this Agreement and (iii) not dire to
the fault or negligence of the Contractor.

 

(c)         
The following items are not included in the Firm’s fee, and shall be reimbursable at an actual cost as expenditures
in the interest of the project provided (i) they have been approved in advance by the Commissioner of the Department in writing,
in his/her sole discretion, (ii) are not considered services as set forth in this Agreement, and (iii) subject to compliance with
the County’s bill paying procedures:

 

(1)         
The direct cost of expenses for travel, including transportation (coach unless otherwise authorized by the County), reasonable
meal and lodging expenses, at rates established by the General Service Administration (GSA).

 

(2)         
Testing Laboratory Services.

 

(3)         
Messenger service and cables as not necessarily incurred in the performance of services hereunder by the Firm and
their sub-consultants.

 

(4)         
Final models, photographs and renderings as requested by the County.

 

(5)         
Reproduction of design development and construction document drawings, specification, reports and other documents furnished
to, or on behalf of, the County in excess of five (5) copies each. Any items prepared on behalf of the Firm or their sub-consultants
shall not be paid for by the County.

 

(6)         
Other comparable expenses as approved by the County.

 

(d)         
Prior to the Notice to Proceed for Construction the County and Firm will modify the terms of this Agreement to include any
and all provisions applicable and required by New York State Law for municipal construction, any and all construction guidelines
and requirements of the Department.

 

3.           
Payment.

 

(a)         
Amount of Consideration. The amount to be paid to the Firm as full consideration for the Firm’s services under
this Agreement, including any Extra Services that may be so authorized, shall be payable as set forth in the “Payment Schedule,”
attached hereto and made a hereby part hereof as Exhibit “B”. Notwithstanding the foregoing, the maximum amount to
be paid to the Firm for the Firm’s services under this Agreement shall not exceed twelve million ($12,000,000) dollars.

 

    	 

    	 

    

 

(b)         
Vouchers; Voucher Review, Approval and Audit. Payments shall be made to the Firm in arrears and shall be contingent
upon (i) the Firm submitting a claim voucher (the “Voucher”) in a form satisfactory to the County, that (a)
states with reasonable specificity the services provided and the payment requested as consideration for such services, (b) certifies
that the services rendered and the payment requested are in accordance with this Agreement, and (c) is accompanied by documentation
satisfactory to the County supporting the amount claimed, and (ii) review, approval and audit of the Voucher by the Department
and/or the County Comptroller or his or her duly designated representative (the “Comptroller”).

 

(c)         
Timing of Claims for Payment. The Firm shall submit claims no later than three (3) months following the County’s
receipt of the services that are the subject of the claim and no more frequently than once a month.

 

(d)         
No Duplication of Payments. Payments under this Agreement shall not duplicate payments for any work performed or
to be performed under other agreements between the Firm and any funding source including the County.

 

(e)         
Payments in Connection with Termination or Notice of Termination. Unless a provision of this Agreement expressly
states otherwise, payments to the Firm following the termination of this Agreement shall not exceed payments made as consideration
for services that were (i) performed prior to termination, (ii) authorized by this Agreement to be performed, and (iii) not performed
after the Firm received notice that the County did not desire to receive such services.

 

(f)          
Payments Relating to Services Rendered by Subcontractors. The County retains the right, but not the obligation, prior
to making any payment to the Contractor, to demand that the Contractor furnish to the County, proof acceptable to the County, in
its sole and absolute discretion, that all due and payable claims made by subcontractors in connection with this Agreement have
been paid to date or are included in the amount being requested by the Contractor.

 

4.           
Ownership and Control of Work Product.

 

(a)         
Copyrights.

 

(i)           
Upon execution of this Agreement, any reports, documents, data, photographs and/or other materials produced pursuant to
this Agreement, and any and all drafts and/or other preliminary materials in any format related to such items, shall become the
exclusive property of the County.

 

(ii)         
Any reports, documents, data, photographs and/or other materials produced pursuant to this Agreement (“Copyrightable
Materials”) shall be considered “work-made-for-hire” within the meaning and purview of Section 101 of the
United States Copyright Act, 17 U.S.C. §101, and the County shall be the copyright owner thereof and of all aspects, elements
and components thereof in which copyright protection might exist. To the extent that the Copyrightable Materials do not qualify
as “work-made-for-hire,” the Contractor hereby irrevocably transfers, assigns and conveys exclusive copyright ownership
in and to the Copyrightable Materials to the County, free and clear of any liens, claims, or other encumbrances. The Contractor
shall retain no copyright or intellectual property interest in the Copyrightable Materials, and they shall be used by the Contractor
for no other purpose without the prior written permission of the County. Notwithstanding anything herein to the contrary, the parties
agree that Contractor shall be permitted to use the Copyrightable Materials (and any Information contained therein which is developed
by Contractor) for the limited purpose of creating various reports, case studies, promotional materials and/or proposals, which
may be provided to third parties.

 

    	 

    	 

    

 

(iii)        
The Contractor acknowledges that the County may, in its sole discretion, register copyright in the Copyrightable Materials
with the U.S. Copyright Office or any other government agency authorized to grant copyright registrations. The Contractor shall
cooperate in this effort, and agrees to provide any further documentation necessary to accomplish this.

 

(iv)        
The Contractor represents and warrants that the Copyrightable Materials: (1) are wholly original material not published
elsewhere (except for material that is in the public domain); (2) do not violate any copyright law; (3) do not constitute defamation
or invasion of the right of privacy or publicity, and (4) are not an infringement of any kind, of the rights of any third party.
To the extent that the Copyrightable Materials incorporate any non-original material, the Contractor has obtained all necessary
permissions and clearances, in writing, for the use of such non-original material under this Agreement, copies of which shall be
provided to the County upon execution of this Agreement.

 

(b)         
Patents and Inventions. Any discovery or invention arising out of or developed in the course of performance of this
Agreement shall be promptly and fully reported to the Department, and if this work is supported by a federal grant of funds, shall
be promptly and fully reported to the Federal Government for determination as to whether patent protection on such invention shall
be sought and how the rights in the invention or discovery, including rights under any patent issued thereon, shall be disposed
of and administered in order to protect the public interest.

 

(c)         
Pre-existing Rights. In no case shall 4(a) or 4(b) above apply to, or prevent the Contractor from asserting or protecting
its rights in any report, document or other data, or any invention which existed prior to or was developed or discovered independently
from the activities directly related to this Agreement.

 

(d)         
Infringements of Patents, Trademarks, and Copyrights. The Contractor shall indemnify and hold the County harmless
against any claim for any infringement by the Contractor of any copyright, trade secrets, trademark or patent rights of design,
systems, drawings, graphs, charts, specifications or printed matter furnished or used by the Contractor in the performance of this
Agreement. The Contractor shall indemnify and hold the County harmless regardless of whether or not the infringement arises out
of compliance with the scope of services/scope of work.

 

    	 

    	 

    

 

(e)         
Antitrust. The Contractor hereby assigns, sells, and transfers to the County all right, title and interest in and
to any claims and causes of action arising under the antitrust laws of the State of New York or of the United States relating to
the particular goods or services procured by the County under this Agreement.

 

5.           
Independent Contractor. The Firm is an independent contractor of the County. The Firm shall not, nor shall any officer,
director, employee, servant, agent or independent contractor of the Firm (a “Contractor Agent”), be (i) deemed
a County employee, (ii) commit the County to any obligation, or (iii) hold itself, himself, or herself out as a County employee
or Person with the authority to commit the County to any obligation. As used in this Agreement the word “Person”
means any individual person, entity (including partnerships, corporations and limited liability companies), and government or political
subdivision thereof (including agencies, bureaus, offices and departments thereof).

 

6.           
No Arrears or Default. The Firm is not in arrears to the County upon any debt or contract and it is not in default
as surety, contractor, or otherwise upon any obligation to the County, including any obligation to pay taxes to, or perform services
for or on behalf of, the County.

 

7.           
Compliance With Law.

 

(a)         
Generally. The Firm shall comply with any and all applicable Federal, State and local Laws, including, but not limited
to those relating to conflicts of interest, discrimination, a living wage, disclosure of information and vendor registration, in
connection with its performance under this Agreement. In furtherance of the foregoing, the Firm is bound by and shall comply with
the terms of Appendices L and EE attached hereto and with the County’s vendor registration protocol. As used in this Agreement
the word “Law” includes any and all statutes, local laws, ordinances, rules, regulations, applicable orders, and/or
decrees, as the same may be amended from time to time, enacted, or adopted.

 

(b)         
Nassau County Living Wage Law. Pursuant to LL 1-2006, as amended, and to the extent that a waiver has not been obtained
in accordance with such law or any rules of the County Executive, the Firm agrees as follows:

 

		(i)	Firm shall comply with the applicable requirements of the Living Wage Law, as amended.

 

		(ii)	Failure to comply with the Living Wage Law as amended, constitutes a material breach of this Agreement,
such breach being determined solely by the County. Firm has the right to cure such breach within thirty (30) days of receipt of
notice of breach from the County. In the event that such breach is not timely cured, the County may terminate this Agreement as
well as exercise any other rights available to the County under applicable law.

 

    	 

    	 

    

 

		(iii)	It shall be a continuing obligation of the Firm to inform the County of any material changes in
the content of its certification of compliance and shall provide to the County any information necessary to maintain the certification’s
accuracy.

 

(c)         
Records Access. Subject to Section 4(a)(ii), the parties acknowledge and agree that all records, information, and
data (“Information”) acquired in connection with performance or administration of this Agreement shall be used
and disclosed solely for the purpose of performance and administration of the contract or as required by law. The Firm acknowledges
that Firm Information in the County’s possession may be subject to disclosure under Article 6 of the New York State Public
Officer’s Law (“Freedom of Information Law” or “FOIL”). Inthe event that such a request
for disclosure is made, the County shall make reasonable efforts to notify the Firm of such request prior to disclosure of the
Information so that the Firm may take such action as it deems appropriate.

 

(d)         
Protection of Client Information. Subject to Section 4(a)(ii), the Firm acknowledges and agrees that all confidential
information that the Firm acquires from the County in connection with performance under this Agreement shall be strictly confidential,
used solely for the purpose of performing services to or on behalf of the County, and shall not be disclosed to third parties except
(i) as permitted under this Agreement, (ii) with the written consent of the County (and then only to the extent of the consent),
or (iii) upon legal compulsion. Notwithstanding anything in this Agreement to the contrary, the provisions of Section 7(b) and
(c) will not apply to any Information or other confidential information (a) after it becomes generally known to the public through
no fault of the Firm; (b) that was known to the Firm before being received from the County; (c) that is disclosed to the Firm by
a third party, provided that such disclosure was not in breach of any obligation of confidentiality to the County; (d) that is
at any time independently developed by the Firm; or (e) that is required by law, court order or a governmental agency to be disclosed
(in which case the County shall make reasonable efforts to notify the Firm of such request prior to disclosure of the Information
so that the Firm may take such action as it deems appropriate).

 

8.           
Minimum Service Standards. Regardless of whether required by Law:

 

(a)         
The Firm shall, and shall cause Contractor Agents to, conduct its, his or her activities in connection with this Agreement
so as not to endanger or harm any Person or property.

 

(b)         
 The Firm shall deliver services under this Agreement in a professional manner consistent with the standard and accepted
practices of the industry in which the Firm operates. The Firm shall take all actions necessary or appropriate to meet the obligation
described in the immediately preceding sentence, including obtaining and maintaining, and causing all Contractor Agents to obtain
and maintain, all approvals, licenses, and certifications (“Approvals”) necessary or appropriate in connection
with this Agreement.

 

    	 

    	 

    

 

9.           
Indemnification; Defense; Cooperation.

 

(a)         
The Firm shall be solely responsible for and shall indemnify and hold harmless the County, the Department and its officers,
employees, and agents (the “Indemnified Parties”) from and against any and all liabilities, losses, costs, expenses
(including, without limitation, reasonable attorneys’ fees and disbursements) and damages (“Losses”),
arising out of or in connection with any negligent acts or omissions of the Firm or a Contractor Agent, including Losses in connection
with any threatened investigation, litigation or other proceeding or preparing a defense to or prosecuting the same; provided,
however, that the Firm shall not be responsible for that portion, if any, of a Loss that is caused by the negligence of
the County.

 

(b)         
The Firm shall, upon the County’s demand and at the County’s direction, promptly and diligently defend, at the
Firm’s own risk and expense, any and all suits, actions, or proceedings which may be brought or instituted against one or
more Indemnified Parties for which the Firm is responsible under this Section; and, the Firm shall pay and satisfy any judgment,
decree, loss or settlement in connection therewith.

 

(c)         
The Firm shall, and shall cause Contractor Agents to, cooperate with the County and the Department in connection with the
investigation, defense or prosecution of any action, suit or proceeding in connection with this Agreement, including the acts or
omissions of the Firm and/or a Contractor Agent in connection with this Agreement.

 

(d)         
The provisions of this Section shall survive the termination of this Agreement.

 

10.        
Insurance.

 

(a)         
Types and Amounts. The Firm shall obtain and maintain throughout the term of this Agreement, at its own expense (i)
one or more policies for commercial general liability insurance, which policy(ies) shall name “Nassau County” as an
additional insured and have a minimum single combined limit of liability of not less than one million dollars ($1,000,000) per
claim and two million dollars ($2,000,000) aggregate coverage, (ii) if contracting in whole or part to provide professional services,
one or more policies for professional liability insurance, which policy(ies) shall have a minimum single combined limit liability
of not less than two million dollars ($2,000,000) per claim and four million dollars ($4,000,000) aggregate coverage, (iii) compensation
insurance for the benefit of the Firm’s employees (“Workers’ Compensation Insurance”), which insurance
is in compliance with the New York State Workers’ Compensation Law, and (iv) such additional insurance as the County may
from time to time specify.

 

    	 

    	 

    

 

(b)         
Acceptability Deductibles; Sub-consultants. All insurance obtained and maintained by the Firm pursuant to this .Agreement
shall be (i) written by one or more commercial insurance carriers licensed to do business in New York State and acceptable to the
County and which is (ii) in form and substance acceptable to the County. The Firm shall be solely responsible for the payment of
all deductibles to which such policies are subject. The Firm shall require any sub-consultant hired in connection with this Agreement
to carry insurance with the same limits and provisions required to be carried by the Firm under this Agreement.

 

(c)         
Delivery; Coverage Change; No Inconsistent Action. Prior to the execution of this Agreement, copies of current certificates
of insurance evidencing the insurance coverage required by this Agreement shall be delivered to the Department. Not less than thirty
(30) days prior to the date of any expiration or renewal of, or actual, proposed or threatened reduction or cancellation of coverage
under, any insurance required hereunder, the Firm shall provide written notice to the Department of the same and deliver to the
Department renewal or replacement certificates of insurance. The Firm shall cause all insurance to remain in full force and effect
throughout the term of this Agreement and shall not take or omit to take any action that would suspend or invalidate any of the
required coverage. The failure of the Firm to maintain Workers’ Compensation Insurance shall render this contract void and
of no effect. The failure of the Firm to maintain the other required coverage shall be deemed a material breach of this Agreement
upon which the County reserves the right to consider this Agreement terminated as of the date of such failure.

 

(d)         
Insurance Associated with Construction. Prior to the Notice to Proceed for construction the County and Firm will
modify the terms of this Agreement to include any and all insurance provisions to cover the scope of work included.

 

11.        
Assignment; Amendment; Waiver; Subcontracting. This Agreement and the rights and obligations hereunder may not be
in whole or part (I) assigned, transferred or disposed of, (ii) amended, or (iii) waived, (iv) subcontracted without the prior
written consent of the County Executive or his or her duly designated deputy (the “County Executive”), and any
purported assignment, other disposal or modification without such prior written consent shall be null and void. The failure of
a party to assert any of its rights under this Agreement, including the right to demand strict performance, shall not constitute
a waiver of such rights.

 

12.        
Termination.

 

(a)         
Generally. This Agreement may be terminated (i) for any reason by the County upon thirty (30) days’ written
notice to the Firm, (ii) for “Cause” by the County immediately upon the receipt by the Firm of written notice of termination,
(iii) upon mutual written agreement of the County and the Firm, and (iv) in accordance with any other provisions of this Agreement
expressly addressing termination.

 

As used in this Agreement
the word “Cause” includes: (i) a breach of this Agreement; (ii) the failure to obtain and maintain in full force
and effect all Approvals required for the services described in this Agreement to be legally and professionally rendered; and (iii)
the termination or impending termination of federal or state funding for the services to be provided under this Agreement.

 

    	 

    	 

    

 

(b)         
By the Firm. This Agreement may be terminated by the Firm if performance becomes impracticable through no fault of
the Firm, where the impracticability relates to the Firm’s ability to perform its obligations and not to a judgment as to
convenience or the desirability of continued performance. Termination under this subsection shall be effected by the Firm delivering
to the commissioner or other head of the Department (the “Commissioner”), at least sixty (60) days prior to
the termination date (or a shorter period if sixty (60) days’ notice is impossible), a notice stating (i) that the Firm is
terminating this Agreement in accordance with this subsection, (ii) the date as of which this Agreement will terminate, and (iii)
the facts giving rise to the Firm’s right to terminate under this subsection. A copy of the notice given to the Commissioner
shall be given to the Deputy County Executive who oversees the administration of the Department (the “Applicable DCE”)
on the same day that notice is given to the Commissioner.

 

(c)         
Firm Assistance Upon Termination. In connection with the termination or impending termination of this Agreement the
Firm shall, regardless of the reason for termination, take all actions reasonably requested by the County (including those set
forth in other provisions of this Agreement) to assist the County in transitioning the Firm’s responsibilities under this
Agreement. The provisions of this subsection shall survive the termination of this Agreement.

 

13.        
Accounting Procedures; Records. The Firm shall maintain and retain, for a period of six (6) years following the later
of termination of or final payment under this Agreement, complete and accurate records, documents, accounts and other evidence,
whether maintained electronically or manually (“Records”), pertinent to performance under this Agreement. Records
shall be maintained in accordance with Generally Accepted Accounting Principles and, if the Firm is a non-profit entity, must comply
with the accounting guidelines set forth in the federal Office of Management & Budget Circular A-122, “Cost Principles
for Non-Profit Organizations.” Such Records shall at all times be available for audit and inspection by the Comptroller,
the Department, any other governmental authority with jurisdiction over the provision of services hereunder and/or the payment
therefore, and any of their duly designated representatives. The provisions of this Section shall survive the termination of this
Agreement.

 

14.        
Limitations on Actions and Special Proceedings Against the County. No action or special proceeding shall lie or be
prosecuted or maintained against the County upon any claims arising out of or in connection with this Agreement unless:

 

(a)         
Notice. At least thirty (30) days prior to seeking relief the Firm shall have presented the demand or claim(s) upon
which such action or special proceeding is based in writing to the Applicable DCE for adjustment and the County shall have neglected
or refused to make an adjustment or payment on the demand or claim for thirty (30) days after presentment. The Firm shall send
or deliver copies of the documents presented to the Applicable DCE under this Section to each of (i) the Department and the (ii)
the County Attorney (at the address specified above for the County) on the same day that documents are sent or delivered to the
Applicable DCE. The complaint or necessary moving papers of the Firm shall allege that the above-described actions and inactions
preceded the Firm’s action or special proceeding against the County.

 

    	 

    	 

    

 

(b)         
Time Limitation. Such action or special proceeding is commenced within the earlier, of (i) one (1) year of the first
to occur of (A) final payment under or the termination of this Agreement, and (B) the accrual of the cause of action, and (ii)
the time specified in any other provision of this Agreement.

 

15.        
Work Performance Liability. The Firm is and shall remain .primarily liable for the successful completion of all work
in accordance with this Agreement irrespective of whether the Firm is using a Contractor Agent to perform some or all of the work
contemplated by this Agreement, and irrespective of whether the use of such Contractor Agent has been approved by the County.

 

16.        
Consent to Jurisdiction and Venue; Governing Law. Unless otherwise specified in this Agreement or required by Law;
exclusive original jurisdiction for all claims or actions with respect to this Agreement shall be in the Supreme Court in Nassau
County in New York State and the parties expressly waive any objections to the same on any grounds, including venue and forum
non conveniens, This Agreement is intended as a contract under, and shall be governed and construed in accordance with, the
Laws of New York State, without regard to the conflict of laws provisions thereof.

 

17.        
Notices. Any notice, request, demand or other communication required to be given or made in connection with this
Agreement shall be (a) in writing, (b) delivered or sent (i) by hand delivery, evidenced by a signed, dated receipt, (ii) postage
prepaid via certified mail, return receipt requested, or (iii) overnight delivery via a nationally recognized courier service,
(c) deemed given or made on the date the delivery receipt was signed by a County employee, three (3) business days after it is
mailed or one (1) business day after it is released to a courier service, as applicable, and (d)(i) if to the Department, to the
attention of the Commissioner at the address specified above for the Department, (ii) if to an Applicable DCE, to the attention
of the Applicable DCE (whose name the Firm shall obtain from the Department) at the address specified above for the County. (iii)
if to the Comptroller, to the attention of the Comptroller at 240 Old Country Road, Mineola, NY 11501, and (iv) if to the Firm,
to the attention of the person who executed this Agreement on behalf of the Firm at the address specified above for the Firm, or
in each case to such other persons or addresses as shall be designated by written notice.

 

		18.	All Legal Provisions Deemed Included; Severability; Supremacy; Construction.

 

(a)         
Every provision required by Law to be inserted into or referenced by this Agreement is intended to be a part of this Agreement.
If any such provision is not inserted or referenced or is not inserted or referenced in correct form then (i) such provision shall
be deemed inserted into or referenced by this Agreement for purposes of interpretation and (ii) upon the application of either
party this Agreement shall be formally amended to comply strictly with the Law, without prejudice to the rights of either party.

 

    	 

    	 

    

 

(b)         
In the event that any provision of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

(c)         
Unless the application of this subsection will cause a provision required by Law to be excluded from this Agreement, in
the event of an actual conflict between the terms and conditions set forth above the signature page to this Agreement and those
contained in any schedule, exhibit, appendix, or attachment to this Agreement, the terms and conditions set forth above the signature
page shall control. To the extent possible, all the terms of this Agreement should be read together as not conflicting.

 

(d)         
Each party has cooperated in the negotiation and preparation of this Agreement. Therefore, in the event that construction
of this Agreement occurs, it shall not be construed against either party as drafter.

 

19.        
Section and Other Headings. The section and other headings contained in this Agreement are for reference purposes
only and shall not affect the meaning or interpretation of this Agreement.

 

20.        
Entire Agreement. This Agreement represents the full and entire understanding and agreement between the parties with
regard to the subject matter hereof and supersedes all prior agreements (whether written or oral) of the parties relating to the
subject matter of this Agreement.

 

21.        
Administrative Service Charge. The Firm agrees to pay the County an administrative service charge of five hundred
thirty three and 00/100 dollars ($533.00) for the processing of this Agreement pursuant to Ordinance Number 74-1979, as amended
by Ordinance Number 201-2001. The administrative service charge shall be due and payable to the County by the Firm upon signing
this Agreement.

 

		22.	Joint Venture.

 

(a)         
If the Contractor is comprised of more than one legal entity or any group of partners or joint venturers associated for
the purpose of undertaking this Agreement, each such entity acknowledges and hereby affirmatively represents and agrees that each
has the power to bind the Contractor and each of the others hereunder; and as such, each acts both as principal and agent of the
Contractor and of each of the others hereunder. Each further acknowledges and agrees that all such entities, partners or joint
venturers associated for the purposes of undertaking this Agreement shall be jointly and severally liable to third parties, including
but not limited to the County, for the acts or omissions of the Contractor or any other entity, partner or joint venturer hereunder.

 

    	 

    	 

    

 

(b)         
If the Contractor is comprised of more than one legal entity or any group of partners or joint venturers associated for
the purposes of undertaking this Agreement, each such entity acknowledges and hereby affirmatively represents and agrees that the
respective rights, duties and liabilities of each hereunder shall be governed by the laws of the State of New York, including but
not limited to the New York Partnership Law.

 

23.        
Executory Clause. Notwithstanding any other provision of this Agreement:

 

(a)         
Approval and Execution. The County shall have no liability under this Agreement (including any extension or other
modification of this Agreement) to any Person unless (i) all County approvals have been obtained, including; if required, approval
by the County Legislature, and (ii) this Agreement has been executed by the County Executive (as defined in this Agreement).

 

(b)         
Availability of Funds. The County shall have no liability under this Agreement (including any extension or other
modification of this Agreement) to any Person beyond funds appropriated or otherwise lawfully available for this Agreement, and,
if any portion of the funds for this Agreement are from the state and/or federal governments, then beyond funds available to the
County from the state and/or federal governments.

 

{Remainder of page intentionally
left blank}

 

    	 

    	 

    

 

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

 

	 	AbTech Industries, Inc.	 
	 	 	 	 
	 	 	 	 
	 	By:  	/s/ Glenn R. Rink	 
	 	 		 
	 	Name:  	Glenn
    R. Rink 	 
	 	 	 	 
	 	Title:  	President & C.E.O.	 
	 	 	 	 
	 	Date:  	June
    5, 2013 	 

 

	 	NASSAU COUNTY	 
	 	 	 	 
	 	 	 	 
	 	By:  	/s/ Edward P. Mangano	 
	 	 	 	 
	 	Name:  	Edward
    P. Mangano	 
	 	 	 	 
	 	Title:  	County Executive	 
	 	 	 	 
	 	Date:  	October 8, 2013	 

 

 

PLEASE EXECUTE IN BLUE
INK

 

 

    	 

    	 

    

 

	STATE OF ARIZONA	)
	 	)ss.:
	COUNTY OF MARICOPA	)

 

 

On the 5 day of
June in the year 2013 before me personally came Glenn R. Rink to me personally known, who, being by me duly sworn, did depose
and say that he or she resides in the County of Maricopa, that he or she is the Pres./CEO of AbTech Industries,
Inc., the corporation described herein and which executed the above instrument; and that he or she signed his or
her name thereto by authority of the board of directors of said corporation.

 

NOTARY PUBLIC: /s/
Teri Wilkerson

                                   Comm.
exp. 8/28/16

 

 

	STATE OF NEW YORK 	)
	 	)ss.:
	COUNTY OF NASSAU 	)

 

 

On the  8 day of
October in the year 2013 before me personally came Edward P. Mangano to me personally known, who, being by me
duly sworn, did depose and say that he or she resides in the County of Nassau, that he or she, is a Deputy County
Executive of the County of Nassau, the municipal corporation described herein and which executed the above instrument; and
that he or she signed his or her name thereto pursuant to Section 205 of the County Government Law of Nassau County.

 

NOTARY PUBLIC: /s/
Doreen R. Pennica

                                   Comm.
exp. 7/23/15

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