Document:

tpni_ex101.htm

EXHIBIT 10.1
 
ASSET PURCHASE AGREEMENT
 
This Asset Purchase Agreement (this "Agreement"), dated as of October 5, 2015, is entered into by and among MikeKoenigs.com Inc., a Minnesota corporation ("Buyer"), The Pulse Network Inc., a Massachusetts corporation ("Pulse"), The Pulse Network Inc., a Nevada corporation of which Buyer is a wholly owned subsidiary ("Parent"), You Everywhere Now, LLC, a California limited liability company that is a wholly owned subsidiary of Pulse (the "Company"), and the Company's subsidiaries, Traffic Geyser, LLC, a California limited liability company, and VoiceFollowup, LLC, a California limited liability company (the "Subsidiaries;" Pulse, Parent, the Company and the Subsidiaries, together, "Seller Parties").
 
WHEREAS, Pulse, Parent and Buyer entered into (a) that certain Securities Purchase Agreement (the "Purchase Agreement") dated as of October 3, 2014, pursuant to which Pulse purchased from Buyer all of the membership interests in the Company and the Subsidiaries, and (b) that certain Separation Agreement (the "Separation Agreement") dated as of March 10, 2015, pursuant to which the parties (among other things) terminated the Employment Agreement (as defined in the Purchase Agreement), which provided for forbearance by Buyer and Michael Koenigs ("Koenigs") with respect to certain requests to Seller Parties under the Purchase Agreement and certain related agreements and provided for a consulting arrangement between Koenigs and Pulse;
 
WHEREAS, Buyer desires to purchase from Seller Parties, and Seller Parties desire to sell to Buyer, certain assets of Seller Parties, subject to the terms and conditions of this Agreement;
 
NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
 
ARTICLE I
Closing
 
Section 1.01 Closing, The closing of the purchase and sale of the Purchased Assets (as defined below) and the other transactions contemplated by this Agreement (the "Closing") shall take place on the date hereof (the "Closing Date") at the offices of DuBois, Bryant & Campbell, LLP, 303 Colorado Street, Suite 2300, Austin, Texas 78701; provided, however, that the Closing may occur through the delivery of executed documents by facsimile or by email transmission of scanned copies, in each case to be held in escrow pending authorization of their release by the parties, and the physical attendance of the parties at the Closing shall not be required.    
	 
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Section 1.02 Purchase and Sale; Covenants. The parties hereto hereby covenant and agree as follows:
 
(a) Seller Parties hereby sell, transfer, convey and deliver to Buyer good and valid legal and beneficial title to, together with all rights in and to, the assets described in Schedule 1.02(a) attached hereto (the "Purchased Assets"), free and clear of all liens and other encumbrances (collectively, "Liens").        

(b) The principal amount of that certain Promissory Note dated October 3, 2014 payable by Pulse to Buyer (the "Note") is hereby decreased from $1,170,000.00 to $670,000.00.
 
(c) Buyer hereby waives all rights to payment by Seller Parties of interest that was accrued and payable under the Note as of June 30, 2015. For the avoidance of doubt, interest shall continue to accrue and become payable with respect to periods from and after January 1, 2017 in accordance with the terms of the Note.
 
(d) Buyer shall cause Koenigs to provide up to three (3) informational webinars or webcasts promoted to Pulse as Buyer agrees in its discretion (provided that (i) with respect to any such webinars or webcasts, Seller Parties shall pay to Buyer appearance fees, sales commissions and equipment rental fees at rates reasonably agreed by Buyer in advance of each livecast, (ii) such webinars or webcasts shall not unreasonably interfere (with respect to time commitment, travel or otherwise) with the business activities of Buyer and Koenigs, and (iii) neither Buyer nor Koenigs makes any representations or warranties of any kind, expressed or implied, with respect to any such webinar or webcast or the quality or the results thereof, including, without limitation, no warranties of merchantability or fitness for a particular purpose, which are specifically disclaimed.
 
(e) The sublease by Buyer to Pulse and Parent of certain office space located at (as further described in Section 3.02(a)(ii) of the Settlement Agreement) is hereby terminated.
 
(f) Buyer hereby waives all rights to reimbursement by Seller Parties for $64,195.45 of currently outstanding miscellaneous costs and expenses includes Interest to Date of Agreement, Commissions, Studio Rental, and Accounting Fee.
 
(g) Seller Parties shall remain solely liable for and shall defend, indemnify and hold Buyer and Koenigs harmless from and against any liabilities and obligations (including without limitation fulfillment and delivery items, expenses, claims, refunds and debts) arising out of the sale of Publish and Profit, Top Gun and any other products included in the Purchased Assets to customers prior to the date hereof.
 
(h) Seller Parties shall provide Buyer and Koenigs with 40 man-hours of consulting/training/knowledge transfer services related to the Publish and Profit products included in the Purchased Assets.    
	 
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ARTICLE II
Representations and Warranties of Seller Parties
 
Seller Parties represent and warrant to Buyer that the statements contained in this Article II are true and correct.
 
Section 2.01 Organization and Authority of Seller Parties; Enforceability. Each Seller Party is an entity duly organized, validly existing and in good standing under the laws of the state of its formation. Each Seller Party has full power and authority to enter into this Agreement and the documents to be delivered hereunder, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. This Agreement and the documents to be delivered by Seller Parties hereunder have been duly executed and delivered by the Seller Parties, and (assuming due authorization, execution and delivery by Buyer) this Agreement and the documents to be delivered by Seller Parties hereunder constitute legal, valid and binding obligations of the Seller Parties, enforceable against the Seller Parties in accordance with their respective terms, subject to the effect of any applicable bankruptcy, reorganization, insolvency or similar laws affecting creditors' rights and remedies generally and to the effect of general principles of equity.
 
Section 2.02 No Conflicts; Consents. The execution, delivery and performance by Seller Parties of this Agreement and the documents to be delivered by Seller hereunder, and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate of formation, bylaws or other organizational documents of any Seller Party; or (b) violate or conflict with any judgment, order, decree, statute, law, ordinance, rule or regulation applicable to any Seller Party.
 
Section 2.03 Title to Purchased Assets. Seller Parties ow and have good title to the Purchased Assets, free and clear of all Liens. Upon the consummation of the Closing, Buyer will own and have good title to the Purchased Assets, free and clear of all Liens.
 
ARTICLE III
Representations and warranties of buyer
 
Buyer represents and warrants to Seller Parties that the statements contained in this Article III are true and correct.
 
Section 3.01 Organization and Authority; Enforceability. Buyer is a corporation duly organized, validly existing and in good standing under the laws of Minnesota. Buyer has full corporate power and authority to enter into this Agreement and the documents to be delivered by Buyer hereunder, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution, delivery and performance by Buyer of this Agreement and the documents to be delivered by Buyer hereunder and the consummation of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of Buyer. This Agreement and the documents to be delivered by Buyer hereunder have been duly executed and delivered by Buyer, and (assuming due authorization, execution and delivery by the other parties thereto) this Agreement and the documents to be delivered by Buyer hereunder constitute legal, valid and binding obligations of Buyer enforceable against Buyer in accordance with their respective terms, subject to the effect of any applicable bankruptcy, reorganization, insolvency or similar laws affecting creditors' rights and remedies generally and to the effect of general principles of equity.
 
Section 3.02 No Conflicts. The execution, delivery and performance by Buyer of this Agreement and the documents to be delivered by Buyer hereunder, and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate of formation, bylaws or other organizational documents of Buyer; or (b) violate or conflict with any judgment, order, decree, statute, law, ordinance, rule or regulation applicable to Buyer.    
	 
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ARTICLE IV
Additional Covenants
 
Section 4.01 Confidentiality; Public Announcements. Unless otherwise required by applicable law, no party may, without prior written consent of the other party, (a) disclose to any third party, other than such party's representatives, agents, counsel, accountants, investment bankers, investors, prospective investors, lenders or prospective lenders any confidential or proprietary information about the business, assets or operations of the other parties to this Agreement or (b) make any public announcements regarding this Agreement or the transactions contemplated hereby.
 
Section 4.02 Transfer Taxes. Seller Parties shall pay any and all transfer, documentary, sales, use, stamp, registration, value added and other such transfer taxes and fees (including any penalties and interest) incurred in connection with this Agreement and the documents to be delivered hereunder. Seller Parties and Buyer shall cooperate with each other in order to timely file any tax return or other document with respect to such transfer taxes or fees.
 
Section 4.03 Further Assurances. Following the Closing, each of the parties hereto shall execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement and the documents to be delivered hereunder.
 
ARTICLE V
Miscellaneous
 
Section 5.01 Expenses. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.
 
Section 5.02 Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.    
	 
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Section 5.03 Headings. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.
 
Section 5.04 Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.
 
Section 5.05 Entire Agreement. This Agreement and the documents to be delivered hereunder constitute the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersede all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject matter, provided that the Purchase Agreement, the agreements entered into in connection with the Purchase Agreement (including the Note) and the Separation Agreement shall remain in full force and effect in accordance with their terms, except as heretofore modified by the Separation Agreement or as modified by this Agreement.
 
Section 5.06 Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written consent of the other party. No assignment shall relieve the assigning party of any of its obligations hereunder.
 
Section 5.07 No Third-party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.
 
Section 5.08 Amendment and Modification. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto.
 
Section 5.09 Waiver. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.
 
Section 5.10 Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Texas without giving effect to any choice or conflict of law provision or rule (whether of the State of Texas or any other jurisdiction) that would cause the application of laws of any jurisdiction other than those of the State of Texas.    
	 
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Section 5.11 Submission to Jurisdiction. Any legal suit, action or proceeding arising out of or based upon this Agreement, the documents to be delivered hereunder or the transactions contemplated hereby or thereby may be instituted only in the federal courts of the United States of America or the courts of the State of Texas in each case located in the city of Austin, Texas, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding.
 
Section 5.12 Waiver of Jury Trial. Each party acknowledges and agrees that any controversy which may arise under this Agreement or the documents to be delivered hereunder is likely to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally waives any right it may have to a trial by jury in respect of any legal action arising out of or relating to this Agreement, any document executed or delivered in connection herewith or the transactions contemplated hereby.
 
Section 5.13 Specific Performance and Injunctive Relief. The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof and temporary or permanent injunctive relief (including restraining orders) without bond, in addition to any other remedy to which they are entitled at law or in equity.
 
Section 5.14 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail of scanned copies or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.
 
Signature page follows.    
	 
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above.
 
 
	SELLER: 
	THE PULSE NETWORK, INC.	 

	 	 	 	 
		By:	/s/ Stephen Saber  	 

	 
	Name:  
	Stephen Saber  	 

	 
	Title:
	Chief Executive Officer	 

	 
	 
	 
	 

	 
	 
	 
	 

	PARENT: 
	THE PULSE NETWORK, INC. 
	 

	 
	 
	 
	 

	 
	By: 
	/s/ Stephen Saber 
	 

	 
	Name:  
	Stephen Saber 
	 

	 
	Title: 
	Chief Executive Officer 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	COMPANY:
	YOU EVERYWHERE NOW, LLC 
	 

	 
	 
	 
	 

	 
	By:  
	/s/ Stephen Saber 
	 

	 
	Name:  
	Stephen Saber 
	 

	 
	Title: 
	Chief Executive Officer 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	SUBSIDIARIES:
	TRAFFIC GEYSER, LLC 
	 

	 
	 
	 
	 

	 
	By:  
	/s/ Stephen Saber 
	 

	 
	Name:  
	Stephen Saber 
	 

	 
	Title: 
	Chief Executive Officer 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	VOICEFOLLOWUP, LLC  
	 

	 
	 
	 
	 

	 
	By: 
	/s/ Stephen Saber 
	 

	 
	Name:  
	Stephen Saber 
	 

	 
	Title:
	Chief Executive Officer 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	BUYER:  
	MIKEKOENIGS.COM, INC.
	 

	 
	 
	 
	 

	 
	By: 
	/s/ Michael Koenigs 
	 

	 
	Name:  
	Michael Koenigs 
	 

	 
	Title:
	Chief Executive Officer 
	 

 

Asset Purchase Agreement 
Signature Page  

	 
	

	

	 

 
Schedule 1.02(a)

Purchased Assets

1. Full ownership, intellectual property and administrative rights to all Publish and Profit courses and products, including the main product plus certification products.

2. Full ownership, intellectual property and administrative rights to all Top Gun Consulting Toolkit courses and products, including the main product plus certification products.

3. Full ownership, intellectual property and administrative rights to the Publish and Profit Facebook Group.

4. Full ownership, intellectual property and administrative rights to the Publish and Profit Kajabi Site.

5. Full ownership, intellectual property and administrative rights to all Publish and Profit digital assets on Amazon S3, Youtube or Vimeo.

6. Full ownership, intellectual property and administrative rights to all Publish and Profit customer records, spreadsheets, and customer data.

7. Full ownership, intellectual property and administrative rights to all You Everywhere Now "YEN" assets including the You Everywhere Now Facebook Group.EX-10.1

 Exhibit 10.1 

CONSULTING SERVICES AGREEMENT 

This Consulting Services Agreement (this “Agreement”), dated as of November 2, 2015, is entered into by and between Walgreens
Boots Alliance, Inc., a Delaware corporation, on behalf of itself and its subsidiaries and affiliates (the “Company”), and Timothy R. McLevish (“Consultant”). 

WHEREAS, Consultant served as a consultant to the Company pursuant to a Consulting Services Agreement entered into as of February 20,
2015 (the “Prior Agreement”); 
 WHEREAS, the parties wish to enter into this Agreement for additional consulting services; and

 WHEREAS, both parties wish to enter into this Agreement to govern the terms and conditions of this arrangement. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 1. Services. During the Term (as
defined in Section 3 below), Consultant agrees to make Consultant’s personal services (the “Services”) available to the Company to provide advice and counsel to the Chief Executive Officer of the Company on such matters as they
deem appropriate, including but not necessarily limited to the post-restructuring integration of the Company, cost savings objectives and business development initiatives. Consultant agrees to devote sufficient time and attention to the performance
of the Services on a full-time basis, subject to any performance expectations and specific projects and deliverables as may be set forth by the Company from time to time. The Company agrees to provide Consultant with access to all information
necessary for him to render such Services.  
 2. Consideration 

(a) Base Fees. As consideration for the Services during the Term, the Company shall pay Consultant a base fee of $1,000,000. As
consideration for the Services during any Extended Term (as defined in Section 3 below), the Company shall pay Consultant a base fee of $166,667 per month, with a pro-rated amount to be paid for any partial month. The base fee for the Term
shall be paid within 30 days following execution of this Agreement, subject to the repayment terms and conditions set forth below. The monthly base fee for each month of any Extended Term shall be processed during the last week of the month and paid
on or before the 15th day of the following month. Notwithstanding the foregoing, if this Agreement continues for an Extended Term, then the parties may mutually agree on any one or more adjustments to the base fee for such Extended Term. If this
Agreement ends prior to the end of the Term for any reason other than termination by the Company without Cause, as defined in Section 4 below, then Consultant shall be obligated to repay a pro-rated portion of the $1,000,000 base fee, as
reasonably determined by the Company. This amount shall be due and payable within 30 days of the termination of this Agreement. Consultant waives presentment for payment, notice of dishonor, protest, and notice of protest. 

 (b) Performance-Based Fee. In addition to the base fees described in Section 2(a)
above, Consultant shall be eligible for performance-based fees over the course of the Term and any Extended Term. Such fees, if any: 
  

	 	(i)	shall be paid at the sole discretion of the Company’s Chief Executive Officer and Executive Chairman, acting together, after taking into account the overall contributions of Consultant towards the success of the
Company in performing the Services; 

  

	 	(ii)	shall be determined at the end of the Term and each six-month period of the Extended Term – or such shorter period ending upon termination of this Agreement for any reason other than Cause (each, a
“Performance Fee Period”); 

  

	 	(iii)	shall be up to one times the total base fees earned over the course of each Performance Fee Period; and 

  

	 	(iv)	shall be paid within 60 days following the end of each Performance Fee Period. 

 (c)
Expenses. Consultant shall be reimbursed all reasonable expenses incurred by Consultant in the performance of the Services, in accordance with the Company’s business expense policies and guidelines. 

(d) Taxes. Consultant shall be responsible for all income and other taxes due to any taxing authority with respect to the fees paid
hereunder. The Company is not required to pay nor will Consultant invoice the Company for sales tax on Services. Each party shall be responsible for the payment of other taxes, if any, imposed upon it in connection with, or as a result of, this
Agreement. 
 3. Term of Agreement. This Agreement shall continue through February 28, 2016 (the “Term”); provided
that either the Company or Consultant may terminate this Agreement at any time upon written notice delivered to the other party at least two weeks prior to the date of such termination. Following the completion of the Term, this Agreement shall
automatically continue on a month-to-month basis (such additional period of time, the “Extended Term”), subject to either party’s right to terminate this Agreement at any time during the Term, at the end of the Term or during the
Extended Term, in each case, upon at least two weeks’ notice, as described above. The Term or Extended Term shall expire immediately upon Consultant’s death. All references in the remainder of this Agreement to the Term shall include any
Extended Term. 
 4. Termination; Impact on Fees. Upon termination of this Agreement, the Company shall pay Consultant for
base fees and expenses incurred prior to the effective date of termination plus any unpaid performance-based fee determined to be due for the final Performance Fee Period. Alternatively, Consultant may be obligated to repay base fees paid for
Services not yet performed, as set forth in Section 2(a) above. Pursuant to its terms, Section 5 below will survive any expiration or termination of this Agreement; provided, however, that Consultant shall not be eligible for any
performance-based fee pursuant to Section 2(b) if the Services of Consultant are terminated by the Company for any reason(s) constituting Cause. Termination for “Cause” shall mean the termination of Consultant’s Services
due to: (a) material breach of the terms of this Agreement, including but not limited to the Non-Compete Agreements referenced in Section 5 below, (b) an act or acts of dishonesty committed by Consultant, (c) a material violation
of any anti-harassment or anti-discrimination policies or procedures of the Company, or (d) a material violation of any of the other policies or procedures of the Company applicable to Consultant, which violation is either: (i) grossly
negligent; or (ii) willful and deliberate. 

  
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 5. Restrictive Covenants; Confidential Information. During the Term, Consultant shall
remain subject to all continuing restrictive covenants and other continuing obligations as a former employee of the Company, including but not limited to all obligations included or referenced in the Non-Competition, Non-Solicitation and
Confidentiality Agreements that Consultant agreed to in connection with restricted stock unit awards granted to him (the “Non-Compete Agreements”). It is understood and agreed that the Term of this Agreement and the Prior Agreement shall
be treated like continuing employment for purposes of the Non-Compete Agreements, such that the duration of Consultant’s post-employment obligations under the Non-Compete Agreements shall be triggered off of the end of this Agreement.
Consultant shall also be independently subject under this Agreement to the obligation to maintain the confidentiality of all Confidential Information (as defined in Section 6 below) during the Term and at all times thereafter. 

6. Company Property. On or before the last day of the Term, Consultant shall, to the extent not previously returned or
delivered: (a) return all equipment, records, files, documents, data, programs or other materials and property in Consultant’s possession, custody or control which relates or belongs to the Company or any one or more of its affiliates,
including, without limitation, all, Confidential Information (defined below), computer equipment, access codes, messaging devices, credit cards, cell phones, keys and access cards; and (b) deliver all original and copies of confidential
information, electronic data, notes, materials, records, plans, data or other documents, files or programs (whether stored in paper form, computer form, digital form, electronically or otherwise, on Company equipment or Consultant’s personal
equipment) that relate or refer in any to (1) the Company or any one or more of its affiliates, its business or its employees, or (2) the Company’s Confidential Information or similar information. By signing this Agreement, Consultant
represents and warrants that Consultant has not retained and has or shall timely return and deliver all the items described or referenced in subsections (a) or (b) above; and, that should Consultant later discover additional items
described or referenced in subsections (a) or (b) above, Consultant shall promptly notify the Company and return/deliver such items to the Company. “Confidential Information” means information (1) disclosed to or known by
Consultant as a consequence of or through his employment with the Company or one of its affiliates; and (2) which relates to any aspect of the Company’s or an affiliate’s business, research, or development, and shall include, but is
not limited to, the Company’s or an affiliate’s trade secrets, proprietary information, business plans, marketing plans, financial information, employee performance, compensation and benefit information, cost and pricing information,
identity and information pertaining to customers, suppliers and vendors, and their purchasing history with the Company, any business or technical information, design, process, procedure, formula, improvement, or any portion or phase thereof, that is
owned by or has, at the time of termination, been used by the Company, any information related to the development of products and production processes, any information concerning proposed new products and production processes, any information
concerning marketing processes, market feasibility studies, cost data, profit plans, capital plans and proposed or existing marketing techniques or plans, financial information, including, without limitation, information set forth in internal
records, files and ledgers, or incorporated in profit and loss statements, fiscal reports, business plans or other financial or business reports, and information provided to the Company or an affiliate by a third party under restrictions against
disclosure or use by the Company or others. Nothing in this Section shall be construed, however, to require Consultant to return to the Company any publicly available information or other information Consultant obtained by reason of his ownership of
Company stock or debt. 

  
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 7. Warranties. Consultant warrants that the Services (a) will be performed in a
diligent and professional manner; (b) will conform to the provisions of this Agreement; and (c) will be performed in accordance with applicable laws.  

8. General Provisions 

(a) Independent Contractor. Consultant understands and agrees that Consultant is serving as an independent contractor of the Company
during the Term, and that Consultant is not an employee of the Company. Consultant further understands and agrees that the Company will not withhold any income or other taxes from the amounts paid to Consultant, and that Consultant is responsible
for paying Consultant’s own income, social security, Medicare and other applicable taxes. Consultant further understands and agrees that Consultant will not have any right to the benefits under, or rights and privileges to participate in, the
Company’s employee benefit plans (all of which are made available only to the Company’s employees). Consultant further agrees that any future reclassification of Consultant from independent contractor to employee status by a taxing
authority will not confer upon Consultant eligibility for any retroactive or prospective the Company benefits. 
 (b) Intellectual
Property. Consultant agrees that all patentable or copyrightable ideas, writings, drawings, inventions, designs, parts, machines or processes developed solely as a result of, or in the course of, the Services shall be the property of the
Company. Consultant herewith assigns all rights in such intellectual property to the Company, and shall supply all assistance reasonably requested in securing for the Company’s benefit any patent, copyright, trademark, service mark, license,
right or other evidence of ownership of any such intellectual property, and will provide full information regarding any such item and execute all appropriate documentation prepared by the Company in applying or otherwise registering, in the
Company’s name, all rights to any such item. The Company has the right to grant licenses to make, use, buy or sell any product or service derived from the Services performed under this Agreement to its affiliates and subsidiaries. 

(c) Conduct. Consultant will comply with all applicable Company policies during the Term, including, but limited to: (i) no
smoking; (ii) drug-free environment; (iii) dress code; (iv) non-harassment; (v) travel/expense guidelines; (vi) all safety and security policies (including a prohibition against weapons), and (vii) computer security and
use policies. 
 (d) Non-Assignment. Consultant may not assign or delegate this Agreement or any of Consultant’s rights or
obligations under this Agreement without the prior written consent of the Company. Any attempted assignment or delegation without the necessary consent shall be void. Subject to the provisions of this Section, this Agreement shall be binding upon
and shall inure to the benefit of the parties hereto and their respective successors and assigns. 
 (e) Counterparts. This Agreement
may be executed in one or more counterparts, each of which shall be considered an original instrument, but all of which shall be considered one and the same agreement. 

(f) Entire Agreement. Except as otherwise specified herein, this Agreement supersedes all prior understandings and agreements between
the parties with respect to the 

  
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subject matter hereof and may not be changed or terminated orally, and no change, termination or attempted waiver of any of the provisions hereof shall be binding unless in writing and signed by
the party against whom the same is sought to be enforced. For the avoidance of doubt, this Agreement serves as an extension of the Prior Agreement, and does not supersede the Prior Agreement except as provided herein. 

(g) Governing Law. This Agreement shall be interpreted according to the laws of the State of Illinois. 

IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto. 

 

			
	WALGREENS BOOTS ALLIANCE, INC.
		
	By:	 	 /s/ Kathleen Wilson-Thompson

		
	Name:	 	Kathleen Wilson-Thompson
	Title:	 	EVP and Global Chief Human Resources Officer
	Dated:	 	11/2/2015

  

	
	CONSULTANT
	
	 /s/ Timothy R. McLevish

	Timothy R. McLevish

 Dated: 11/1/2015 

  
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