Document:

Exhibit
      10.3

     

    
      	
              Collexis US, Inc

            
	
              1201 Main Street, Suite 980

            
	
              Columbia, SC 29201

            
	
              USA

            
	 
	
              (803) 727-1113 Main

            
	
              (803) 727- 1118 Fax

            
	 
	
              www.collexis.com

            

    

    

    Separation and Settlement
      Agreement

     

    This
      Separation and Settlement Agreement (the “Agreement”) is effective as of June
      30, 2008 (the “Separation Date”), by and among:

    

    
      	
              1.

            	
              Collexis
                Holdings, Inc.,
                with its main office being 1201 Main Street, Suite 980, Columbia,
                SC USA,
                hereby legally represented by its CEO William D. Kirkland (“CHI”);
                

            

    

    

    
      	
              2.

            	
              Collexis
                B.V.,
                a
                private company with limited liability under the laws of The Netherlands,
                with its registered office in Woubrugge, The Netherlands, and principal
                place of business in The Netherlands (4191 NW) Geldermalsen, at the
                Oudenhof 2f (“Collexis BV)(CHI is the sole shareholder of Collexis
                B.V.)(

            

    

    

    For
      purposes of this agreement, CHI and Collexis BV, together, will be referred
      to
      as “Collexis”); 

    

    and
      

    

    
      	
              3.

            	
              Henk
                Buurman,
                a
                citizen and resident of The Netherlands (hereafter referred to
                as “Employee”),
                residing at Woubrugge XP (the Netherlands), Virulystraat 6 (2481
                PT);

            

    

    

    
      	
              4.

            	
              V.D.B.
                Pacific B.V.,
                residing in Virulystraat 6, 2481 PT Woubrugge XP, The Netherlands
                (“Buurman’s Company”); and

            

    

    

    WHEREAS:

     

    
      	
              1.

            	
              Employee
                has been employed by Collexis B.V. since the year 2000. Collexis
                B.V. and
                Employee entered into that certain labor contract having an effective
                date
                of January 1, 2007 and continuing for a period of thirty-six months
                from
                that date (the “Employment Agreement”). Pursuant to the terms of the
                Employment Agreement, as of the Separation Date, the current position
                of
                the Employee is VP of Strategy for Collexis B.V (“BV VP”). The monthly
                gross salary of Employee amounts to €15.000, 00 excl. holiday pay, based
                on a 40-hour work week. As part of the overall compensation package
                offered to Employee, certain rights were granted to Buurman’s Company
                pursuant to that certain agreement entitled “Collexis Option Agreement
                Model,” dated as of the 4th
                day of April 2007, which agreement has been assumed by CHI (the “Stock
                Option Agreement”)

            

    

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              2.

            	
              As
                of the Separation Date hereof, Buurman’s Company serves as a director of
                Collexis B.V. (the “BV Director”).

            

    

    

    
      	
              3.

            	
              During
                the month of October 2007, a reorganization began during which time
                Collexis B.V. informed the Employee that his position will change.
                Both
                Collexis and Employee have put in significant effort to find a suitable
                solution within the organization for these changing responsibilities,
                but
                have been unable to locate an alternative suitable position within
                Collexis B.V. or Collexis Holdings, Inc. The Parties would like to
                stress
                that according to their opinion, neither Party is guilty in this
                situation, there is no urgent cause and the Separation (as defined
                below)
                is mutual, with no dispute.

            

    

     

    HAVE
      AGREED TO THE FOLLOWING:

    

    
      	
              1.

            	
              Separation.
                The Employment Agreement, along with any and all agreements, policies
                and
                other terms and conditions relating to the employment of Employee
                described thereunder and employment relationship created thereby
                (other
                than the Stock Option Agreement and Sections 15, 17 and 18 of that
                certain
                related agreement entitled “Employment Contract: General Provisions,”
                which in each case shall survive) between Collexis B.V. and Employee
                shall
                terminate (the “Separation”) on the Separation Date, and be of no further
                force and effect thereafter. 

            

    

    

    
      	
              2.

            	
              Resignation.
                Buurman’s Company hereby tenders its resignation as of June 30, 2008, as
                the BV Director and from any and all other positions and in any other
                capacity for and on behalf of Collexis, B.V. and each affiliate thereof
                (Together, the resignation referenced hereunder by Employee and Buurman’s
                Company shall be referred to collectively as the “Resignation”). The
                Resignations are hereby accepted by
                Collexis.

            

    

    

    
      	
              3.

            	
              Severance.
                As consideration for Employee and Buurman’s Company entering into and
                abiding by the terms of this Agreement, CHI is willing to pay the
                Employee
                a gross severance pay of € 7,500 per month for a period of 8
                consecutive calendar months starting July 2008 in the context of
                the
                termination of the employment as a contribution to any loss of income
                in
                the future (the “Severance Pay”). It is the Employee’s obligation to pay
                all appropriate taxes and other necessary amounts to the Dutch government
                from such payments. The severance pay will be paid on the last day
                of each
                month by CHI, less any bank charges, to an account designated by
                Employee.

            

    

     

    
      

       

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      	
              4.

            	
              Amendment
                to Stock Option Agreement.
                Each of CHI and Buurman’s Company hereby agrees that the Stock Option
                Agreement is hereby amended as
                follows:

            

    

    

    Sections
      5 & 6 of the Stock Option Agreement, along with Schedule 1, entitled
“Vesting Schedule” is hereby deleted in its entirety, and in lieu thereof,
      Section 6 shall read as follows: The Option to purchase the Option Shares is
      fully vested and may be exercised over the next two years starting 1 August
      2008; provided,
      however,
      that
      Buurman’s Company and Employee agree to sell no more than 75,000 purchased
      Option Shares in any one calendar month; provided,
      further,
      that
      any such sale is not in violation of any securities laws of the United States
      of
      America. 

    

    
      	 	
              CHI
                will update the Employee’s account with E*Trade to reflect the 1 million
                vested options and activate the account for trading as soon as possible
                from the date of signing this agreement.

            

    

    

    
      	
              5.

            	
              Lock
                Up Agreement.
                Upon and coincident with the execution of this Agreement, Employee
                and
                Buurman’s Company shall enter into CHI’s usual and customary lock up
                agreement, pursuant to which its shares of CHI common stock is restricted
                from transfer for a period of twelve months from the Separation Date.
                

            

    

    

    
      	
              6.

            	
              Accrued
                Holiday Balance.
                Employee is expected to have taken all outstanding holidays. Employee’s
                accrued holiday balance will be zero per Separation Date and he will
                not
                be paid for any outstanding or remaining holidays.
                

            

    

    

    
      	
              7.

            	
              Return
                of Collexis’ Property.
                Each of the Employee Released Parties (as defined below) is expected
                to
                return to CHI all of the property owned by or in or to which rights
                are
                held by Collexis or any affiliate thereof, including, without limitation,
                credit cards, software and any books or records of the CHI or Collexis
                B.V. The Employee may retain his Collexis B.V.-provided computer
                and cell
                phone, but may not retain computer software, whether on such devices
                or
                otherwise, that is licensed to or owned by Collexis or any affiliate
                thereof. 

            

    

    

    
      	
              8.

            	
              Consultation.
                Information to the UWV
                (Employee
                Insurance Administration Agency) and/or the CWI
                (Organization
                for Work and Income) in connection with an application for unemployment
                benefits will only be given after consultation between the
                Parties.

            

    

    

    
      	
              9.

            	
              Confidentiality
                and Disclosure.
                The Parties will observe confidentiality in respect of the content
                of this
                settlement and will not submit it to any third parties, unless it
                must be
                submitted to the UWV
                (Employee
                Insurance Administration Agency) and/or the CWI
                (Organisation
                for Work and Income) in connection with an application for unemployment
                benefits. In particular, the Parties will not make any statements
                regarding the content of this settlement agreement concluded between
                the
                Parties to other employees or former employees of Collexis B.V.
                Notwithstanding any provision to the contrary in this Agreement or
                any
                other agreement entered into of even date herewith, Collexis shall
                have
                the sole and exclusive right to make such disclosures of this Agreement,
                the Lock Up Agreement and the Stock Option Agreement as it may determine
                in its sole and absolute discretion to comply with any and all applicable
                United States federal and state securities laws and other disclosure,
                contractual or regulatory
                requirements.

            

    

    

    
      	
              10.

            	
              Collexis’
                Confidential Information.
                Each of the Employee Released Parties, directly and indirectly, shall
                maintain the confidentiality and make no disclosure or use whatsoever
                of
                the trade secrets, operations, technology, financial condition, etc.
                of
                Collexis and any affiliate thereof.

            

    

     

    
      

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	
              11.

            	
              Non-Competition.
                Each of the Employee Released Parties agrees not to compete, directly
                or
                indirectly, with Collexis or any affiliate thereof in the knowledge
                discovery and search industry for a period of one (1) year from the
                Separation Date. 

            

    

    

    
      	
              12.

            	
              Assignment
                of Rights
                to Collexis of Intellectual Property.
                Each of the Employee Released Parties gives up and assigns to CHI
                any and
                all rights and claims to any and all intellectual property of or
                otherwise
                used by Collexis or any affiliate thereof.

            

    

    

    
      	
              13.

            	
              Permitted
                Separation.
                The termination of the labor contract does not relate to the existence
                of
                any termination restriction as mentioned in Article 7:647,648,670
                and 670a
                BW or any other ban on the termination of the labor
                agreement.

            

    

    

    
      	
              14.

            	
              Termination
                of Collexis’ Legal Proceedings.
                Collexis agrees and agrees to cause its controlled affiliates to
                terminate
                any current legal proceedings it may have brought against any Employee
                Released Party (as defined below) with prejudice.
                

            

    

    

    
      	
              15.

            	
              Termination
                of Employee’s Legal Proceedings.
                Each of the Employee Released Parties agrees to terminate any current
                legal proceedings it may have brought against the Collexis or any
                Collexis
                Released Party with prejudice. 

            

    

    

    
      	
              16.

            	
              Website.
                Included on the Company’s website (www.collexis.com)
                will be the following for a period of two (2) years or longer at
                the
                Company’s sole discretion: “After many consecutive information-sharing
                achievements, the company was established in Europe in 1999, among
                the
                founders were Peter van Praag, Henk Buurman and Glenn
                Nijbroek.”

            

    

    

    
      	
              17.

            	
              Mutual
                Releases.
                

            

    

    

    
      	
            	(a)	
              Definition.
                For purposes of this Agreement, the term “Claim” shall mean any and all
                causes of action, actions, affirmative defenses, defenses, counterclaims,
                judgments, liens, indebtedness, damages, losses, claims, liabilities
                and
                demands of every kind and character, whether known or unknown, liquidated
                or unliquidated, suspected or unsuspected, existing or prospective,
                from
                the beginning of time through and including the Separation
                Date. 

            

    

    

    
      	
            	(b)	
              Employee
                Release. Except for the Stock Option Agreement or as otherwise provided
                in
                this Agreement, as of the Separation Date, Employee and Buurman’s Company
                hereby and forever release and discharge Collexis and each director,
                officer, employee, consultant, shareholder, parent, subsidiary, successor,
                assign and other affiliate thereof (collectively, the “Collexis Released
                Parties”) from any and all Claims, including, without limitation, any and
                all such Claims arising out of or related to, Employee’s Employment
                Agreement and any and all rights thereunder or termination thereof;
                any
                rights or promises made or believed to have been made with respect
                to any
                shares, options or other securities in or issued by the Collexis
                Released
                Parties; and any and all rights, claims or interests in, or in any
                way
                related to, any of the assets or properties of or used by all or
                any one
                of the Collexis Released Parties (the “Employee Release”). The foregoing
                Employee Release shall constitute a complete and general release
                of all
                such Claims and a covenant not to sue all or any one of the Collexis
                Released Parties relating to such Claims. Notwithstanding any provision
                of
                this Agreement to the contrary, but subject to any other agreement
                that
                may exist between any one of the Employee Released Parties and any
                Collexis Released Party with respect to the Buurman Stock Sale (as
                defined
                below), in no event shall this Employee Release constitute a release
                by
                either Employee or Buurman’s Company of Claims for monies (the “Purchase
                Price”) due from the private sale (the “Buurman Stock Sale”) by either of
                Collexis B.V.’s shares (the “Buurman Stock”)(which shares have since been
                exchanged for CHI’s common shares via a corporate reorganization (the
                “Exchange”)) to any Collexis Released Party (other than Collexis) who is
                obligated to pay the Purchase Price or such person’s obligation to pay the
                Purchase Price in connection with the Buurman Stock Sale.
                

            

    

     

    
      

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      	
            	(c)	
              Employer
                Release. Except as otherwise provided in this Agreement, the Stock
                Option
                Agreement or Lock Up Agreement, as of the Separation Date, Collexis
                hereby
                and forever releases and discharges Employee, Buurman’s Company (together,
                the “Employee Released Parties”) from any and all Claims (the “Employer
                Release”). The foregoing Employer Release shall constitute a complete and
                general release of such Claims and a covenant not to sue the Employee
                Released Parties relating to such Claims.

            

    

    

    
      	
            	(d)	
              Informed
                Release. Each Party hereto acknowledges that he or it understands
                the
                significance and potential consequences of the release of unknown
                claims
                and of the specific waiver of his rights
                thereto.

            

    

    

    
      	
            	(e)	
              Covenant
                Not to Sue. Each of Collexis and the Employee Released Parties agree
                that
                it, he or she will never institute any action for suit-at-law nor
                institute, prosecute, or in any way aid in the institution or prosecution
                of any Claim for damages, costs, loss of services, expenses, or
                compensation for or on account of any damage, loss or injury, either
                to
                person or property or both, whether developed or undeveloped, resulting
                to
                or to result, known or unknown, past, present, or future, arising
                out of
                any Claim that has been released under this Release through, but
                not
                succeeding the Separation Date.

            

    

    

    
      	
              18.

            	
              Non-Disparagement.
                Each of Collexis and Employee Released Parties hereby covenants and
                agrees
                to refrain from making any disparaging or derogatory remarks about
                the
                other Party or Parties to this Agreement or any of the persons released
                under Section 17 of this Agreement. Notwithstanding the generality
                of the
                preceding sentence, it is agreed that Collexis will inform its other
                officers and employees of the terms of this nondisparagement provision
                and
                will urge them to abide by it, but that Collexis cannot and does
                not
                undertake responsibility for controlling the speech of other
                persons.

            

    

     

    
      

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      	
              19.

            	
              Employer’s
                Response to Questions.
                Nothing contained herein will be deemed in any way to limit or restrict
                Employer from factually responding, without disparaging or derogatory
                remarks, to questions from third parties regarding the terms of Employee’s
                employment or the Separation or the
                Resignations.

            

    

    

    
      	
              20.

            	
              Employee’s
                Response to Questions.
                If, but only if, any inquiry is made regarding the financial condition
                or
                business practices of Collexis or any affiliate thereof, each of
                the
                Employee Released Parties, as the case may be, will respond to the
                effect
                that the financial condition and business practices thereof are not
                related to the Separation, and any inquiry regarding such financial
                condition or business practice should be addressed to CHI, and neither
                of
                the Employee Released Parties will not comment
                further.

            

    

    

    [Agreement
      continued on next page]

     

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    This
      agreement will be governed by the laws of the State of South Carolina, USA.
      Each
      Party hereto agrees that it will not bring any suit, action, or other proceeding
      to enforce the provisions of this Agreement in any court other than the state
      court situated in Richland County, South Carolina, USA, or if such court does
      not have jurisdiction with respect to such proceeding, the federal court sitting
      in or nearest to Columbia, South Carolina, USA. Each Party hereto irrevocably
      and unconditionally submits to the exclusive jurisdiction of any such state
      or
      federal court over any such proceeding and agrees that it will not attempt
      to
      deny or defeat personal jurisdiction by motion or other request for leave from
      any such court. Each Party irrevocably and unconditionally waives any objection
      to the laying of venue of any such suit, action or proceeding brought in any
      such court and any claim that any such suit, action, proceeding has been brought
      in an inconvenient forum.

     

    

     

    This
      Agreement may be duly executed by facsimile and in any number of counterparts,
      each of which shall be deemed an original, and all of which together shall
      be
      deemed to constitute one and the same instrument. Signature pages from separate
      identical counterparts may be combined with the same effect as if the parties
      signing such signature page had signed the same counterpart. This Agreement
      may
      be modified or waived only by a separate writing signed by each of the parties
      hereto expressly so modifying or waiving such agreement.

     

    Agreed
      on
      July 31, 2008

     

    

    
      	
              CHI

            	 	
              V.B.D.
                Pacific B.V.

            
	 	 	 	 	 
	
              Collexis
                Holdings, Inc.

            	 	 	 
	 	 	 	 	 
	
              By:

            	/s/ William D. Kirkland	 	
              By:

            	/s/ Henk Buurman
	 	 	 	
              Henk
                Buurman

            
	
              William
                D. Kirkland

            	 	 	
              Its
                sole officer, managing director,

            
	
              President
                and CEO

            	 	 	
              owner
                and authorized officer

            
	 	 	 	 	 
	 	 	 	
              EMPLOYEE:

            
	 	 	 	 
	 	 	 	/s/ Henk Buurman
	 	 	 	
              Henk
                Buurman

            

    

     

    
      

    

    
      
         

      

      
        7Unassociated Document

    
      	
              Exhibit
                10.4

            	
              LOCK-UP
                AGREEMENT

            	
               

            

    

     

    
      
        	 	 	
                Collexis
                  US, Inc

              
	 	 	
                1201
                  Main Street, Suite 980

              
	 	 	
                Columbia,
                  SC 29201

              
	
                June
                  30, 2008

              	 	
                USA

              
	 	 	 
	
                Mr.
                  Henk Buurman, Individually

              	 	
                (803)
                  727-1113 Main

              
	
                Woubrugge
                  XP (The Netherlands)

              	 	
                (803)
                  727- 1118 Fax

              
	
                Virulystraat
                  6 (2481 PT)

              	 	 
	 	 	
                www.collexis.com

              
	
                V.D.B.
                  Pacific B.V.

              	 	 
	
                %Mr.
                  Henk Buurman , CEO

              	 	 
	
                Woubrugge
                  XP (The Netherlands)

              	 	 
	
                Virulystraat
                  6 (2481 PT)

              	 	 

      

    

    
Dear
      Mr.
      Buurman:

    

    As
      an
      inducement to Collexis Holdings, Inc. (“CHI”) and Collexis B.V. (“BV,” together
      with CHI, “Collexis”) to enter into that certain Separation and Settlement
      Agreement entered into of even date herewith with you in your individual
      capacity (“Buurman” or “you”) and V.D.B. Pacific B.V. (the “Buurman Company”),
      you, for and on behalf of yourself individually and the Buurman Company, and
      Buurman Company (a) hereby represent and warrant that you own all of the issued
      and outstanding shares of and have the authority to act for and on behalf of
      the
      Buurman Company; Buurman Company has the authority to execute, deliver and
      perform under this Lock Up Agreement; and all of the Collexis Securities (as
      defined below) are owned by the Buurman Company; and (b) agree, that from the
      date hereof until close of business on the 30th
      day of
      June 2009 (such period being the “Restricted Period”), neither you nor the
      Buurman Company, will sell, offer, pledge, contract to sell, grant any option
      for the sale of, hypothecate, transfer or otherwise dispose of any of the
      Collexis Shares (as defined below)(whether in whole or in part) beneficially
      owned by or issuable to the Buurman Company, including, without limitation,
      the
      Option Shares (as may be issued pursuant to the terms of and as such phrase
      is
      defined under that certain certain agreement entitled “Collexis Option Agreement
      Model,” dated as of the 4th
      day of
      April 2007, which agreement has been assumed by CHI (the “Stock Option
      Agreement”)) or any securities of CHI issued in exchange therefor (collectively,
      the “Collexis Securities”). Notwithstanding the foregoing and any provision of
      the Stock Option Agreement to the contrary, Buurman Company may sell in any
      one
      calendar month following the date hereof not more than 75,000 Option Shares
      purchased pursuant to any exercise of the Option (as such term is defined in
      the
      Stock Option Agreement); provided, however,
      that
      any such purchase and sale shall otherwise be in compliance with the Stock
      Option Agreement.

    

    CHI
      hereby agrees to notify its transfer agent of the provisions of this Lock-Up
      Agreement. Each of the undersigned unconditionally acknowledges and agrees
      that
      CHI will be permitted to require that its transfer agent place a stop transfer
      instruction on all of the Collexis Securities beneficially owned by the
      undersigned and that a restrictive legend be placed upon the certificate or
      certificates representing such Collexis Securities, in each case reflecting
      this
      Lock-Up Agreement.

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    This
      Lock-Up Agreement and the rights of the parties hereunder shall be exclusively
      governed by and construed in accordance with the laws of the State of South
      Carolina. Each Party hereto agrees that it will not bring any suit, action,
      or
      other proceeding to enforce the provisions of this Agreement in any court other
      than the state court situated in Richland County, South Carolina, USA, or if
      such court does not have jurisdiction with respect to such proceeding, the
      federal court sitting in or nearest to Columbia, South Carolina, USA. Each
      Party
      hereto irrevocably and unconditionally submits to the exclusive jurisdiction
      of
      any such state or federal court over any such proceeding and agrees that it
      will
      not attempt to deny or defeat personal jurisdiction by motion or other request
      for leave from any such court. Each Party irrevocably and unconditionally waives
      any objection to the laying of venue of any such suit, action or proceeding
      brought in any such court and any claim that any such suit, action, proceeding
      has been brought in an inconvenient forum.

    

    This
      Lock-Up Agreement may be duly executed by facsimile and in any number of
      counterparts, each of which shall be deemed an original, and all of which
      together shall be deemed to constitute one and the same instrument. Signature
      pages from separate identical counterparts may be combined with the same effect
      as if the parties signing such signature page had signed the same counterpart.
      This Lock-Up Agreement may be modified or waived only by a separate writing
      signed by each of the parties hereto expressly so modifying or waiving such
      agreement. 

    

    
      	
              Agreed
                as of July 31st, 2008

            	
              Very
                truly yours,

            
	 	 
	 	
              Collexis
                Holdings, Inc.

            
	 	 
	 	
              By:

            	/s/
William
              D. Kirkland       
	 	 	
              William
                D. Kirkland

            
	 	 	
              President
                & CEO

            

    

    

    THE
      COLLEXIS SHARES:

    

    Number
      of
      shares of Common Stock owned: 1,865,200

    Certificate
      Number: 131

    Shares
      Registered in the Name of: V.D.B. Pacific B.V.

    

    ACKNOWLEDGED
      AND AGREED:

    

    Buurman

    

    
      	
              /s/
                Henk Buurman

            
	
              Mr.
                Henk Buurman, Individually

            

    

    

    V.
      D. B. Pacific B.V.

    

    
      	
              By:

            	
              /s/
                Henk Buurman 

            
	 	
              Mr.
                Henk Buurman

            
	 	
              Sole
                Authorized Officer

            

    

     

    

    
      
        
        

      

      
        2

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