Document:

ex10_1.htm

Exhibit 10.1

 

Non-Employee Director Compensation Policy (effective March 1, 2015)

	
Board Member Annual Cash Retainer

	
$45,000

	  	  
	
Board Member Annual Equity Retainer

	
$45,000

	  	  
	
Lead Independent Director Annual Cash Retainer

	
$96,000

	  	  
	
Committee Member Annual Cash Retainer

	
$4,500

	  	  
	
Audit Committee Chair Annual Cash Retainer

	
$10,000

	  	  
	
Compensation Committee Chair Annual Cash Retainer

	
$10,000

	  	  
	
Nominating and Governance Committee Chair Annual Cash Retainer

	
$5,000

The Cash Retainers are based on the calendar year and, except for the Lead Independent Director Annual Cash Retainer, shall be paid quarterly at the end of each quarter.  For example, the Board Member Annual Cash Retainer is paid as follows:  $11,250 on March 31, $11,250 on June 30, $11,250 on September 30 and $11,250 on December 31.  The Lead Independent Director Annual Cash Retainer shall be paid monthly on the last day of each month.  A Committee chairperson shall receive his/her Committee chair retainer fee in addition to his/her Committee member retainer fee.  Retainer fees will not be pro-rated in the event of resignation (i.e., the resigning member would not be entitled to receive retainer fees if the resignation is effective mid-quarter).

The Lead Independent Director Annual Cash Retainer shall be paid for service as Lead Independent Director and shall be in lieu of receiving any other Cash Retainer that the Lead Independent Director would otherwise be entitled to receive for service as a member of the Board, as a chair of any standing Committee of the Board or as a non-chair member of any standing Committee of the Board.  The Lead Independent Director shall, nonetheless, be entitled to the Board Member Annual Equity Retainer.

The Board Member Annual Equity Retainer shall be paid in options to purchase the Corporation’s common stock (“Options”).  Option grants will be made effective at the close of business on the date of the annual meeting of stockholders (such date being the grant date for purposes of determining the exercise price of the Options).  The exercise price of all Options granted under this Policy shall be the Corporation’s closing stock price on the date of grant, or, if the date of grant is not a trading day, then the first trading day after the date of grant.  The number of Options to be granted shall equal $45,000 divided by the Corporation’s closing stock price on the date of grant, or, if the date of grant is not a trading day, then the first trading day after the date of grant.  Options will vest on a pro rata daily basis over the period from the date of grant until the one-year anniversary of the date of grant, so long as such director remains a member of the Board.  Notwithstanding the foregoing, in the event that the annual meeting does not occur within one year of the previous year’s annual meeting, then the Board shall grant the Board Members additional Options, with terms and vesting determined by the Board in its reasonable discretion, to compensate the Board Members for delayed payment of the Board Member Annual Equity Retainer.

 

  

  

  

 

With respect to a member who is appointed to the Board other than at the annual meeting of the stockholders, such member shall receive a Board Member Annual Equity Retainer upon appointment that shall be determined as above but pro-rated for the period beginning on the date of appointment and ending immediately prior to the next annual meeting of stockholders.  Additionally, any cash retainer fees due at the end of the quarter that such member joined the Board shall be pro-rated for the period beginning on the date of appointment and ending at the end of such quarter.  Newly appointed members of the Board shall also receive an initial equity grant of an option to purchase 50,000 shares of common stock which vests 20% immediately and 20% on each anniversary of the grant date for four years thereafter.

 

Each Board Member shall be entitled to receive a Committee Member Annual Cash Retainer of $4,500 for service in a non-chair capacity on one standing Committee of the Board.  Each Board Member who serves in the capacity of chairperson of a Committee shall receive the corresponding Committee Chair Annual Cash Retainer as stated above, as well as the Committee Member Annual Cash Retainer for service on such Committee.  In no event shall a Board Member be eligible to receive more than two Committee Chair Annual Cash Retainers and two Committee Member Annual Cash Retainers.CONSULTING
AGREEMENT

 

THIS
CONSULTING AGREEMENT (this “Agreement”) is made
effective the 18th day of March 2015, by and between Brett Hurdley;
a UK individual (“Consultant”), and Solaris Power Cells Inc.; a
Nevada corporation (“Company”) with respect to the following:

 

RECITIALS

 

WHEREAS,
Consultant can render valuable services to Company in connection
with general business and financial consulting; and

 

WHEREAS,
Company desires to retain Consultant to perform such services.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the mutual promises, covenants
and agreements contained herein, and for other good and valuable consideration, the receipt and adequacy of which is expressly
acknowledged, Company and Consultant agree as follows:

 

A.Engagement
of Consultant.

 

Company
hereby retains Consultant to assist Company by:

 

	 	a.	Providing
    general business and consulting services within the real estate and development sector (“Consulting Services”)
    for the United Kingdom
	 	 	 
	 	b.	Consultant
    will review and complete due diligence reports for each of the Company’s proposed acquisitions and joint ventures in
    the United Kingdom

 

B.Term
of Agreement.

 

The
term of this Agreement shall be six months from the effective date hereof with automatic annual renewal unless otherwise stated
in writing 30 days prior to effective date. Unless the contracted tasks are completed and a mutually agreed upon termination is
executed, (the “Consulting Period”).

 

C.Compensation.

 

Company
shall pay Consultant for Consulting Services: Three million Five hundred thousand shares of S8 registered common stock in advance.

 

D.Termination
of Agreement by the Company

 

Despite
anything to the contrary contained in this Agreement hereunder, Company may terminate this Agreement with 60 days written notice
to consultant.

 

E.Nondisclosure
of Confidential Information.

 

In
consideration for the Company entering into this Agreement, Consultant agrees that the following items used in the Company’s
business are secret, confidential, unique, and valuable, were developed by Company at great cost and over a long period of time,
and disclosure of any of the items to anyone other than Company’s officers, agents, authorized employees or any of the consultants
resources or contacts needed to complete assignment, may cause Company irreparable injury:

 

    	 

    	 

    

 

	 	1.	Non
    public financial information, accounting information, plans of operations, possible mergers or acquisitions prior to the public
    announcement;
	 	 	 
	 	2.	Customer
    lists, call lists, and other confidential customer data;
	 	 	 
	 	3.	Memoranda,
    notes, records concerning the technical processes conducted by Company;
	 	 	 
	 	4.	Sketches,
    plans, drawings and other confidential research and development data; or
	 	 	 
	 	5.	Manufacturing
    processes, chemical formulae, and the composition of Company’s products.

 

F.Due
Diligence

 

Company
shall supply and deliver to Consultant all information relating to its business as may be reasonably requested by Consultant to
enable Consultant to make such investigation of Company and its business prospects, and Company shall make available to Consultant
names, addresses and telephone numbers as Consultants may need to verify or substantiate any such information provided.

 

G.Best
Efforts Basis.

 

Consultant
agrees that Consultant shall at all times faithfully and to the best of Consultant’s experience, ability and talents, perform
all the duties that may be required of and from Consultant pursuant to the terms of this Agreement on a best efforts basis, and
does not guarantee any particular results from the performance of the services.

 

H.Company’s
Right to Approve Transactions.

 

Company
expressly retains the right to approve, in its sole discretion, each and every transaction introduced by Consultant that involves
Company. Consultant and Company mutually agree that Consultant is not authorized to enter into agreements on behalf of Company.

 

I.Costs
and Expenses.

 

Consultant
shall be responsible for all un-approved out-of-pocket expenses, travel expenses, third party expenses, filing fees, copy and
mailing expenses that Consultant may incur in performing Consulting Services under this Agreement.

 

J.
Work Stoppage or Early Termination.

 

Notwithstanding
anything to the contrary contained herein, Company shall have the right to terminate the work assignment or request consultant
to cease work. Stoppage of work will not relieve Company of financial obligations to Consultant.

 

K.
Place of Services.

 

The
Consulting Services contemplated to be performed by Consultant or Consultant’s agents will be performed through Consultant’s
offices. However, it is understood and expected that Consultant may make contacts with persons and entities in any other places
within or outside the United States deemed appropriate by Consultant.

 

L.
Non-Exclusive Services.

 

Company
acknowledges that Consultant is currently providing services of the same or similar nature to other parties and Company
agrees that Consultant is not prevented or barred from rendering services of the same nature or a similar nature to any other
individual or entity. Consultant understands and agrees that Company shall not be prevented or barred from retaining other
persons or entities to provide services of the same or similar nature as those provided by Consultant. Consultant will advise
Company of Consultant’s position with respect to any activity, employment, business arrangement or potential conflict
of interest which may be relevant to this Agreement.

 

    	 

    	 

    

 

M.
All Prior Agreements Terminated.

 

This
Agreement constitutes the entire understanding of the parties with respect to the engagement of Consultant, and all prior agreements
and understandings with respect thereto are hereby terminated and shall be of no force effect.

 

N.
Representations and Warranties of Company.

 

Company
hereby represents and warrants to Consultant that:

 

1.Corporate
Existence. Company is a corporation duly organized and validly existing, under the laws of the State of Minnesota,
with corporate power to own property and carry on its business as it is now being conducted.

 

2.No
Conflict. This Agreement has been duly executed by Company and the execution and performance of this Agreement will
not violate, or result in a breach of, or constitute a default in any agreement, instrument, judgment, decree or order to which
Company is a party or to which Company is subject, nor will such execution and performance constitute a violation or conflict
of any fiduciary duty to which Company is subject.

 

O.Representations
and Warranties of Consultant.

 

Consultant
hereby represents and warrants to Company that:

 

1.Prior
Experience. Consultant has experience in advising companies. Consultant has perform services contemplated by this Agreement
for the benefit of other companies.

 

2.Information.
No representation or warranty contained herein, nor a statement in any document, certificate or schedule furnished
or to be furnished pursuant to this Agreement by Consultant, or in connection with the transaction contemplated hereby, contains
or contained any untrue statement of material fact.

 

3.Agreement
Does not Contemplate Corrupt Practice. Domestic or Foreign. All payments under this Agreement constitute compensation
for services performed and this Agreement and all payments, and the use of the payments by Consultant, do and shall not constitute
an offer, payment or promise or authorization of payment of any money or gift to an official or political party of, or candidate
for political office in any jurisdiction within or outside the United States. These payments may not be used to influence any
act or decision of an official, party or candidate to use his/her/its influence with a government to assist Company in obtaining,
retaining, or directing business to Company or any person or other corporate entity. As used in this paragraph, the term “official”
means any officer or employee of a government, or any person acting in an official capacity for or on behalf of any government;
the term “government” includes any department, agency, or instrumentality of a government.

 

4.Subsequent
Events. Consultant will notify Company if, subsequent to the date hereof, either party incurs obligations which could
compromise its efforts and obligations under this Agreement.

 

    	 

    	 

    

 

P.
Consultant is Not an Agent or Employee.

 

Consultant’s
obligations under this Agreement consist solely of the Consulting Services described herein. In no event shall Consultant be considered
to act as the employee or agent of Company or otherwise represent or bind Company. For the purposes of this Agreement, Consultant
is an independent contractor. All final decisions with respect to acts of Company or affiliates, whether or not made pursuant
to or in reliance on information or advice furnished by Consultant hereunder, shall be those of Company or such affiliates and
Consultant shall under no circumstances be liable for any expense incurred or loss suffered by Company as a consequence of such
action or decisions.

 

Q.
Miscellaneous.

 

1.Authority.
The execution and performance of this Agreement have been duly authorized by all requisite corporate action. This Agreement
constitutes a valid and binding obligation of the parties hereto.

 

2.Amendment.
This Agreement may be amended or modified at any time and in any manner only by an instrument in writing executed by the
parties hereto.

 

3.Waiver.
All the rights and remedies of either party under this Agreement are cumulative and not exclusive of any other rights and
remedies provided bylaw. No delay or failure on the part of either party in the exercise of any right or remedy arising from
a breach of this Agreement shall operate as a waiver of any subsequent right or remedy arising from a subsequent breach of
this Agreement. The consent of any party where required hereunder to any act or occurrence shall not be deemed to be a consent
to any other act of occurrence.

 

4.Assignment:

 

a.Neither
this Agreement nor any right created by it shall be assignable by either party without the prior written consent of the other;
and

 

b.Nothing
in this Agreement, expressed or implied, is intended to confer upon any person, other than the parties and their successors, any
rights or remedies under this Agreement.

 

5.Notices.
Any notice or other communication required or permitted by this Agreement must be in writing and shall be deemed to be
properly given when delivered in person to an officer of the other party, when deposited in the Unites States mails for
transmittal by certified or registered mail, postage prepaid, or when deposited with a public telegraph company for
transmittal or when sent by facsimile transmission

 

6.Headings
and Captions. The headings of paragraphs are included solely for convenience. If a conflict exists between any heading
and the text of this Agreement, the text shall control.

 

7.Entire
Agreement. This instrument and the exhibits to this instrument contain the entire Agreement between the parties with
respect to the transaction contemplated by the Agreement It may be executed in any number of counterparts but the aggregate of
the counterparts together constitute only one and the same instrument.

 

8.Effect
of Partial Invalidity. In the event that any one or more of the provisions contained in this Agreement shall for any
reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality or unenforceability shall
not affect any other provisions of this Agreement, but this Agreement shall be constructed as if it never contained any such invalid,
illegal or unenforceable provisions.

 

9.Controlling
Law. The validity, interpretation, and performance of this Agreement shall be controlled by and construed under the
laws of Nevada.

 

10.Attorney’s
Fees. If any action at law or in equity, including an action for declaratory relief, is brought to enforce or interpret
the provisions of this Agreement, the prevailing party shall be entitled to recover actual attorney’s fee from the other
party. The attorney’s fees may be ordered by the court in the trial of any action described in this paragraph or may be
enforced in a separate action brought for determining attorney’s fees.

 

    	 

    	 

    

 

11.Time
is of the Essence. Time is of the essence of this Agreement and of each and every provision hereof.

 

12.Mutual
Cooperation. The parties hereto shall cooperate with each other to achieve the purpose of this Agreement, and shall
execute such other and further documents and take such other and further actions as may be necessary or convenient to effect the
transactions described herein.

 

13.Further
Actions. At time and from time to time, each party agrees, at its or their expense, to take actions and to execute
and deliver documents as may be reasonably necessary to effectuate the purposes of this Agreement.

 

14.Indemnification.
Company and Consultant agree to indemnify, defend and hold each other harmless from and against all demands, claims, actions,
losses, damages, liabilities, costs and expenses, including without limitation, interest, penalties and attorneys’ fees
and expenses asserted against or imposed or incurred by either party by reason of or resulting from a breach of any representation,
warranty, covenant condition or agreement of the other party to this Agreement.

 

15.No
Third Party Beneficiary. Nothing in this Agreement, expressed or implied, is intended to confer upon any person, other
than the parties hereto and their successors, any rights or remedies under or by reason of this Agreement, unless this Agreement
specifically states such intent.

 

16.Facsimile
Counterparts. If a party signs this Agreement and transmits an electronic facsimile of the signature page to the other
party, the party who receives the transmission may rely upon the electronic facsimile a signed original of this Agreement.

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement
on the date and year first written above.

 

	CONSULTANT:	 	COMPANY:
	 	 	Solaris
    Power Cells Inc.
	 	 	 
		 	
	 	 	 
	Authorized
    signatory	 	Authorized
    signatory
	Brett
    Hurdley	 	Lenny
    Caprino
	Date:
    03-18-15	 	Date:
    03-18-15

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