Document:

Exhibit 10.2

EXHIBIT 10.2

SNG Promissory Note

NOTE

THIS NOTE HAS NOT BEEN REGISTERED WITH THE UNITED STATES SECURITIES AND
EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE OR UNDER THE
SECURITIES ACT OF 1933, AS AMENDED. THE NOTE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR TRANSFERRED EXCEPT AS PERMITTED UNDER THE ACT PURSUANT TO REGISTRATION OR
EXEMPTION OR SAFE HARBOR THEREFROM.

 
 	No. 01-__-2007       
   	
   US $250,000

 

       

CELSIUS, INC.

0% UNSECURED NOTE 

THIS Note is one of a duly authorized issue US $250,000.00 of CELSIUS, INC.,
a corporation organized and existing under the laws of the State of Nevada ("Celsius")
designated as its 0% Unsecured Note.

FOR VALUE RECEIVED, Celsius promises to pay to SPECIALTY NUTRITION GROUP,
INC. the registered holder hereof (the "Holder"), the principal sum of
Two Hundred and Fifty Thousand United States Dollars (US $250,000) as follows:

Fifteen Thousand United States Dollars (US $15,000.00) each of the following
dates:

March 30, 2007; April 30, 2007; May 30, 2007; June 30, 2007; July 30, 2007;
  

  August 30, 2007; September 30, 2007; and October 30, 2007; and

 

One Hundred Thirty Thousand United States Dollars (US $130,000.00) on
November 30, 2007,

(the "Maturity Date"). Except in an "Event of Default" (defined
below), this note shall bear no interest through the Maturity Date. In an Event
of a Default, interest will accrue on unpaid balance, if any, at the then
current statutory interest provided under Florida law. The principal payments of
this Note, and any interest on amounts unpaid following an Event of Default or
the Maturity Date, are payable in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and
private debts, at the address last appearing on the Note Register of Celsius as
designated in writing by the Holder from time to time. Celsius will pay the
principal, less any amounts required by law to be deducted, to the registered
holder of this Note and addressed to such holder at the last address appearing
on the Note Register at such time payment is made. The forwarding of such check
shall constitute a payment of principal hereunder and shall satisfy and
discharge the liability for principal on this Note to the extent of the sum
represented by such check plus any amounts so deducted.

This Note is subject to the following additional provisions:

1. Celsius shall be entitled to withhold from all payments of principal of
this Note, and any post-Maturity interest due on, this Note any amounts required
to be withheld under the applicable provisions of the United States income tax
laws or other applicable laws at the time of such payments, and Holder shall
execute and deliver all required documentation in connection therewith.

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2. This Note has been issued subject to investment representations of the
original purchaser hereof and may be transferred or exchanged only in compliance
with the Securities Act of 1933, as amended (the "Act"), and other
applicable state and foreign securities laws. In the event of any proposed
transfer of this Note, Celsius may require, prior to issuance of a new Note in
the name of such other person, that it receive reasonable transfer documentation
including legal opinions that the issuance of the Note in such other name does
not and will not cause a violation of the Act or any applicable state or foreign
securities laws. Prior to due presentment for transfer of this Note, Celsius and
any agent of Celsius may treat the person in whose name this Note is duly
registered on Celsius' Note Register as the owner hereof for the purpose of
receiving payment as herein provided and for all other purposes, whether or not
this Note be overdue, and neither Celsius nor any such agent shall be affected
by notice to the contrary.

3. No recourse shall be had for the payment of the principal of, or the
interest on, this Note, or for any claim based hereon, or otherwise in respect
hereof, against any incorporator, shareholder, officer or director, as such,
past, present or future, of Celsius or any successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issue hereof, expressly waived
and released.

4. The Holder of the Note, by acceptance hereof, agrees that this Note is
being acquired for investment and that such Holder will not offer, sell or
otherwise dispose of this Note except under circumstances which will not result
in a violation of the Act or any applicable state Blue Sky or foreign laws or
similar laws relating to the sale of securities.

5. This Note shall be governed by and construed in accordance with the laws
of the State of Florida. Each of the parties consents to the jurisdiction of the
state and federal courts sitting in Palm Beach County, Florida and hereby
waives, to the maximum extent permitted by law, any objection, including any
objection based on forum non coveniens, to the bringing of any such proceeding
in such jurisdiction.

6. The following shall constitute an "Event of Default":

	Celsius shall default in the payment of principal on this Note and same
  shall continue for a period of five (5) days; or
	Any of the representations or warranties made by Celsius herein or other
  written statements heretofore or hereafter furnished by Celsius in connection
  with the execution and delivery of this Note or the Agreement shall be false
  or misleading in any material respect at the time made; or
	Celsius shall fail to perform or observe, in any material respect, any
  other covenant, term, provision, condition, agreement or obligation of this
  Note and such failure shall continue uncured for a period of thirty (30) days
  after written notice from the Holder of such failure; or
	Celsius shall (1) admit in writing its inability to pay its debts
  generally as they mature; (2) make an assignment for the benefit of creditors
  or commence proceedings for its dissolution; or (3) apply for or consent to
  the appointment of a trustee, liquidator or receiver for its or for a
  substantial part of its property or business; or
	A trustee, liquidator or receiver shall be appointed for Celsius or for a
  substantial part of its property or business without its consent and shall not
  be discharged within ninety (90) days after such appointment; or
	Any governmental agency or any court of competent jurisdiction at the
  instance of any governmental agency shall assume custody or control of the
  whole or any substantial portion of the properties or assets of the Celsius
  and shall not be dismissed within ninety (90) days thereafter; or 
	Bankruptcy, reorganization, insolvency or liquidation proceedings or other
  proceedings for relief under any bankruptcy law or any law for the relief of
  debtors shall be instituted by or against Celsius and, if instituted against
  Celsius, shall not be dismissed within ninety (90) days after such institution
  or Celsius shall by any action or answer approve of, consent to, or acquiesce
  in any such proceedings or admit the material allegations of, or default in
  answering a petition filed in any such proceeding; or

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Then, or at any time thereafter, and in each and every such case, unless such
Event of Default shall have been waived in writing by the Holder (which waiver
shall not be deemed to be a waiver of any subsequent default) at the option of
the Holder and in the Holder's sole discretion, the Holder may consider the
Redemption Amount of this Note immediately due and payable within five (5) days
of notice, without presentment, demand, protest or notice of any kinds, all of
which are hereby expressly waived, anything herein or in any note or other
instruments contained to the contrary notwithstanding, and the Holder may
immediately enforce any and all of the Holder's rights and remedies provided
herein or any other rights or remedies afforded by law.

7. Nothing contained in this Note shall be construed as conferring upon the
Holder the right to vote or to receive dividends or to consent or receive notice
as a shareholder in respect of any meeting of shareholders or any rights
whatsoever as a shareholder of Celsius, unless and to the extent converted in
accordance with the terms hereof.

IN WITNESS WHEREOF, Celsius has caused this instrument to be duly executed by
an officer thereunto duly authorized.

Dated: January ____, 2007

CELSIUS, INC.

a Nevada Corporation

/s/ Stephen C. Haley

By: 

Stephen C. Haley, President

3EMPLOYMENT AGREEMENT

 EXHIBIT 10.3

 EMPLOYMENT AGREEMENT

 

      This Employment Agreement is made
 on this 19th day of January 2007 between ELITE FX, INC. ("Employer") and
 Stephen C. Haley ("Employee").

 

      WHEREAS, Employer is actively
 engaged in the business of a manufacturing and distributing of non-alcoholic
 beverages; and, 

 

      WHEREAS, Employer wishes to
 continue employing Employee and Employee wishes to continue to be employed
 pursuant to the terms of this Employment Agreement.

 

      WHEREAS, if and when Employer's
 securities become registered or exchanged for securities registered with the
 Securities and Exchange Commission ("SEC"), it may be required to form a
 compensation committee (the "Compensation Committee"), which may in many cases
 determine any changes to Employee's compensation. In such instance, the
 relevant references to Employer herein shall be deemed to be references to
 Compensation Committee.

 

      NOW THEREFORE, in consideration of
 the mutual covenants and agreements contained in this Employment Agreement, and
 other good and valuable consideration, the receipt and sufficiency of which is
 hereby acknowledged, the parties, intending to be legally bound, agree as
 follows:

 Article 1

 Employment of Employee

 

      Employer agrees to employ Employee,
 and Employee accepts employment with Employer, on and subject to the terms and
 conditions set forth in this Employment Agreement.

 Article 2

 Duties of Employee

 

      Section 2.1. Position and Duties.
 Employer agrees to employ Employee to act as Vice President - Marketing
 for Employer. Employee shall be responsible for performing the following
 duties: executive management and other duties typically performed by persons
 employed in a similar capacity. Employer reserves the right from time to time
 to change the nature of Employee's duties and job title; provided, however,
 Employee's duties and job title shall always be of an executive nature.

 

      Section 2.2. Time Devoted to Work. Employee
 agrees to devote Employee's entire business time, attention, and energies to
 the business of Employer in accordance with Employer's instructions and
 directions and shall not be engaged in any other business activity, whether or
 not the activity is pursued for gain, profit, or other pecuniary advantage,
 during the term of this Employment Agreement without Employer's prior written
 consent.

 

 

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 Article 3

 Place of Employment

 

      Section 3.1. Place of Employment. Employee shall be based at
 Employer's principal office at 140 NE 4th Avenue, Suite C, Delray
 Beach, FL 33483, excluding reasonable travel commensurate with Employee's
 position and duties. Employer agrees that during the term of this Employment
 Agreement it shall not assign Employee to work at any location
 which is more than 100 miles from 
 said principal office without Employee's consent.

 

       Section 3.2. Moving
 Expenses. If Employer relocates its principal office more than 100 miles
 from its current principal office, or requests that Employee relocate to one of
 its offices which is more than 100 miles from its current principal office, and
 Employee consents to relocate to that new location, Employer shall promptly pay
 or reimburse Employee for all reasonable moving expenses incurred by Employee
 in connection with the relocation plus an amount to reimburse Employee for any
 federal and state income taxes that it has to pay on amounts reimbursed.
 Employer also shall indemnify Employee against any loss incurred in connection
 with the sale of Employee's principal residence. The amount of any loss shall
 be determined by taking the difference between the average of two appraisal
 prices set by two independent appraisers agreed to by Employer and Employee and
 the actual sales price of Employee's principal residence.

 

 Article 4

 Compensation of Employee

 

      Section 4.1. Base Salary.
 For all services rendered by Employee under this Employment Agreement, Employer
 agrees to pay Employee an annual base salary of $100,000, which shall be
 payable to Employee in such installments, but not less frequently than monthly,
 as are consistent with Employee's practice for its other Employees. Employee's
 base salary will be increased to $120,000, upon Employer receiving $2.5 million
 in hard money financing. Subsequent to the aforementioned increase, Employee's
 base salary shall be reviewed at least once a year by Employer.

 

      Section 4.2. Incentive
 Compensation. In addition to the base salary, Employee shall be entitled to
 receive incentive compensation according to a pre-established bonus plan
 specific for the Employee, as determined by Employer.

 

      Section 4.3. Reimbursement for
 Business Expenses. Employer shall promptly pay or reimburse Employee for
 all reasonable business expenses incurred by Employee in performing Employee's
 duties and obligations under this Employment Agreement, but only if Employee
 properly accounts for expenses in accordance with Employer's policies.

 

      Section 4.4. Stock Options and
 Other Stock Awards. The Employee shall be eligible for stock option grants
 and other stock awards pursuant to the Company's 2006 Incentive Stock Plan, and
 any successor plan thereto (the "Incentive Stock Plan") and all rules of
 regulation of the Securities and Exchange Commission applicable to stock option
 plans then in effect. The number of Stock Options and terms and conditions of
 the Stock Options shall be determined by the Employer's Board of Directors or
 the Compensation Committee, if formed.

 

 

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 Article 5

 Vacations and Other Paid Absences

 

      Section 5.1. Vacation Days.
 Employee shall be entitled to 20 days paid vacation each calendar year during
 the term of this Employment Agreement. All vacation is accrued during the
 calendar year of work, should Employee not take all vacation days in any
 calendar year, no days will be carried over to the next year. If the agreement
 is terminated during a calendar year, any accrued and not taken vacation will
 be paid at the base salary rate, any vacation taken but previously not earned
 will not be deducted from any amount due to the Employee.

 

      Section 5.2. Holidays.
 Employee shall be entitled to the same paid holidays as authorized by Employer
 for its other Employees.

     Section 5.3. Sick Days and Personal Absence Days.
 Employee shall be entitled to the same number of paid sick days and personal
 absence days authorized by Employer for its other Employees.

 Article 6

 Life Insurance

      Employer may, in its sole
 discretion, maintain in effect during the term of Employee's employment a life
 insurance policy on the life of Employee in such amount as Employer shall in
 its sole discretion decide to maintain during the term of this Employment
 Agreement. Any proceeds payable under the policy shall be paid to the
 beneficiary or beneficiaries designated in writing from time to time by
 Employee.

 Article 7

 Fringe Benefits

 

      Section 7.1. Employer Employee
 Benefit Plans. Employee shall be entitled to participate in and receive
 benefits from all of Employer's Employee benefit plans that currently are
 maintained by Employer for its Employees. Employee shall be entitled to
 participate in and receive benefits under any retirement plan, profit-sharing
 plan, or other Employee benefit plan that Employer establishes for the benefit
 of its Employees after the date of this Employment Agreement. No amounts paid
 to Employee from an Employee benefit plan shall count as compensation due
 Employee as base salary or incentive compensation. Nothing in this Employment
 Agreement shall prohibit Employer from modifying or terminating any of its
 Employee benefit plans in a manner that does not discriminate between Employee
 and other Employees of Employer.

      Section 7.2. Motor Vehicle.
 Employer may, in its sole discretion, provide Employee with the use of a motor
 vehicle to be selected in the reasonable discretion of Employer. If Employer
 does provide Employee with the use of a motor vehicle, Employer shall procure,
 maintain, and pay for appropriate insurance on the motor vehicle, including
 liability insurance of at least $250,000.00 per person and $500,000.00 per
 occurrence for personal injury and $300,000.00 for property damage.

 

 

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 Article 8

 Disability

 

      Section 8.1. Termination Because
 of a Disability. Except as may otherwise be required or prohibited by state
 or federal law, if because of illness or injury Employee becomes unable to work
 full time for Employer for more than sixty (60) days in any twelve month period
 (excluding vacation days and holidays), Employer may, in its sole discretion at
 any time after the accumulation of such time terminate Employee's employment
 upon written notice to Employee.

 

      Section 8.2. Compensation During
 Periods of Disability. 

 

      (a) Employee shall continue to receive Employee's
 base salary and incentive compensation while Employee is unable to work full
 time, until the earlier of: (i) the accumulation of sixty (60) days of
 disability in any 12 month period; (ii) the date Employee begins receiving
 disability insurance benefits equal to Employee base salary and incentive
 compensation; or (iii) the date Employee terminates Employee's employment with
 Employer because Employee's health becomes so impaired that continued
 performance of Employee's duties under this Employment Agreement would be hazardous to
 Employee's physical or mental health.

 

      (b) While Employee is unable to
 work full time because of illness or injury and through the full term of this
 Employment Agreement, including extensions, Employer shall maintain for
 Employee's benefit all Employee benefit plans in which Employee was
 participating at the time Employee was replaced. If Employee is barred from
 participating in any Employee benefit plan because of Employee's disability,
 Employer shall pay Employee an amount equal to what Employer would have
 contributed on Employee's behalf to the Employee benefit plan if Employee's
 participation had not been barred.

        (c) Employee is not
 required to seek other employment to mitigate any amounts payable under this
 Employment Agreement. Nor will amounts due Employee under this Employment
 Agreement be reduced by any amounts received by Employee for other employment.

 

      Section 8.3. Disability
 Insurance. Employer may, in its sole discretion, purchase and maintain
 disability insurance in force for the benefit of Employee throughout the term
 of this Employment Agreement, including extensions. The policy shall provide
 that if Employer fails to make a premium payment, Employee shall have the right
 in Employee's sole discretion to advance such funds as may be required to
 maintain the policy in force and shall thereafter be entitled to recover
 amounts paid from Employer.

 

 

 

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 Article 9

 Termination of Employment

 

      Section 9.1. Term of Employment.
 Employee's employment shall commence on the date of execution by Employer and
 shall continue for three (3) years ("end-of-employment date"), unless extended
 or terminated sooner, as provided by this article of the Employment Agreement.
 However, no compensation or benefits described hereunder shall be due or
 payable unless and until the closing of Employer's merger with Vector Ventures
 Corp. Should Employer's merger with Vector Ventures Corp. fail to close on or
 before May 3, 2007, all provisions other than those contained in Article 10
 shall automatically terminate and become null and void retroactive to its
 commencement and Employer shall not be obligated to pay Employee any
 compensation or benefits stated herein or continue the same thereafter.

 

      Section 9.2. Extension of
 Employment. On the end-of-employment date and every two (2) years
 thereafter, Employee's employment with Employer automatically shall be extended
 for an additional two (2) years unless, at least ninety (90) days prior to the
 end-of-employment date, or successive two (2) year anniversary thereof,
 Employer or Employee delivers to the other a written notice that Employee's
 employment with Employer is not to be extended, in which event Employer shall
 pay Employee pursuant to Section 9.8.

 

      Section 9.3. Termination at
 Employee's Death. Employee's employment with Employer shall terminate at
 Employee's death.

 

      Section 9.4. Termination by
 Employee. Employee may, but is not obligated to, terminate this Employment
 Agreement at any time under the following circumstances:

 

      (a) There is a change in control of Employer,
 excluding the planned merger with Vector Ventures Corp. For purposes of this
 Agreement, the term "Change in Control" shall mean:

            (i) Approval by
 Employer's shareholders of (x) a reorganization, merger, consolidation or other
 form of corporate transaction or series of transactions, in each case, with
 respect to which persons who were Employer's shareholders immediately prior to
 such reorganization, merger or consolidation or other transaction do not,
 immediately thereafter, own more than 50% of the combined voting power entitled
 to vote generally in the election of directors of the reorganized, merged or
 consolidated company's then outstanding voting securities, in substantially the
 same proportions as their ownership immediately prior to such reorganization,
 merger, consolidation or other transaction, or (y) Employer's liquidation or
 dissolution or (z) the sale of all or substantially all of Employer's assets
 (unless such reorganization, merger, consolidation or other corporate
 transaction, liquidation, dissolution or sale is subsequently abandoned); 

  

            (ii)
 Individuals who, as of the date of this Agreement, constitute the Board (the
 "Incumbent Board") cease for any reason to constitute at least a majority of
 the Board, provided that any person becoming a director subsequent to the date
 of this Agreement whose election, or nomination for election by Employer's
 shareholders, was approved by a vote of at least a 

 

 

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 majority of the directors then comprising the Incumbent Board (other than an
 election or nomination of an individual whose initial assumption of office is
 in connection with an actual or threatened election contest relating to the
 election of Employer's directors, as such terms are used in Rule 14a-11 of
 Regulation 14A promulgated under the Securities Exchange Act) shall be, for
 purposes of this Agreement, considered as though such person were a member of
 the Incumbent Board; or

 

     (b) Employee is assigned duties that are
 significantly different than those described in this Employment Agreement, or
 duties assigned Employee by this Employment Agreement are eliminated or
 transferred to someone else.

 

      (c) Employee is removed from any of
 the positions described in Section 2.1 of this Employment Agreement (other than
 by Employer for cause).

 

      (d) Employee's fringe benefits or
 other compensation are materially reduced.

 

      (e) Employer fails to have a
 successor assume this Employment Agreement.

 

      (f) Employer becomes insolvent or
 files a bankruptcy petition.

 

      Section 9.5. Termination by
 Employer. 

 

      (a) Termination for Cause.
 Employer may terminate Employee's employment for cause.

 

      (b) For purposes of this Agreement, the term
 "Cause" shall mean (i) an action or omission of the Employee which constitutes
 a willful and material breach of, or failure or refusal (other than by reason
 of his disability) to perform his duties under, this Agreement which is not cured within fifteen (15) days after receipt by the Employee
 of written notice of same, (ii) fraud, embezzlement, misappropriation of funds
 or breach of trust in connection with his services hereunder, (iii) conviction
 of any crime which involves dishonesty or a breach of trust, or (iv) gross
 negligence in connection with the performance of the Employee's duties
 hereunder, which is not cured within fifteen (15) days after written receipt by
 the Employee of written notice of same, or (v) Employee violates Article 10 or
 Article 11 of this Employment Agreement.

 

      Section 9.6. Notice of
 Termination. Any termination of Employee's employment by Employer or
 Employee must be communicated to the other party by a written notice of
 termination. The notice must specify the provision of this Employment Agreement
 authorizing the termination and must set forth in reasonable detail the facts
 and circumstances providing the basis for termination of Employee's employment.
 The Employee shall have the right to address the Board regarding the acts set
 forth in the notice of termination.

 

      Section 9.7. Date Termination Is
 Effective. If Employee's employment terminates because this Employment
 Agreement expires, then Employee's employment will be considered to have
 terminated on that expiration date. If Employee's employment terminates because
 of Employee's death, then 

 

 

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 Employee's employment will be considered to have terminated
 on the date of Employee's death. If Employee's employment is terminated by
 Employee, then Employee's employment will be considered to have terminated on
 the date that notice of termination is given. If Employee's employment is
 terminated by Employer for cause, then Employee's employment will be considered
 to have terminated on the date specified by the notice of termination. If,
 within thirty (30) days after a notice of termination is given, the party
 receiving the notice notifies the other party that there is a dispute
 concerning the termination, then Employee's employment will not be considered
 to have terminated, and Employer shall continue to compensate Employee pursuant
 to this Employment Agreement, until the dispute is ended by a written agreement
 between the parties or a final judgment, order, or decree of a court of
 competent jurisdiction. A judgment, order, or decree of a court of competent
 jurisdiction will be considered final only if the time for appealing the
 decision has expired and no notice of appeal has been filed.

 

      Section 9.8. Compensation
 Following Termination. 

 

      (a) If Employee's employment is
 terminated by Employer for cause, or by Employee other than pursuant to Section
 9.4, Employer shall pay Employee/Employee's then current base salary through
 the date employment is terminated, and Employer shall have no further
 obligations to Employee under this Employment Agreement.

 

      (b) If Employee's employment is terminated by
 Employer other than for cause, or by Employee pursuant Section 9.4, Employer
 shall pay Employee Employee's then current base salary through the date
 employment is terminated and any legal fees and expenses incurred by Employee
 to enforce Employee's rights under this Employment Agreement. In addition,
 Employer shall pay Employee as liquidated damages an amount equal to the sum of
 Employee's then current annual base salary plus the annualized amount of
 incentive compensation paid to Employee within the last year before the date
 Employee's employment was terminated, multiplied by the number of full and
 partial years remaining in the term of this Employment Agreement.

  

      (c) If Employee's employment is terminated by
 Employer other than for cause, or by Employee pursuant Section 9.4, Employer
 shall pay Employee Employee's then current base salary through the date
 employment is terminated and any legal fees and expenses incurred by Employee
 to enforce Employee's rights under this Employment Agreement. In addition,
 Employer shall pay Employee as liquidated damages an amount equal to the sum of
 Employee's then current annual base salary plus the annualized amount of
 incentive compensation paid to Employee within the last year before the date
 Employee's employment was terminated, multiplied by the greater of (i) the
 number of full and partial years remaining in the term of this Employment
 Agreement, or (ii) two years. In addition, all employee benefits according to
 sections 6 and 7 will be maintained for the greater of: (i) the number of full
 and partial years remaining in the term of this Employment Agreement, or (ii)
 two years. If by law any benefit cannot be maintained due to termination of
 employment, the cash value of said benefit will be paid to Employee in a lump
 sum payment within 15 days after termination of said benefit.

 

 

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 Article 10

 Confidential Information

 

      Section 10.1. Confidential
 Information Defined. "Confidential Information" as used in this Employment
 Agreement shall mean any and all technical and non-technical information
 belonging to, or in the possession of, Employer or its officers, directors,
 Employees, affiliates, subsidiaries, clients, vendors, or Employees, including
 without limitation, patent, trade secret, and proprietary information;
 techniques, sketches, drawings, models, inventions, know-how, processes,
 apparatus, equipment, algorithms, source codes, object codes, software
 programs, software source documents, and formulae related to Employer's
 business or any other current, future and/or proposed business, product or
 service contemplated by Employer; and includes, without limitation, all
 information concerning research, experimental work, development, design details
 and specifications, engineering, financial information, procurement
 requirements, purchasing, manufacturing, customer lists, vendor lists, business
 forecasts, sales and merchandising, and marketing plans or similar information.

 

      Section 10.2 Disclosures.
 Employee agrees that it shall, at no time during or after termination of this
 Employment Agreement, directly or indirectly make use of, disseminate, or in
 any way disclose Confidential Information to any person, firm or business,
 except to the extent necessary for performance of this Employment Agreement.
 Employee agrees that it shall disclose Confidential Information only to
 Employer's other Employees who need to know such information and who have
 previously agreed to be bound by the terms and conditions of a substantially
 similar confidentiality provision and shall be liable for damages for the
 intentional or negligent disclosure of Confidential Information. Employee's
 obligations with respect to any portion of Confidential Information shall
 terminate only when Employee has documented to Employer that (a) such
 information was lawfully in the public domain at the time it was communicated
 to Employee by Employer; or (b) the communication was in response to a valid
 order by a court of competent jurisdiction or was necessary to establish the
 rights of Employer under this Employment Agreement.

 

      Section 10.3. Survival. This
 Article 10 shall survive any termination of this Agreement and all extended
 periods.

 Article 11

 Noncompetition Agreement

 

      Section 11.1. Agreement Not To
 Compete. For two (2) years after Employee's employment with Employer
 terminates, including employment following the termination of this Employment
 Agreement, Employee agrees not to directly or indirectly own, manage, control,
 or operate; serve as an officer, director, partner, employee or consultant of;
 have any direct or indirect financial interest in; or assist in any way; any
 person or entity that competes with any business conducted by Employer or any
 of Employer's affiliates or subsidiaries in any geographic region in which
 Employer conducts business.

     Section 11.2. Competitive
Businesses. For purposes of this Article 11, a competitive business shall be
any person or entity directly or indirectly engaged in the manufacturing,
import, export, sale or  distribution of non-alcoholic beverages.

  

 

  

 

 

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     Section 11.3. Ownership of
 Public Corporation No Violation. Employee will not be considered to have
 violated this provision merely because Employee owns no more than five percent
 (5%) of the stock of any publicly held corporation.

 

      Section 11.4. Survival. This
 Article 11 shall survive any termination of this Agreement and all extended
 periods.

 

      Section 11.5. Extension of
 Agreement Not To Compete. At Employer's discretion, the Employer can cause
 Employee to extend the period of the agreement not to compete by paying in
 advance the Employee 30% of the Employee's last annual base salary and bonuses
 per year of extension. The Employer can cause the extension for a total of 3
 annual periods.

 

 Article 12

 Notices

 

      Any notice given under this Employment Agreement to
 either party shall be made in writing. Notices shall be deemed given when
 delivered by hand or when mailed by registered or certified mail, return
 receipt requested, postage prepaid, and addressed to the party at the address
 set forth below.

      Employee's address:    Stephen C. Haley

                                       906 SW 36th Ct

                                      
  Boynton Beach, FL 33435

      Employer's address:     Elite FX, Inc.

                                       140 NE 4th Avenue, Suite C

                                       Delray Beach, FL 33483

 Each party may designate a different address for receiving
 notices by giving written notice of the different address to the other party.
 The written notice of the different address will be deemed given when it is
 received by the other party.

 Article 13

 Binding Agreement

 

      Section 13.1. Employer's Successors.

      (a) The rights and obligations of
 Employer under this Employment Agreement shall inure to the benefit of and
 shall be binding in all respects upon the successors and assigns of Employer.

 

      (b) Employer shall require any direct or indirect
 successor (by purchase, merger, consolidation, or otherwise) of all or
 substantially all of Employer's stock, business and/or assets to expressly
 agree to assume Employer's obligations under this Employment Agreement and
 perform them in the same manner and to the same extent as Employer would have
 been required 

 

 

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 to do if no succession had occurred. The agreement must be in a form and
 substance satisfactory to Employee.

 

      (c) If Employer fails to obtain
 such an agreement before the effective date of the succession, Employer's
 failure will be considered a breach of this Employment Agreement, and Employee
 shall be entitled to the immediate payment of the amount of money that Employee
 would have been entitled to if Employer had terminated Employee's employment
 other than for cause in accordance with the terms of Section 9.8(c) of this
 Employment Agreement, calculated as though Employee's employment had terminated
 on the effective date of the succession. However, Employer's failure to obtain
 such agreement shall not affect said successor's obligations pursuant to
 paragraph 13.1(a) above.

 

      Section 13.2. Employee's
 Successors. This Employment Agreement shall inure to the benefit and be
 enforceable by and upon Employee's personal representatives, legatees, and
 heirs. If Employee dies while amounts are still owed, such amounts shall be
 paid to Employee's legatees or, if no such person or persons have been
 designated, to Employee's estate.

 Article 14

 Waivers

 

      The waiver by either party of a
 breach of any provision of this Employment Agreement shall not operate or be
 construed as a waiver of any subsequent breach.

 

 Article 15

 Entire Agreement

 

      Section 15.1. No Other
 Agreements. This instrument contains the entire agreement of the parties.
 The parties have not made any agreements or representations, oral or otherwise,
 express or implied, pertaining to the subject matter of this Employment
 Agreement other than those specifically included in this Employment Agreement.

      Section 15.2. Prior Agreements.
 This Employment Agreement supersedes any prior agreements pertaining to or
 connected with or arising in any manner out of the employment of Employee by
 Employer. All such prior agreements are terminated and are of no force or
 effect whatsoever.

 Article 16

 Amendment of Agreement

 

      No change or modification of this
 Employment Agreement shall be valid unless it is in writing and signed by the
 party against whom the change or modification is sought to be enforced. No
 change or modification by Employer shall be effective unless it is approved by
 Employer's Board of Directors and signed by an officer specifically authorized
 to sign such documents.

  

 

 

 

10

 Article 17

 Severability of Provisions

 

      If any provision of this Employment
 Agreement is invalidated or held unenforceable, the invalidity or
 unenforceability of that provision or provisions shall be deemed modified or
 severed only to the minimum extent necessary to make said provision(s) valid
 and enforceable while maintaining the intent of said provision(s). No such
 modification shall affect the validity or enforceability of any other provision
 of this Employment Agreement.

 Article 18

 Assignment of Agreement

 

       Employer shall not assign
 this Employment Agreement without Employee's prior written consent, but failure
 to obtain such consent shall not affect said assignee's obligations pursuant to
 paragraph 13.1(a) above, which consent will not be unreasonably withheld.

 Article 19

 Governing Law, Venue & Attorneys Fees

 

       All questions regarding the
 validity and interpretation of this Employment Agreement shall be governed by
 and construed and enforced in all respects in accordance with the laws of the
 State of Florida. Venue for any action arising in any manner out of the
 Employee's employment, this Employment Agreement, or any of the terms contained
 herein shall be the Federal and or State courts located in Palm Beach County,
 Florida, regardless of where this Employment Agreement is to be performed. In
 the event either party engages legal counsel to enforce any provision contained
 in this Employment Agreement, the prevailing party shall be entitled to all
 reasonable attorneys fees, investigative expenses, costs, and court costs,
 whether or not a suit is actually filed, but including all levels of appeal.

 

 [signature page follows]

  

  

  

 11

 

 

  

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

 

 

  

 EMPLOYEE:

             /s/ Stephen C. Haley

            
           
          
         
        
       
      
     
    
   
  
 
                                                                                                                        
 ______________________________________

                                                                                                                       
 Stephen C. Haley 

  

  

 EMPLOYER:

             ELITE FX, INC.

 

                   /s/ Jan Norelid

             By: ___________________________________

      Jan Norelid, Chief Financial Officer

            
           
          
         
        
       
      
     
    
   
  
 
  

 

 

12

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