Document:

Ex-10.20 Agreement

 

EXHIBIT 10.20

					
	SINOFRESH HEALTHCARE, INC.
	 	Voice: 941-488-5008
	 	SinoFresh HealthCare, Inc.

					
	 
	 	Fax: 941-488-8048
	 	516 Paul Morris Dr.

Englewood, FL 34223

October 21, 2003

Mr. Moty Hermon

[Address Omitted]

	 	 	 
	RE:

	 	Letter of Agreement

Dear Moty:

This letter will serve to confirm our agreement with you, or an entity you
control and may designate, to work with SinoFresh Healthcare, Inc. (“SFSH”) as
a founding partner in our new European venture (“SFSH-Europe”).

We are delighted to enter into this relationship with you in accordance with
the terms herein.

With regard to the SFSH-Europe project, we agree as follows:

(a) You shall be authorized, on behalf of SFSH, to use your best efforts to
seek out qualified partners, subject to reasonable SFSH approval, for the
manufacturing and distribution of products for the SFSH-Europe business.

(b) You will use your best efforts to assist in the formulation of the
SFSH-Europe strategic business plan and the recruitment, and retention, of
management.

(c) You will be offered a seat on the Board of Directors of SFSH-Europe, at
your discretion.

(d) The founder ownership of SFSH-Europe shall be: 20% to you or your
designated entity, 5% to Iris Hermon-Jones with the balance divided between
SFSH, the designated partner and management. The division of the ownership
interests between SFSH, the designated partner and management shall be
determined upon the completion of applicable definitive agreements. We agree
that the capital contributions for the founder interests of you and Iris in
SFSH-Europe shall be a total of $100 USD.

(e) We agree that, at any time for a period of’ five (5) years after founding
SFSH-Europe, you may “put” to SFSH an amount equal to one-half of’ your
interest in SFSH-Europe. The consideration for this transfer shall be the
issuance to you of 1,229,723 shares of common stock, representing 5% of the
fully diluted shares as of this date of SFSH (the

     /s/     as to SFSH

               as to Hermon

 

 

“Conversion Shares”). This number of shares shall be adjusted fur any future
stock splits, stock dividends or other recapitalization. These shares if not
already registered and free trading at the lime of issuance to you shall be
subject to one demand, and unlimited piggyback, registration rights.

(f) In the event that SFSH-Europe is not formed within one year from the date
of this agreement, or in the event that SFSH-Europe is formed but its ceases
operations or is otherwise terminated prior to the expiration of the “put”
option in section (e) above, then you shall have the right to exchange your
founder’s rights in SFSH-Europe for the Conversion Shares, upon your election,
with no additional consideration.

You will provide your financial consulting services for a period of two (2)
years. For all other purposes, this agreement shall extend for a period of
five (5) years.

If all of the foregoing accurately reflects our agreement, please sign in the
space provided below. Fax back to us your signed copy and also mail one hard
copy.

As before, we look forward to a mutually beneficial and enjoyable association.

Kindest personal regards.

Sincerely,

/s/ Charles A. Fust

Chairman and Chief Executive Officer

	 	 	 	 	 	 
	Agreed:

	 	

	 	

	

	 	Moty Hermon
	 	Date

     /s/     as to SFSH

               as to HermonEx-10.21 Agreement

 

Exhibit 10.21

Charles Fust

[Address Omitted]

October 22, 2003

Mr. Moty Hermon

2600 Island Blvd., #1904

Williams Island, Florida 33160

RE: Letter of Agreement

Dear Moty:

This letter will serve to confirm my agreement with you to serves as an
independent financial consultant to me with respect to SinoFresh Healthcare,
Inc. (“SFSH”) based from your home offices in Miami, Paris and Tel Aviv. In
this regard, you have agreed to give your best efforts to consult with me in
one or more of the following areas as you choose:

	 	–	 	the development and execution of capital market strategies and debt or equity
fund raisings

	 	–	 	the development of suitable investment banking and market marker
relationships

	 	–	 	the planning, or introduction, of SFSH to banks or financial institutions for
the purpose of asset based loans and other financing arrangements

As to your role as an independent financial consultant, you will not be paid a
salary or fee but I agree to reimburse you for all pre-approved costs and
expenses incurred in your rendition of services.

I am aware that you are entering into a relationship with SFSH to develop
SFSH’s European market. Under this agreement with SFSH, I am aware that you
have a “put” option which provides you with the unconditional right to transfer
back to SFSH one-half of your interest in SFSH-Europe in exchange for 1,229,723
shares of common stock of SFSH, or such other number of shares in the event of
a stock split, stock dividend or other recapitalization (the “Consideration
Shares”).

I hereby agree to guarantee the performance of SFSH to deliver to you the
Consideration Shares in the event you exercise your put option in accordance
with the terms of your

      /s/      as to Fust

               as to Hermon

 

 

agreement with SFSH. Further, in order to secure this guarantee of SFSH’s
obligation, I agree that within ten (10) days from the date of this letter
agreement, I shall place with your counsel, Steel, Hector & Davis, LLP (“Escrow
Agent”) a total of 1,229,723 shares of common stock of SFSH owned by me (the
“Escrow Shares”) along with stock powers executed in blank. I further agree
that the Escrow Shares and blank stock powers shall be held by the Escrow Agent
for so long as you have the right to exercise your put option and that in the
event of a stock split, stock dividend or other recapitalization, I shall make
any addition deposits of shares into escrow such that at all times the number
of shares held by the Escrow Agent represents the total number of Consideration
Shares.

In the event that you exercise your put option, the Escrow Agent shall be
authorized and directed to do the following:

     (a) in the event that SFSH issues to you the Consideration Shares on a
timely basis, then the Escrow Agent shall promptly return to me the Escrow
Shares and blank stock powers.

     (b) in the event that SFSH does not issue to you the Consideration Shares
on a timely basis, then the Escrow Agent be authorized to immediately release
to you the Escrow Shares and blank stock powers for the conveyance of ownership
of the Escrow Shares to you. In such event, any claim you have to the right to
receive the Consideration Shares shall be assigned to me.

I agree to indemnify and hold harmless the Escrow Agent for all liability and
costs of any kind in rendering its escrow services. I further agree to execute
any further documents or instruments as may be necessary or required to effect
the purposes of these agreements.

You will provide your financial consulting services for a period of two (2)
years. For all other purposes, this agreement shall extend for a period of
five (5) years.

If all of the foregoing accurately reflects our agreement, please sign in the
space provided below. Fax back to us your signed copy and also mail one hard
copy.

As before, we look forward to a mutually beneficial and enjoyable association.

Kindest personal regards.

Sincerely,

/s/ Charles A. Fust

	 	 	 	 	 	 
	Agreed:

	 	

Moty Hermon
	 	

Date

      /s/      as to Fust

               as to Hermon

/s/ as to FustEx-10.22 Supplemental Letter Agreement

 

Exhibit 10.22

Moty Hermon

[Address Omitted]

October 28,2003

Mr. Charles Fust

Chairman and Chief Executive Officer

SinoFresh Healthcare, Inc.

516 Paul Morris Drive

Englewood, Florida 34223

	 	 	 
	Re:

	 	Agreements between SinoFresh Healthcare, Inc. and Moty Hermon

Dear Charles:

I’m pleased to enclosed executed copies of our two letter agreements, namely my
agreement with SinoFresh Healthcare, Inc. (“SinoFresh) dated October 21, 2003
and my agreement with you dated October 22, 2003.

Pursuant to our discussions, this letter is to confirm our understanding that
these agreements are delivered based upon your commitment and our agreement,
personally and on behalf of SinoFresh, that all shares I may own in either
SinoFresh or the European venture SFSH-Europe will be freely tradable and
without restrictions on transferability on and after October 21, 2005.

I would appreciate if you would execute a copy of this letter and return to me.

I look forward to a long and mutually successful relationship.

Thank you.

	 	 	 
	

	 	Sincerely,
	 
	 	 
	

	 	/s/ Moty Hermon

Reviewed and Agreed to by:

	 	 	 	 	 
	/s/ Charles A. Fust
 	 
	Charles A. Fust, personally and 	 
	on behalf of SinoFresh Healthcare, Inc. 	 
	 

cc: Richard Bernstein, Esq.Ex-10.23: Letter Agreement

 

Exhibit 10.23

Charles A. Fust

[Address Omitted]

April 12, 2003

SinoFresh HealthCare, Inc.

516 Paul Morris Drive

Englewood, Florida 34223

Re: Letters of Agreement with Moty Herman

Ladies and Gentlemen:

This letter will serve to confirm the intentions and understanding of the
undersigned, Charles A. Fust., on behalf of himself and his successors,
assigns, legatees and personal representatives (“Fust”), regarding the letter
of agreement dated October 21, 2003 between SinoFresh HealthCare, Inc. (“SFH”)
and Moty Hermon (the “October 21, 2003 Letter Agreement”), the letter of
agreement between Charles Fust and Moty Herman dated October 22, 2003 (the
“October 22, 2003 Letter Agreement”), and the supplemental letter agreement
between Charles Fust on behalf of himself and SFH, and Moty Hermon dated
October 28, 2003 (the “October 28, 2003 Letter Agreement”), the three foregoing
agreements being hereinafter referred to collectively as the “Agreements”).

It was never the intention of Fust to commit or obligate SFH, in any way, for
the performance of Moty Herman’s “put” option regarding 1,229,723 shares of
SFH Common stock or any other obligation related to the “put” option; rather,
it was Fust’s intention for this to be a transaction between Fust and Moty
Herman. As a result, all obligations resulting from the Agreements are to be
borne by Fust personally. This can be evidenced by Fust’s placing 1,229,723 of
Fust’s personally owned shares of SFH common stock in an escrow account held by
the Richard Bernstein Esq. Escrow Account for the benefit of Moty Herman’s
“put” rights. These shares will remain in the escrow account until the earlier
of Moty Herman exercising his “put” option and obtaining title to the escrowed
shares or the expiration of the term of the “put” option as stated in the
October 21, 2003 Letter Agreement.

Additionally, Fust hereby personally guarantees the satisfaction of any shares
of stock required to be issued pursuant to Mr. Herman’s “put” rights obtained
in the October 21, 2003 Letter Agreement whether they be issued from the
aforementioned escrow account or from other shares of stock personally held by
Fust or the Charles Fust Family Limited Partnership.

 

 

SinoFresh HealthCare, Inc.

April 12, 2004

Page Two

Additionally, Fust hereby waives any and all rights that Fust may have received
pursuant to the October 22, 2003 Letter Agreement as they relate to the
assignment of the right to receive Consideration Shares (as defined in the
October 22, 2003 Letter Agreement) from SFH to Fust.

Additionally, Fust agrees to indemnify and hold harmless SinoFresh HealthCare,
Inc. from any and all costs and consideration associated with: (a) any
exercises made pursuant to the “put” rights granted under the Agreements, and
(b) any other actual or implied rights inuring to the benefit of Moty Hermon
under the Agreements.

The representations and agreements of Fust in this letter shall be effective as
of the effective dates of the aforementioned Agreements.

Sincerely,

/s/ Charles A. Fust

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