Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Banyan Corporation - Exhibit 10.3

  Exhibit 10.3

 THIS AGREEMENT made effective the 4th day of January, 2003. 

BETWEEN: 

  
    
      
         Banyan Corporation, a company incorporated under the laws of
          the State of Oregon (hereinafter referred to as "Banyan") 

      

    

  

OF THE FIRST PART AND:

  
    
      
         Cory H. Gelmon, Businessman, of the City of Calgary, in the
          Province of Alberta, Canada (hereinafter referred to as "Gelmon") 

      

    

  

OF THE SECOND PART

 AMENDING AGREEMENT 

  RE: MANAGEMENT AGREEMENT 

WHEREAS the Parties hereto have entered a Management Agreement (the “Agreement”), dated May 7th, 2001;

AND WHEREAS the parties hereto are desirous of amending certain provisions contained in the Agreement, as agreed to herein;

 NOW THEREFORE, for valuable consideration, the receipt and sufficiency of
  which is acknowledged by each of the parties hereto, the parties agree as follows:

	1. 	To amend Article 7 of the Agreement as follows:
    
	 	 	 	 	 
	 	(i)	Provision (a.) to be amended to $120,000 per
      annum from $60,000 per annum; 
	 	 	 	 	 
	 	(ii) 	Provision (b) to be deleted and replaced with
      the following: 
	 	 	 	 	 
	 	 	b. 	500,000 options for Class A Common Shares in
      the Corporation at the strike price of 5¢ per share (the “Options”).
      The Options will vest with Gelmon as follows: 
	 	 	 	 	 
	 	 	 	(i) 	the Options shall vest with Gelmon effective upon the closing date of
      the purchase of the Chiropractic Clinics in Lake Charles Louisiana on or
      about the 29th day of July, 2002 by Chiropractic USA, Inc or
      its affiliate, Southern Health Care, Inc. 
	 	 	 	 	 
	 	 	 	The Options will be exercisable for 5 years from
      the date of vesting. The Corporation agrees to register the Options immediately
      upon the vesting thereof, or as soon as practicable thereafter. The Class
      of Common Shares as referred to herein is intended to be the publicly traded
      class of shares currently available in the "over the counter" market. 
	 	 	 	 
	 	(iii) 	Provision (c.) to be amended to $1,000 per month
      from $500 per month; 

17

 

	2. 	To amend Article 8 of the Agreement as follows:
	 	 	 	 
	 	 	By deleting (a) and replacing it with the following:
	 	 	 	 
	 	 	(a)	This agreement shall commence on the date first above written and shall
      expire on the 31st day of August, 2004
	 	 	 	 
	3. 	All other provisions of the Agreement remain
      in full force and effect.

                           IN
  WITNESS WHEREOF the parties hereto have hereunto executed the within Agreement
  as of the 21st day of April, 2004 by their duly authorized signing authorities
  on their behalf. 

	 	 	Banyan Corporation	   
	 	 	 	 
	 	Per:	 /s/ Banyan Corporation	(c/s)
	 	 	 	 
	 	 	 	 
	 	 	/s/ Cory Gelmon	 
	 	 	Cory Gelmon	 

with the Management Agreements, each of the Gelmons will devote at least 50% of their time to the management and supervision of the Corporation and each of the Gelmons will receive a consulting fee of $60,000 per annum, $500 per month towards the
cost of office space and Options to purchase 500,000 Class A Common Shares at $0.05 per share, which shares will vest upon certain conditions being fulfilled (all as more particularly described in the Management Agreements attached as Exhibits 10.1
and 10.2 hereto).Filed by Automated Filing Services Inc. (604) 609-0244 - Banyan Corporation - Exhibit 10.4

 Exhibit 10.4

THIS AGREEMENT made effective the 4th day of January, 2003.

BETWEEN:

  
    
      
        
          
             Banyan Corporation, a company incorporated
              under the laws of the State of Oregon

              (hereinafter referred to as "Banyan") 

          

        

      

    

  

 OF THE FIRST PART AND: 

  
    
      
        
          
            Michael J. Gelmon, Businessman, of the City of Calgary, in
              the Province of Alberta, Canada 

              (hereinafter referred to as "Gelmon") 

          

        

      

    

  

OF THE SECOND PART 

AMENDING AGREEMENT

  RE: MANAGEMENT AGREEMENT 

 WHEREAS the Parties hereto have entered a Management Agreement
  (the “Agreement”), dated May 7th, 2001; 

 AND WHEREAS the parties hereto are desirous of amending certain
  provisions contained in the Agreement, as agreed to herein; 

 NOW THEREFORE, for valuable consideration, the receipt and
  sufficiency of which is acknowledged by each of the parties hereto, the parties
  agree as follows: 

  

	1. 	To amend Article 7 of the
        Agreement as follows:

	 	 	 	 	 
	  	(i)
	Provision (a.) to be amended
        to $120,000 per annum from $60,000 per annum;

	 	 	 	 	 
	 	(ii)
	Provision (b) to be deleted
        and replaced with the following:

	 	 	 	 	 
	 	 	b. 
	500,000 options for Class
        A Common Shares in the Corporation at the strike price of 5¢ per
        share (the “Options”). The Options will vest with Gelmon as
        follows:

	 	 	 	 	 
	 	 	 	(i)
	 the Options shall vest with Gelmon
        effective upon the closing date of the purchase of the Chiropractic Clinics
        in Lake Charles Louisiana on or about the 29th day of July,
        2002 by Chiropractic USA, Inc or its affiliate, Southern Health Care,
        Inc.

	 	 	 	 	 
	 	 	 	The Options will be exercisable
        for 5 years from the date of vesting. The Corporation agrees to register
        the Options immediately upon the vesting thereof, or as soon as practicable
        thereafter. The Class of Common Shares as referred to herein is intended
        to be the publicly traded class of shares currently available in the "over
        the counter" market.

	 	 	 	 	 
	 	(iii)
	Provision (c.) to be amended
        to $1,000 per month from $500 per month;

	 	 	 	 	 
	2. 	To amend Article 8 of the
        Agreement as follows:

	 	 	 	 	 
	 	 	By deleting (a) and replacing
        it with the following:

	 	 	 	 	 
	 	 	(a) 
	This agreement shall commence
        on the date first above written and shall expire on the 31st day
        of August, 2004

	 	 	 	 	 
	3. 	All other provisions of
        the Agreement remain in full force and effect.

                                           IN
  WITNESS WHEREOF the parties hereto have hereunto executed the within Agreement
  as of the 21st day of April, 2004 by their duly authorized signing authorities
  on their behalf. 

	 	 	Banyan Corporation	  
	 	 	 	 
	 	Per:	 /s/ Banyan Corporation	(c/s)
	 	 	 	 
	 	 	 	 
	 	 	/s/ Michael GelmonFiled by Automated Filing Services Inc. (604) 609-0244 - Banyan Corporation - Exhibit 10.7

 Exhibit 10.7

Management agreement between Chiropractic USA and Southern Healthcare 

 On June 26th, 2002 the Registrant publicly disseminated a
  press release announcing that its wholly owned subsidiary, Chiropractic USA,
  Inc., assigned its right to acquire a chain of Chiropractic clinics in Louisiana
  (the "Louisiana Clinics") to Southern Health Care, Inc., a newly formed Colorado
  holding company with no other assets, in exchange for a significant management
  agreement (the "Management Agreement") and franchise agreements. This assignment
  was undertaken at the request of the financial institution funding the acquisition
  to accommodate their desired organizational structure for the transaction. Southern
  Health Care, Inc., in exchange for the rights to purchase the Louisiana Clinics
  has agreed to the Management Agreement with Chiropractic USA, Inc. whereby all
  revenues and expenses from the operations of the Louisiana Clinics will flow
  through to Chiropractic USA, Inc. Chiropractic USA, Inc. will in turn provide
  all operational oversight, management, marketing and administration for the
  Louisiana Clinics. Southern Health Care, Inc. has waived its conditions precedent
  regarding the acquisition, and is proceeding to close on the purchase expeditiously.
  When the purchase concludes, the Management Agreement is due to commence. Furthermore,
  the Louisiana Clinics will become the first franchised outlets for Chiropractic
  USA, Inc., which will then commence its franchising program for Chiropractic
  Clinics. 

 Southern Health Care, Inc. was incorporated for the specific
  purpose of accommodating the request of the financial institution providing
  the required funding. Southern Health Care, Inc. is wholly owned by Michael
  Gelmon and Cory Gelmon individually (the Gelmon's are CEO and President of Chiropractic
  USA, Inc. and the Registrant respectively). Neither Michael nor Cory Gelmon
  will be remunerated as a consequence of their ownership of Southern Health Care,
  Inc. 

The Registrant has consulted extensively with its auditors
  regarding this transaction. It is anticipated that the Management Agreement
  under which Chiropractic USA, Inc. will operate the Louisiana Clinics for Southern
  Health Care, Inc. will result in consolidating the operations of Southern Health
  Care, Inc. into the financial statements of Chiropractic USA, Inc. and as such
  will be included in the consolidated financial statements of the Registrant,
  as provided by Emerging Issues Task Force Consensus 97-2 relating to Physician
  Practice Management entities.Filed by Automated Filing Services Inc. (604) 609-0244 - Banyan Corporation - Exhibit 10.8

 Exhibit 10.8

 Stock Option Agreement 

THIS AGREEMENT made as of August 10th, 2003.

B E T W E E N:

  
    
      
        
          
            
               Banyan Corporation, of an Oregon Company with offices
                in the City of Los Angeles, California 

               (“Banyan”) 

            

          

        

      

    

  

- and -

  
    
      
        
          
            
               Cory H. Gelmon, Businessman, of the City of Calgary,
                in the Province of Alberta, Canada 

               (the “Optionee”) 

            

          

        

      

    

  

WHEREAS:

	(A)	Banyan is desirous in granting the Optionee
        an option to purchase 1,000,000 common shares in Banyan (the “Optioned
        Shares”) pursuant to the terms and conditions as set out herein;
        and

	 	 
	(B)	The Optionee wishes to accept from Banyan,
        the option to purchase the Optioned Shares pursuant to the terms and conditions
        as set out herein;

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Banyan hereby grants to the Optionee an option (the
“Option”) to purchase the Optioned Shares at a purchase price (the “Purchase Price”) of 18 cents per share , upon and subject to the following terms and conditions:

 

	•	Option Exercise Period. The Option may be exercised by the
      Optionee in whole or in part at any time from the date hereof for a period
      of 5 years and shall terminate 5 years from the date hereof unless exercised
      by the Optionee prior thereto.
	 	 
	•	Exercise of Option. The Optionee shall, for the purposes
      of exercising the Option, give to Banyan notice in writing thereof (the
      “Notice”), accompanied by acceptable payment to Banyan in the
      amount of the Purchase Price.
	 	 
	•	Non-Assignability of Option. The Option is personal to the
      Optionee. Accordingly, the Optionee may not sell, assign or otherwise transfer
      the Option or any of its rights under this Agreement without the prior written
      consent Banyan, which consent may be unreasonably or arbitrarily withheld.
	 	 
	•	Entire Agreement. This Agreement expresses the entire agreement
      between the parties concerning the subject matter hereof and supersedes
      all previous agreements, whether written or oral, between the parties respecting
      the subject matter hereof.
	 	 
	•	Successors and Assigns. This Agreement shall be binding
      upon the parties hereto and their respective heirs, executors, administrators
      and successors and permitted assigns.
	 	 
	•	Governing Law. This Agreement shall be governed by and construed
      in accordance with the laws of the State of Oregon.

IN WITNESS WHEREOF the parties hereto have executed this Agreement as
  of the date first above written. 

	  	BANYAN CORPORATION
	 	 	 
	 	 	 
	 	 	 
	 	Per:	
      /s/ Banyan Corporation
	 	 	 
	 	 	 
	 	 	/s/
      Cory Gelmon
	 	 	Cory Gelmon

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