Document:

Unassociated Document

Oxysure Systems, Inc. 

VOTING STOCK OPTION PLAN

 

Scope and Purpose of Plan

 

The purpose of the Plan is to provide an incentive for key employees and affiliates of Oxysure Systems, Inc. (the "Company") to remain in the service of the Company, to extend to them the opportunity to acquire a proprietary interest in the Company so that they will apply their best efforts for the benefit of the Company, and to aid the Company in attracting and retaining key personnel.

 

PARAGRAPH 1. Definitions.

 

1.1. "Act" shall mean the Securities Exchange Act of 1934, as amended or any similar or superseding statute or statutes.

 

1.2. "Administrator" shall mean the Board of Directors, or, if a committee is appointed pursuant to Paragraph 3 of the Plan by the Board of Directors to administer this Plan, such committee.

 

1.3. "Affiliates" shall mean (a) any entity, other than the Company, in an unbroken chain of entities ending with the Company if each of the entities, other than the Company, owns stock
or other equity interests possessing fifty percent (50%) or more of the total combined voting power of all classes of stock or other equity interests in any of the other entities in such chain and (b) any entity, other than the Company, in an unbroken chain of entities beginning with the Company if each of the entities, other than the last entity in the unbroken chain, owns stock or other equity interests possessing fifty percent (50%) or more of the total combined voting power of all classes of stock or other
equity interests in one of the other entities in such chain.

 

1.4. "Agreement" shall mean the written agreement between the Company and an Optionee evidencing the Options granted by the Company.

 

1.5. "Board of Directors" shall mean the Board of Directors of the Company.

 

1.6. "Shares" shall mean the Voting Common Stock of the Company, as more particularly described in the current Bylaws and Articles of Incorporation of the Company or any other securities
that are substituted therefor as provided in Paragraph 6.5. hereof.

 

1.7. "Code" shall mean the Internal Revenue Code of 1986, as amended.

 

1.8. "Company" shall mean Oxysure Systems, Inc., a Delaware corporation.

 

1.9. "Disability" shall mean a total and permanent disability as defined in the Company's current long term disability plan or, if the Company has no long term disability plan in effect
at the time of the Optionee's disability, as detennined by the Administrator in its sole discretion.

 

 

 

 

 

1.10. "Eligible Individuals" shall mean those employees designated by the Board of Directors as key employees of the Company.

 

1.11. "Fair Market Value" of a Shares on a particular date shall be the closing price for such Shares on such date (or, if the date is not a business day, then on the next preceding business day), which shall be: (i) if the Shares are listed or admitted for trading on any United
States national securities exchange, the last reported sale price for the Shares on such exchange as reported in any newspaper of general circulation; (ii) if the Shares are quoted on NASDAQ or any similar system of automated dissemination of quotations of securities prices in common use, the mean between the closing high bid and low asked quotations for such day of the Shares on such system; or (iii) if neither clause (i) nor (ii) is applicable, a value determined by any fair and reasonable means prescribed
by the Board of Directors.

 

1.12. "Optionee" shall mean an Eligible Individual to whom an Option has been granted.

 

1.13. "Options" shall mean voting common stock options granted under this Plan;

 

1.14. "Plan" shall mean the Oxysure Systems, Inc. Voting Stock Option Plan.

 

1.15. "Securities Act" shall mean the Securities Act of 1933, as amended, or any similar or superseding statute or statutes.

 

PARAGRAPH 2. Shares and Maximum Number of Shares Subject to the Plan.

 

2.1.           Description of Shares and Maximum Shares Allocated. The Shares which may be issued upon the exercise of an Option may either
be unissued or reacquired Shares, as the Board of Directors may, in its sole and absolute discretion, from time to time determine.

 

Subject to the adjustments provided in Paragraph 6.5 hereof, the aggregate number of Shares to be issued pursuant to the exercise of all Options granted under the Plan may equal but shall not exceed 5,000,000 Shares.

 

2.2.           Restoration of Unpurchased Shares. If an Option granted under the Plan expires or terminates for any reason during the term of this Plan and prior to the exercise of the Option
in full, the Shares subject to, but not issued under, such Option shall again be available for future Options granted under the Plan after such Shares become available again.

PARAGRAPH 3. Administration of the Plan.

 

3.1. Committee. The Plan shall be administered by the Administrator. If a committee is appointed, the committee shall
consist of not less than three individuals appointed by the Board of Directors.

 

3.2. Duration, Removal, Etc. If a committee has been appointed pursuant to Paragraph 3.1. hereof, the members of the committee
shall serve at the pleasure of the Board of Directors, which shall have the power, at any time and from time to time, to remove members from the

 

 

 

 

 

committee, or to add members to the committee. Vacancies on the committee, however caused, shall be filled by action of the Board of Directors.

 

3.3. Meetings and Actions of Administrator. The Administrator, if a committee, shall elect one of its members as
its chairman and shall hold its meetings at such times and places as it may determine. All decisions and determinations of the committee shall be made by the majority vote or decision of all of its members present at a meeting; provided, however, that any decision or determination reduced to writing and signed by all of the members of the Administrator shall be as fully effective as if it had been made at a meeting duly called and held. The committee may make any rules and regulations for the conduct of its business
that are not inconsistent with the provisions of this Plan and with the Company's Bylaws, as may be amended from time to time, as the committee may deem advisable.

 

3.4. Administrator's Powers. Subject to the express provisions of this Plan, the Administrator shall have the authority,
in its sole and absolute discretion, (a) to adopt, amend, and rescind administrative and interpretive rules and regulations relating to the Plan; (b) to determine the terms and provisions of the respective Agreements (which need not be identical), including provisions defining or otherwise relating to (i) subject to Paragraph 6 hereof, the term and the period or periods and extent of exercisability of the Options, (ii) the extent to which the transferability of Shares issued upon exercise of Options is restricted,
(iii) the effect of termination of employment upon the exercisability of the Options, and (iv) the effect of approved leaves of absence; (c) to accelerate the time of exercisability of any Option that has been granted; (d) to construe the terms of any Agreement and the Plan; and (e) to make all other determinations and perform all other acts necessary or advisable for adrninistering the Plan, including the delegation of such ministerial acts and responsibilities as the Administrator deems appropriate. The Administrator
may correct any defect, supply any terms that were previously omitted, or reconcile any inconsistency in the Plan or in any Agreement in the manner and to the extent the Administrator shall deem it expedient to carry the Plan into effect, and the Administrator shall be the sole and final judge of such expediency. The Administrator shall have full discretion to make all determinations on the matters referred to in this Paragraph, and such determinations shall be final, binding, and conclusive.

 

PARAGRAPH 4. Eligibility and Participation.

 

4.1. Eligible Individuals. Options may be granted under the Plan only to persons who are Eligible Individuals at the time
of grant of the Options.

 

4.2. No Right to Option. The adoption of the Plan shall not be deemed to give any person a right to be granted an Option.

 

PARAGRAPH 5. Grant of Options and Certain Terms of the Agreements.

 

5.1 Award Criteria. The Board of Directors shall determine, in its sole discretion, which Eligible Individuals shall be granted Options under the Plan from time to time. The Board of Directors shall also determine the exercise price and the number of Shares subject to each of such

 

 

 

 

 

Options and shall authorize and cause the Company to grant Options in accordance with such determinations.

 

5.2      Grant. The date on which the Board of Directors completes all action constituting an offer of an Option to an individual, including the specification of the exercise price, vesting schedule,
and the number of Shares to be subject to the Option, shall be the date on which the Option covered by an Agreement is granted, even though certain terms of the Agreement may not be at such time determined and even though the Agreement may not be executed until a later time.
In no event, however, shall an Optionee gain any rights in addition to those specified by the Board of Directors in its grant, regardless of the time that may pass between the grant of the Option and the actual execution of the Agreement by the Company and the Optionee.

Each Option granted under the Plan shall be evidenced by an Agreement, executed by the Company and the Eligible Individual to whom the Option is granted, incorporating such terms as the Administrator shall deem necessary or desirable. More than one Option may be granted to the same Eligible Individual and be outstanding concurrently.
In the event an Eligible Individual is granted more than one Option, such grants shall be evidenced by separate Agreements.

 

5.3      Forfeiture and Transferability Restrictions. Each Agreement may contain or otherwise provide for conditions giving rise to the forfeiture of the
Shares acquired pursuant to an Option granted under the Plan and for such restrictions on the transferability of Shares acquired pursuant to an Option as the Board of Directors or Administrator, in their sole and absolute discretion, shall deem proper or advisable.
Such conditions giving rise to forfeiture may include, but need not be limited to, the requirement that the Optionee render substantial services to the Company for a specified period of time. Such restrictions on transferability may include, but need not be limited
to, options and rights of first refusal in favor of the Company and members of the Company.

 

PARAGRAPH 6. Terms and Conditions of Options.

 

All Options granted under the Plan shall comply with, be deemed to include, and shall be subject to the following terms and conditions:

 

6.1. Number of Shares. Each Agreement shall state the number of Shares to which it relates.

 

6.2. Exercise Price. Each Agreement shall state the exercise price per Share. Subject to the adjustments provided in Paragraph
6.5. hereof, the exercise price per Share subject to any Option shall be determined by the Board of Directors as provided in Paragraph 5.1. hereof

 

6.3. Medium and Time of Payment, Method of Exercise, and Withholding Taxes. The exercise price of an Option shall be payable
upon the exercise of the Option

 

(a) in cash, or

 

(b) by certified or cashier's check payable to the order of the Company.

 

 

 

 

 

Exercise of an Option shall not be effective until the Company has received written notice of exercise. Such notice must specify the number of whole Shares to be purchased and be accompanied by payment in full of the aggregate exercise price of the number of shares purchased. The Company shall not in any case be required to sell, issue, or
deliver a fractional Share with respect to any Option.

 

The Administrator may, in its discretion, require an Optionee to pay to the Company at the time of exercise of an Option (or portion of an Option) the amount that the Company deems necessary to satisfy its obligation to withhold federal, state, or local income or other taxes incurred by reason of the exercise. If the exercise of an
Option does not give rise to an obligation to withhold federal income or other taxes on the date of exercise, the Administrator may, in its discretion, require an Optionee to place Shares purchased under the Option in escrow for the benefit of the Company until such time as federal income or other tax withholding is no longer required with respect to such Shares or until such withholding is required on amounts included in the gross income of the Optionee as a result of the exercise of an Option or the disposition
of Shares acquired pursuant to the exercise. At such later time, the Administrator, in its discretion, may require an Optionee to pay to the Company the amount that the Company deems necessary to satisfy its obligation to withhold federal, state, or local income or other taxes incurred by reason of the exercise of the Option or the disposition of Shares. Upon receipt of such payment by the Company, such Shares shall be released from escrow to the Optionee.

6.4.    Term, Time of Exercise, and Transferability of Options, hi addition to such other terms and conditions as may be included in a particular Agreement granting an Option, an Option shall be exercisable during an Optionee's lifetime only by the
Optionee or by the Optionee's guardian or legal representative.

 

The Administrator shall have the authority to prescribe in any Agreement a vesting schedule that governs when the Option becomes exercisable, except that all Options shall become fully vested and exercisable immediately upon the occurrence of a Change in Control as defined in Paragraph 6.5. The Optionee's Voting Stock Option Agreement shall prescribe a vesting and exercise
schedule.

 

An Option shall not be transferable other than by will or the laws of descent and distribution.

 

The provisions of the remainder of this Paragraph shall apply to the extent an Optionee's Agreement does not expressly provide otherwise. If an Optionee ceases to be an Eligible Individual for any reason other than death or Disability, the Option shall terminate ninety (90) days after such Optionee ceases to be an Eligible Individual. If an Optionee ceases to be an Eligible
Individual by reason of Disability, the Optionee shall have the right for six (6) months after the date of Disability to exercise an Option to the extent such Option is exercisable on the date of his Disability. If an Optionee ceases to be an Eligible Individual by reason of death, Optionee's designated beneficiary shall have the right for six (6) months after the date of death to exercise the Option, to the extent such Option is exercisable on the date of death. At the end of such ninety (90) day or six (6)
month period, as applicable, the Option shall terminate and cease to be exercisable. Each Optionee shall have the right to designate a beneficiary on the form provided by the Administrator. If no beneficiary is designated, Optionee's estate shall have the rights of a beneficiary. No Option shall be exercisable after the expiration of five (5) years from

 

 

 

 

 

the date it is vested (the "Maximum Term"). Notwithstanding any other provision of this Plan or in any Agreement, all Options shall become fully vested and exercisable in accord with the schedule prescribed in the Optionee's Voting Stock Option Agreement.

 

The portion of the Option that is not exercisable on the date the Optionee ceases to be an Eligible Individual shall terminate and be forfeited to the Company on the date of such cessation. Notwithstanding the previous sentence, if the Optionee ceases to be an Eligible Individual by reason of death, any Options held by such Optionee shall be exercisable in full on the date such Optionee ceases
to be an Eligible Individual, and no portion of an Option held by such deceased Optionee shall terminate or forfeit on the date such Optionee ceases to be an Eligible Individual.

 

The Administrator shall have the authority to prescribe in any Agreement that the Option evidenced by the Agreement may be exercised in full or in part as to any number of Shares subject to the Option at any time or from time to time during the term of the Option, or in such installments at such times during said term as the Administrator may prescribe. Except as provided
above and unless otherwise provided in any Agreement, the vested portion of an Option may be exercised at any time or from time to time during the term of the Option. Such exercise maybe as to any or all whole (but no fractional) Shares which have become purchasable under the Option.

 

Within a reasonable time (or such time as may be permitted by law) after the Company receives written notice that the Optionee has elected to exercise all or a portion of an Option, such notice to be accompanied by payment in full of the aggregate Option exercise price of the number of Shares purchased, the Company shall issue and deliver a certificate representing the
Shares acquired in consequence of the exercise and any other amounts payable in consequence of such exercise. The number of Shares transferable due to an exercise of an Option under this Plan shall not be increased due to the passage of time, except as may be provided in an Agreement; provided, however, the number of such Shares which are transferable may increase due to the occurrence of certain events which are fully described in Paragraph 6.5. hereof.

Nothing in the Plan or in any Option granted under the Plan shall require the Company to issue any Shares upon exercise of any Option if such issuance would, in the reasonable judgment of the Administrator based upon the advice of counsel for the Company, constitute a violation of the Securities Act, or any other applicable statute or regulation, as then in effect. At
the time of any exercise of an Option, the Company may, as a condition precedent to the exercise of such Option, require from the Optionee (or in the event of his death, his legal representatives, heirs, legatees, or distributees) such written representations, if any, concerning his intentions with regard to the retention or disposition of the Shares being acquired by exercise of such Option and such written covenants and agreements, if any, as to the manner of disposal of such shares as, in the opinion of counsel
to the Company, maybe necessary to ensure that any disposition by such Optionee (or in the event of his death, his legal representatives, heirs, legatees, or distributees), will not involve a violation of the Securities Act or any other applicable state or federal statute or regulation, as then in effect. Certificates for Shares, when issued, may have the following or similar legend, or statements of other applicable restrictions, endorsed on them, and may not be immediately transferable:

 

 

 

 

 

The Shares evidenced by this certificate have been issued to the registered owner in reliance upon written representations that these Shares have been purchased for investment. These Shares have not been registered under the Securities Act of 1933, as amended, or any applicable state securities laws, in reliance upon an exemption from registration. Without such registration, these Shares may not be sold, transferred, assigned or
otherwise disposed of unless, in the opinion of the Company and its legal counsel, such sale, transfer, assignment, or disposition will not be in violation of the Securities Act of 1933, as amended, applicable rules and regulations of the Securities and Exchange Commission, and any applicable state securities laws.

 

6.5.    Adjustments Upon Changes in Capitalization, Merger, Etc. Notwithstanding any other provision in the Plan to the contrary, in the event of any change in the number of outstanding Shares:

 

(a) effected without receipt of consideration by the Company by reason of a Share dividend, split, combination, exchange of Shares or other ownership interests, merger, or other
recapitalization, in which the Company is the surviving entity, or

 

(b) by reason of a spin-off of a part of the Company into a separate entity, or assumptions and conversions of outstanding grants due to an acquisition by the Company of a separate
entity,

 

(1) the aggregate number of the reserved Shares, (2) the number of Shares subject to each outstanding Option, and (3) the exercise price of each outstanding Option, shall be automatically adjusted to accurately and equitably reflect the effect of such change. In the event of a dispute concerning such adjustment, the Administrator has
full discretion to determine the resolution of the dispute. Such determination shall be final, binding, and conclusive. Furthermore, the number of reserved Shares or the number of Shares subject to any outstanding Option shall be automatically reduced to the extent necessary to eliminate any fractional shares.

 

The following provisions of this Paragraph shall apply unless an Optionee's Agreement provides otherwise. In the event of:

 

(a) a change in the ownership of the common stockholders of the Company where an entity, person, or group acting in concert (a "Person") as described in Section 14(d)(2) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), holds or acquires, directly or indirectly, beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of such portion of Common Stockholders of the Company as constitutes fifty percent (50%) or more of the combined voting power of the Company's then outstanding common stockholders then entitled to vote generally in the election of directors,

 

(b) a change in the Board of Directors such that the persons who were members of the Board of Directors of the Company immediately prior to a tender offer, exchange offer, contested
election, or any combination of the foregoing, cease to constitute a majority of the Board of Directors,

 

 

 

 

 

(c) the adoption by the Board of Directors of the Company of a merger, consolidation, or reorganization plan involving the Company in which the Company is not the surviving entity, or a sale of all or substantially all of the assets of the Company. For purposes of this Plan, a
sale of all or substantially all of the assets of the Company shall be deemed to occur if any Person acquires (or during the 12-month period ending on the date of the most recent acquisition by such Person, has acquired) gross assets of the Company that have an aggregate fair market value equal to fifty percent (50%) of the fair market value of all of the gross assets of the Company immediately prior to such acquisition or acquisitions,

 

(d) a tender offer or exchange offer made by any Person which, if successfully completed, would result in such Person beneficially owning (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) either fifty percent (50%) or more of the Company's outstanding shares of common stockholders or shares of common stockholders' having fifty percent (50%) or more of the combined voting power of the Company's then outstanding common stockholders (other than an offer made by the Company), and sufficient shares are acquired under the offer to cause such person to own fifty percent (50%) or more of the voting power, or

 

(e) any other transactions or series of related transactions occurring which have substantially the same effect as the transactions specified in any of the preceding clauses of this
Paragraph,

 

(a "Change in Control"), all options shall fully vest and the Board of Directors, in its sole discretion, may, as of the effective time of such transaction, either (1) change the Shares subject to the Options to another kind of common stockholders (including substitution of shares or shares of another entity) and exercise price in
the manner it deems appropriate, or (2) purchase the Options from each Optionee by tendering cash equal to the Fair Market Value of the Shares represented by the Options less the exercise price of the Option specified in each Agreement, without regard to the determination as to the periods and installments of exercisability made pursuant to an Optionee's Agreement, if (and only if) such Options have not at that time expired or been terminated.

 

6.6. Rights as a Stockholder. An Optionee shall have no right as a stockholder with respect to any Shares covered
by his Option until a certificate representing such Shares is issued to him. Upon issuance of one or more certificates representing any such Shares upon exercise of an Option, the Optionee shall become a stockholder but shall only be vested with the limited rights accorded to a shareholder pursuant to the current Bylaws of the Company. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash or other property), distributions, or other rights for which the record date is prior to the
date such certificate is issued, except as provided in Paragraph 6.5. hereof.

 

6.7. Modification, Extension, and Renewal of Options. Subject to the terms and conditions of, and within the limitations
of, the Plan, the Administrator may modify, extend, or renew outstanding Options granted under the Plan or accept the surrender of Options outstanding under the Plan (to the extent not previously exercised) and authorize the granting of substitute

 

 

 

 

 

Options (to the extent not previously exercised). The Administrator may not, however, without the consent of the Optionee, modify any outstanding Options so as to specify a higher or lower exercise price or number of Shares. In addition, no modification of an Option granted under the Plan shall, without the consent of the Optionee,
alter or impair any rights or obligations under any Option previously granted under the Plan to such Optionee under the Plan.

 

6.8. Furnish Information. Each Optionee shall furnish to the Company all information requested by the Company to
enable it to comply with any reporting or other requirement imposed upon the Company by or under any applicable statute or regulation.

 

6.9. Obligation to Exercise; Termination of Employment. The granting of an Option under the Plan shall impose no
obligation upon the Optionee to exercise it or any part of it. In the event of an Optionee's termination of employment with the Company or an Affiliate, the unexercised portion of an Option granted under the Plan shall terminate in accordance with Paragraph 6.4.hereof.

 

6.10. Agreement Provisions. The Agreements authorized under the Plan shall contain such provisions in addition to
those required by the Plan (including, without limitation, restrictions or the removal of restrictions upon the exercise of the Option and the retention or transfer of shares thereby acquired) as the Administrator shall deem advisable.

 

PARAGRAPH 7. Remedies and Specific Performance.

 

7.1. Remedies. The Company shall be entitled to recover from an Optionee reasonable attorneys' fees incurred in connection
with the enforcement of the terms and provisions of the Plan and any Agreement, whether by an action to enforce specific performance, or an action for damages for its breach or otherwise.

 

7.2. Specific Performance. The Company shall be entitled to enforce the terms and provisions of this Paragraph, including
the remedy of specific performance, in Collin County, Texas.

 

PARAGRAPH 8. Duration of Plan.

 

No Options maybe granted under the Plan more than ten (10) years after the date the Plan is adopted.

 

PARAGRAPH 9. Amendment and Termination of Plan.

 

The Board of Directors may at any time terminate or from time to time amend or suspend the Plan. No Option may be granted during any suspension of the Plan or after the Plan has been terminated.

 

 

 

 

 

PARAGRAPH 10. General

 

10.1. Application of Funds. The proceeds received by the Company from the sale of Shares pursuant to Options shall be
used for general Company purposes.

 

10.2. Right of the Company and Affiliates to Terminate Employment. Nothing contained in the Plan, or in any agreement,
shall confer upon any Optionee the right to continue in the employ of the Company, or interfere in any way with the rights of the Company to terminate his employment any time.

 

10.3. Liability of the Company. Neither the Company, nor any of its Affiliates, directors, officers, or employees,
nor any member of the Administrator, shall be liable for any act, omission, or determination taken or made in good faith with respect to the Plan or any Option granted under it, and members of the Board of Directors and the Administrator shall be entitled to indemnification and reimbursement by the Company in respect of any claim, loss, damage, or expense (including attorneys' fees, the costs of settling any suit (provided such settlement is approved by independent legal counsel selected by the Company), and
amounts paid in satisfaction of a judgment, except a judgment based on a finding of bad faith) arising from such claim, loss, etc. to the full extent permitted by law and under any directors' and officers' liability or similar insurance coverage that may from time to time be in effect.

 

10.4. Information Confidential. As partial consideration for the granting of each Option under the Plan, the Agreement
may, in the Administrator's sole and absolute discretion, provide that the Optionee shall agree with the Company that he will keep confidential all information and knowledge that he has relating to the manner and amount of his participation in the Plan; provided, however, that such information may be disclosed as required by law and may be given in confidence to the Optionee's spouse, tax and financial advisors, or to a financial institution to the extent that such information is necessary to secure a loan. In
the event any breach of this promise comes to the attention of the Administrator, it shall take into consideration such breach, in determining whether to recommend the grant of any future Option to such Optionee, as a factor militating against the advisability of granting any such future Option to such individual.

 

10.5. Other Benefits. Participation in the Plan shall not preclude the Optionee from eligibility in any other common
stockholders option or stock option plan of the Company or any Affiliate or any old age benefit, insurance, pension, profit sharing, retirement, bonus, or other extra compensation plans which the Company or any Affiliate has adopted, or may, at any time, adopt for the benefit of its employees.

 

10.6. Execution of Receipts and Releases. Any payment of cash or any issuance or transfer of Shares to the Optionee,
or to his legal representative, heir, legatee, or distributee, in accordance with the provisions of the Plan, shall, to the extent thereof, be in full satisfaction of all claims of such persons under the Plan. The Administrator may require any Optionee, legal representative, heir, legatee, or distributee, as a condition precedent to such payment, to execute a release and receipt for such payment in such form as it shall determine.

 

10.7. No Guarantee of Shares. Neither the Administrator nor the Company guarantees the Shares from loss or depreciation.
In that regard, each Optionee hereby acknowledges that the

 

 

 

 

 

value of the Shares are extremely speculative and no guarantee whatsoever concerning the financial prospects of the Company can be made. Each Optionee should consult his advisors concerning the financial and other aspects of the Plan.

 

10.8. Payment of Expenses. All expenses incident to the administration, termination, or protection of the Plan, including,
but not limited to, legal and accounting fees, shall be paid by the Company or its Affiliates; provided, however, the Company or an Affiliate may recover any and all damages, fees, expenses, and costs arising out of any actions taken by the Company or an Affiliate to enforce its rights under the Plan.

 

10.9. Company Records. Records of the Company regarding the Optionee's period of employment, termination of employment
and the reason for such termination, leaves of absence, re-employment, and other matters shall be conclusive for all purposes under the Plan, unless determined by the Administrator to be incorrect.

 

10.10. Information. The Company shall, upon request or as may be specifically required under the Plan, furnish or
cause to be furnished all of the information or documentation that is necessary or required by the Administrator to perform its duties and functions under the Plan.

 

10.11. Company Action. Any action required of the Company relating to the Plan shall be by resolution of its Board
of Directors or by a person authorized to act by resolution of the Board of Directors.

 

10.12. Severability. If any provision of this Plan is held to be illegal or invalid for any reason, the illegality
or invalidity shall not affect the remaining provisions of the Plan, but such provision shall be fully severable, and the Plan shall be construed and enforced as if the illegal or invalid provision had never been included in the Plan.

 

10.13. Notices. Whenever any notice is required or permitted under the Plan, such notice must be in writing and personally
delivered, telecopied (if confirmed), or sent by mail or by a nationally recognized courier service. Any notice required or permitted to be delivered under this Agreement shall be deemed to be delivered on the date on which it is personally delivered, or, if mailed, whether actually received or not, on the third business day after it is deposited in the United States mail, certified or registered, postage prepaid, addressed to the person who is to receive it at the address which such person has previously specified
by written notice delivered in accordance with this Paragraph or, if by courier, twenty-four (24) hours after it is sent, addressed as described in this Paragraph. The Company or an Optionee may change, at any time and from time to time, by written notice to the other, the address which it or he had previously specified for receiving notices. Until changed in accordance with the Plan, the Company and each Optionee shall specify as its and his address for receiving notices the address set forth in the Agreement
pertaining to the shares to which such notice relates.

 

10.14. Waiver of Notice. Any person entitled to notice under the Plan may waive such notice.

 

10.15. Successors. The Plan shall be binding upon the Optionee, his legal representatives, heirs, legatees, and distributees,
upon the Company, its successors, and assigns, and upon the Administrator, and its successors.

 

 

 

 

 

10.16. Headings. The titles and headings of Paragraphs are included for convenience of reference only and are not to be considered in construction of the Plan's provisions.

 

10.17. Governing Law. All questions arising with respect to the provisions of the Plan shall be determined by application
of the laws of the State of Texas except to the extent Texas law is preempted by federal law. Questions arising with respect to the provisions of an Agreement that are matters of contract law shall be governed by the laws of the state specified in the Agreement, except to the extent preempted by federal law and except to the extent that the provisions of Delaware Code Annotated Title 6, Sections 18-101 to 18-1109 conflict with the contract law of such state, in which event the provisions ofDelaware Code Annotated
Title 6, Sections 18-101 to 18-1109 shall govern. The obligation of the Company to sell and deliver Shares under the Plan is subject to applicable laws and to the approval of any governmental authority required in connection with the authorization, issuance, sale, or delivery of such Common Stockholders.

 

10.18. Word Usage. Words used in the masculine shall apply to the feminine where applicable, and wherever the context
of this Plan dictates, the plural shall be read as the singular and the singular as the plural.

 

PARAGRAPH 11. Effective Date.

 

The Plan shall take effect on February 1, 2004, the date it was adopted by the Board of Directors.

 

 

 

IN WITNESS WHEREOF, Oxysure Systems, Inc., acting by and through its duly authorized

 

officer, has executed this Plan on this the _lst________________day of________________February______________, 2004.

 

	 	Oxysure Systems, Inc.	 
	 	 	 	 
	
 
	
By:Unassociated Document

Exhibit 10.11  Subcontractor Agreement and Assignment of Intellectual Property

AGREEMENT No.________

OXYSURE SYSTEMS, INC.

SUBCONTRACTOR SERVICES AGREEMENT

This Subcontractor Services Agreement (“Agreement”) is entered into and made effective as of__________, by and between_____________(“Subcontractor”) and OxySure Systems, Inc. (“OSI” or “Client”).

1.           CONSULTING SERVICES

a. "Subcontractor" shall mean any corporation, partnership, or sole proprietorship, subject to the limitations of Section 6 of this Agreement, which possesses the requisite level of knowledge and training and agrees to perform certain consulting services to be provided to Client (“Services”). Subcontractor
shall also mean any corporation, partnership, or sole proprietorship, subject to the limitations of Section 6 of this Agreement, which agrees to supply OSI with a member or members of Subcontractor's staff ("Personnel") to perform such Services to be provided to Client.

b. From time to time, on an as-needed basis, as determined by Client in Client’s sole discretion, Subcontractor agrees to provide such Services as are identified to Subcontractor by OSI. Subcontractor’s Services shall be provided under the direction and supervision of Client. Such services, and Personnel, if any, shall
be described in greater detail on Work Schedules to be attached hereto as Exhibit A, as from time to time amended by the parties hereto ("Work Schedule").

c. All work performed and services provided hereunder shall be under the direction and satisfaction of OSI, with or without instructions or supervision from OSI. OSI shall provide no training, tools, equipment or other materials to Subcontractor, unless otherwise agreed to in writing.

d. Subcontractor shall not, except to the extent inconsistent with the requirements of this Agreement, be prohibited in any way from performing any Services for any other individual or company during the period of this Agreement. At any time, OSI may arrange for other subcontractors or OSI’ own employees to provide the same or similar
Services to OSI.

e. The parties acknowledge and agree that the relationship between Client and Subcontractor under this Agreement and the fact that Client is using Subcontractor’s Services is confidential.  Subcontractor may not disclose this information to others unless it has been approved by OSI in writing.

f. On Client’s request, Subcontractor shall answer any questions and/or prepare any reports or other written documents concerning the Services.

 

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g. Subcontractor acknowledges and agrees that time is of the essence in the value of Subcontractor’s services to Client and shall use Subcontractor’s best efforts to provide all Services requested of Subcontractor by Client efficiently and in accordance with Client’s specifications and timetable for delivery

2.          COMPENSATION

a. Subcontractor shall be paid bi-weekly, only for hours actually worked, at an hourly rate as indicated on the Work Schedule, without reduction for income tax withholdings or other employee deductions. No amount will be deducted or withheld from Subcontractor's compensation for state, local or federal taxes. No FICA, FUTA or state unemployment
taxes will be payable by OSI on Subcontractor's behalf. Subcontractor and Personnel shall receive no other compensation or benefits for services provided hereunder. In order to be paid, Subcontractor must submit a time card signed by an authorized representative of OSI each week in accordance with such procedures as may be established by OSI from time to time. Subcontractor's time card shall serve as Subcontractor's invoice for payment and is a prerequisite for receipt of payment from OSI for Subcontractor's
services.

b. All ordinary business expenses incident to Subcontractor's performance of services under this Agreement shall be borne by Subcontractor. Any extraordinary business expenses are to be paid by Subcontractor unless approved in advance by OSI in writing. Subcontractor shall provide Subcontractor's own equipment and materials for Services
to be rendered hereunder at Contractor's sole cost and expense.

c. Notwithstanding any other provision of this Agreement, should Subcontractor fail to make prompt payment of wages or fees to Personnel performing Services hereunder, OSI, may at its election, contract directly with Personnel for the performance of the Services contemplated by any Work Schedule.

d. Subcontractor shall not, and shall cause Personnel to not, disclose the existence or the substance of this Agreement, including, but not limited to, Subcontractor's or Personnel's rate of pay or remuneration details to any third party, including without limitation, any customer or co-worker. Any such disclosure may result in Subcontractor's
and/or Personnel's immediate termination.

3. RELATIONSHIP/TERM/GUARANTEE

a. Subcontractor and Personnel shall function under this Agreement solely as independent contractors performing services for OSI, and not as employees, agents, representatives, partners or joint venturers of OSI. Subcontractor and Personnel are not to be deemed employees of Client, and neither Subcontractor nor Personnel shall have or claim
any right arising from employee status.

b. Subcontractor's services hereunder shall be "at will" and provided only on an as needed basis without any commitment as to minimum use by OSI. Subcontractor acknowledges and agrees that this Agreement and/or any Work Schedule may be terminated immediately at any time by 

 

 

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OSI with or without cause at OSI’s sole discretion, and that nothing in this Agreement or otherwise shall confer upon Subcontractor or Personnel any right to provide Services to OSI or restrict the right of OSI to terminate this Agreement at any time. On termination of this Agreement, Subcontractor shall have no further obligation
to provide Services for Client and Client shall have no further obligation to pay compensation beyond that for Services rendered prior to the effective date of termination. Additionally, upon termination of this Agreement, Subcontractor agrees to sign and deliver the Termination Certificate attached hereto as Exhibit B.

c. Subcontractor is not Client’s agent and shall not have any decision-making authority for any major acquisition, purchase or policy decision relating to Client's business. Subcontractor is not authorized to render opinions on the business affairs of OSI or its business, nor is it authorized to affix the name of OSI to its marketing
collateral or other business materials or to otherwise make use of OSI’s name, unless OSI specifically agrees to in writing.

d. If for any reason OSI is dissatisfied with Personnel supplied by Subcontractor, Subcontractor will remove such person or persons immediately and, if requested by OSI, provide a replacement or replacements as soon as practicable. If OSI shall have notified Subcontractor of its dissatisfaction prior to the conclusion of the person's or
persons' third day of work, Subcontractor will not charge OSI for the first 24 hours worked.

4.          CONFIDENTIAL INFORMATION/INTELLECTUAL PROPERTY/NON-  SOLICITATION

a. Subcontractor acknowledges, that in the course of Subcontractor's providing services hereunder, Subcontractor and Personnel may be provided with, or have access to, Confidential Information belonging to OSI, or its affiliates or other parties. Confidential Information includes any and all information which any party may consider proprietary
or otherwise wish to keep confidential, including, without limitation, business plans, marketing strategies, product information & specifications, customer lists, vendor lists, computer programs, schematics, source code, object code, pricing, cost or profit figures and projections, credit information, current, future or proposed products or services, plans and technology, business forecasts, financial records, accounting records, litigation documents and procurement requirements, and technical information
included in or on tracings, flowcharts, software program code, drawings, field notes, calculations, specifications and engineering data. Subcontractor agrees to hold in strict confidence all Confidential Information which Subcontractor or Personnel uses or to which Subcontractor or Personnel gain access during the course of performance hereunder, and Subcontractor shall not use, reproduce, publish, disclose, copy, circulate, forward or otherwise make known to any person or entity any Confidential Information,
except to the extent required in the performance of Subcontractor's and Personnel's Services to OSI hereunder.

This confidentiality clause shall not apply to (a) information that is in the public domain, (b) information that was previously known to Subcontractor before the engagement, (c) information received from a third party having the right to lawfully possess and disclose such information without breaching this Agreement, (d) information approved
for release by prior written authorization by OSI, and (e) information required to be disclosed by a court of competent jurisdiction, but only to the extent expressly required and only after alerting OSI of such disclosure requirement.

 

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b. Subcontractor warrants and represents that any materials used or provided by Subcontractor for use by Client pursuant to this Agreement shall not contain any proprietary material or information owned by any other person that is protected under applicable law.  Subcontractor shall be solely responsible for ensuring that
any materials or information provided by Subcontractor pursuant to this Agreement satisfy this requirement and Subcontractor agrees to hold Client harmless from all liability or loss to which Client is exposed on account of Subcontractor’s breach of this warranty and representation or failure to perform this duty.

c. All rights to ideas, discoveries, inventions, improvements, designs, work product and innovations (including without limitation all data and records pertaining thereto) that relate to the business of Client and its affiliates, that are conceived, developed, written or contributed by Subcontractor pursuant to this Agreement, either
individually or in collaboration with others, whether or not patentable, copyrightable or reduced to writing (“Inventions”), shall be the exclusive property of Client. Subcontractor shall maintain current and appropriate notes, sketches and other records of all Inventions made or conceived by Subcontractor during the term of this Agreement and those made or conceived after this Agreement
but arising from the Agreement, and all such sketches, notes and other records shall be the sole property of Client. Subcontractor shall promptly disclose all Inventions to Client.

d. Without limiting the generality of section 4c. above, Subcontractor shall assign and transfer, and does hereby assign and transfer, to Client the world-wide right, title and interest of Subcontractor in the Inventions.  Subcontractor agrees that Client may file copyright registrations and apply for and receive patents
(including without limitation Letters Patent in the United States) for the Inventions in the names of Client or any of its affiliates in such countries as may be determined solely by Client.  Subcontractor shall communicate to Client all facts known to Subcontractor relating to the Inventions and shall cooperate with Client’s reasonable requests in connection with vesting title to the Inventions and related copyrights and patents exclusively in Client and in connection with obtaining, maintaining,
protecting and enforcing Client’s exclusive copyrights, patents and other rights in the Inventions.  Subcontractor shall execute at the request of Client any assignments or other documents Client may deem necessary to protect or perfect its rights therein, and shall assist Client, at Client’s expense, in obtaining, defending and enforcing the rights of Client therein.  Subcontractor hereby appoints Client and any of its affiliates as Subcontractor’s attorney-in-fact to execute
on Subcontractor’s behalf any assignments or other documents deemed necessary by Client and any of its affiliates to protect or perfect its rights to any Inventions.

e. Subcontractor’s obligations under this Section 4 shall inure to the benefit of Client and its successors and assigns, shall be binding on Subcontractor’s heirs, legatees, successors and assigns, and shall survive the expiration of the term of this Agreement for such time as may be necessary to protect the proprietary rights
of Client in the Inventions.

f. Subcontractor shall perform Subcontractor’s obligations under this Section 4 at Client's expense, but without any additional or special compensation thereof.

 

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g. Upon the termination or completion of services to OSI, Subcontractor agrees immediately to return, all information, data and any other materials supplied by or obtained from OSI in the course of Subcontractor's and Personnel's work, along with all copies thereof in Subcontractor's and Personnel's possession and control.

h. Subcontractor acknowledges and agrees that the disclosure of any Confidential Information or any other violation of the terms of this Section 4 would cause immediate and irreparable injury, loss and damage to OSI and/or its affiliates and that an adequate remedy at law for such injury, loss and damage may not exist, and that in the event
of such disclosure or threatened disclosure, OSI and/or its affiliates shall be entitled to institute and prosecute proceedings in a court of competent jurisdiction to obtain temporary and/or permanent injunctive relief to enforce a provision of this Agreement, without the necessity of proof of actual damage or loss.

i. Subcontractor further agrees that the provisions of this Section 4 shall be binding upon not only on Subcontractor and Personnel, but on Subcontractor's and Personnel's heirs, executors, administrators, successors and assigns, and that said provisions shall survive the termination of this Agreement for any reason, for five years after
the termination date.

j. During the Term hereof and for a period of twelve (12) months thereafter, the Subcontractor shall not, either for itself or on behalf of any third party:  (i) in any manner induce any employee, agent, customer, representative or supplier of the Company to terminate such
dealings or association with the Company; or (ii) do anything, directly or indirectly, to interfere with the relationship between the Company and any such person or concern.

k. Subcontractor shall obtain the specific written agreement of Personnel to each of the provisions of this Section 4 prior to commencement of work by Subcontractor or any member of Subcontractor's staff.

l. Subcontractor shall be responsible for and indemnify OSI against, any loss, claims or expenses arising from any breach of this Section 4 by Subcontractor and Personnel.

5.          REPRESENTATIONS AND WARRANTIES OF SUBCONTRACTOR

a. Personnel are the employees of Subcontractor; Personnel are not and shall not be deemed to be, employees of OSI. Subcontractor shall be solely responsible to pay, when due, salaries, wages and other forms of compensation or reimbursement and all applicable federal, state and local withholding taxes and unemployment taxes, as well as
social security, state disability insurance and all other payroll charges payable to, or on behalf of, Personnel providing services hereunder. Subcontractor shall indemnify and hold OSI and its affiliates harmless from and against, and in respect of, any and all Losses (as defined below) arising out of claims from Personnel. On or before commencement of services under any Work Schedule, Subcontractor shall deliver to OSI documentation executed by all Personnel named in each Work Schedule acknowledging the terms
of and agreeing to be bound in all respects by this Agreement.

 

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b. Subcontractor represents and warrants that, in the event it is a corporate entity, it is a corporation duly organized, validly existing and in good standing under the laws of its state of incorporation. OSI may elect to contract with an unincorporated Subcontractor that has not been an independent business for two years or more, subject
to individual review and determination by OSI.

c. Subcontractor represents and warrants that it has the full power and authority to own or lease its properties and to carry on its business as it is now being conducted, and is qualified to conduct business as a foreign corporation, a foreign partnership, or sole proprietorship, subject to the limitations of this Section 5, in all jurisdictions
in which the nature of the business contemplated by this Agreement requires such qualification.

d. Subcontractor represents and warrants that it maintains books and records in the ordinary course of its business reflecting Subcontractor's business activities. Subcontractor's federal tax identification number is set forth on the signature page to this Agreement. The board of directors, general partner, or other authorized agent of
Subcontractor has taken all actions required by applicable law, the articles of incorporation or bylaws, partnership agreement or otherwise, to authorize the transactions contemplated by this Agreement.

e. Subcontractor certifies that it is fully in compliance, if applicable, with Executive Order 11246, The Rehabilitation Act of 1973, as amended, and the Vietnam Era Veterans Readjustment Assistance Act of 1974. Subcontractor further certifies that it has maintained records sufficient to document its compliance with these requirements.

Both parties agree to comply with all applicable equal employment opportunity laws, including Title VII of the 1964 Civil Rights Act, the Civil Rights Act of 1991, the Americans with Disabilities Act, and, if applicable, the affirmative action requirements of Executive Order 11246, the Rehabilitation Act of 1973, as amended, and the Vietnam
Era Veterans Readjustment Assistance Act of 1974, as amended.

f. Subcontractor warrants that all services provided hereunder shall be of the highest professional standards, quality and workmanship and shall be provided using Subcontractor's and Personnel's independent skill and judgment in the means and manner that are most suitable to perform the work contemplated hereunder. Subcontractor and/or
Personnel shall immediately notify OSI if it is asked to perform services it is not qualified to perform or if it is not capable of providing any of the services required hereunder. While on the site of OSI's business, Subcontractor shall, and shall cause Personnel to, abide by OSI's applicable rules and regulations at all times.

g. All information provided by Subcontractor and Personnel to OSI or upon which OSI has relied, including, without limitation, resumes, interviews and references, is complete, true and correct in all material respects. There is no fact which materially and adversely affects the ability of Subcontractor and Personnel to provide the services
contemplated hereunder which has not been expressly and fully set forth to OSI.

h. Subcontractor shall fully comply, and shall cause Personnel to fully comply, with the employment eligibility verification and other provisions of the Immigration Reform and Control Act of 1986 and regulations promulgated thereunder, as such may be amended from time to time, 

 

 

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and Subcontractor shall not provide to OSI any Personnel if Subcontractor knows, or has any reason to believe, that such Personnel is not authorized to perform the services required under the applicable Work Schedule in the United States.

i. Subcontractor represents and warrants that Subcontractor's and Personnel's execution and delivery of this Agreement and the performance of its duties hereunder do not, and will not, breach or conflict with any obligation of Subcontractor and Personnel to a previous employer, client or other party or any obligation to keep confidential
any information acquired by Subcontractor and Personnel prior to the date hereof. Subcontractor further represents and warrants that it will not, and shall cause Personnel not to, make use of any proprietary information, ideas or material of others in connection with Subcontractor's engagement by OSI.

6.           INDEMNITY

Subcontractor agrees that OSI will not be responsible for any losses, damages, expenses or claims arising from any personal injury, thefts or other property damage sustained in connection with the provision of Services by Subcontractor and Personnel. Subcontractor assumes the risk for all such activities and Subcontractor agrees to indemnify,
and hold harmless, OSI from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs and attorney’s fees related thereto.

OSI agrees to indemnify, and hold harmless, the Subcontractor from and against claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs and attorney’s fees (a) related to bodily injury or death of any person or damages to real and/or tangible property incurred
by any third party resulting from the gross negligence or willful misconduct of OSI or its agents, (b) based on a claim that any materials modified or enhanced by Subcontractor under this Agreement to the extent such modifications or enhancements are effected in accordance with OSI’s direction or specifications infringes any United States copyright, patent or other U.S. intellectual property right of a third party, or (c) that may result from any third party claims arising out of or relating to Subcontractor’s
Services or any use by OSI of any deliverable item except to the extent any such claim is finally determined to have resulted from the negligence or willful misconduct of Subcontractor.

7.              ATTORNEYS' FEES AND COSTS

Should any party be required to bring legal action against the other to enforce the terms and conditions of this Agreement, the prevailing party shall be awarded its costs incurred and expended during the pendency of litigation, including reasonable attorneys' fees.

8.             MISCELLANEOUS

a. The obligations contained in this Agreement shall be binding upon not only Subcontractor, but on Subcontractor's Personnel. Subcontractor will advise its Personnel of the terms of this Agreement and will obtain the written acknowledgement and agreement of all Personnel to be bound by all of the terms and conditions of this Agreement.

 

 

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b. This Agreement constitutes the entire agreement between the parties with respect to the matters contained herein and supersedes any and all prior and contemporaneous agreements, negotiations, correspondence, undertakings and communications of the parties, oral or written, with respect to that subject matter. If any provision of this
Agreement is held to be invalid or unenforceable, such invalidity or unenforceability shall not affect or impair the validity or enforceability of the remaining provisions of this Agreement.

c. Subcontractor may not, without the express written permission of OSI, assign, subcontract work or pledge any rights or obligations hereunder.

d. No amendment or modification of this Agreement shall be valid unless evidenced by a written instrument executed by the parties hereto. No waiver by OSI of any provision or condition of this Agreement shall be deemed a waiver of any similar or dissimilar provision or condition at the same time or any prior or subsequent time.

e. This Agreement shall be governed by and construed in accordance with the laws of the state in which an activity occurred or threatens to occur and with respect to which legal and/or equitable relief is sought. In no event shall the choice of law be predicated upon the fact that OSI is incorporated or has its corporate headquarters in
a certain state.

f. Any and all disputes, controversies and claims arising out of or relating to this Agreement or concerning the respective rights or obligations hereunder of the parties hereto shall be settled and determined by arbitration before the Commercial Panel of the American Arbitration Association in accordance with the Commercial Arbitration
Rules. The arbitrators shall have the power to award specific performance or injunctive relief and reasonable attorneys' fees and expenses to any party in any such arbitration. However, in any arbitration proceeding arising under this Agreement, the arbitrators shall not have the power to change, modify or alter any express condition, term or provision hereof, and to that extent the scope of their authority is limited. The arbitration award shall be final and binding upon the parties and judgment thereon may
be entered in any court having jurisdiction thereof.

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

Subcontractor                                                                                     OxySure
Systems, Inc.

___________________________

Corporate Name

By: _________________________                                                                                     By:
______________________

Signature                                                                           Signature

____________________________                                                                                     _________________________

                    Printed Name                                                                                                Printed
Name

____________________________                                                                                     _________________________

Title                                                                                                Title

____________________________

Federal I.D. Number

  

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EXHIBIT A

 

WORK SCHEDULE

This Schedule is issued pursuant to the OSI Subcontractor Services Agreement dated as of _____________________________ by and between ("Subcontractor") and OxySure Systems, Inc.

Description of Work:_____________________________ .

Work Location:_________________________________ 

Personnel Name:________________________________  

 

Monthly Pay Rate:  $_______________________per month

Expected Start Date:_____________________________   

Expected Project Length:__________________________     

Client Project Manager(s) and Phone Number(s):________                   

OSI Contact and Phone Number:__________________________________    

Travel Arrangements and Other Expenses: Subject to prior written approval of OSI.

Accepted By:

Subcontractor                                                                           OxySure
Systems, Inc.

______________________________

Corporate Name

By: ___________________________                                                                By:
___________________________

Signature                                                                                     Signature

______________________________                                                                ______________________________

Printed Name                                                                                                Printed
Name

______________________________                                                                ______________________________

Title                                                                                      Title

  

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EXHIBIT B
TERMINATION CERTIFICATE

The undersigned, on its own behalf and, if applicable, on behalf of its directors, officers, members, employees, agents contractors and/or affiliates, hereby certifies that I do not have in my possession, nor has such party failed to return any Confidential Information (or any copies or reproductions thereof), devices, records, data, notes,
reports, proposals, lists, correspondence, specifications, software, documents, or property, or reproductions of any aforementioned items belonging OxySure Systems, Inc., a Delaware corporation, its affiliates, successors, or assigns (together, ”OSI”).

The undersigned, on its own behalf and, if applicable, on behalf of its directors, officers, members, employees, agents, contractors and/or affiliates, hereby certifies that such party has complied with all the terms of that certain Subcontractor Services Agreement signed by the undersigned, including the reporting of any Inventions and
disclosure and return of all Confidential Information (as defined therein), conceived or made by such party (solely or jointly with others) covered by that agreement.

The undersigned, on its own behalf and, if applicable, on behalf of its directors, officers, members, employees, agents, contractors and/or affiliates, hereby agrees, that in compliance with Subcontractor Services Agreement, such party will preserve as confidential all trade secrets, confidential knowledge, data or other proprietary information
relating to products, processes, designs, formulas, developmental or experimental work, computer programs, data bases, other original works of authorship, customer lists, business plans, financial information or other subject matter pertaining to any business of OSI or any of its clients, subcontractors of licensees.

Dated this ____ day of ____________________, 200___.

 

 

 

______________________________________
(Name of Subcrontactor)           

 

 

By: ________________________________________

Name: ___________________________________

Title:____________________________________

  

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