Document:

Project Order #1

Statement of Work #1.30

Submitted by

Extranome, Inc.

253 Warren Avenue

Fort Lee, NJ 07024

Phone: 201 969-1651

Fax: 201 969-1651

April 1, 2011

 

  

 

  

	
Baeta Corp – Project Order #1 Statement Of Work

Table of Contents

	
1

	
Statement of Work

	
3

	
2

	
Scope of work

	
3

	
3

	
Expectations from Vendor

	
4

	
4

	
Expectations from Client

	
5

	
5

	
Intellectual Property

	
5

	
6

	
Change Management

	
5

	
7

	
Plan and Schedule

	
6

	
8

	
Pricing

	
6

	
9

	
Terms and Conditions

	
6

	
10

	
Support Files

	
 

	
Extranime, Inc Proprietary – Confidential

	
Page 2 of 7

  

 

  

	
Baeta Corp – Project Order #1 Statement Of Work

	
1

	
Statement of Work

This Statement of Work for Project Order #1 (“Project Order #1”) is made and entered into as of this 1st day of November 2008 (the “Effective Date”), by and between Extranome Inc. (hereinafter referred to as "Vendor"), and Baeta Corp, (hereinafter referred to as “Client”) (collectively, the “Parties”). This Project Order #1 is governed by the terms and conditions set forth herein and in the Agreement # soft.2/11012008 from November 1, 2008.  In the event of a conflict between the Agreement # soft.2/11012008 from November 1, 2008 and this Project Order #1, the terms and conditions of this Project Order #1 shall prevail.

 

	
2

	
Scope of work

 

The scope of work is defined in the separate Software Requirements Specifications (SRS), technical part defined as part of design documentation (DD) and all time lines and milestones are defined by LOE and Project Plans per agreed scope of work.

 

Actual tasks fulfilled in March 2011:

 

MyHealthTrends for Weight Control and MyHealthTrends for Pain (98%)

 

Quality Assurance efforts

Following releases have been tested:

MyHealthTrends for Pain QA

Server S/W:

versions 1.4.0.14, 1.4.0.15

MyHealthTrends for Weight Control QA Environment

Server S/W:

versions 1.4.0.14, 1.4.0.15

 

Maintenance the current SW in Production

 

No new bugs have been yet reported in production.

 

HHC v3.1 Battery Tests

 

The electronic widget to test the lifetime of batteries has been designed and assembled and two devices of model HHC 3.1 brought into testing. Test conditions: number of clicks per day 200; battery model Sanyo CR2450.

Testing still continue.

	
Extranime, Inc Proprietary – Confidential

	
Page 3 of 7

  

 

  

 

	
Baeta Corp – Project Order #1 Statement Of Work

 

SW Development Activities: MHT Pain “Merge Patient & Practitioner SW Phase II, Administration pages.”

 

ITOPS efforts [SEC]

IT maintenance for PROD and QA environments has been performed.

 

Baeta Marketing Pages Repository (1%)

 

ITOPS efforts

IT maintenance for PROD and QA environments has been performed.

 

MyHealthID (1%)

 

ITOPS efforts

IT maintenance for PROD and QA environments is performed.

 

Tasks planned to be performed in April 2011

 

ITOPS maintenance

Perform IT maintenance for products “MHT for Pain”, “MHT for Weight Control”, “MyHealthID”, “Baeta Marketing Pages Repository”, hosted in QA and PROD environment.

 

“MyHealthTrends for Weight Control” and “MyHealthTrends for Pain”

Do maintenance for MHT Weight Control in production

MHT Pain: Complete requirements for changes in reporting system and implement them. Complete QA and pass release in UAT.

 

3 Expectations from Vendor

 

	
  

	
1.

	
All Vendor personnel will be provided with a computer having a configuration adequate to perform their respective tasks.

 

	
  

	
2.

	
Vendor will furnish weekly status reports. These reports will be based on the tasks assigned to and performed by them.

 

	
  

	
3.

	
Vendor will bring to the notice of Client any issue, technical or otherwise that may be a potential risk to the task to be performed and will keep Client informed of the remediation steps taken to mitigate such risks.

 

	
  

	
4.

	
Vendor’s team will interact closely with the Client at all stages of the Project.

 

	
Extranime, Inc Proprietary – Confidential

	
Page 4 of 7

 

  

 

  

 

	
Baeta Corp – Project Order #1 Statement Of Work

 

	
  

	
5.

	
Vendor will recommend changes to the environment, including the use of newer releases of the system and framework software, if it can justify that such changes will result in a better end product.

 

	
  

	
6.

	
Vendor will ensure that the work they do can be verified and audited.

 

	
  

	
7.

	
Vendor will provide all required environment for the work and support by IT&S team for smooth development as needed unless dedicated resources required.

 

4 Expectations from Client

 

	
  

	
1.

	
Client will determine the prioritization of the tasks to be performed.

 

	
  

	
2.

	
Client will provide all assistance required in the understanding of the scope during the entire length of the Project.

 

	
  

	
3.

	
Client will cover, after mutual agreement, all costs for specific software, systems, machines, technologies and licenses which are not part of standard development tools and technologies and specific to Baeta Corp. work.

 

	
  

	
4.

	
Client will cover all travel related expenses and travel allowance at actual costs if this is required and approved by Baeta Corp.

 

	
  

	
5

	
Intellectual Property

 

Intellectual Property of all work undertaken on behalf of Client shall vest with Baeta Corp.

 

	
6

	
Change Management

 

Once a design document has been approved by Client, all changes in the scope of work will have to be approved by both parties after due consideration to the impact that it may have on the schedule and effort. Such changes may result in the financial considerations for the Project to be revised.

	
Extranime, Inc Proprietary – Confidential

	
Page 5 of 7

 

  

 

  

	
Baeta Corp – Project Order #1 Statement Of Work

 

	
7

	
Plan and Schedule

 

The plan for developing of the application as stated in the section Scope of Work is as follows:

 

	
  

	
1.

	
Extranome, Inc. will have assigned software engineers and designers for the projects personnel at their own premises.

 

	
  

	
2.

	
All work will be performed based on separate Software Requirements Specifications and Project Plans.

 

	
8

	
Pricing

 

The statement of work performs as time and materials (T&M) agreement with initial team of:

 

	
  

	
·

	
1 Project Manager

 

	
  

	
·

	
1 Technical Lead / Senior Software Developer

 

	
  

	
·

	
1 Graphic Designer

 

	
  

	
·

	
2 Software Engineers

 

The cost of initial team is $30,000 per month. The costs covers costs of labor, base work environment and license costs. All specific to the project licenses, machines, parts or equipment are additional to this cost.

 

Any additional resources are subject to a separate agreement or $50 per hour with prior agreement by the Client.

 

	
9

	
Terms and Conditions

 

The work is based on 40 hours week, 12 months a year excluding official holidays and vacations, from 9:00am EST to 5:00pm EST schedule. All vacation and holidays will be communicated to the Client in advance and if this is required - Vendor will provide adequate replacement during the member(s) leave of absence.

 

	
/s/ Len Pushkantser

	  	
/s/ Dr. Alexander Gak

	  	  	  	  
	
By: /s/ 

	
       

	  	
By: /s/ 

	
       

 

	
Extranime, Inc Proprietary – Confidential

	
Page 6 of 7

 

  

 

  

 

	
Baeta Corp – Project Order #1 Statement Of Work

 

	
Baeta Corp.

	  	
Extranome, Inc

	  	  	  
	
      

	  	
      

	  	  	  
	
Len Pushkanster

	  	
Alexander Gak

	
Baeta Corp.

	  	
Extranome, Inc.

	
1 Bridge Plaza Suite 275

	  	
253 Warren Av

	
Fort Lee, NJ 07024

	  	
Fort Lee, NJ 07024

	
Phone: 201.471.0988

	  	
Phone: 201.969.1651

 

	
Extranime, Inc Proprietary – Confidential

	
Page 7 of 7EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (the "Agreement") is entered into on March 1 st. 2011, by BAETA Corp., a New Jersey corporation with its principal business offices located at 1 Bridge Plaza, Suite 275 Fort Lee, NJ 07024 (the "Company"),  and Michael Semenovski, MD, an individual residing at 33 Pond Ave. Apt B1204, Brookline, MA 02245 ("Executive").

 

The Company desires to employ Executive, and Executive desires to be employed by the Company on the terms set forth in this Agreement.

 

In consideration of the mutual covenants and premises contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Company and Executive, the Company and Executive agree as follows:

 

1. Term of Employment. Upon the terms set forth in this Agreement, the Company employs Executive and Executive accepts employment with the Company for the period commencing on March 01, 2011 and ending on March 01, 2016 (such period, the "Original Term"), unless sooner terminated in accordance with the provisions of Section 4 below. Upon the expiration of the Original Term, the term of Executive's employment will not automatically extend for any additional term.

 

  

1

  

 

2. Title and Capacity. Executive will serve as the Chief Medical Officer of the Company, and will perform the duties commensurate with such positions and such other duties as the Company's Board of Directors (the "Board") or the Chairman may assign to Executive consistent with his position.  Executive will devote attention and energies on a part-time basis to the above duties, and Executive will maintain, during the term of this Agreement, the ability to actively engage in any other for profit business activity.

 

3. Compensation and Benefits.

 

	
  

	
3.1

	
Compensation 

 

(a) During the Original Term, the Executive will receive an annual base compensation of:  60,000 common shares of BAETA Corp.

 

	
  

	
3.2

	
Payment in Installments.

 

The Company will pay Executive's annual base compensation in 12 (twelve)  installments. 

 

	
  

	
3.3

	
Stock Options. 

 

(a) On March 1, 2011, the date on which the Board considered and approved the employment of Executive subject to the execution of this Agreement, the Company approved the grant to Executive of options to acquire 50,000 shares of the Company's common stock under the Company's 2009 Equity Compensation Plan (the "Plan Options"). The Plan Options will have a term of five years and will be first exercisable as follows:

 

10,000 shares on March 1, 2012;

 

10,000 shares on March 1, 2013;

 

10,000 shares on March 1, 2014;

 

  

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10,000 shares on March 1, 2015;

 

and 10,000 shares on March 1,  2016.

 

All options will be exercisable at $0.50 per share. 

 

(b) The Plan Options will be vested and exercisable in full under the terms of the stock option agreement between the Company and Executive for at least 12 months (a) if the Company terminates Executive's employment under Section 4.3 for any reason other than for cause, (b) if Executive terminates Executive's employment under Section 4.5(b) for good reason, (c) in the event of Executive's death or "disability," as defined in the Equity Plan or (d) in the event of a "Change in Control," as such term is defined in the Equity Plan. Except as provided in this Section 3.3, the Plan Options are in all respects subject to the terms of the Equity Plan and the stock option agreement between the Company and Executive covering the Plan Options.

 

	
3.4

	
Expenses. 

 

(a) The Company will reimburse Executive for all reasonable travel, entertainment and other expenses incurred or paid by Executive in connection with, or related to, the performance of his duties under this Agreement in accordance with the Travel and Expense Policy published by the Company's Finance Department for senior executives generally, as amended from time to time.

 

  

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3.5                Stock Purchase. Within 60 days of Executive's first date of employment, Executive may purchase from the Company up to 120,000 shares of the Company's common stock at a price of $0.50 per share. These shares will not be subject to any restrictions other than those applicable under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

4.  Employment Termination. The employment of Executive by the Company under this Agreement will terminate upon the occurrence of any of the following:

 

4.1                Expiration of Term. At the election of Executive or the Company upon the expiration of the Original Term or any Additional Term if Executive or the Company notified the other pursuant to Section 1 above that Executive's employment under this Agreement will not be extended for an Additional Term.

 

4.2                 Cause. At the election of the Company, for "cause" as defined below, immediately upon written notice by the Company to Executive, except as provided below. "Cause" for termination is deemed to exist by reason of (a) any action by Executive resulting in the conviction of Executive of, or the entry of a plea of guilty or nolo contendere by Executive to, any crime involving moral turpitude, any felony, or any misdemeanor involving misconduct or fraud in business activities, (b) any breach of a fiduciary duty to the Company involving personal profit, (c) Executive's willful misconduct, or recklessness or gross negligence in the performance of his duties under this Agreement, (d) any action by Executive that violates Section 6, or (e) repeated refusals by Executive to comply with the reasonable directives of the Chief Executive Officer of the Company or the Board that are consistent with his position; provided, however, that the Company may terminate Executive's employment under Sections 4.2 (d) or (e) above only after Executive fails  to commence and continue to correct or cure each specific instance comprising cause within 10 days of receipt by Executive of written notice of the Board identifying each instance constituting cause or  to correct or cure each identified instance within 45 days of receipt of such notice.

 

  

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4.3                Without Cause. At the election of the Company, at any time, upon 60 days written notice for any reason whatsoever other than for cause.

 

4.4                Death or Disability. Upon Executive's death or 30 days after Executive's disability. "Disability" means the inability of Executive, due to a physical or mental disability, to perform the duties contemplated under this Agreement for a period of 180 consecutive days. A physician satisfactory to Executive and the Company will determine if Executive is disabled. If Executive and the Company cannot agree on a physician within 30 days of either party's written notice to the other, Executive and the Company will each select a physician, who will together select a third physician. The determination of the physician(s) as to disability will be binding on all parties.

 

  

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4.5                Termination by Executive. At the election of Executive: (a) at any time if his health should become impaired to an extent that makes the continued performance of his duties under this Agreement hazardous to his physical or mental health or his life, as certified by a physician designated by Executive and reasonably acceptable to the Company; (b) for "good reason" upon delivery of written notice of such "good reason" to the Company; or (c) upon 60 days written notice of termination. "Good reason" means:

 

(1) the failure by the Company to continue Executive in the position of Chief Medical Officer of the Company (or such other senior executive position as may be offered by the Company and which Executive may in his sole discretion accept);

 

(2) material diminution by the Chief Executive Officer of the Company or the Board of Executive's responsibilities, duties, reporting relationships or authority as Chief Medical Officer of the Company (or such other senior executive position as may be offered by the Company and which Executive may in his sole discretion accept) or assignment to Executive of any duties inconsistent with Executive's position as Chief Medical Officer of the Company (or such other senior executive position as may be offered by the Company and which Executive may in his sole discretion accept);

 

(3) failure by  the Company to pay and provide to Executive the compensation provided  in Section 3.1 above, which failure is not cured within 30 days after written notice of  such failure is delivered by Executive to the Company;

 

  

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(4) requiring Executive to be permanently based anywhere other than within 50 miles of  his present home in Brookline, MA(excluding reasonable business related travel  as required by the Company's business);

 

or (5) any other material breach of this Agreement by the Company, which breach is not  cured within 14 days after written notice of such breach is delivered by Executive to the  Company.

 

	
/s/ Dr. Michael Semenovski, MD

	  	
/s/ Mr. Leonid Pushkantser

	
Dr. Michael Semenovski

	  	
Leonid Pushkantser, CEO Baeta Corp.

	
Date

	  	
Date

	
March 1, 2011

	  	
 March 1, 2011

  

7

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