Document:

Filed by Avantafile.com - The Pulse Beverage Corporation - Exhibit 10-2

 

     

__________

EXECUTIVE
SERVICES AGREEMENT

Between:

THE PULSE
BEVERAGE CORPORATION

And:

ROBERT YATES

The Pulse
Beverage Corporation

__________

EXECUTIVE
SERVICES AGREEMENT

                        THIS EXECUTIVE SERVICES
AGREEMENT
is made and dated for reference as fully executed on this 1rst day of March,
2011 with effect as of February 16, 2011.

AMONG EACH OF:

	 	
THE PULSE
BEVERAGE CORPORATION, a company
incorporated under the laws of the State of Nevada, U.S.A., and having an
office and an address for notice and delivery located at 12195 Mariposa Street,
Westminster, CO

	 	(the “Company”);

OF THE FIRST PART

AND:

	 	
ROBERT YATES, businessperson, having an address for notice and delivery located at
11580 Quivas Way, Westminster, Colorado, USA 80234

	 	(the “Executive”);

OF THE THIRD PART

	 	(the Company and
the Executive being hereinafter singularly also referred to as a “Party”
and collectively referred to as the “Parties” as the context so
requires).

	 	
WHEREAS:

A.                    The
Company is a reporting company incorporated under the laws of the State of
Nevada, U.S.A., and has its common shares listed for trading on the OTCBB under
the symbol PLSB;

B.                    The Company owns
certain tangible assets and intangible assets being formulations,
rights, trademarks and patents of a nutraceutical
(or functional) water-based beverage called Pulse® and will use such assets in
the manufacture and distribution of the Pulse® branded products (collectively,
the “Business”);

C.                    In conjunction with the recent
completion by the Company of its acquisition of The Pulse Beverage Corporation,
a Colorado Corporation; of which the Executive was a vendor thereof; the
resulting Company is now involved in the principal Business of The Pulse
Beverage Corporation and, as a consequence thereof, the Company is hereby
desirous of appointing the Executive as the President, Chief Executive Officer
and Chief Financial Officer of the Company, and the Executive is hereby
desirous of accepting such positions, in order to provide such related services
to the Company (collectively, the “General Services”);

D.                    Since the introduction of the
Parties hereto the Parties hereby acknowledge and agree that there have been
various discussions, negotiations, understandings and agreements between them
relating to the terms and conditions of the General Services and,
correspondingly, that it is their intention by the terms and conditions of this
agreement (the “Agreement”) to hereby replace, in their entirety, all
such prior discussions, negotiations, understandings and agreements with
respect to the General Services; and

- 2 -

E.                     The Parties hereto have agreed
to enter into this Agreement which replaces, in its entirety, all such prior
discussions, negotiations, understandings and agreements, and, furthermore,
which necessarily clarifies their respective duties and obligations with
respect to the within General Services to be provided hereunder, all in
accordance with the terms and conditions of this Agreement;

                        NOW THEREFORE THIS AGREEMENT
WITNESSETH that, in consideration of the mutual covenants and provisos
herein contained, THE PARTIES HERETO AGREE AS FOLLOWS:

Article 1

DEFINITIONS AND INTERPRETATION

1.1                   Definitions.   For
all purposes of this Agreement, except as otherwise expressly provided or
unless the context otherwise requires, the following words and phrases shall
have the following meanings:

	 	(a)	“Agreement”
means this Executive Services Agreement as from time to time supplemented or
amended by one or more agreements entered into pursuant to the applicable
provisions hereof, together with any Schedules attached hereto;

	 	(b)	“Arbitration
Rules” means the Rules of the American Arbitration Association, as amended from time to time, as set forth in
Article “9” hereinbelow;

	 	(c)	“Board
of Directors” means the Board of Directors of the Company as duly
constituted from time to time;

	 	(d)	“Business”
has the meaning ascribed to it in recital “C.” hereinabove.

	 	(e)	“business
day” means any day during which Chartered Banks are open for business in
the City of Hong Kong, People’s Republic of China;

	 	(f)	“Company”
means The Pulse Beverage Corporation, a company incorporated under the laws of
the State of Nevada, U.S.A., or any successor company, however formed, whether
as a result of merger, amalgamation or other action;

	 	(g)	“Company”
means, collectively, the Company and The Pulse Beverage Corporation, or any
successor Company, however formed, whether as a result of merger, amalgamation
or other action;

	 	(h)	“Company’s
Non-Renewal Notice” has the meaning ascribed to in section “3.2”
hereinbelow;

	 	(i)	“Effective
Date” has the meaning ascribed to in section “3.1” hereinbelow;

	 	(j)	“Effective
Termination Date” has the meaning ascribed to it in each of sections “3.3”,
“3.4”, “3.5”, “3.6” and “5.3” hereinbelow;

- 3 -

	 	(k)	“Executive”
means Robert Yates;

	 	(l)	“Expenses”
has the meaning ascribed to it in section “4.5” hereinbelow;

	 	(m)	“Fee”
has the meaning ascribed to it in section “4.1” hereinbelow;

	 	(n)	“Initial
Term” has the meaning ascribed to it in section “3.1” hereinbelow;

	 	(o)	“General
Services” has the meaning ascribed to it in section “2.1” hereinbelow;

	 	(p)	“Indemnified
Party” has the meaning ascribed to it in section “7.1” hereinbelow;

	 	(q)	“Notice
of Termination Date” has the meaning ascribed to it in each of sections
“3.3”, “3.4”, “3.5” and “5.3” hereinbelow;

	 	(r)	“OTC”
means the Pink OTC Markets;

	 	(s)	“Parties”
or “Party” means, individually and collectively, the Company, and/or the
Executive hereto, as the context so requires, together with each of their
respective successors and permitted assigns as the context so requires;

	 	(t)	“Property”
has the meaning ascribed to it in section “5.4” hereinbelow;

	 	(u)	“subsidiary”
means
any company or Company of which more than 50% of the outstanding shares
carrying votes at all times (provided that the ownership of such shares confers
the right at all times to elect at least a majority of the directors of such
company or Company) are for the time being owned by or held for that company
and/or any other company in like relation to that company and includes any
company in like relation to the subsidiary; and

1.2                   Interpretation.  
For the purposes of this Agreement, except as otherwise expressly provided
or unless the context otherwise requires:

	 	(a)	the words “herein”,
“hereof” and “hereunder” and other words of similar import refer
to this Agreement as a whole and not to any particular Article, section or
other subdivision of this Agreement;

	 	(b)	any
reference to an entity shall include and shall be deemed to be a reference to
any entity that is a permitted successor to such entity; and

	 	(c)	words in
the singular include the plural and words in the masculine gender include the
feminine and neuter genders, and vice versa.

Article 2

GENERAL SERVICES AND DUTIES OF THE EXECUTIVE

2.1                   General
Services.   During the Initial
Term and during the continuance of this Agreement the Company hereby agrees to
retain the Executive as the President and Chief Executive Officer of each of
the Company, and the Executive hereby
agrees to be subject to the direction and supervision of, and to have the
authority as is delegated to the Executive by, the Board of Directors
consistent with such positions, and the Executive also agrees to accept 

- 4 -

such
  positions in order to provide such related services as the Board of Directors
  shall, from time to time, reasonably assign to the Executive and as may be
  necessary for the ongoing maintenance and development of the Company’ various
  Business interests during the Initial Term and during the continuance of this
  Agreement (collectively, the “General Services”); it being expressly
  acknowledged and agreed by the Parties hereto that the Executive shall
  initially commit and provide to the Company the General Services on a
  reasonably full-time basis during the Initial Term and during the continuance
  of this Agreement for which the Company, as more particularly set forth
  hereinbelow, hereby agrees to pay and provide to the order and direction of the
  Executive each of the proposed compensation amounts as set forth in Articles
  “4” hereinbelow.

                        In this regard it is hereby
acknowledged and agreed that the Executive shall be entitled to communicate
with and shall rely upon the immediate advice, direction and instructions of
the Chairman of the Board of Directors of the Company, or upon the advice or
instructions of such other director or officer of the Company as the Chairman
of the Board of Directors of the Company shall, from time to time, designate in
times of the Chairman’s absence, in order to initiate, coordinate and implement
the General Services as contemplated herein subject, at all times, to the final
direction and supervision of the Board of Directors.

2.2                   Additional duties
respecting the General Services.   Without in any manner limiting the
generality of the General Services to be provided as set forth in section “2.1”
hereinabove, it is hereby also acknowledged and agreed that Executive will,
during the Initial Term and during the continuance of this Agreement, devote
substantially all of the Executive’s consulting time to the General Services of
the Executive as may be determined and required by the Board of Directors for
the performance of said General Services faithfully, diligently, to the best of
the Executive’s abilities and in the best interests of the Company and,
furthermore, that the Executive’s consulting time will be prioritized at all
times for the Company in that regard.

2.3                   Adherence to rules and
policies of the Company.   The Executive hereby acknowledges and agrees
to abide by the reasonable rules, regulations, instructions, personnel
practices and policies of the Company and any changes therein which may be
adopted from time to time by the same as such rules, regulations, instructions,
personnel practices and policies may be reasonably applied to the Executive as the President, Chief
Executive Officer  and Chief Financial Officer of the Company.

Article 3

INITIAL TERM,
RENEWAL AND TERMINATION

3.1                   Effectiveness
and Initial Term of the Agreement.   The initial term of this Agreement
(the “Initial Term”) is for a period of 12 months commencing on February
15, 2011 (the “Effective Date”)

3.2                   Renewal
by the Company after the Initial Term.   Subject at all times to
sections “3.3”, “3.4”, “3.5” and “5.3” hereinbelow, this Agreement shall renew
automatically if not specifically terminated in accordance with the following
provisions.  The Company, on behalf of the Company, agrees to notify the
Executive in writing at least 90 calendar days prior to the end of the Initial
Term of its intent not to renew this Agreement (the “Company’s Non-Renewal
Notice”).  Should the Company fail to provide a Company’s Non-Renewal
Notice this Agreement shall automatically renew on a three-month to three-month
term renewal basis after the Initial Term until otherwise specifically renewed
in writing by each of the Parties hereto for the next three-month term of
renewal or, otherwise, terminated upon delivery by the Company of a
corresponding and follow-up 90 calendar day Company’s Non-Renewal Notice in
connection with and within 90 calendar days prior to the end of any such
three-month term renewal period.  

- 5 -

Any such renewal on a three-month basis shall
  be on the same terms and conditions contained herein unless modified and agreed
  to in writing by the Parties in advance.

3.3                   Termination
without cause by the Executive.   Notwithstanding any other provision
of this Agreement, this Agreement may be terminated by the Executive at any
time after the Effective Date and during the Initial Term and during the
continuance of this Agreement upon the Executive’s delivery to the Company of
prior written notice of its intention to do so (the “Notice of Termination”
herein) at least 30 calendar days prior to the effective date of any such
termination (the end of such 30-day period from such Notice of Termination
being the “Effective Termination Date” herein).  In any such event the
Executive’s ongoing obligation to provide the General Services will continue
only until the Effective Termination Date and the Company’s ongoing obligation
to provide and to pay to the Executive all of the amounts otherwise payable to
the Executive under Article “4” hereinbelow will continue only until the
Effective Termination Date.

3.4                   Termination
without cause by the Company.   Notwithstanding any other provision of
this Agreement, this Agreement may be terminated by the Company at any time
after the Effective Date and during the Initial Term and during the continuance
of this Agreement upon the Company’s delivery to the Executive of prior written
notice of its intention to do so (the “Notice of Termination” herein) at
least 30 calendar days prior to the effective date of any such termination (the
end of such 30-day period from such Notice of Termination being the “Effective
Termination Date” herein).  In any such event the Executive’s ongoing
obligation to provide the General Services will immediately cease upon the date
of the Notice of Termination, however, the Company shall continue to be
obligated to provide and to pay to the Executive all of the amounts otherwise
payable to the Executive under Article “4” hereinbelow until the end of the
entire Initial Term under this Agreement; such ongoing compensation
representing the Executive’s clear and unequivocal severance for the early
termination by the Company without cause of this Agreement prior to the
completion of the Initial Term.

3.5                   Termination
for cause by any Party.   Notwithstanding any other provision of this
Agreement, this Agreement may be terminated by any Party hereto at any time
upon written notice to the other Party of such Party’s intention to do so (the
“Notice of Termination” herein) at least 30 calendar days prior to the
effective date of any such termination (the end of such 30-day period from such
Notice of Termination being the “Effective Termination Date” herein),
and damages sought, if:

	 	(a)	 the
other Party fails to cure a material breach of any provision of this Agreement
within 21 calendar days from its receipt of written notice from said Party
(unless such material breach cannot be reasonably cured within said 21 calendar
days and the other Party is actively pursuing to cure said material breach);

	 	(b)	the other Party is willfully
non-compliant in the performance of its respective duties under this Agreement
within 21 calendar days from its receipt of written notice from said Party
(unless such willful non-compliance cannot be reasonably corrected within said
21 calendar days and the other Party is actively pursuing to cure said willful
non-compliance);

	 	(c) 	the other
Party commits fraud or serious neglect or misconduct in the discharge of its
respective duties hereunder or under the law; or

	 	(d)	the
other Party becomes adjudged bankrupt or a petition for reorganization or
arrangement under any law relating to bankruptcy, and where any such
involuntary petition is not dismissed within 21 calendar days.

- 6 -

            In
any such event the Executive’s ongoing obligation to provide the General
Services will continue only until the Effective Termination Date and the Company
shall continue to pay to the Executive all of the amounts otherwise payable to
the Executive under Article “4” hereinbelow until the Effective Termination
Date.

3.6                   Disability or death and
Advance.    Notwithstanding
any other provision of this Agreement, this Agreement may be terminated at any
time by any Party within 21 calendar days
after the death or disability of the Executive, as a without fault termination
(the resulting
effective date of any such termination being herein also the “Effective
Termination Date”).  For the purposes
of this Agreement the term “disability” shall mean the Executive shall
have been unable to provide the General Services contemplated under this
Agreement for a period of 90 calendar days, whether or not consecutive, during
any 360 calendar day period, due to a physical or mental disability.   A
determination of disability shall be made by a physician satisfactory to both
the Executive and the Company; provided that if the Executive and the Company
do not agree on a physician, the Executive and the Company shall each select a
physician and these two together shall select a third physician whose
determination as to disability shall be binding on all Parties.  In the event
that the Executive’s employment is terminated by death or because of disability
pursuant to this Agreement, the Company shall pay to the estate of the
Executive or to the Executive, as the case may be, all amounts to which the
Executive would otherwise be entitled under Article “4” hereinbelow until the Effective
Termination Date.

3.7                   Effect
of Termination.   Terms of this Agreement relating to accounting,
payments, confidentiality, accountability for damages or claims and all other
matters reasonably extending beyond the terms of this Agreement and to the
benefit of the Parties hereto or for the protection of the Business interests
of the Company shall survive the termination of this Agreement, and any matter
of interpretation thereto shall be given a wide latitude in this regard.  In
addition, and without limiting the foregoing, each of sections “3.3”, “3.4”,
“3.5”, “3.6” hereinabove and “5.3” hereinabove shall survive the termination of
this Agreement.

Article 4

COMPENSATION OF THE EXECUTIVE

4.1                   Fee.  
It is hereby acknowledged and agreed that the Executive shall render the
General Services as defined hereinabove during the Initial Term and during the
continuance of this Agreement and shall thus be compensated from the Effective
Date of this Agreement to the termination of the same by way of the payment by
the Company to the Executive, or to the further order or direction of the
Executive as the Executive may determine, in the Executive’s sole and absolute
discretion, and advise the Company of prior to such payment, of the gross
monthly fees of $8,500 (collectively, the “Fee”). All such Fees will be
due and payable by the Company to the Executive, or to the further order or
direction of the Executive as the Executive may determine, in the Executive’s
sole and absolute discretion, and advise the Company of prior to any such Fee
payment, bi-monthly and on or about the fifteenth and thirtieth day of each
month of the then monthly period of service during the continuance of this
Agreement.

4.2                   Payment of Fee and status
as a non-taxable consultant.   It is hereby also acknowledged and
agreed that the Executive will be classified as a non-taxable consultant of the
Company for all purposes, such that all compensation which is provided by the
Company to the Executive under this Agreement, or otherwise, will be calculated
on the foregoing and gross Fee basis and otherwise for which no statutory taxes
will first be deducted by the Company.

4.3                   Reimbursement
of Expenses.   It is hereby acknowledged and agreed that the Executive
shall also be reimbursed for all pre-approved, direct and reasonable expenses
actually and properly incurred by the Executive for the benefit of the Company
(collectively, the

- 7 -

 “Expenses”); and which pre-approved Expenses such as:
  (i)  the use of a mobile phone and blackberry service and (ii) the
  re-imbursement of the use of an automobile owned by the Executive on a per mile
  basis at $.50 per mile; and which pre-approved Expenses, it is hereby
  acknowledged and agreed, shall be payable by the Company to the order,
  direction and account of the Executive as the Executive may designate in
  writing, from time to time, in the Executive’s sole and absolute discretion, as
  soon as conveniently possible after the prior delivery by the Executive to the
  Company of written substantiation on account of each such reimbursable Expense.

Article 5

ADDITIONAL
OBLIGATIONS OF THE EXECUTIVE

5.1                   Reporting.  
At such time or times as may be required by the Board of Directors, acting
reasonably, but not more than once a week, the Executive will provide the Board
of Directors with such information concerning the results of the Executive’s
General Services and activities hereunder for the previous month as the Board
of Directors may reasonably require.

5.2                   Opinions,
reports and advice of the Executive.   The Executive acknowledges and
agrees that all written and oral opinions, reports, advice and materials
provided by the Executive to the Company in connection with the Executive’s
engagement hereunder are intended solely for the Company’s benefit and for the
Company’s uses only, and that any such written and oral opinions, reports,
advice and information are the exclusive property of the Company.  In this
regard the Executive covenants and agrees that the Company may utilize any such
opinion, report, advice and materials for any other purpose whatsoever and,
furthermore, may reproduce, disseminate, quote from and refer to, in whole or
in part, at any time and in any manner, any such opinion, report, advice and
materials in the Company’s sole and absolute discretion.  The Executive further
covenants and agrees that no public references to the Executive or disclosure
of the Executive’s role in respect of the Company may be made by the Executive
without the prior written consent of the Board of Directors in each specific instance
and, furthermore, that any such written opinions, reports, advice or materials
shall, unless otherwise required by the Board of Directors, be provided by the
Executive to the Company in a form and with such substance as would be
acceptable for filing with and approval by any Regulatory Authority having
jurisdiction over the affairs of the Company from time to time.

5.3                   Executive’s
business conduct.   The Executive warrants that the Executive shall conduct
the business and other activities in a manner which is lawful and reputable and
which brings good repute to the Company, the Company’s business interests and
the Executive.  In particular, and in this regard, the Executive specifically
warrants to provide the General Services in a sound and professional manner
such that the same meets superior standards of performance quality within the
standards of the industry or as set by the specifications of the Company.   In
the event that the Board of Directors has a reasonable concern that the
business as conducted by the Executive is being conducted in a way contrary to
law or is reasonably likely to bring disrepute to the business interests or to
the Company’s or the Executive’s reputation, the Company may require that the
Executive make such alterations in the Executive’s business conduct or
structure, whether of management or Board representation or employee or
sub-licensee representation, as the Board of Directors may reasonably require,
in its sole and absolute discretion, failing which the Company, in its sole and
absolute discretion, may terminate this Agreement upon prior written notice to
the Executive to do so (the “Notice of Termination” herein) at least 30
calendar days prior to the effective date of any such termination (the end of
such 30-day period from such Notice of Termination being the “Effective
Termination Date” herein).  In any such event the Executive’s ongoing
obligation to provide the General Services will continue only until the
Effective Termination Date and the Company shall continue to pay to the
Executive all of the amounts otherwise payable to the Executive under Article
“4” hereinabove until the Effective Termination.  In the event of any debate or
dispute as to the reasonableness of the Board of 

- 8 -

Directors’ request or
  requirements, the judgment of the Board of Directors shall be deemed correct
  until such time as the matter has been determined by arbitration in accordance
with Article “9” hereinbelow.

5.4                   Right
of ownership to the business and related Property.   The Executive hereby
acknowledges and agrees that any and all Company Business interests, together
with any products or improvements derived therefrom and any trade marks or
trade names used in connection with the same (collectively, the “Property”),
are wholly owned and controlled by the Company.  Correspondingly, neither this
Agreement, nor the operation of the business contemplated by this Agreement,
confers or shall be deemed to confer upon the Executive any interest whatsoever
in and to any of the Property.  In this regard the Executive hereby further
covenants and agrees not to, during or after the Initial Term and the
continuance of this Agreement, contest the title to any of the Property
interests, in any way dispute or impugn the validity of the Property interests or
take any action to the detriment of the Company’s interests therein.  The
Executive acknowledges that, by reason of the unique nature of the Property
interests, and by reason of the Executive’s knowledge of and association with
the Property interests during the Initial Term and during the continuance of
this Agreement, the aforesaid covenant, both during the Initial Term of this
Agreement and thereafter, is reasonable and commensurate for the protection of
the legitimate business interests of the Company.  As a final note, the
Executive hereby further covenants and agrees to immediately notify the Company
of any infringement of or challenge to the any of the Property interests as
soon as the Executive becomes aware of the infringement or challenge.

                        In
addition, and for even greater certainty, the Executive hereby assigns to the
Company the entire right, title and interest throughout the world in and to all
work performed, writings, formulas, designs, models, drawings, photographs,
design inventions, and other inventions, made, conceived, or reduced to
practice or authored by the Executive or the Executive’s employees, either
solely or jointly with others, during the performance of this Agreement, or
which are made, conceived, or reduced to practice, or authored with the use of
information or materials of the Company either received or used by the
Executive during the performance of this Agreement or any extension or renewal
thereof.  The Executive shall promptly disclose to the Company all works,
writings, formulas, designs, models, photographs, drawings, design inventions
and other inventions made, conceived or reduced to practice, or authored by the
Executive or the Executive’s employees as set forth above.  The Executive shall
sign, execute and acknowledge, or cause to be signed, executed and acknowledged
without cost to Company or its nominees, patent, trademark or copyright
protection throughout the world upon all such works, writings, formulas,
designs, models, drawings, photographs, design inventions and other inventions;
title to which the Company acquires in accordance with the provisions of this
section.  The Executive has acquired or shall acquire from each of the
Executive’s employees, if any, the necessary rights to all such works,
writings, formulas, designs, models, drawings, photographs, design inventions
and other inventions made by such employees within the scope of their
employment by the Executive in performing the General Services under this
Agreement.  The Executive shall obtain the cooperation of each such employee to
secure to the Company or its nominees the rights to such works, writings,
formulas, designs, models, drawings, photographs, design inventions and other
inventions as the Company may acquire in accordance with the provisions of this
section.  The work performed and the information produced under this Agreement
are works made for hire as defined in 17 U.S.C. § 101.

Article 6

ADDITIONAL
OBLIGATIONS OF THE PARTIES

- 9 -

6.1                   No
conflict, no competition and non-circumvention.   During the
continuance of this Agreement neither Party hereto shall engage in any business
or activity which reasonably may detract from or conflict with that Party’s
respective duties and obligations to other Party as set forth in this Agreement
without the prior written consent of the other Party hereto.  In addition,
during the continuance of this Agreement, and for a period of at least one year
following the termination of this Agreement in accordance with either of
sections “3.2”, “3.3”, “3.4”, “3.5”, “3.6” or “5.3” hereunder, no Party shall
engage in any business or activity whatsoever which reasonably may be
determined by the other Party hereto, in its sole and absolute discretion, to
compete with any portion of that Party’s respective business interests as
contemplated hereby without the prior written consent of that Party. 
Furthermore, each of the Parties hereby acknowledges and agrees, for a period
of at least one year following the termination of this Agreement in accordance
with either of sections “3.2”, “3.3”, “3.4”, “3.5”, “3.6” or “5.3” hereunder,
not to initiate any contact or communication directly with either of the other
Party or any of its respective subsidiaries, as the case may be, together with
each of the other Party’s respective directors, officers, representatives,
agents or employees, without the prior written consent of the other Party
hereto and, notwithstanding the generality of the foregoing, further
acknowledges and agrees, even with the prior written consent of the other Party
to such contact or communication, to limit such contact or communication to
discussions outside the scope of any confidential information (as hereinafter
determined).  For the purposes of the foregoing the Parties hereby recognize
and agree that a breach a Party of any of the covenants herein contained would
result in irreparable harm and significant damage to the other Party that would
not be adequately compensated for by monetary award.  Accordingly, each of the
Parties agrees that, in the event of any such breach, in addition to being
entitled as a matter of right to apply to a Court of competent equitable
jurisdiction for relief by way of restraining order, injunction, decree or
otherwise as may be appropriate to ensure compliance with the provisions hereof,
a Party will also be liable to the other Party hereto, as liquidated damages,
for an amount equal to the amount received and earned by that Party as a result
of and with respect to any such breach.  The Parties hereby acknowledge and
agree that if any of the aforesaid restrictions, activities, obligations or
periods are considered by a Court of competent jurisdiction as being
unreasonable, the Parties agree that said Court shall have authority to limit
such restrictions, activities or periods as the Court deems proper in the
circumstances.   In addition, the Parties further acknowledge and agree that
all restrictions or obligations in this Agreement are necessary and fundamental
to the protection of their respective business interests and are reasonable and
valid, and all defenses to the strict enforcement thereof by the Parties are
hereby waived.

6.2                   Confidentiality.  
Each Party will not, except as authorized or required by its respective duties
and obligations hereunder, reveal or divulge to any person, company or entity
any information concerning the respective organization, business, finances,
transactions or other affairs of the other Party hereto, or of any of the other
Party’s respective subsidiaries, which may come to the Party’s knowledge during
the continuance of this Agreement, and each Party will keep in complete secrecy
all confidential information entrusted to the Party and will not use or attempt
to use any such information in any manner which may injure or cause loss either
directly or indirectly to the other Party’s respective business interests.  
This restriction will continue to apply after the termination of this Agreement
without limit in point of time but will cease to apply to information or
knowledge which may come into the public domain.

6.3                 Compliance
with applicable laws.   Each Party will comply with all U.S., Canadian
and foreign laws, whether federal, provincial or state, applicable to its
respective duties and obligations hereunder and, in addition, hereby represents
and warrants that any information which the Party may provide to any person or
company hereunder will, to the best of the Party’s knowledge, information and
belief, be accurate and complete in all material respects and not misleading,
and will not omit to state any fact or information which would be material to
such person or company.

- 10 -

Article 7

INDEMNIFICATION AND LEGAL PROCEEDINGS

7.1                   Indemnification.  
The Parties hereto hereby each agree to indemnify and save harmless the other
Party hereto and including, where applicable, their respective subsidiaries and
affiliates and each of their respective directors, officers, Executives and
agents (each such party being an “Indemnified Party”) harmless from and
against any and all losses, claims, actions, suits, proceedings, damages,
liabilities or expenses of whatever nature or kind and including, without
limitation, any investigation expenses incurred by any Indemnified Party, to
which an Indemnified Party may become subject by reason of the terms and
conditions of this Agreement.

7.2                   No indemnification.  
This indemnity will not apply in respect of an Indemnified Party in the event
and to the extent that a Court of competent jurisdiction in a final judgment
shall determine that the Indemnified Party was grossly negligent or guilty of
willful misconduct.

7.3                   Claim of indemnification.  
The Parties hereto agree to waive any right they might have of first requiring
the Indemnified Party to proceed against or enforce any other right, power,
remedy, security or claim payment from any other person before claiming this
indemnity.

7.4                   Notice of claim.  
In case any action is brought against an Indemnified Party in respect of which
indemnity may be sought against either of the Parties hereto, the Indemnified
Party will give both Parties hereto prompt written notice of any such action of
which the Indemnified Party has knowledge and the relevant Party will undertake
the investigation and defense thereof on behalf of the Indemnified Party,
including the prompt employment of counsel acceptable to the Indemnified Party
affected and the relevant Party and the payment of all expenses.  Failure by
the Indemnified Party to so notify shall not relieve the relevant Party of such
relevant Party’s obligation of indemnification hereunder unless (and only to
the extent that) such failure results in a forfeiture by the relevant Party of
substantive rights or defenses.

7.5                   Settlement.   No
admission of liability and no settlement of any action shall be made without
the consent of each of the Parties hereto and the consent of the Indemnified
Party affected, such consent not to be unreasonable withheld.

7.6                   Legal proceedings.  
Notwithstanding that the relevant Party will undertake the investigation and
defense of any action, an Indemnified Party will have the right to employ
separate counsel in any such action and participate in the defense thereof, but
the fees and expenses of such counsel will be at the expense of the Indemnified
Party unless:

	 	(a)	such
counsel has been authorized by the relevant Party;

	 	(b)	the
relevant Party has not assumed the defense of the action within a reasonable
period of time after receiving notice of the action;

	 	(c)	the named
parties to any such action include that any Party hereto and the Indemnified
Party shall have been advised by counsel that there may be a conflict of
interest between any Party hereto and the Indemnified Party; or

	 	(d)	there are
one or more legal defenses available to the Indemnified Party which are
different from or in addition to those available to any Party hereto.

7.7                   Contribution.   If
for any reason other than the gross negligence or bad faith of the Indemnified
Party being the primary cause of the loss claim, damage, liability, cost or

- 11 -

expense, the foregoing indemnification is unavailable to the Indemnified Party
  or insufficient to hold them harmless, the relevant Party shall contribute to
  the amount paid or payable by the Indemnified Party as a result of any and all
  such losses, claim, damages or liabilities in such proportion as is appropriate
  to reflect not only the relative benefits received by the relevant Party on the
  one hand and the Indemnified Party on the other, but also the relative fault of
  relevant Party and the Indemnified Party and other equitable considerations
  which may be relevant.  Notwithstanding the foregoing, the relevant Party shall
  in any event contribute to the amount paid or payable by the Indemnified Party,
  as a result of the loss, claim, damage, liability, cost or expense (other than
  a loss, claim, damage, liability, cost or expenses, the primary cause of which
  is the gross negligence or bad faith of the Indemnified Party), any excess of
  such amount over the amount of the fees actually received by the Indemnified
  Party hereunder.

Article 8

FORCE MAJEURE

8.1                   Events.   If
either Party hereto is at any time either during this Agreement or thereafter
prevented or delayed in complying with any provisions of this Agreement by
reason of strikes, walk-outs, labour shortages, power shortages, fires, wars,
acts of God, earthquakes, storms, floods, explosions, accidents, protests or
demonstrations by environmental lobbyists or native rights groups, delays in
transportation, breakdown of machinery, inability to obtain necessary materials
in the open market, unavailability of equipment, governmental regulations
restricting normal operations, shipping delays or any other reason or reasons
beyond the control of that Party, then the time limited for the performance by
that Party of its respective obligations hereunder shall be extended by a
period of time equal in length to the period of each such prevention or delay.

8.2                   Notice.   A Party
shall within three calendar days give notice to the other Party of each event
of force majeure under section “8.1” hereinabove, and upon cessation of
such event shall furnish the other Party with notice of that event together
with particulars of the number of days by which the obligations of that Party
hereunder have been extended by virtue of such event of force majeure
and all preceding events of force majeure.

Article 9

ARBITRATION

9.1                   Matters for arbitration.  
Except for matters of indemnity or in the case of urgency to prevent material
harm to a substantive right or asset, the Parties agree that all questions or
matters in dispute with respect to this Agreement shall be submitted to
arbitration pursuant to the terms hereof.  This provision shall not prejudice a
Party from seeking a Court order or assistance to garnish or secure sums or to
seek summary remedy for such matters as counsel may consider amenable to
summary proceedings.

9.2                   Notice.   It shall
be a condition precedent to the right of any Party to submit any matter to
arbitration pursuant to the provisions hereof that any Party intending to refer
any matter to arbitration shall have given not less than five business days’
prior written notice of its intention to do so to the other Parties together
with particulars of the matter in dispute.  On the expiration of such five
business days the Party who gave such notice may proceed to refer the dispute
to arbitration as provided for in section “9.3” hereinbelow.

9.3                   Appointments.  
The Party desiring arbitration shall appoint one arbitrator, and shall notify
the other Parties of such appointment, and the other Parties shall, within five
business days after receiving such notice, appoint an arbitrator, and the two
arbitrators so named,

- 12 -

 before proceeding to act, shall, within five business
  days of the appointment of the last appointed arbitrator, unanimously agree on
  the appointment of a third arbitrator, to act with them and be chairperson of
  the arbitration herein provided for.  If the other Parties shall fail to
  appoint an arbitrator within five business days after receiving notice of the
  appointment of the first arbitrator, and if the two arbitrators appointed by
  the Parties shall be unable to agree on the appointment of the chairperson, the
  chairperson shall be appointed in accordance with the Arbitration Rules. 
  Except as specifically otherwise provided in this section, the arbitration
  herein provided for shall be conducted in accordance with such Arbitration
  Rules.  The chairperson, or in the case where only one arbitrator is appointed,
  the single arbitrator, shall fix a time and place for the purpose of hearing
  the evidence and representations of the Parties, and the chairperson shall
  preside over the arbitration and determine all questions of procedure not
  provided for by the Arbitration Rules or this section.  After hearing any
  evidence and representations that the Parties may submit, the single
  arbitrator, or the arbitrators, as the case may be, shall make an award and
  reduce the same to writing, and deliver one copy thereof to each of the
  Parties.  The expense of the arbitration shall be paid as specified in the
  award.

9.4                   Award.   The
Parties agree that the award of a majority of the arbitrators, or in the case
of a single arbitrator, of such arbitrator, shall be final and binding upon
each of them.

- 13 -

Article 10

GENERAL PROVISIONS

10.1                 Entire agreement.  
This Agreement constitutes the entire agreement to date between the Parties
hereto and supersedes every previous agreement, expectation, negotiation,
representation or understanding, whether oral or written, express or implied,
statutory or otherwise, between the Parties with respect to the subject matter
of this Agreement.

10.2                 No assignment.  
This Agreement may not be assigned by any Party hereto except with the prior
written consent of the other Parties.

10.3                 Notice.   Each
notice, demand or other communication required or permitted to be given under
this Agreement shall be in writing and shall be sent by prepaid registered mail
deposited in a recognized post office and addressed to the Party entitled to
receive the same, or delivered to such Party, at the address for such Party
specified on the front page of this Agreement.  The date of receipt of such
notice, demand or other communication shall be the date of delivery thereof if
delivered, or, if given by registered mail as aforesaid, shall be deemed
conclusively to be the third business day after the same shall have been so
mailed, except in the case of interruption of postal services for any reason
whatsoever, in which case the date of receipt shall be the date on which the
notice, demand or other communication is actually received by the addressee. 
Any Party may at any time and from time to time notify the other Parties in
writing of a change of address and the new address to which notice shall be
given to it thereafter until further change.

10.4                 Time of the essence.  
Time will be of the essence of this Agreement.

10.5                 Enurement.   This
Agreement will enure to the benefit of and will be binding upon the Parties
hereto and their respective heirs, executors, administrators and assigns.

10.6                 Currency.   Unless
otherwise stipulated, all payments required to be made pursuant to the
provisions of this Agreement and all money amount references contained herein
are in lawful currency of the United States.

10.7                 Further assurances.  
The Parties will from time to time after the execution of this Agreement make,
do, execute or cause or permit to be made, done or executed, all such further
and other acts, deeds, things, devices and assurances in law whatsoever as may
be required to carry out the true intention and to give full force and effect
to this Agreement.

10.8                 Applicable law.  
The situs of this Agreement is the City of Denver, Colorado, and for all
purposes this Agreement will be governed exclusively by and construed and
enforced in accordance with the laws and Courts prevailing in the City of
Denver, Colorado.

10.9                 Severability and
construction.   Each Article, section, paragraph, term and provision of
this Agreement, and any portion thereof, shall be considered severable, and if,
for any reason, any portion of this Agreement is determined to be invalid,
contrary to or in conflict with any applicable present or future law, rule or
regulation in a final unappealable ruling issued by any court, agency or
tribunal with valid jurisdiction in a proceeding to which any Party hereto is a
party, that ruling shall not impair the operation of, or have any other effect
upon, such other portions of this Agreement as may remain otherwise
intelligible (all of which shall remain binding on the Parties and continue to be
given full force and effect as of the date upon which the ruling becomes
final).

- 14 -

10.10               Captions.   The
captions, section numbers and Article numbers appearing in this Agreement are
inserted for convenience of reference only and shall in no way define, limit,
construe or describe the scope or intent of this Agreement nor in any way
affect this Agreement.

10.11               Counterparts.   This
Agreement may be signed by the Parties hereto in as many counterparts as may be
necessary, and via facsimile if necessary, each of which so signed being deemed
to be an original and such counterparts together constituting one and the same
instrument and, notwithstanding the date of execution, being deemed to bear the
Effective Date as set forth on the front page of this Agreement.

10.12               No partnership or agency.  
The Parties have not created a partnership and nothing contained in this
Agreement shall in any manner whatsoever constitute any Party the partner,
agent or legal representative of the other Parties, nor create any fiduciary
relationship between them for any purpose whatsoever.

10.13               Consents and waivers.  
No consent or waiver expressed or implied by either Party in respect of any
breach or default by the other in the performance by such other of its
obligations hereunder shall:

	 	(a)	 be
valid unless it is in writing and stated to be a consent or waiver pursuant to
this section;

	 	 (b)	be
relied upon as a consent to or waiver of any other breach or default of the
same or any other obligation;

	 	(c)	constitute
a general waiver under this Agreement; or

	 	(d)	eliminate
or modify the need for a specific consent or waiver pursuant to this section in
any other or subsequent instance.

                        IN WITNESS WHEREOF the Parties hereto have hereunto set their respective
hands and seals as at the Effective Date as hereinabove determined.

	The COMMON SEAL of 	)	 
	THE PULSE BEVERAGE CORPORATION, 	)	 
	the Company herein, was hereunto affixed 	)	 
	in the presence of:	)	(C/S)
	 	)	 
	 	)	 
	 	)	 
	Authorized Signatory	)	 
	 	)	 
	SIGNED, SEALED and DELIVERED by   	)	 
	ROBERT YATES,  	)	 
	the Executive herein, in the presence of:  	)	 
	 	)	 
	 	)	 
	 	)	 
	Witness Signature 	)	________________________________
	 	)	ROBERT YATES
	 	)	 
	Witness Address	)	 
	 	)	 
	 	)	 
	Witness Name and
Occupation  	)	 

________Filed by Avantafile.com - The Pulse Beverage Corporation - Exhibit 10-3

 

     

 CONSULTANT
SERVICES AGREEMENT

Between:

THE PULSE
BEVERAGE CORPORATION

And:

CATALYST
DEVELOPMENT INC.

The Pulse
Beverage Corporation

__________

 CONSULTANT
SERVICES AGREEMENT

                        THIS CONSULTANT SERVICES
AGREEMENT
is made and dated for reference as fully executed on this 13th day of March,
2011 with effect as of March 15, 2011.

AMONG EACH OF:

	 	
THE PULSE
BEVERAGE CORPORATION, a company
incorporated under the laws of the State of Nevada, U.S.A., and having an
office and an address for notice and delivery located at 12580 Mariposa Street,
Westminster, CO, USA 80234.

	 	(the “Company”);

OF THE FIRST PART

AND:

	 	
CATALYST DEVELOPMENT INC., a company incorporated under the laws of the
province of British Columbia, Canada having an address for notice and delivery
located at #503-9222 University Crescent, Burnaby, BC, Canada V5A OA6

	 	(the “Consultant”);

OF THE THIRD PART

	 	(the Company and
the Consultant being hereinafter singularly also referred to as a “Party”
and collectively referred to as the “Parties” as the context so
requires).

	 	
WHEREAS:

A.                    The
Company is a reporting company incorporated under the laws of the State of
Nevada, U.S.A., and has its common shares listed for trading on the OTCBB under
the symbol PLSB;

B.                    The Company owns certain tangible
assets and intangible assets being formulations, rights, trademarks and patents
of a nutraceutical (or functional) water-based beverage called Pulse® and will
use such assets in the manufacture and distribution of the Pulse® branded
products (collectively, the “Business”);

C.                    In conjunction with the recent
completion by the Company of its acquisition of The Pulse Beverage Corporation,
a Colorado Corporation; the resulting Company is now involved in the principal
Business of The Pulse Beverage Corporation and, as a consequence thereof, the
Company is hereby desirous of appointing the Consultant as the Chief of Product
Development of the Company, and the Consultant is hereby desirous of accepting
such positions, in order to provide such related services to the Company
(collectively, the “General Services”);

D.                    Since the introduction of the
Parties hereto the Parties hereby acknowledge and agree that there have been
various discussions, negotiations, understandings and agreements 

- 2 -

between them
  relating to the terms and conditions of the General Services and,
  correspondingly, that it is their intention by the terms and conditions of this
  agreement (the “Agreement”) to hereby replace, in their entirety, all
  such prior discussions, negotiations, understandings and agreements with
  respect to the General Services; and

E.                     The Parties hereto have agreed
to enter into this Agreement which replaces, in its entirety, all such prior
discussions, negotiations, understandings and agreements, and, furthermore,
which necessarily clarifies their respective duties and obligations with
respect to the within General Services to be provided hereunder, all in
accordance with the terms and conditions of this Agreement; it is agreed by the
parties that the letter of understanding between the Company and Consultant
dated December 29th, 2010 and attached as Exhibit A remains in
effect and is not replaced or rescinded by this consulting services agreement. 

                        NOW THEREFORE THIS
AGREEMENT WITNESSETH that, in consideration of the mutual covenants and
provisos herein contained, THE PARTIES HERETO AGREE AS FOLLOWS:

Article 1

DEFINITIONS AND INTERPRETATION

1.1                   Definitions.   For
all purposes of this Agreement, except as otherwise expressly provided or
unless the context otherwise requires, the following words and phrases shall
have the following meanings:

	 	(a)	“Agreement”
means this Consultant Services Agreement as from time to time supplemented or
amended by one or more agreements entered into pursuant to the applicable
provisions hereof, together with any Schedules attached hereto;

	 	(b)	“Arbitration
Rules” means the Rules of the American Arbitration Association, as amended from time to time, as set forth in
Article “9” hereinbelow;

	 	(c)	“Board
of Directors” means the Board of Directors of the Company as duly
constituted from time to time;

	 	(d)	“Business”
has the meaning ascribed to it in recital “C.” hereinabove.

	 	(e)	“business
day” means any day during which Chartered Banks are open for business in
the City of Westminster, Colorado, USA;

	 	(f)	“Company”
means The Pulse Beverage Corporation, a company incorporated under the laws of
the State of Nevada, U.S.A., or any successor company, however formed, whether
as a result of merger, amalgamation or other action;

	 	(g)	“Company”
means, collectively, the Company and The Pulse Beverage Corporation, or any
successor Company, however formed, whether as a result of merger, amalgamation
or other action;

	 	(h)	“Company’s
Non-Renewal Notice” has the meaning ascribed to in section “3.2”
hereinbelow;

	 	(i)	“Effective
Date” has the meaning ascribed to in section “3.1” hereinbelow;

- 3 -

	 	(j)	“Effective
Termination Date” has the meaning ascribed to it in each of sections “3.3”,
“3.4”, “3.5”, “3.6” and “5.3” hereinbelow;

	 	(k)	“Consultant”
means Catalyst Development Inc. and its President Ronald Kendrick;

	 	(l)	“Expenses”
has the meaning ascribed to it in section “4.5” hereinbelow;

	 	(m)	“Fee”
has the meaning ascribed to it in section “4.1” hereinbelow;

	 	(n)	“Initial
Term” has the meaning ascribed to it in section “3.1” hereinbelow;

	 	(o)	“General
Services” has the meaning ascribed to it in section “2.1” hereinbelow;

	 	(p)	“Indemnified
Party” has the meaning ascribed to it in section “7.1” hereinbelow;

	 	(q)	“Notice
of Termination Date” has the meaning ascribed to it in each of sections
“3.3”, “3.4”, “3.5” and “5.3” hereinbelow;

	 	(r)	“OTC”
means the Pink OTC Markets;

	 	(s)	“Parties”
or “Party” means, individually and collectively, the Company, and/or the
Consultant hereto, as the context so requires, together with each of their
respective successors and permitted assigns as the context so requires;

	 	(t)	“Property”
has the meaning ascribed to it in section “5.4” hereinbelow;

	 	(u)	“subsidiary”
means
any company or Company of which more than 50% of the outstanding shares
carrying votes at all times (provided that the ownership of such shares confers
the right at all times to elect at least a majority of the directors of such
company or Company) are for the time being owned by or held for that company
and/or any other company in like relation to that company and includes any
company in like relation to the subsidiary; and

1.2                   Interpretation.  
For the purposes of this Agreement, except as otherwise expressly provided
or unless the context otherwise requires:

	 	(a)	the words “herein”,
“hereof” and “hereunder” and other words of similar import refer
to this Agreement as a whole and not to any particular Article, section or
other subdivision of this Agreement;

	 	(b)	any
reference to an entity shall include and shall be deemed to be a reference to
any entity that is a permitted successor to such entity; and

	 	(c)	words in
the singular include the plural and words in the masculine gender include the
feminine and neuter genders, and vice versa.

Article 2

GENERAL SERVICES AND DUTIES OF THE CONSULTANT

2.1                   General
Services.   

- 4 -

It is agreed that the Company and Consultant are
independent contractors and that the relationship between the two parties shall
not constitute a partnership, joint venture or agency. Neither Party shall have
the authority to make any commitments of any kind or take any action that is
binding on the other without the express written consent of the other Party or
expressly agreed to in this Consulting Services Agreement. It is understood by
the Company that the Consultant is currently and is free to continue to perform
consulting services for other businesses or persons, including a beverage
company not at arms length from Consultant – GnuSanté Creations Inc. Further it
is understood by the Company that Consultant is in the process of establishing
a food and beverage production facility where manufacture of foods and
beverages will occur, including but not limited to, products of GnuSanté
Creations Inc. During the Initial Term and during the continuance of this
Agreement the Company hereby
agrees to retain the Consultant as the Chief of Product Development and each of
the Company, and the Consultant hereby
agrees to be subject to the direction and supervision of, and to have the
authority as is delegated to the Consultant by, the Board of Directors
consistent with such positions, and the Consultant also agrees to accept such
positions in order to provide such related services as the Board of Directors shall,
from time to time, reasonably assign to the Consultant and as may be necessary
for the ongoing maintenance and development of the Company’ various Business
interests during the Initial Term and during the continuance of this Agreement
(collectively, the “General Services”); it being expressly acknowledged
and agreed by the Parties hereto that the Consultant shall initially commit and
provide to the Company the General Services on a reasonably full-time basis
(meaning approximately two thirds to three quarters of the working hours in a
week or month)  during the Initial Term and during the continuance of this
Agreement for which the Company, as more particularly set forth hereinbelow,
hereby agrees to pay and provide to the order and direction of the Consultant
each of the proposed compensation amounts as set forth in Articles “4”
hereinbelow.

                        In this regard it is hereby
acknowledged and agreed that the Consultant shall be entitled to communicate
with and shall rely upon the immediate advice, direction and instructions of
the Chairman of the Board of Directors of the Company, or upon the advice or
instructions of such other director or officer of the Company as the Chairman
of the Board of Directors of the Company shall, from time to time, designate in
times of the Chairman’s absence, in order to initiate, coordinate and implement
the General Services as contemplated herein subject, at all times, to the final
direction and supervision of the Board of Directors.

2.2                   Additional duties
respecting the General Services.   Without in any manner limiting the
generality of the General Services to be provided as set forth in section “2.1”
hereinabove, it is hereby also acknowledged and agreed that Consultant will,
during the Initial Term and during the continuance of this Agreement, devote
the Consultant’s reserved (as identified in Section 2.1) consulting time to the
General Services of the Consultant as may be determined and required by the
Board of Directors for the performance of said General Services faithfully,
diligently, to the best of the Consultant’s abilities and in the best interests
of the Company. Furthermore that the Company will receive no less priority for
Consultants time than any other of its clients or Consultants own business
interests.

2.3                   Adherence to rules and
policies of the Company.   The Consultant hereby acknowledges and
agrees to abide by the reasonable rules, regulations, instructions, personnel
practices and policies of the Company and any changes therein which may be
adopted from time to time by the same as such rules, regulations, instructions,
personnel practices and policies may be reasonably applied to the Consultant as the Chief of Product
Development
of the Company.

2.4                   Taxes.  With the
exception of costs and expenses incurred on behalf of Company, Consultant shall
be responsible for and pay all costs of conducting his business, including but
not limited to, the expense and responsibility for any applicable civic,
provincial or federal business licenses, permits, taxes or assessments.
Consultant shall be responsible for payment of his

- 5 -

 Canadian business taxes
  including but not limited to income taxes and workers compensation premiums.
  Consultant shall indemnify the Company and hold it harmless from paying such
  business costs or taxes. 

2.5                   Liability. All services
completed by Consultant shall be performed in a professional workman like
manner with the best interests of the Company in mind. The recommendations and
conclusions drawn by Consultant will be based upon his available knowledge,
experience and information. The Company expressly releases Consultant from all
liability for direct and indirect damages, which may be asserted against it as
a result of this contract with the exception of Confidentiality obligations. 

2.6                   Visas.  It
is Consultant’s obligation to comply with all applicable laws in connection
with services performed under this agreement. Consultant warrants and
represents that he has or will endeavor to obtain the appropriate visas.
Company will provide its reasonable efforts in assistance.

Article 3|

INITIAL TERM,
RENEWAL AND TERMINATION

3.1                   Effectiveness
and Initial Term of the Agreement.   The initial term of this Agreement
(the “Initial Term”) is for a period commencing on March 15, 2011 (the “Effective
Date”) and ending on December 31, 2011.

3.2                   Renewal
by the Company after the Initial Term.   Subject at all times to
sections “3.3”, “3.4”, “3.5” and “5.3” hereinbelow, this Agreement shall renew
automatically if not specifically terminated in accordance with the following
provisions.  The Company, on behalf of the Company, agrees to notify the
Consultant in writing at least 90 calendar days prior to the end of the Initial
Term of its intent not to renew this Agreement (the “Company’s Non-Renewal
Notice”).  Should the Company fail to provide a Company’s Non-Renewal
Notice this Agreement shall automatically renew on a three-month to three-month
term renewal basis after the Initial Term until otherwise specifically renewed
in writing by each of the Parties hereto for the next three-month term of
renewal or, otherwise, terminated upon delivery by the Company of a
corresponding and follow-up 90 calendar day Company’s Non-Renewal Notice in
connection with and within 90 calendar days prior to the end of any such three-month
term renewal period.  Any such renewal on a three-month basis shall be on the
same terms and conditions contained herein unless modified and agreed to in
writing by the Parties in advance.

3.3                   Termination
without cause by the Consultant.   Notwithstanding any other provision
of this Agreement, this Agreement may be terminated by the Consultant at any
time after the Effective Date and during the Initial Term and during the
continuance of this Agreement upon the Consultant’s delivery to the Company of
prior written notice of its intention to do so (the “Notice of Termination”
herein) at least 30 calendar days prior to the effective date of any such
termination (the end of such 30-day period from such Notice of Termination
being the “Effective Termination Date” herein).  In any such event the
Consultant’s ongoing obligation to provide the General Services will continue
only until the Effective Termination Date and the Company’s ongoing obligation
to provide and to pay to the Consultant all of the amounts otherwise payable to
the Consultant under Article “4” hereinbelow will continue only until the
Effective Termination Date.

3.4                   Termination
without cause by the Company.   Notwithstanding any other provision of
this Agreement, this Agreement may be terminated by the Company at any time
after the Effective Date and during the Initial Term and during the continuance
of this Agreement upon the Company’s delivery to the Consultant of prior
written notice of its intention 

- 6 -

to do so (the “Notice of Termination”
  herein) at least 90 calendar days prior to the effective date of any such
  termination (the end of such 90-day period from such Notice of Termination
  being the “Effective Termination Date” herein).  In any such event the
  Consultant’s ongoing obligation to provide the General Services will
  immediately cease upon the date of the Notice of Termination, however, the
  Company shall continue to be obligated to provide and to pay to the Consultant
  all of the amounts otherwise payable to the Consultant under Article “4”
  hereinbelow until the end of the entire Initial Term under this Agreement; such
  ongoing compensation representing the Consultant’s clear and unequivocal
  severance for the early termination by the Company without cause of this
  Agreement prior to the completion of the Initial Term. 

3.5                   Termination
for cause by any Party.   Notwithstanding any other provision of this
Agreement, this Agreement may be terminated by any Party hereto at any time
upon written notice to the other Party of such Party’s intention to do so (the
“Notice of Termination” herein) at least 30 calendar days prior to the
effective date of any such termination (the end of such 30-day period from such
Notice of Termination being the “Effective Termination Date” herein),
and damages sought, if:

	 	(a)	the
other Party fails to cure a material breach of any provision of this Agreement
within 21 calendar days from its receipt of written notice from said Party
(unless such material breach cannot be reasonably cured within said 21 calendar
days and the other Party is actively pursuing to cure said material breach);

	 	(b) 	the other Party is willfully
non-compliant in the performance of its respective duties under this Agreement
within 21 calendar days from its receipt of written notice from said Party
(unless such willful non-compliance cannot be reasonably corrected within said
21 calendar days and the other Party is actively pursuing to cure said willful
non-compliance);

	 	(c)	the other
Party commits fraud or serious neglect or misconduct in the discharge of its
respective duties hereunder or under the law; or

	 	(d)	the
other Party becomes adjudged bankrupt or a petition for reorganization or
arrangement under any law relating to bankruptcy, and where any such
involuntary petition is not dismissed within 21 calendar days.

            In
any such event the Consultant’s ongoing obligation to provide the General
Services will continue only until the Effective Termination Date and the
Company shall continue to pay to the Consultant all of the amounts otherwise
payable to the Consultant under Article “4” hereinbelow until the Effective
Termination Date.

3.6                   Disability or death and
Advance.    Notwithstanding
any other provision of this Agreement, this Agreement may be terminated at any
time by any Party within 21 calendar days
after the death or disability of the Consultant, as a without fault termination
(the resulting
effective date of any such termination being herein also the “Effective
Termination Date”).  For the purposes
of this Agreement the term “disability” shall mean the Consultant shall
have been unable to provide the General Services contemplated under this
Agreement for a period of 90 calendar days, whether or not consecutive, during
any 360 calendar day period, due to a physical or mental disability.   A
determination of disability shall be made by a physician satisfactory to both
the Consultant and the Company; provided that if the Consultant and the Company
do not agree on a physician, the Consultant and the Company shall each select a
physician and these two together shall select a third physician whose
determination as to disability shall be binding on all Parties.  In the event
that the Consultant’s employment is terminated by death or because of
disability pursuant to this Agreement, the Company shall pay to the estate of
the Consultant or to the Consultant,

- 7 -

 as the case may be, all amounts to which
  the Consultant would otherwise be entitled under Article “4” hereinbelow until
  the Effective Termination Date.

3.7                   Effect
of Termination.   Terms of this Agreement relating to accounting,
payments, confidentiality, accountability for damages or claims and all other
matters reasonably extending beyond the terms of this Agreement and to the
benefit of the Parties hereto or for the protection of the Business interests
of the Company or of the Business Interests of the Consultant shall survive the
termination of this Agreement, and any matter of interpretation thereto shall
be given a wide latitude in this regard.  In addition, and without limiting the
foregoing, each of sections “3.3”, “3.4”, “3.5”, “3.6” hereinabove and “5.3”
hereinabove shall survive the termination of this Agreement.

Article 4

COMPENSATION OF THE CONSULTANT

4.1                   Fee.  
It is hereby acknowledged and agreed that the Consultant shall render the
General Services as defined hereinabove during the Initial Term and during the
continuance of this Agreement and shall thus be compensated from the Effective
Date of this Agreement to the termination of the same by way of the payment by
the Company to the Consultant, or to the further order or direction of the
Consultant as the Consultant may determine, in the Consultant’s sole and
absolute discretion, and advise the Company of prior to such payment, of the
gross monthly fees of $5,000 (collectively, the “Fee”). All such Fees
will be due and payable by the Company to the Consultant, or to the further
order or direction of the Consultant as the Consultant may determine, in the
Consultant’s sole and absolute discretion, and advise the Company of prior to
any such Fee payment, monthly of the then monthly period of service during the
continuance of this Agreement.

4.2                   Payment of Fee and status
as a non-taxable consultant.   It is hereby also acknowledged and
agreed that the Consultant will be classified as a non-taxable consultant of
the Company for all purposes, such that all compensation which is provided by
the Company to the Consultant under this Agreement, or otherwise, will be
calculated on the foregoing and gross Fee basis and otherwise for which no
statutory taxes will first be deducted by the Company.

4.3                   Reimbursement
of Expenses.   It is hereby acknowledged and agreed that the Consultant
shall also be reimbursed for all pre-approved, direct and reasonable expenses
actually and properly incurred by the Consultant for the benefit of the Company
(collectively, the “Expenses”); it is hereby acknowledged and agreed,
shall be payable by the Company to the order, direction and account of the
Consultant as the Consultant may designate in writing, from time to time, in
the Consultant’s sole and absolute discretion, as soon as conveniently possible
after the prior delivery by the Consultant to the Company of written
substantiation on account of each such reimbursable Expense.

Article 5

ADDITIONAL OBLIGATIONS
OF THE CONSULTANT

5.1                   Reporting.  
At such time or times as may be required by the Board of Directors, acting
reasonably, but not more than once a week, the Consultant will provide the
Board of Directors with such information concerning the results of the
Consultant’s General Services and activities hereunder for the previous month
as the Board of Directors may reasonably require.

5.2                   Opinions,
reports and advice of the Consultant.   The Consultant acknowledges and
agrees that all written and oral opinions, reports, advice and materials
provided by the Consultant to the Company in connection with the Consultant’s
engagement 

- 8 -

hereunder are intended solely for the Company’s benefit and for the
  Company’s uses only, and that any such written and oral opinions, reports,
  advice and information are the exclusive property of the Company.  Unless
  restricted by Confidentiality concerns as noted in section 6.2 In this regard
  the Parties agrees that the Company may utilize any such opinion,
  report, advice and materials for any other purpose whatsoever and, furthermore,
  may reproduce, disseminate, quote from and refer to, in whole or in part, at
  any time and in any manner, any such opinion, report, advice and materials in
  the Company’s sole and absolute discretion.  The Consultant further covenants
  and agrees that no public references to the Consultant or disclosure of the
  Consultant’s role in respect of the Company may be made by the Consultant
  without the prior written consent of the Board of Directors in each specific
  instance and, furthermore, that any such written opinions, reports, advice or
  materials shall, unless otherwise required by the Board of Directors, be
  provided by the Consultant to the Company in a form and with such substance as
  would be acceptable for filing with and approval by any Regulatory Authority
  having jurisdiction over the affairs of the Company from time to time.

5.3                   Consultant’s
business conduct.   The Consultant warrants that the Consultant shall conduct
the business and other activities in a manner which is lawful and reputable and
which brings good repute to the Company, the Company’s business interests and
the Consultant.  In particular, and in this regard, the Consultant specifically
warrants providing the General Services in a sound and professional manner such
that the same meets superior standards of performance quality within the
standards of the industry or as reasonably set by the specifications of the
Company.   In the event that the Board of Directors has a reasonable concern
that the business as conducted by the Consultant is being conducted in a way
contrary to law or is reasonably likely to bring disrepute to the business
interests or to the Company’s or the Consultant’s reputation, the Company may
require that the Consultant make such alterations in the Consultant’s business
conduct or structure, whether of management or Board representation or employee
or sub-licensee representation, as the Board of Directors may reasonably
require, in its sole and absolute discretion, failing which the Company, in its
sole and absolute discretion, may terminate this Agreement upon prior written
notice to the Consultant to do so (the “Notice of Termination” herein)
at least 30 calendar days prior to the effective date of any such termination
(the end of such 30-day period from such Notice of Termination being the “Effective
Termination Date” herein).  In any such event the Consultant’s ongoing
obligation to provide the General Services will continue only until the
Effective Termination Date and the Company shall continue to pay to the
Consultant all of the amounts otherwise payable to the Consultant under Article
“4” hereinabove until the Effective Termination.  In the event of any debate or
dispute as to the reasonableness of the Board of Directors’ request or
requirements, the judgment of the Board of Directors shall be deemed correct
until such time as the matter has been determined by arbitration in accordance
with Article “9” hereinbelow.

5.4                   Right
of ownership to the business and related Property.   Providing the
Company is in compliance with the Letter of Understanding (attached as Exhibit
A) and the Company is current in its payments and considerations to the
Consultant for the services performed, the Consultant hereby acknowledges and
agrees that any and all Company Business interests, together with any products
or improvements derived therefrom and any trade marks or trade names used in
connection with the same (collectively, the “Property”), are wholly
owned and controlled by the Company.  Correspondingly, neither this Agreement,
nor the operation of the business contemplated by this Agreement, confers or
shall be deemed to confer upon the Consultant any interest whatsoever in and to
any of the Property.  In this regard the Consultant hereby further covenants
and agrees not to, during or after the Initial Term and the continuance of this
Agreement, contest the title to any of the Property interests, in any way
dispute or impugn the validity of the Property interests or take any action to
the detriment of the Company’s interests therein.  The Consultant acknowledges
that, by reason of the unique nature of the Property interests, and by reason
of the Consultant’s knowledge of and association with the Property interests
during the Initial Term and during the continuance of this Agreement, the

- 9 -

 aforesaid covenant, both during the Initial Term of this Agreement and
  thereafter, is reasonable and commensurate for the protection of the legitimate
  business interests of the Company.  As a final note, the Consultant hereby
  further covenants and agrees to immediately notify the Company of any
  infringement of or challenge to the any of the Property interests as soon as
  the Consultant becomes aware of the infringement or challenge.

                        In
addition, and for even greater certainty, the Consultant hereby assigns to the
Company the entire right, title and interest throughout the world in and to all
work performed, writings, formulas, designs, models, drawings, photographs,
design inventions, and other inventions, made, conceived, or reduced to
practice or authored by the Consultant or the Consultant’s employees, either
solely or jointly with others, during the performance of this Agreement, or
which are made, conceived, or reduced to practice, or authored with the use of
information or materials of the Company either received or used by the
Consultant during the performance of this Agreement or any extension or renewal
thereof.  The Consultant shall promptly disclose to the Company all works,
writings, formulas, designs, models, photographs, drawings, design inventions
and other inventions made, conceived or reduced to practice, or authored by the
Consultant or the Consultant’s employees as set forth above.  The Consultant
shall sign, execute and acknowledge, or cause to be signed, executed and
acknowledged without cost to Company or its nominees, patent, trademark or
copyright protection throughout the world upon all such works, writings,
formulas, designs, models, drawings, photographs, design inventions and other
inventions; title to which the Company acquires in accordance with the
provisions of this section.  The Consultant has acquired or shall acquire from
each of the Consultant’s employees, if any, the necessary rights to all such
works, writings, formulas, designs, models, drawings, photographs, design
inventions and other inventions made by such employees within the scope of
their employment by the Consultant in performing the General Services under
this Agreement.  The Consultant shall obtain the cooperation of each such
employee to secure to the Company or its nominees the rights to such works,
writings, formulas, designs, models, drawings, photographs, design inventions
and other inventions as the Company may acquire in accordance with the provisions
of this section.  The work performed and the information produced under this
Agreement are works made for hire as defined in 17 U.S.C. § 101.

Article 6

ADDITIONAL
OBLIGATIONS OF THE PARTIES

6.1                   No
conflict, no competition and non-circumvention.  Except for the normal
performance of the Consultant’s consulting business, the business of GnuSanté Creations Inc. and the operation of the
aforementioned food and beverage production facility the following shall apply.
During
the continuance of this Agreement neither Party hereto shall engage in any
business or activity which reasonably may detract from or conflict with that
Party’s respective duties and obligations to other Party as set forth in this
Agreement without the prior written consent of the other Party hereto.  In
addition during the continuance of this Agreement, and for a period of at least
one year following the termination of this Agreement in accordance with either
of sections “3.2”, “3.3”, “3.4”, “3.5”, “3.6” or “5.3” hereunder, no Party shall
engage in any business or activity whatsoever which reasonably may be
determined by the other Party hereto, in its sole and absolute discretion, to
compete with any portion of that Party’s respective business interests as
contemplated hereby without the prior written consent of that Party. 
Furthermore, each of the Parties hereby acknowledges and agrees, for a period
of at least one year following the termination of this Agreement in accordance
with either of sections “3.2”, “3.3”, “3.4”, “3.5”, “3.6” or “5.3” hereunder,
not to initiate any contact or communication directly with either of the other
Party or any of its respective subsidiaries, as the case may be, together with
each of the other Party’s respective directors, officers, representatives, agents
or employees, without the prior written consent of the other Party hereto and,
notwithstanding the 

- 10 -

generality of the foregoing, further acknowledges and
  agrees, even with the prior written consent of the other Party to such contact
  or communication, to limit such contact or communication to discussions outside
  the scope of any confidential information (as hereinafter determined).  For the
  purposes of the foregoing the Parties hereby recognize and agree that a breach
  a Party of any of the covenants herein contained would result in irreparable
  harm and significant damage to the other Party that would not be adequately
  compensated for by monetary award.  Accordingly, each of the Parties agrees
  that, in the event of any such breach, in addition to being entitled as a
  matter of right to apply to a Court of competent equitable jurisdiction for
  relief by way of restraining order, injunction, decree or otherwise as may be
  appropriate to ensure compliance with the provisions hereof, a Party will also
  be liable to the other Party hereto, as liquidated damages, for an amount equal
  to the amount received and earned by that Party as a result of and with respect
  to any such breach.  The Parties hereby acknowledge and agree that if any of
  the aforesaid restrictions, activities, obligations or periods are considered
  by a Court of competent jurisdiction as being unreasonable, the Parties agree
  that said Court shall have authority to limit such restrictions, activities or
  periods as the Court deems proper in the circumstances.   In addition, the
  Parties further acknowledge and agree that all restrictions or obligations in
  this Agreement are necessary and fundamental to the protection of their
  respective business interests and are reasonable and valid, and all defenses to
  the strict enforcement thereof by the Parties are hereby waived.

6.2                   Confidentiality.  
Each Party will not, except as authorized or required by its respective duties
and obligations hereunder, reveal or divulge to any person, company or entity
any information concerning the respective organization, business, finances,
transactions or other affairs of the other Party hereto, or of any of the other
Party’s respective subsidiaries, which may come to the Party’s knowledge during
the continuance of this Agreement, and each Party will keep in complete secrecy
all confidential information entrusted to the Party and will not use or attempt
to use any such information in any manner which may injure or cause loss either
directly or indirectly to the other Party’s respective business interests.  
This restriction will continue to apply after the termination of this Agreement
without limit in point of time but will cease to apply to information or
knowledge which may come into the public domain.

6.3                 Compliance
with applicable laws.   Each Party will comply with all U.S., Canadian
and foreign laws, whether federal, provincial or state, applicable to its
respective duties and obligations hereunder and, in addition, hereby represents
and warrants that any information which the Party may provide to any person or
company hereunder will, to the best of the Party’s knowledge, information and
belief, be accurate and complete in all material respects and not misleading,
and will not omit to state any fact or information which would be material to
such person or company.

Article 7

INDEMNIFICATION AND LEGAL PROCEEDINGS

7.1                   Indemnification.  
The Parties hereto hereby each agree to indemnify and save harmless the other
Party hereto and including, where applicable, their respective subsidiaries and
affiliates and each of their respective directors, officers, Consultants and
agents (each such party being an “Indemnified Party”) harmless from and
against any and all losses, claims, actions, suits, proceedings, damages,
liabilities or expenses of whatever nature or kind and including, without
limitation, any investigation expenses incurred by any Indemnified Party, to
which an Indemnified Party may become subject by reason of the terms and
conditions of this Agreement.

7.2                   No indemnification.  
This indemnity will not apply in respect of an Indemnified Party in the event
and to the extent that a Court of competent jurisdiction in a final judgment
shall determine that the Indemnified Party was grossly negligent or guilty of
willful misconduct.

- 11 -

7.3                   Claim of indemnification.  
The Parties hereto agree to waive any right they might have of first requiring
the Indemnified Party to proceed against or enforce any other right, power,
remedy, and security or claim payment from any other person before claiming
this indemnity.

7.4                   Notice of claim.  
In case any action is brought against an Indemnified Party in respect of which
indemnity may be sought against either of the Parties hereto, the Indemnified
Party will give both Parties hereto prompt written notice of any such action of
which the Indemnified Party has knowledge and the relevant Party will undertake
the investigation and defense thereof on behalf of the Indemnified Party,
including the prompt employment of counsel acceptable to the Indemnified Party
affected and the relevant Party and the payment of all expenses.  Failure by
the Indemnified Party to so notify shall not relieve the relevant Party of such
relevant Party’s obligation of indemnification hereunder unless (and only to
the extent that) such failure results in a forfeiture by the relevant Party of
substantive rights or defenses.

7.5                   Settlement.   No
admission of liability and no settlement of any action shall be made without
the consent of each of the Parties hereto and the consent of the Indemnified
Party affected, such consent not to be unreasonable withheld.

7.6                   Legal proceedings.  
Notwithstanding that the relevant Party will undertake the investigation and
defense of any action, an Indemnified Party will have the right to employ
separate counsel in any such action and participate in the defense thereof, but
the fees and expenses of such counsel will be at the expense of the Indemnified
Party unless:

	 	(a)	such
counsel has been authorized by the relevant Party;

	 	(b)	the relevant
Party has not assumed the defense of the action within a reasonable period of
time after receiving notice of the action;

	 	(c)	the named
parties to any such action include that any Party hereto and the Indemnified
Party shall have been advised by counsel that there may be a conflict of
interest between any Party hereto and the Indemnified Party; or

	 	(d)	there are
one or more legal defenses available to the Indemnified Party which are
different from or in addition to those available to any Party hereto.

7.7                   Contribution.   If
for any reason other than the gross negligence or bad faith of the Indemnified
Party being the primary cause of the loss claim, damage, liability, cost or
expense, the foregoing indemnification is unavailable to the Indemnified Party
or insufficient to hold them harmless, the relevant Party shall contribute to
the amount paid or payable by the Indemnified Party as a result of any and all
such losses, claim, damages or liabilities in such proportion as is appropriate
to reflect not only the relative benefits received by the relevant Party on the
one hand and the Indemnified Party on the other, but also the relative fault of
relevant Party and the Indemnified Party and other equitable considerations
which may be relevant.  Notwithstanding the foregoing, the relevant Party shall
in any event contribute to the amount paid or payable by the Indemnified Party,
as a result of the loss, claim, damage, liability, cost or expense (other than
a loss, claim, damage, liability, cost or expenses, the primary cause of which
is the gross negligence or bad faith of the Indemnified Party), any excess of
such amount over the amount of the fees actually received by the Indemnified
Party hereunder.

- 12 -

Article 8

FORCE MAJEURE

8.1                   Events.   If
either Party hereto is at any time either during this Agreement or thereafter
prevented or delayed in complying with any provisions of this Agreement by
reason of strikes, walk-outs, labour shortages, power shortages, fires, wars,
acts of God, earthquakes, storms, floods, explosions, accidents, protests or
demonstrations by environmental lobbyists or native rights groups, delays in
transportation, breakdown of machinery, inability to obtain necessary materials
in the open market, unavailability of equipment, governmental regulations
restricting normal operations, shipping delays or any other reason or reasons
beyond the control of that Party, then the time limited for the performance by
that Party of its respective obligations hereunder shall be extended by a
period of time equal in length to the period of each such prevention or delay.

8.2                   Notice.   A Party
shall within three calendar days give notice to the other Party of each event
of force majeure under section “8.1” hereinabove, and upon cessation of
such event shall furnish the other Party with notice of that event together
with particulars of the number of days by which the obligations of that Party
hereunder have been extended by virtue of such event of force majeure
and all preceding events of force majeure.

Article 9

ARBITRATION

9.1                   Matters for arbitration.  
Except for matters of indemnity or in the case of urgency to prevent material
harm to a substantive right or asset, the Parties agree that all questions or
matters in dispute with respect to this Agreement shall be submitted to
arbitration pursuant to the terms hereof.  This provision shall not prejudice a
Party from seeking a Court order or assistance to garnish or secure sums or to
seek summary remedy for such matters as counsel may consider amenable to
summary proceedings.

9.2                   Notice.   It shall
be a condition precedent to the right of any Party to submit any matter to
arbitration pursuant to the provisions hereof that any Party intending to refer
any matter to arbitration shall have given not less than five business days’
prior written notice of its intention to do so to the other Parties together
with particulars of the matter in dispute.  On the expiration of such five
business days the Party who gave such notice may proceed to refer the dispute to
arbitration as provided for in section “9.3” hereinbelow.

9.3                   Appointments.  
The Party desiring arbitration shall appoint one arbitrator, and shall notify
the other Parties of such appointment, and the other Parties shall, within five
business days after receiving such notice, appoint an arbitrator, and the two
arbitrators so named, before proceeding to act, shall, within five business
days of the appointment of the last appointed arbitrator, unanimously agree on
the appointment of a third arbitrator, to act with them and be chairperson of
the arbitration herein provided for.  If the other Parties shall fail to
appoint an arbitrator within five business days after receiving notice of the
appointment of the first arbitrator, and if the two arbitrators appointed by
the Parties shall be unable to agree on the appointment of the chairperson, the
chairperson shall be appointed in accordance with the Arbitration Rules. Except
as specifically otherwise provided in this section, the arbitration herein
provided for shall be conducted in accordance with such Arbitration Rules.  The
chairperson, or in the case where only one arbitrator is appointed, the single
arbitrator, shall fix a time and place for the purpose of hearing the evidence
and representations of the Parties, and the chairperson shall preside over the
arbitration and determine all questions of procedure not provided for by the
Arbitration Rules or this section.  After hearing any evidence and
representations that the Parties may submit, the single arbitrator, or the
arbitrators, as the case may be, shall make an

- 13 -

 award and reduce the same to
  writing, and deliver one copy thereof to each of the Parties.  The expense of
  the arbitration shall be paid as specified in the award.

9.4                   Award.   The
Parties agree that the award of a majority of the arbitrators, or in the case
of a single arbitrator, of such arbitrator, shall be final and binding upon
each of them.

Article 10

GENERAL PROVISIONS

10.1                 Entire agreement.  
This Agreement constitutes the entire agreement to date between the Parties
hereto and supersedes every previous agreement, expectation, negotiation,
representation or understanding, whether oral or written, express or implied,
statutory or otherwise, between the Parties with respect to the subject matter
of this Agreement.

10.2                 No assignment.  
This Agreement may not be assigned by any Party hereto except with the prior
written consent of the other Parties.

10.3                 Notice.   Each
notice, demand or other communication required or permitted to be given under
this Agreement shall be in writing and shall be sent by prepaid registered mail
deposited in a recognized post office and addressed to the Party entitled to
receive the same, or delivered to such Party, at the address for such Party
specified on the front page of this Agreement.  The date of receipt of such
notice, demand or other communication shall be the date of delivery thereof if
delivered, or, if given by registered mail as aforesaid, shall be deemed
conclusively to be the third business day after the same shall have been so
mailed, except in the case of interruption of postal services for any reason
whatsoever, in which case the date of receipt shall be the date on which the
notice, demand or other communication is actually received by the addressee. 
Any Party may at any time and from time to time notify the other Parties in
writing of a change of address and the new address to which notice shall be
given to it thereafter until further change.

10.4                 Time of the essence.  
Time will be of the essence of this Agreement.

10.5                 Enurement.   This
Agreement will enure to the benefit of and will be binding upon the Parties
hereto and their respective heirs, executors, administrators and assigns.

10.6                 Currency.   Unless
otherwise stipulated, all payments required to be made pursuant to the
provisions of this Agreement and all money amount references contained herein
are in lawful currency of the United States.

10.7                 Further assurances.  
The Parties will from time to time after the execution of this Agreement make,
do, execute or cause or permit to be made, done or executed, all such further
and other acts, deeds, things, devices and assurances in law whatsoever as may
be required to carry out the true intention and to give full force and effect to
this Agreement.

10.8                 Applicable law.  
The situs of this Agreement is the City of Denver, Colorado, and for all
purposes this Agreement will be governed exclusively by and construed and
enforced in accordance with the laws and Courts prevailing in the City of
Denver, Colorado.

10.9                 Severability and
construction.   Each Article, section, paragraph, term and provision of
this Agreement, and any portion thereof, shall be considered severable, and if,
for any reason, any portion of this Agreement is determined to be invalid,
contrary to or in conflict with any applicable present or future law, rule or
regulation in a final unappealable ruling issued by any court, agency or
tribunal with valid jurisdiction in a proceeding to which any Party hereto is a
party, that ruling shall not impair the operation of, or have any other

- 14 -

 effect
  upon, such other portions of this Agreement as may remain otherwise
  intelligible (all of which shall remain binding on the Parties and continue to
  be given full force and effect as of the date upon which the ruling becomes
  final).

10.10               Captions.   The
captions, section numbers and Article numbers appearing in this Agreement are
inserted for convenience of reference only and shall in no way define, limit,
construe or describe the scope or intent of this Agreement nor in any way
affect this Agreement.

10.11               Counterparts.   This
Agreement may be signed by the Parties hereto in as many counterparts as may be
necessary, and via facsimile if necessary, each of which so signed being deemed
to be an original and such counterparts together constituting one and the same
instrument and, notwithstanding the date of execution, being deemed to bear the
Effective Date as set forth on the front page of this Agreement.

10.12               No partnership or agency.  
The Parties have not created a partnership and nothing contained in this
Agreement shall in any manner whatsoever constitute any Party the partner,
agent or legal representative of the other Parties, nor create any fiduciary
relationship between them for any purpose whatsoever.

10.13               Consents and waivers.  
No consent or waiver expressed or implied by either Party in respect of any
breach or default by the other in the performance by such other of its
obligations hereunder shall:

	 	(a)	be
valid unless it is in writing and stated to be a consent or waiver pursuant to
this section;

	 	(b)	be
relied upon as a consent to or waiver of any other breach or default of the
same or any other obligation;

	 	(c)	constitute
a general waiver under this Agreement; or

	 	(d)	eliminate
or modify the need for a specific consent or waiver pursuant to this section in
any other or subsequent instance.

                        IN WITNESS WHEREOF the Parties hereto have hereunto set their respective
hands and seals as at the Effective Date as hereinabove determined.

	The COMMON SEAL of 	)	 
	THE PULSE BEVERAGE CORPORATION, 	)	 
	the Company herein, was hereunto affixed 	)	 
	in the presence of:	)	(C/S)
	 	)	 
	 	)	 
	 	)	 
	Authorized Signatory	)	 
	 	)	 
	SIGNED, SEALED and DELIVERED by   	)	 
	CATALYST DEVELOPMENT INC.	)	 
	the Consultant herein, in the presence of:   	)	 
	 	)	 
	 	)	 
	 	)	 
	Witness Signature 	)	________________________________
	 	)	CATALYST DEVELOPMENT INC.
	 	)	 
	Witness Address	)	 
	 	)	 
	 	)	 
	Witness Name and
      Occupation  	)	 

__________

- 15 -

 EXHIBIT A

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]