Document:

EXHIBIT 10.15

EXHIBIT 10.15

 

SECURITIES PURCHASE AGREEMENT

 

 

THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”) is made as of the later of the dates set forth on the signature pages hereto, by and among SYSOREX GLOBAL HOLDINGS CORP., a Nevada corporation (the “Company”), and the purchaser whose name and address are set forth on the signature page annexed hereto (the “Purchaser”). The foregoing parties are sometimes referred to hereinafter individually as a “Party” or collectively as the “Parties.”

 

 

RECITALS

 

WHEREAS, pursuant to the Subscription Application of the Purchaser of even date herewith (each a “Subscription Application”), and pursuant to Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 promulgated thereunder, the Company desires to sell to the Purchaser and the Purchaser desires to acquire from the Company that number of shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) as are set forth on the Purchaser’s signature page annexed hereto (the “Shares”), at a price of $2.60 per share, subject to the terms and conditions of this Agreement and the other documents or instruments contemplated hereby; and

 

WHEREAS, the Purchaser(s) and the Company are entering into an escrow agreement (“Escrow Agreement”) concurrently with this Agreement and the Subscription Application pursuant to which the Purchase Price, the Shares, and other deliverables in this Offering shall be deposited with the escrow agent appointed therein (“Escrow Agent”), pending the Closing. 

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties do hereby covenant and agree as follows:

 

 

AGREEMENT

 

Section 1.     Sale and Issuance of Shares.

 

1.1     Subject to the terms and conditions of this Agreement, the Company’s board of directors has authorized the sale and issuance of up to 1,000,000 shares of Common Stock to one or more Purchasers in offering described herein (the “Offering”). At the Closing (as defined below), the Company shall sell and issue the Shares to the Purchaser, and the Purchaser shall purchase the Shares from the Company. If other investors participate in this Offering, such other investors shall execute and deliver an agreement of the same form as this Agreement (except for names, dates, Purchaser information and investment amounts), and are referred to as “Other Purchasers”, and collectively with the Purchaser, referred to as the “Purchasers”. The maximum number of Shares that the Company may sell to all Purchasers in this Offering is 1,000,000, unless a higher amount is authorized by the Company’s board of directors in its sole discretion. The Purchaser’s obligations hereunder are expressly not subject to or conditioned on the purchase of Shares by any or all of such Other Purchasers.

 

 

 

 

 

1.2     The aggregate purchase price for the Shares to be purchased by the Purchaser (the “Purchase Price”) shall be the amount set forth on the Purchaser’s signature page hereto.

 

Section 2.         The Closing.

 

2.1     The closing of the sale and issuance to the Purchaser (the “Closing”) shall occur on the date when the Company receives from the Purchaser (i) this Agreement, Purchaser's Subscription Application, and each other document or instrument contemplated hereby or thereby (collectively, the “Transaction Documents”) executed by Purchaser; (ii) payment of the Purchase Price, which shall be made contemporaneously with the execution and delivery of the Transaction Documents, by wire transfer of immediately available funds, to the Escrow Agent in accordance with the following instructions (and the subsequent release by Escrow Agent of the Purchase Price to the Company): 

 

 

	
ACCOUNT NAME:.
	
RICHARDSON & PATEL LLP

	 	IOLTA LAWYERS TRUST CHECKING
	 	1100 Glendon Avenue, Suite 850
	 	Los Angeles, CA 90024
	  	  
	
BANK NAME:
	
COMERICA BANK OF CALIFORNIA

	 	WESTWOOD OFFICE
	 	1021 Glendon Ave.
	 	LOS ANGELES, CALIFORNIA 90024 
	 	PHONE NUMBER 800-888-3595
	  	  
	
ABA NUMBER:
	
121137522

	  	  
	
SWIFT CODE:
	
MNBDUS33

	  	  
	
ACCT. NUMBER:
	
1894608122

	
BENEFICIARY:
	
RICHARDSON & PATEL LLP

	 	IOLTA LAWYERS TRUST CHECKING
	 	Re: Sysorex Global Holdings Corp.

 

2.2     At the Closing, the Company shall instruct its transfer agent to issue and deliver to the Purchaser a certificate representing the Shares, against receipt by the Company of funds from the Escrow Agent in an aggregate amount equal to the Purchase Price for the number of Shares set forth on the Purchaser’s signature page hereto.

 

Section 3.         Representations and Warranties of the Company.

 

The Company hereby represents and warrants to the Purchaser as follows:

 

 

2

 

 

3.1     Organization. 

 

The Company is duly organized, validly existing and in good standing under the laws of the State of Nevada and is qualified to conduct its business as a foreign corporation in each jurisdiction where the failure to be so qualified would have a material adverse effect on the Company.

 

3.2     Authorization of Agreement, Etc.

 

The execution, delivery, and performance by the Company of its obligations under the Transaction Documents has been duly authorized by all requisite corporate action on the part of the Company; and this Agreement and the Transaction Documents have been duly executed and delivered by the Company. Each of the Transaction Documents, when executed and delivered by the Company, constitutes the valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium, or other similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

3.3     Issuance of Shares.

 

The Shares are duly authorized and, when paid for and issued in accordance with the Transaction Documents, will be duly and validly issued, fully paid, and non-assessable, free and clear of all liens. 

 

Section 4.         Representations and Warranties of the Purchaser.

 

The Purchaser hereby represents and warrants to the Company as follows:

 

4.1     Authorization of the Documents.

 

The Purchaser has all requisite power and authority (corporate or otherwise) to execute, deliver, and perform its obligations under the Transaction Documents, and the execution, delivery, and performance by the Purchaser of its obligations under the Transaction Documents has been duly authorized by all requisite action on the part of the Purchaser and each such Transaction Document, when executed and delivered by the Purchaser, shall constitute the valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

4.2     Investment Representations.

 

All of the representations, warranties, and information of the Purchaser as set forth in the Purchaser’s Subscription Application are incorporated by reference herein, shall be deemed to be a part hereof, and shall be true and correct at the Closing with the same force and effect as if made by the Purchaser as of the date thereof.

 

 

3

 

 

4.3     Access to Company Information.

 

The Company has made available to the Purchaser, or to the Purchaser's attorney, accountant or representative, all documents that the Purchaser has requested, and the Purchaser has requested all documents and other information that the Purchaser has deemed necessary to consider respecting an investment in the Company. The Company has provided answers to all questions concerning the Offering and an investment in the Company. The Purchaser has carefully considered and has, to the extent the Purchaser believes necessary, discussed with the Purchaser's professional technical, legal, tax and financial advisers and his/her/its representative (if any) the suitability of an investment in the Company for the Purchaser's particular tax and financial situation. All information the Purchaser has provided to the Company concerning the Purchaser and the Purchaser's financial position is, to Purchaser’s knowledge, correct and complete as of the date set forth below, and if there should be any material adverse change in such information prior to the acceptance of this Agreement by the Company, the Purchaser will immediately provide such information to the Company. The Purchaser has such knowledge, skill, and experience in technical, business, financial, and investment matters so that he/she/it is capable of evaluating the merits and risks of an investment in the Shares. To the extent necessary, the Purchaser has retained, at his/her/its own expense, and relied upon, appropriate professional advice regarding the technical, investment, tax, and legal merits and consequences of this Agreement and owning the Securities.

 

4.4     Risk Factors.

 

The Purchaser acknowledges that an investment in the Shares is speculative and that there is a substantial risk that the investor may lose the Purchaser’s entire investment in the Shares. The Purchaser has reviewed the “risk factors” provided in Annex A to this Agreement. The Purchaser understands that any plans, estimates and projections, provided by or on behalf of the Company, involve significant elements of subjective judgment and analysis that may or may not be correct; that there can be no assurance that such plans, projections or goals will be attained; and that any such plans, projections and estimates should not be relied upon as a promise or representation of the future performance of the Company. The Purchaser acknowledges that the Company, nor anyone acting on the Company’s behalf makes any representation or warranty, express or implied, as to the accuracy or correctness of any such plans, estimates and projections, and there are no assurances that such plans, estimates and projections will be achieved. The Purchaser understands that the Company’s technology and products are new, and not all of it may be tested and commercialized, and that there is no guarantee that the technology and products will be commercially successful. The Purchaser understands that all the risks associated with the technology are not now known. Before investing in the Offering, the Purchaser has been given the opportunity to ask questions of the Company about the technology and the Company’s business and the Purchaser has received answers to those questions.

 

4.5     Confidential Treatment. 

 

Purchaser acknowledges and agrees that any information or data it has acquired from or about the Company, not otherwise properly in the public domain, was received in confidence. Purchaser agrees not to divulge, communicate or disclose, except as may be required by law or for the performance of this Agreement, or use to the detriment of the Company or for the benefit of any other person or persons, or misuse in any way, any confidential information of the Company, including any scientific, technical, trade or business secrets of the Company and any scientific, technical, trade or business materials that are treated by the Company as confidential or proprietary, including, but not limited to, ideas, discoveries, inventions, developments and improvements belonging to the Company and confidential information obtained by or given to the Company about or belonging to third parties.

 

 

4

 

 

Section 5.         Registration Rights. 

 

The Purchaser shall have piggy-back registration rights with respect to all of the Shares purchased hereunder, however such rights shall exclude registrations involving the following: (i) the initial registration of the Company’s common stock in an initial public offering pursuant to a registration statement filed by the Company on October 9, 2013 as amended, (ii) any registration effected solely to implement an employee benefit plan, (iii) any registration in connection with a transaction to which Rule 145 of the Securities Act is applicable, (iv) any registration statement on Form S-4 or Form S-1 covering company securities issued in connection with the acquisition of a business, or (v) any registration statement on Form S-8 or any successor form thereto. In each and every registration in which the Purchaser has the foregoing piggy-back registration rights, the Company agrees to provide the Purchaser with written notice of such registration not less than thirty (30) days prior to such registration. The Purchaser shall have the option of including up to all of the Shares purchased hereunder (other than Shares that have been previously registered for resale under this Section) in the registration statement on Form S-1 or equivalent form filed with the Commission, in order to register the resale of such shares pursuant and subject to Rule 415 of the Securities Act. The Purchaser agrees to conduct any sales of the Purchaser’s Shares in accordance with the “plan of distribution” set forth in such registration statement. In addition, the Company agrees to use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other state securities or state Blue-Sky laws as shall be reasonably requested by the Purchaser; provided, however, that the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act. The Company acknowledges and agrees that it shall make all filings, disclosures, updates and any other actions which are necessary in order to keep any registration statement which includes any Shares continuously effective under the Securities Act for at least twenty-four (24) months following the effective date of such registration statement. Notwithstanding the foregoing, the Company may suspend the effectiveness of such registration statement for a period not to exceed ninety (90) days after the effective date thereof if the Company’s board of directors reasonably believes that the continued effectiveness thereof would be materially detrimental to the Company because such action would (i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (iii) render the Company unable to comply with requirements under the Securities Act or the Exchange Act, as applicable, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly; provided, however, that the Company shall not register any securities for resale for its own account or that of any other stockholder during such ninety (90) day period. All expenses (other than underwriting discounts and commissions applicable to the Purchaser’s Shares sold under the offering and fees for counsel retained by the Purchaser) incurred in connection with registration pursuant to this Section shall be borne and paid by the Company.

 

 

5

 

 

Section 6.         Brokers and Finders.

 

Unless the Company shall engage a placement agent in connection with the Offering or shall otherwise determine in its sole discretion, the Company shall not be obligated to pay any commission, brokerage fee, or finder’s fee based on any alleged agreement or understanding between the Purchaser and a third person in respect of the transactions contemplated hereby. The Purchaser hereby agrees to indemnify the Company against any claim by any third person for any commission, brokerage fee, finder’s fee, or other payment with respect to this Agreement or the transactions contemplated hereby based on any alleged agreement or understanding between the Purchaser and any such third person, whether express or implied from the actions of the Purchaser or anyone acting or purporting to act on behalf of the Purchaser.

 

Section 7.         Indemnification by the Purchaser. 

 

The Purchaser hereby agrees to indemnify and defend (with counsel acceptable to the Company) the Company and its officers, directors, employees, and agents and hold them harmless from and against any and all liability, loss, damage, cost, or expense, including costs and reasonable attorneys’ fees, incurred on account of or arising from:

 

(a)     any breach of or inaccuracy in any of the Purchaser’s representations, warranties, or agreements made herein, in any of the Transaction Documents, or in any document or instrument contemplated hereby or thereby; and

 

(b)     any action, suit, or proceeding based on a claim that the Purchaser’s representations, warranties or agreements made herein, in any of the Transaction Documents, or in any document or instrument contemplated hereby or thereby, were inaccurate or misleading, or otherwise cause for obtaining damages or redress from the Company or any current or former officer, director, employee, or agent of the Company under the Securities Act.

 

Section 8.         Successors and Assigns.

 

This Agreement shall bind and inure to the benefit of the Company, the Purchaser, and their respective successors and assigns.

 

Section 9.         Entire Agreement.

 

This Agreement and the other writings and agreements referred to in this Agreement or delivered pursuant to this Agreement contain the entire understanding of the Parties with respect to the subject matter hereof and supersede all prior agreements and understandings, whether written or verbal, among the Parties with respect thereto.

 

 

6

 

 

Section 10.       Notices.

 

All notices, demands and requests of any kind to be delivered to any Party in connection with this Agreement shall be in writing and shall be deemed to have been duly given if personally delivered or if sent by internationally-recognized overnight courier or by registered or certified mail, return receipt requested and postage prepaid, addressed as follows:

 

	 	
if to the Company, to:

	 	 
	 	
Sysorex Global Holdings Corp.

	 	
405 Clyde Avenue

	 	
Mountain View, CA 94043

	 	
Attn.: Nadir Ali, Chief Executive Officer

	 	
Fax: (703) 880-7219

	 	
Tel: (650) 967-2200

	 	
ali@sysorex.com 

	 	  
	 	
with a copy (which shall not constitute notice) to: 

	 	  
	 	
Richardson & Patel, LLP

	 	
1100 Glendon Avenue, Suite 850

	 	
Los Angeles, California 90024

	 	
Attn: Nimish Patel, Esq.

	 	
Facsimile: 310-208-1154

	 	
Tel: (310) 208-1182

	 	
npatel@richardsonpatel.com  

	 	  
	 	
if to the Purchaser, to:

	 	 
	 	
at the address of the Purchaser set forth on the Purchaser’s signature page hereto;

 

or to such other address as the Party to whom notice is to be given may have furnished to the other Parties to this Agreement in writing in accordance with the provisions of this Section. Any such notice or communication shall be deemed to have been received (i) in the case of personal delivery, on the date of such delivery, (ii) in the case of internationally-recognized overnight courier, on the next business day after the date when sent and (iii) in the case of mailing, on the third business day following that on which the piece of mail containing such communication is posted.

 

Section 11.       Amendments.

 

This Agreement may not be modified or amended, nor may any provision of this Agreement be waived, except as evidenced by a written agreement duly executed by the Company and holders of at least 51% of the Common Stock purchased by the Purchaser and all Other Purchasers combined (if any), and any such agreement shall be binding on the Purchaser and all other Purchasers. 

 

 

7

 

 

Section 12.       Governing Law; Waiver of Jury Trial.

 

All questions concerning the construction, interpretation, and validity of this Agreement shall be governed by and construed and enforced in accordance with the domestic laws of the State of Nevada without giving effect to any choice or conflict of law provision or rule (whether in the State of Nevada or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Nevada. In furtherance of the foregoing, the internal law of the State of Nevada will control the interpretation and construction of this Agreement, even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily or necessarily apply.

 

Section 13.       Submission to Jurisdiction.

 

Any legal action or proceeding with respect to this Agreement may be brought in the courts of the State of New York and the United States of America located in the Borough of Manhattan, City of New York, and, by execution and delivery of this Agreement, the Company hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. The Purchaser hereby irrevocably waives, in connection with any such action or proceeding, any objection, including, without limitation, any objection to the venue or based on the grounds of forum non conveniens, which it may now or hereafter have to the bringing of any such action or proceeding in such respective jurisdictions. The Purchaser hereby irrevocably consents to the service of process of any of the aforementioned courts in any such action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to it at its address as set forth herein. 

 

Section 14.       Severability.

 

It is the desire and intent of the Parties that the provisions of this Agreement be enforced to the fullest extent permissible under the law and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, in the event that any provision of this Agreement would be held in any jurisdiction to be invalid, prohibited, or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited, or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.

 

Section 15.       Independence of Agreements, Covenants, Representations and Warranties.

 

All agreements and covenants hereunder shall be given independent effect so that if a certain action or condition constitutes a default under a certain agreement or covenant, the fact that such action or condition is permitted by another agreement or covenant shall not affect the occurrence of such default, unless expressly permitted under an exception to such covenant. In addition, all representations and warranties hereunder shall be given independent effect so that if a particular representation or warranty proves to be incorrect or is breached, the fact that another representation or warranty concerning the same or similar subject matter is correct or is not breached will not affect the incorrectness of or a breach of a representation and warranty hereunder. The exhibits and any schedules annexed hereto are hereby made part of this Agreement in all respects. 

 

 

8

 

 

Section 16.       Counterparts. 

 

This Agreement may be executed in any number of counterparts, and each such counterpart of this Agreement shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. Facsimile or PDF counterpart signatures to this Agreement shall be acceptable and binding.

 

Section 17.       Headings.

 

The section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

 

Section 18.     Expenses. 

 

Each Party shall pay its own fees and expenses incurred in connection with the negotiation, execution, delivery and performance of this Agreement, the Transaction Documents and any document or instrument contemplated hereby or thereby. 

 

Section 19.       Preparation of Agreement.

 

The Company prepared this Agreement and the Transaction Documents solely on its behalf. Each Party to this Agreement acknowledges that: (i) the Party had the advice of, or sufficient opportunity to obtain the advice of, legal counsel separate and independent of legal counsel for any other Party hereto; (ii) the terms of the transactions contemplated by this Agreement are fair and reasonable to such Party; and (iii) such Party has voluntarily entered into the transactions contemplated by this Agreement without duress or coercion. Each Party further acknowledges that such Party was not represented by the legal counsel of any other Party hereto in connection with the transactions contemplated by this Agreement, nor was he or it under any belief or understanding that such legal counsel was representing his or its interests. Each Party agrees that no conflict, omission, or ambiguity in this Agreement, or the interpretation thereof, shall be presumed, implied, or otherwise construed against any other Party to this Agreement on the basis that such Party was responsible for drafting this Agreement.

 

 

 

 

[Signature Pages Follow]

 

 

9

 

  

IN WITNESS WHEREOF, each of the undersigned has duly executed this Securities Purchase Agreement as of the later date set forth on the signature pages below.

 

 

	 	 	COMPANY:	 
	 	 	 	 
	 	 	 	 
	Date: February 24, 2014	 	SYOREX GLOBAL HOLDINGS CORP.	 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Nadir Ali 
	
 

	
 
	
 
	
Nadir Ali
	
 

	
 
	
 
	
Chief Executive Officer
	
 

 

[Purchaser Signature Page Follows]

  

 

10

 

 

Purchaser Signature Page to

Securities Purchase Agreement

 

 

	
PURCHASER:
	 	  
	  	 	  
	  	 	  
	
Geneseo Communications, Inc., by
	 	  
	
Scott D. Rubins
	 	 
	
Name of Purchaser
	 	
  Name of Individual representing

	
(Individual orInstitution)
	 	
  Purchaser (if an Institution)

	  	 	  
	  	 	  
	
/s/ Scott D. Rubins, President & CEO
	 	 
	
Title of Individual representing
	 	
  Signature of Individual Purchaser or 

	
Purchaser (if an Institution)
	 	
  Individual representing Purchaser

	  	 	  
	  	 	  
	  	 	  
	 	 	 
	
Address for Notices:   111 East First Street
	 	 
	
Geneseo, IL 61254
	 	  
	  	 	  
	
Telephone:                    309-944-2103
	 	 
	  	 	  
	  	 	  
	
Facsimile:                       309-944-4406
	 	 
	  	 	  
	  	 	  
	  	 	  
	  	 	  
	
 
	 	800,000
	 	 	Number of Shares Purchased
	  	 	  
	  	 	  
	
 
	 	$2,080,000
	 	 	Aggregate Purchase Price 
	  	 	  
	  	 	  
	
 
	 	2-24-2014
	 	 	Date

  

 

11EXHIBIT 10.16

Exhibit 10.16

 Consulting Services Ordering Agreement 

 

This Consulting Services Ordering Agreement, effective as of April 1, 2013 (the “Effective Date”), is by and between Sysorex Global Holdings Corp. (“Company”) having a principal place of business at 3375 Scott Blvd, Suite 440, Santa Clara, California, 95054 and A. Salam Qureishi (“Consultant”) having a place of business at 3375 Scott Blvd, Suite 440, Santa Clara, California, 95054.

 

Witnesseth:

 

That, whereas, Company is engaged in or preparing to engage in the business of providing professional services and consulting in the areas of large-scale information management, telecommunications, relational database, systems engineering, and related computer services to federal, state and local governments and commercial businesses and entities; and

 

 

Whereas, Consultant is highly skilled in the technical fields necessary to the development of this project; and

 

 

Whereas, Company is desirous of utilizing the technical services of Consultant as Company may require, and Consultant is desirous of offering its services to Company as Company may require, and as a result of the rendering of such services, Consultant may have access to Confidential Information and may further contribute hereto.

 

 

Now, Therefore, Company and Consultant hereby agree as follows:

 

	 	
1.
	
Definitions

	 	
a)
	
Consulting Services. The term “Consulting Services” shall refer to the services to be performed by Consultant pursuant to this Agreement and any issued task order, as specified on the Statement of Work or Work Order.

	 	
b)
	
New Developments. The term “New Developments” means discoveries, inventions, concepts and ideas, whether or not patentable and whether or not reduced to practice, and all works of authorship, whether or not copyrightable, including but not limited to proprietary or secret procedures, methods, engineer’s notebooks, techniques, processes, adaptations, and applications, as well as improvements or know-how related thereto, with respect to (i) any present or prospective activities of Company with which Consultant is or becomes acquainted with as a result or consequence of the performance of the Consulting Services contemplated by this Agreement, or (ii) the use of any Confidential Information.

 

 

 

	 	
c)
	
Confidential Information. The term “Confidential Information” shall refer to any information not generally known in the relevant trade or industry, which was obtained from Company, its consultants or licensors, or which falls within one or more of the following general categories:

	 	
(i)
	
information relating to trade secrets of Company or any Company customer, Company consultant or licensor;

	 	
(ii)
	
information relating to existing or contemplated products, services, technology, designs, processes, formulae, computer systems, computer software, algorithms and research or developments of Company or Company customer, consultant or licensor;

	 	
(iii)
	
information relating to the business of Company, its consultants and licensors, including but not limited to business plans, sales or marketing methods of doing business, customer lists, customer usages and/or requirements, and supplier information of Company or any Company customer, consultant or licensor;

	 	
(iv)
	
information relating to any New Developments; 

	 	
(v)
	
information marked “Confidential” or “Proprietary” by the Company.

	 	
d)
	
Competitor. The term “Competitor” shall refer to any person, firm, corporation, partnership or other business entity engaged in or about to become engaged in the production, licensing, sale or marketing of any product or service:

	 	
(i)
	
which is competitive with any product or service of Company with which Consultant has been concerned through its work for Company at any time during the preceding two (2) years, or

	 	
(ii)
	
with respect to which Consultant has acquired confidential information about the Company.

 

 

	 	
2.
	
Ordering. Consulting Services to be furnished pursuant to this Consulting Services Ordering Agreement shall be ordered by issuance of task orders by the Company. Such orders may be issued from April 1, 2013 through March 31, 2014 (the “Termination Date”) unless this Agreement terminates earlier according to its terms. Consultant shall continue work beyond the term of this Agreement if required by any task order issued during the term of the Agreement. The terms and conditions of this Agreement are incorporated into each task order issued hereunder. In the event of a conflict between a task order and this Agreement, this Agreement shall control. If mailed, a task order is considered “issued” when Company deposits the order in the mail. If faxed, a task order is considered “issued” when Company transmits the fax. Once issued, a task order is binding upon Consultant. By entry into this Agreement, Company is not obligated to order any Consulting Services from Consultant. Only issuance of a task order obligates Company. 

 

 

 

	 	
3.
	
Warranty of Original Development. Consultant represents and warrants that all Consulting services performed for Company under a task order issued pursuant to this Agreement, and all work products produced thereby will be of original development by Consultant, will be performed by Consultant, will be specifically developed for the fulfillment of the task order and this Agreement, and will not infringe upon or violate any patent, copyright, trade secret, license or other property or contractual right of any third party.

 

	 	
4.
	
Compensation and Expenses.

	 	 	
Consultant shall perform Consulting Services for Company as specified in an issued task order and Company agrees to pay Consultant for each hour worked on such task order at $375 per hour. Upon receipt of an invoice with timesheets showing hours worked submitted bimonthly by Consultant and signed by an authorized representative of the Company verifying that the work was performed, Company shall pay Consultant 30 days from the receipt date of such invoice/timesheet. Travel expenses, if pre-approved, will be reimbursed according to the JTR (Joint Travel Regulations). Any other terms of payment shall be as provided in accordance with the task order.

 

 

	 	
5.
	
Term and Termination.

	 	
a)
	
This Agreement or any task order may be terminated at a time earlier than the Termination Date or the completion date on any task order as follows:

	 	
(i)
	
by either party, upon thirty (30) days written notice;

	 	
(ii)
	
by Company, at such time as Consultant shall breach any provision of this Agreement or any task order, per written notice by Company to Consultant, upon ten (10) days written notice.

	 	
b)
	
Company’s obligation to compensate Consultant in accordance with this Agreement and any task order shall cease immediately either upon Consultant’s breach of this Agreement or of such task order or upon the date either party terminates the Agreement or a task order in accord with Section 5 (a) (i).

	 	
c)
	
Consultant’s obligations hereunder which by their terms survive expiration or termination of this Agreement or of any task order shall continue after such expiration or termination including, without limitation, obligations in Sections 7, 8, 15, 21 and 22 hereof.

 

	 	
6.
	
Consultant’s Independent Status. The Company and Consultant intend that an independent contractor relationship will be created by this Agreement. Consultant shall have no authority, express or implied, to commit or obligate Company in any manner whatsoever.

  

 

 

 

 

	 	
7.
	
Protection of Confidential Information. Consultant hereby acknowledges that Confidential Information is a valuable asset of the Company, and Consultant agrees to maintain and to protect it in accordance with this Agreement. Consultant at no time shall disclose to others, use for its own benefit, or otherwise appropriate or copy any Confidential Information, whether or not developed by Consultant, except as required in Consultant’s duties to Company. Where disclosure of any such information is required by Consultant’s duties to Company, Consultant shall notify Company in advance of such disclosure and assist Company in obtaining any protections for such Confidential Information as Company may require. Consultant agrees to comply with any and all procedures, which Company may adopt from time to time to preserve the confidentiality of any Confidential Information, provided, however, that at all times Consultant shall provide at least the same level of protection for Confidential Information as Consultant provides for its own such information. Company shall take reasonable steps to identify and the mark Confidential Information for Consultant. However, the absence of any such identification and marking will not give rise to an inference that the information contained therein or derived there from is not Confidential Information.

 

	 	
8.
	
Duty Upon Termination of Association.

	 	
a)
	
Upon termination of association with Company for any reason, Consultant agrees to deliver to Company all writings, designs, documents, records, data, memoranda, computer source code and object code listings, file layouts, record layouts, system design information, models, manuals, notebooks, documentation, notes, sales and marketing an other material of any nature which are in its possession or control and which are or contain Confidential Information.

	 	
b)
	
Consultant further agrees to retain in the strictest of confidence any Confidential Information it learned during the course of providing Consulting Services, unless and until all such information has been made generally available to the trade, other than by breach of this Agreement by Consultant.

	 	
c)
	
Consultant recognizes that, upon termination of this association, Company may deem it advisable to notify existing and prospective clients that Consultant has had access to Confidential Information and that Consultant is under a continuing obligation under the terms of this Agreement not to disclose such information. Consultant agrees that Company may serve such notice. Company shall concurrently deliver a copy of such notice to Consultant.

 

	 	
9.
	
Other Agreements. Consultant represents and warrants that its signing of this Agreement and the performance of Consulting Services under any task order issued hereunder is not and will not be knowingly in violation of any other contract, agreement or understanding to which it is a party.

 

	 	
10.
	
Assignment. This Agreement and any task order and the rights and obligations of Consultant related thereto may not be assigned or transferred in whole or in part by Consultant without the prior written consent of Company, and no such assignment or transfer or attempted assignment or transfer shall be effective for any purpose whatsoever without Company’s prior written consent. Company shall have no obligation to recognize any purported assignee or transferee. The rights of Company, however, may be assigned or transferred at Company’s discretion.

  

 

 

 

 

	 	
11.
	
Attorney’s Fees. If any legal action or other proceeding is brought for the enforcement of this Agreement or any task order, Company as the prevailing party shall be entitled to recover its reasonable attorney’s fees at standard billing rates from Consultant, and other reasonable costs incurred in that action or proceeding, in addition to any other relief to which it may be entitled.

 

	 	
12.
	
Severability. In case a court of competent jurisdiction that any provision herein contained determines it or in any task order is illegal or unenforceable, such determination shall solely affect such provision and shall not impair the remaining provisions of this Agreement or such task order, which shall remain in full force and effect.

 

	 	
13.
	
Plurals Gender. Any word in the text of this Agreement or any task order shall be read as the singular or plural and the masculine, feminine or neuter gender as may be appropriate under the circumstances then existing.

 

	 	
14.
	
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia covering contracts made and executed in that Commonwealth but excluding choice of law provisions. The venue of any such litigation or dispute between the parties shall be in Fairfax County, Virginia.

 

	 	
15.
	
Indemnity. To the maximum extent permitted by law, Consultant shall unconditionally indemnify, hold harmless and defend Company and all of its directors, officers, employees, and agents from and against all claims, losses, injury, damage, withholdings and legal liability, including attorney’s fees and litigation costs, caused by the negligence, fault, error or omission of Consultant, its agents or representatives. Such indemnity shall extend to all claims, losses, injury, damage, withholdings and legal liability arising from or related to any infringement or violation of any patent, copyright, trade secret, license or other property or contractual right of any third party.

 

	 	
16.
	
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.

 

	 	
17.
	
Insurance. Company holds no liability claim for the Consultant. 

  

 

 

 

  

	 	
18.
	
Notice. Except as otherwise provided herein, notice, payments, or any other communication provided for herein shall be deemed to be given when mailed by first class mail, return receipt requested, addressed to the parties as follows:

 

 

	
Company:
	
Consultant:

	 	 
	
Sysorex Global Holdings Corp.
	
A. Salam Qureishi

	 	 
	
3375 Scott Blvd
	
3375 Scott Blvd 

	 	 
	
Suite 440
	
Suite 440

	 	 
	
Santa Clara, California, 95054
	
Santa Clara, California, 95054

 

	 	
19.
	
Entire Agreement. The terms and conditions herein contained and in any task order constitute the entire agreement between the parties and supersede all previous agreements and understandings, whether oral or written between the parties hereto with respect to the subject matter hereof, and no agreement or understanding varying or extending the same shall be binding upon either party hereto unless in a written document which expressly refers to this Agreement and any task order and which is signed by the party to be bound thereby.

 

	 	
20.
	
Authority of Individuals to Sign Agreements. Each party hereto acknowledges that individuals signing this Agreement are authorized to sign on behalf of their respective companies and that they are bound by the terms hereof.

 

	 	
21.
	
Events of Default. Either Company or Consultant will be in default of this Agreement or any task order for failure to perform any obligation required of such Agreement or task order or by failing to make progress so as to endanger performance thereof. Upon an event of default, the non-defaulting party shall give a written notice to the defaulting party describing the nature of the default and requesting that the default be cured within ten (10) business days. If said default is not cured within ten (10) business days, the non-defaulting party shall have the option of terminating this Agreement or task order and seeking damages and other remedies as allowed under this Agreement, under a task order and by law against the defaulting party. The option to so terminate shall be considered automatically effected at the end of the tenth (10th) business day, unless the non-defaulting party grants a written extension or waiver.

 

	 	
22.
	
Non-Recruitment Policy. The parties expressly agree that they will not solicit for employment or independent contracting, either directly or indirectly, any of the other party’s employees or consultants for a period of one (1) year after the later of i) termination of this Agreement or ii) termination of the final task order. Either party may waive its rights under this provision, in writing, on a case-by-case basis.

  

 

 

 

 

	 	
23.
	
Conflict of Interest. Company recognizes that Consultant has performed services for entities other than Company and may also be doing business with other such entities at the time it is rendering services to Company. Consultant hereby agrees that for a period of one (1) year following the later of i) termination of this Agreement or ii) termination of the final task order, Consultant will not provide consulting services to Company customers whom Consultant supported under this Agreement or any task order without first obtaining written approval from Company’s executive management. The preceding clause only pertains to work the Consultant performed under this agreement or any issued task order for Company's customer and not to Company’s customer as a whole.  Consultant hereby certifies that in its dealings with entities other than Company, it will exercise reasonable care not to conflict its interests with Company’s interests.

	 	
24.
	
Publicity. Consultant shall make no public announcements or engage in any marketing or promotion concerning this Agreement or the work performed hereunder without the advance written consent of Company, which consents, shall not be unreasonably withheld.

 

IN WITNESS WHEREOF, the undersigned have executed this Agreement.

 

	
Company:
	
Consultant:

	
Sysorex Global Holdings Corp.
	
A. Salam Qureishi

	
 

 

/s/ Nadir Ali______________________

Signature
	
 

 

/s/ A. Salam Qureishi______________

Signature

	
 

 

Name: Nadir Ali
	
 

 

Name: A. Salam Qureishi

	
 

 

Title: CEO
	
 

 

Title: Chairman of the Board

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}]]