Document:

Exhibit 10.12 - Consulting Agreement with John Colonna.

Exhibit 10.12

Consulting Agreement

 

This Consulting Agreement (the "Agreement") is entered into this 4th Day of August 2008 by and between John (Giovanni) Anthony Colonna, an individual, ("Consultant") and South Shore Resources Inc. (the "Company").

RECITALS

WHEREAS, the Company is in need of assistance in the Hydrogen Fuel Generation support area; and

WHEREAS, Consultant has agreed to perform consulting work for the Company in providing any and all support and consulting services and other related activities as directed by the Company;

NOW, THEREFORE, the parties hereby agree as follows:

1. Consultant's Services. Consultant shall be available and shall provide to the Company professional consulting services in the area of Design, Assembly, and Manufacturing support ("Consulting services") as requested.

1a All services and information provided and or discussed between the Consultant and the Company will become the exclusive property of the company and the consultant agrees that he has no claim against such property.

2. Consideration

2a. RATE. In consideration for the Consulting Services to be performed by Consultant under this Agreement, the Company will pay Consultant the rate of Five Thousand Dollars (Canadian Funds) Per: Month for time spent on Consulting Services. Consultant shall submit written, signed reports of the time spent performing Consulting Services, itemizing in reasonable detail the dates on which services were performed, the number of hours spent on such dates and a brief description of the services rendered. The Company shall pay Consultant the amounts due on the 30th day of each and every month incurred while the Agreement between Consultant and the Company exists.

2b. EXPENSES. Additionally, the Company will pay Consultant for the following expenses incurred while the Agreement between Consultant and the Company exists: All expenses must be pre approved in writing.

 

 

- Lodging Expenses if work demands overnight stays; and

- Miscellaneous travel-related expenses.

Consultant shall submit written documentation and receipts itemizing the dates on which expenses were incurred. The Company shall pay Consultant the amounts due within 30 days after an expense report is received by the Company.

3. Independent Contractor. Nothing herein shall be construed to create an employer-employee relationship between the Company and Consultant. Consultant is an independent contractor and not an employee of the Company or any of its subsidiaries or affiliates. The consideration set forth in Section 2 shall be the sole consideration due Consultant for the services rendered hereunder. It is understood that the Company will not withhold any amounts for payment of taxes from the compensation of Consultant hereunder. Consultant will not represent to be or hold themselves out as an employee of the Company.

4. Confidentiality. In the course of performing Consulting Services, the parties recognize that Consultant may come in contact with or become familiar with information which the Company or its subsidiaries or affiliates may consider confidential. This information may include, but is not limited to, information pertaining to the Company systems, which information may be of value to a competitor. Consultant agrees to keep all such information confidential and not to discuss or divulge it to anyone other than appropriate Company personnel or their designees.

5. Term. This Agreement shall commence on the 4th Day of August 2008 and shall terminate on [June 30 2009], unless earlier terminated by either party hereto. Either party may terminate this Agreement upon Thirty (30) days prior written notice. The Company may, at its option, renew this Agreement for an additional One (1) year term on the same terms and conditions as set forth herein by giving notice to Consultant of such intent to renew on or before [May31 2009].

6. Notice. Any notice or communication permitted or required by this Agreement shall be deemed effective when personally delivered or deposited, postage prepaid, in the first class mail of the United States properly addressed to the appropriate party at the address set forth below:

	1. Notices to Consultant:  	36 Echoridge Drive  
	   	
	  	Brampton Ontario  
	   	
	  	Canada L7A 3K8]  

 

 

 

 

	2. Notices to the Company:  	Times Square  
	  	
	  	P.O Box 663  
	  	
	  	Providenciales Turks and Caicos Islands  
	   	
	  	B.W.I.  

7. Miscellaneous.

7.1 Entire Agreement and Amendments. This Agreement constitutes the entire agreement of the parties with regard to the subject matter hereof, and replaces and supersedes all other agreements or understandings, whether written or oral. No amendment or extension of the Agreement shall be binding unless in writing and signed by both parties.

7.2 Binding Effect, Assignment. This Agreement shall be binding upon and shall inure to the benefit of Consultant and the Company and to the Company's successors and assigns. Nothing in this Agreement shall be construed to permit the assignment by Consultant of any of its rights or obligations hereunder, and such assignment is expressly prohibited without the prior written consent of the Company.

7.3 Governing Law, Severability. This Agreement shall be governed by the laws of the Province of Ontario (Canada). The invalidity or unenforceability of any provision of the Agreement shall not affect the validity or enforceability of any other provision.

 

 

WHEREFORE, the parties have executed this Agreement as of the date first written above.

South Shore Resources Inc.

By:    RICHARD WACHTER

Richard Wachter (President)

____________________________    

John (Giovanni) Anthony Colonna:

By:    JOHN COLONNAex102.htm

    

     

    CITY
NATIONAL BANK

    The way up.

     

    FIRST
AMENDMENT TO CREDIT AGREEMENT

     

    This
First Amendment to Credit Agreement is entered into as of August 4, 2008, by and
between PRI
Medical
Technologies, Inc., a Nevada corporation ("Borrower") and City
National Bank, a national banking association ("CNB").

    RECITALS

     

    A. Borrower
and CNB are parties to that certain Credit Agreement, dated as of May 1, 2008,
(the Credit Agreement, as herein amended, hereinafter the "Credit
Agreement").

     

    B. Borrower
and CNB desire to supplement and amend the Credit Agreement as hereinafter set
forth.

     

    NOW,
THEREFORE, the parties agree as follows:

     

    1. Definitions.
Capitalized terms used in this Amendment without definition shall have
the meanings set forth in the Credit Agreement.

     

    2. Amendments.
The Credit Agreement is amended as follows:

     

    2.1              
Section 1.8 (Commitment)
is amended in its entirety to provide as follows:

     

    "1.8
'Commitment'
means CNB's commitment to make the Loans in the aggregate principal
amount outstanding at any one time of up to ONE
MILLION FIVE HUNDRED THOUSAND AND
NO/100THS DOLLARS ($1,500,000.00)."

     

    2.2              Section
1.22 (Revolving
Credit Commitment) is amended in its entirety to provide
as follows:

     

    "1.22
'Revolving
Credit Commitment' means CNB's commitment to make the Revolving Credit
Loans in the aggregate principal amount at any one time of up to ONE
MILLION
FIVE HUNDRED THOUSAND AND NO/100THS
DOLLARS ($1,500,000.00)."

     

    2.3              Section
1.25 (Termination
Date) of the Credit Agreement is amended in its entirety
to provide as
follows:

     

    "125
'Termination
Date'
means August
3, 2009.
Notwithstanding the foregoing, CNB may, at its option, terminate this
Agreement pursuant to the Section entitled "CNB's Remedies"; the date of any
such termination will become the Termination Date as that term is used in this
Agreement."

     

    
      
        
        

      

      
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    2.4               Section
2.1 (Revolving Credit Loan)
is amended in its entirety to provide as follows:

     

    "2.1
'Revolving Credit Loan.'
Subject to the terms of this Agreement, CNB agrees to make loans
("Revolving Credit Loans") to Borrower, from the date of this Agreement up to
and including the Termination Date, at such times as Borrower may request, up to
the amount of the Revolving Credit Commitment. The Revolving Credit Loans may be
repaid and reborrowed at any time up to and including the Termination
Date."

     

    3. Existing Agreement. Except as
expressly amended herein, the Credit Agreement shall remain in full force and
effect, and in all other respects is affirmed.

     

    4. Conditions Precedent. This
Amendment shall become effective upon the fulfillment of all of the following
conditions to CNB's satisfaction:

     

    4.1               CNB
shall have received this Amendment duly executed by Borrower; and

     

    4.2               CNB
shall have received a separate Commercial Guaranty executed by the Guarantor
guarantying
repayment of all Obligations of Borrower to CNB.

     

    5. Counterparts. This Amendment
may be executed in any number of counterparts, and all such counterparts taken
together shall be deemed to constitute one and the same instrument.

     

    6. Governing Law. This Amendment
and the rights and obligations of the parties hereto shall be construed in
accordance with, and governed by the laws of the State of
California.

     

    IN WITNESS WHEREOF, the
parties have executed this Amendment as of the day and year first above
written.

     

     

     

    
      
        	
                "Borrower"

              	PRI Medical Technologies, Inc.,
      a	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ 	 
	 	 	
                Bruce
      J. Haber

              	 
	 	 	Chairman/Chief
      Executive Officer	 
	 	 	 	 

      

    

     

    
      
        	
                "CNB" 

              	
                City National Bank, a
      national

                banking
      association

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ 	 
	 	 	
                George
      Hill

              	 
	 	 	Senior
      Vice President	 
	 	 	 	 

      

    

     

     

     

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