SEC Contract Filing

Filing Date: 2015-05-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN ENDURANCE EXPLORATION GROUP, INC. AND ECLIPSE GROUP INC.
<TEXT>
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<TITLE>MASTER TEAMING AGREEMENT</TITLE>
<META NAME="author" CONTENT="ccollins@vfnlaw.com">
<META NAME="date" CONTENT="05/18/2015">
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<DIV style="width:624px"><P style="margin:0px"><BR></P>
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<P style="margin:0px; font-size:12pt" align=center><B><U>AGREEMENT</U></B></P>
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<P style="margin:0px; font-size:12pt" align=justify>THIS AGREEMENT (the &#147;Agreement&#148;) is made and entered into this 15th day of May 2015, by and between <B>Endurance Exploration Group, Inc.</B>, a Florida corporation, (&#147;Endurance&#148;) and, <B>Eclipse Group, Inc.</B>, a Maryland corporation. (&#147;Contractor&#148;) </P>
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<P style="margin:0px; font-size:12pt" align=justify>WHEREAS, Endurance has located a number lost shipwrecks through the use of side-scan sonar inside its &#147;Sailfish&#148; search area consisting of approximately 700 sq. miles; and,</P>
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<P style="margin:0px; font-size:12pt" align=justify>WHEREAS, Endurance desires the Contractor to provide services, equipment and/or personnel in support of the anticipated Endurance mission(s) to inspect and recover one or more of the shipwreck cargoes located by Endurance; and, </P>
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<P style="margin:0px; font-size:12pt" align=justify>WHEREAS, the Contractor desires to supply services equipment and/or personnel in support of Endurance&#146;s anticipated mission(s); and,</P>
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<P style="margin:0px; font-size:12pt" align=justify>WHEREAS, the Parties desire to establish a formal contractual relationship to govern their work together in accordance with the terms and conditions of this Agreement:</P>
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<P style="margin:0px; font-size:12pt" align=justify>NOW THEREFORE, in consideration of the mutual promises, terms and conditions herein contained, as well as other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties do hereby agree as follows:</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">1. &nbsp;</P>
<P style="margin:0px; text-indent:-2px; font-size:12pt">SERVICES, EQUIPMENT AND/OR PERSONNEL PROVIDED BY CONTRACTOR </P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">1.1</P>
<P style="margin:0px; text-indent:-2px; font-size:12pt" align=justify>The services, equipment and/or personnel to be provided by the Contractor herein are fully described in Schedule &#147;A&#148; attached to this Agreement and incorporated by this reference.</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">1.2 </P>
<P style="margin:0px; text-indent:-2px; font-size:12pt" align=justify>Any addendum changes, modifications, additions or deletions from the services, equipment and/or personnel as specified in Schedule &#147;A&#148; must be in the form of a written agreement and signed by both parties and attached to all original copies of this Agreement.</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">2.</P>
<P style="margin:0px; text-indent:-2px; font-size:12pt">COMPENSATION</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">2.1</P>
<P style="margin:0px; text-indent:-2px; font-size:12pt" align=justify>The total amount of compensation to be paid to Contract by Endurance is fully described in Schedule &#147;B&#148; attached to this Agreement and incorporated by this reference.</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">2.2</P>
<P style="margin:0px; text-indent:-2px; font-size:12pt" align=justify>Any addendum changes, modifications, additions or deletions from total amount of compensation as specified in Schedule &#147;B&#148; must be in the form of a written agreement and signed by both parties and attached to all original copies of this Agreement</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">3. &nbsp;</P>
<P style="margin:0px; text-indent:-2px; font-size:12pt">CONFIDENTIALITY, MUTUAL NON-DISCLOSURE AND NON-COMPETE</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">3.1</P>
<P style="margin:0px; text-indent:-2px; font-size:12pt" align=justify>The&nbsp;&nbsp;Parties, in the ordinary course of their working relationship, will disclose Confidential Information to one another.</P>
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<P style="margin:0px; font-size:12pt" align=center>1</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:12pt; float:left">3.2</P>
<P style="margin:0px; text-indent:-2px; font-size:12pt" align=justify>Once disclosed the receiving party shall not disclose such Confidential Information to any contractor or other third party without prior, written approval from the disclosing party and shall protect such Confidential Information from i