SEC Contract Filing

Filing Date: 2015-03-25

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d897851dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MEDBOX, INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DIRECTOR
RETENTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS MEDBOX, INC. DIRECTOR RETENTION AGREEMENT (&#147;Agreement&#148;) is entered into by and between, on one
hand, Medbox, Inc., a Nevada corporation with principal executive offices in California (&#147;Medbox&#148; and or &#147;Company&#148;) and, on the other hand, Mitch Lowe (&#147;Director&#148;) as of March&nbsp;1, 2014. Medbox and Director are
sometimes referred to herein, from time to time, collectively, as the &#147;Parties.&#148; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Recitals </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Director has been elected as a member of the board of directors of Medbox for a term beginning as of March&nbsp;1, 2014; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Director has agreed to serve as a member of the board of directors of Medbox for the aforementioned term and subject to its in-force
articles and bylaws and governing law; and, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Medbox wishes to compensate and arrange for compensation for Director as
consideration for his expected service as a member of the board of directors of Medbox. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Terms And Conditions </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the mutual promises, agreements and or covenants set forth in this Agreement, the Parties agree as follows:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Services Provided By Director.</U> Director agrees to serve as a member of the board of directors of the Company (the &#147;Board&#148;) and,
subject to his election thereto, any committee of the Board comprised of Company Board members (&#147;Committee&#148;) as may be formed and as to which he may be elected, and to provide those services (the &#147;Services&#148;) required of a
director and, as may be the case Committee member under the Company&#146;s articles and bylaws (&#147;Articles and Bylaws&#148;), as both may be amended from time to time, and under the corporate law of the State of Nevada, the federal securities
laws and other state and federal laws and regulations, as may be applicable. Presently, Director is a member of the following board committees: governance (Chairman), nominating (Chairman), audit (member), compensation (member). It is contemplated
that Director will provide guidance to the Company regarding vertical strategies, manufacturing, marketing and other matters within his experience and background, and the Director agrees to be available as the Company needs his time, as requested by
the CEO/President and Chairman of the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Nature of Relationship.</U> Director will not be deemed an employee of the Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Company Information</U>. The Company will supply to Director, at the Company&#146;s expense: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) periodic briefings on the business and operations of the Company; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) director packages for each Board and Committee meeting, at a reasonable time before each meeting; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) copies of minutes of all stockholders&#146;, Board and Committee meetings; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) any other materials that are required under the Articles and Bylaws or the charter of any Committee on which the Director serves; and, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) any other materials which may, in the reasonable judgment of Director, be necessary or desirable for performing the Services. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Representations, Warranties and Covenants of Director</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Director represents and warrants that the performance of the Services will not violate any written agreement to which Director is a party; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) If in the reasonable discretion of the Director, a potential conflict of inter