SEC Contract Filing

Filing Date: 2019-12-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex103_3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<html><body><div><div style="font-family: 'times new roman', times; font-size: 10pt; text-align: center;">
<p style="margin: 12pt 0pt 3pt; text-align: right;"><font style="font-size: 11pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">EXHIBIT 10.3</font></font></p>
<font style="font-size: 11pt;"><font style="font-family: 'times new roman', times;"><font style="font-weight: bold;">INDEPENDENT CONTRACTOR AGREEMENT</font></font><font style="font-family: 'times new roman', times;">&nbsp;</font></font>
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-size: 11pt; font-family: 'times new roman', times;">This Independent Contractor Agreement (or &#8220;Agreement&#8221;) is entered into to be effective as of the 16<font style="vertical-align: super;">th</font> day of December 2019 (the &#8220;Effective Date&#8221;), between Industrial Services of America, Inc. (the &#8220;Company&#8221;) and Todd L. Phillips (&#8220;Contractor&#8221;).&nbsp; The Company and Contractor shall be referred to individually as a &#8220;Party&#8221; or together as the &#8220;Parties.&#8221;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">&nbsp;</font></p>
<ol type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; margin: 0pt 0pt 0pt 32pt; orphans: 0; padding-left: 4pt; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt; font-weight: bold;">INDEPENDENT CONTRACTOR STATUS &amp; OBLIGATIONS</font></li>
</ol>
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">&nbsp;</font></p>
<ol type="A" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; margin: 0pt 0pt 0pt 67.07pt; orphans: 0; padding-left: 1.33pt; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt; font-family: 'times new roman', times;"><font style="text-decoration: underline;">Independent Contractor</font>.&nbsp; Subject to the terms and conditions of this Agreement, the Company hereby engages Contractor as an independent contractor to perform the services set forth herein, and Contractor hereby accepts such engagement, on a non-exclusive basis.&nbsp; Contractor acknowledges that the relationship of Contractor to the Company is at all times that of an independent contractor.&nbsp; This Agreement does not constitute, and will not be construed as constituting, an employment relationship between the Company and Contractor.&nbsp; </font></li>
</ol>
<p style="margin: 0pt 0pt 0pt 68.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">&nbsp;</font></p>
<ol start="2" type="A" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; margin: 0pt 0pt 0pt 66.4pt; orphans: 0; padding-left: 2pt; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt; font-family: 'times new roman', times;"><font style="text-decoration: underline;">Term and Termination</font>.&nbsp; This Agreement shall commence on the Effective Date upon the termination of Contractor&#8217;s full-time employment with the Company and shall continue until terminated pursuant to the terms hereof (the &#8220;Term&#8221;).&nbsp; This Agreement may be terminated at any time: (i) by mutual written consent of the Parties, (ii) by Contractor upon five (5) days written notice, or (iii) by the Company if Contractor has breached or failed to perform, in any material respect, any of the covenants or agreements set forth in (a) this Agreement, or (b) the Agreement and Release between the Parties of even date herewith (including the other agreements incorporated therein by reference).&nbsp; </font></li>
</ol>
<p style="margin: 0pt 0pt 0pt 90pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 11pt;">&nbsp;</font></p>
<ol start="3" type="A" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; margin: 0pt 0pt 0pt 66.4pt; orphans: 0; padding-left: 2pt; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt; font-family: 'times new roman', times;"><font style="text-decoration: underline;">Effect of Termination</font>.&nbsp; In the event of the termination of this Agreement, Contractor agrees that the Company shall owe the unpaid portion of any Service Fee (as defined in Section 2(B) of this Agreement) for hours worked through the date of termination and any unreimbursed reasonable business expenses.&nbsp; Upon termination of this Agreement, unless otherwise approved before such termination by a majority of the members of the Company&#8217;s Board of Directors other than Contractor, Contractor shall be deemed to have immediately resigned from the Board of Directors and any other position as an officer, director or fiduciary of any Company-related entity.</font></li>
</ol>
<p style="margin: 0pt 0pt 0pt 90pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 11pt;">&nbsp;</font></p>
<ol start="4" type="A" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; margin: 0pt 0pt 0pt 67.07pt; orphans: 0; padding-left: 1.33pt; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt; font-family: 'times new roman', times;"><font style="text-decoration: underline;">Expenses</font>.&nbsp; The<font style="font-weight: bold;"> </font>Company agrees to, upon the providing of receipts, reimburse Contractor for reasonable out-of-pocket business expenses