SEC Contract Filing

Filing Date: 2015-04-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>12
<FILENAME>exhibit1011.htm
<DESCRIPTION>EXHIBIT 10.11
<TEXT>
<HTML>
<head><title>Filed by OTC Filings Inc. - www.otcedgar.com - 1-866-832-FILE(3453) - Cannabis Science, Inc. - Exhibit 10.11</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:Times New Roman; COLOR:#000000; MARGIN-TOP:0px"> <p style="FONT-SIZE:7.2pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:7.2pt; MARGIN:0px" align=center><b><font style=FONT-SIZE:11pt>INDEPENDENT CONSULTING AGREEMENT</font></b></p><font style=FONT-SIZE:11pt> <p style=MARGIN:0px align=justify><br></p></font> <p style="FONT-SIZE:7.2pt; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><b>THIS INDEPENDENT CONSULTING AGREEMENT </b>(the "<b>Agreement</b>") effective as of the day of 1<sup>st</sup> day of January, 2015 (the <b>Effective Date</b>&#148;), entered into between <b>Cannabis Science, Inc.</b>, a Nevada corporation, with its principal offices located at 6946 North Academy Blvd Suite B #254, Colorado Springs, Colorado 80918 (the &#147;<b>Company</b>&#148; or &#147;<b>CBIS</b>&#148;) and <b>Intrinsic Venture Corp</b>, a British Columbia corporation, with its principal offices located at Suite 1060 &#150; 1055 West Hastings St., Vancouver, BC V6E 2E9 (the &#147;<b>Consultant</b>&#148;) in connection with the provision of the Consultant&#146;s services to the Company.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="FONT-SIZE:7.2pt; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><b>WHEREAS</b>:</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:Calibri,Times New Roman; WIDTH:24px; FLOAT:left; MARGIN-TOP:0px"><font style=FONT-SIZE:11pt face="Times New Roman">A.</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:11pt>The Company is in the business of manufacturing, marketing and distributing legal cannabis/hemp products worldwide;</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:Calibri,Times New Roman; WIDTH:24px; FLOAT:left; MARGIN-TOP:0px"><font style=FONT-SIZE:11pt face="Times New Roman">B.</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:11pt>The Company wishes to engage the services of the Consultant as an independent contractor of the Company; and</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:Calibri,Times New Roman; WIDTH:24px; FLOAT:left; MARGIN-TOP:0px"><font style=FONT-SIZE:11pt face="Times New Roman">C.</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:11pt>The Company and the Consultant have agreed to enter into a consulting agreement for their mutual benefit.</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><b>THIS AGREEMENT WITNESSES THAT </b>in consideration of the premises and mutual covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows:</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><b><font style=FONT-SIZE:11pt>1.</font></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b><font style=FONT-SIZE:11pt>ENGAGEMENT AS A CONSULTANT</font></b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><font style=FONT-SIZE:11pt>1.1</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:11pt>The Company hereby engages the Consultant as an independent contractor of the Company, to provide services related to accounting, business, and financial services as further described in Section 3.1 as requested by the Company or its subsidiaries from time to time, (collectively the &#147;<b>Services</b>&#148;) and the Consultant accepts such engagement on the terms and conditions set forth in this Agreement.</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><b><font style=FONT-SIZE:11pt>2.</font></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b><font style=FONT-SIZE:11pt>TERM OF THIS AGREEMENT</font></b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><font style=FONT-SIZE:11pt>2.1</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:11pt>The term of this Agreement shall begin as of the Effective Date and shall continue for a period of one (1) year or until terminated earlier pursuant to Sections 13 or 14 herein (the &#147;<b>Term</b>&#148;). &nbsp;This Agreement shall automatically renew for an additional one (1) year term at the end of the Term. &nbsp;Compensation for renewal terms shall be in accordance with Section 4 unless modified at the Company&#146;s and the Consultant&#146;s mutual agreement.</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left;