Exhibit 10.51
BIOMED RESEARCH TECHNOLOGIES, INC.
PROJECT CONSULTING AGREEMENT
This Project Consulting Agreement is entered into as of this 1st day of October
2000 between Biomed Research Technologies, Inc. located at 0000 Xxxx Xxxxx
Xxxxx, Xxxxxxx, XX 00000 (hereinafter also referred to as COMPANY) and Xxxxxxx
X. Xxxxxxxx, Ph.D. an independent contractor, located at 00000 Xxxxxx Xxxx Xx.,
Xxxxx, XX 00000 (hereinafter also referred to as the CONSULTANT).
In consideration of the premises and mutual covenants contained herein, the
parties hereto agree as follows:
1 WORK TO BE PERFORMED
The CONSULTANT shall find potential new projects and provide advisory
services related to Biomed Research Technologies, Inc. scope of
products and services. CONSULTANT grants to COMPANY first right of
refusal on any and all My-Tech, Inc. projects with the University of
North Texas Health Science Center Cardiovascular Research Institute or
any other institutions or individuals during the term of this
Agreement.
2 INDEPENDENT CONSULTANT
The CONSULTANT is retained as an independent contractor by COMPANY to
the extent set forth in this Agreement and shall not be considered to
have the status of an employee of the COMPANY. As an independent
contractor, the CONSULTANT is not authorized to act on behalf of the
COMPANY or to obligate the COMPANY in any manner whatsoever. Consultant
is not entitled to any of the benefits of the COMPANY'S employees; and,
is required to make all payments applicable to federal, state, and
local taxing authorities, social security, etc.
3 TERM
The consulting services hereunder shall be performed during the
twelve-month period commencing October 1, 2000, with an automatic
annual renewal each succeeding year for the next six- (6) years.
However, it is understood and agreed that this Agreement can be
extended or modified with the approval of both parties. Both parties
agree to evaluate performance, objectives and time lines upon the
expiration of each annual renewal period.
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Xxxxxx L Rosner_________________
Xxxxxxx X. Xxxxxxxx, Ph.D._________________
4 REPORTS
The CONSULTANT shall submit a Services Performed Report periodically to
the Senior Executives. This report shall outline the status of each
area as defined in Section 1.
5 CONSIDERATION
The CONSULTANT shall be engaged for his services according to the term
in Section 3 for total consideration of 1,000,000 shares (SHARES) of
Biomed Research Technologies, Inc., ("BRTI") and a monthly fee of Six
thousand two hundred fifty dollars ($6,250).
6 EXPENSES
The COMPANY shall incur all business-related expenses. Any amount
greater than $500 shall require the COMPANY'S written approval, which
is not limited but includes travel expenses, postage, telephone charges
and other related cost in an itemized statement submitted monthly for
reimbursement.
7 NONDISCLOSURE OF INFORMATION
The CONSULTANT agrees to keep in strictest confidence all information
related to the products, methods of development/manufacture, trade
secrets, and business affairs of COMPANY in connection with, or because
of, the performance of services under this Agreement.
8 TERMINATION
Either party may terminate this Agreement at any time after 90 days
from commencement by written notice to the other party.
9 ACTING AS CONSULTANT ONLY
It is understood that CONSULTANT is not a licensed securities broker or
dealer. CONSULANT shall have no authority to enter into any commitments
on the Company's behalf, to negotiate terms, or to hold any
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Xxxxxx L Rosner_________________
Xxxxxxx X. Xxxxxxxx, Ph.D._________________
funds or securities; or to perform any act which would require to be
licensed as a securities or real estate broker or dealer.
10 ACCURATE INFORMATION
The COMPANY hereby represents and warrants that all information
provided CONSULTANT pertaining to the COMPANY shall be true and
correct; and the COMPANY shall hold CONSULTANT harmless from any and
all liability, expenses or claims arising from the disclosure or use of
such information.
11 APPLICABLE LAW
This Agreement shall be construed in accordance with, and be governed
by, the laws of the State of Florida, Broward County. All disagreements
shall be subject to and resolved by American Arbitration Association.
If the foregoing correctly sets forth our Agreement, please sign and return the
enclosed copy of this letter.
Sincerely,
/s/ Xxxxxx X. Xxxxxx
Xxxxxx X Xxxxxx
Executive Vice President
AGREED TO AND ACCEPTED AS OF THE DATE HEREOF
/s/ Xxxxxxx X. Xxxxxxxx Date: ______________
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Xx. Xxxxxxx X. Xxxxxxxx
(Authorized Signature)
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Xxxxxx L Rosner_________________
Xxxxxxx X. Xxxxxxxx, Ph.D._________________
