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| B. | Company shall pay to Consultant a fee equal to 10% of all gross proceeds received by the Company as a result of the exercise of warrants. Such fee shall be due and payable beyond the term of this Amendment. |
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| C. | Discretionary Award Fees. At the discretion of the Company, this Amendment provides for the payment of fees payable to the Consultant. At the mutual agreement of Company and the Consultant, Company can pay to Consultant fees in either readily available funds or other marketable securities. |
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3. | Indemnification. Consultant shall not be liable to the Company or to any officer, director, employee, stockholders, or creditor of the Company, for any act or omission in the course of or in connection with the provision of advice or assistance hereunder. The Company agrees to and shall defend, indemnify and hold Consultant harmless from and against any and all suits, claims, demand, causes of action, judgment damages, expenses and liability, (including court costs and attorney¡¯s fees paid in the defense of Consultant) which may in any way result from services provided by Consultant pursuant to or in connection with this Amendment. |
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4. | Term and Termination. This Amendment shall commence as of the date of the Amendment, July 1, 2008 and the obligation of the Consultant to provide services under this Amendment will terminate on June 30, 2009. Such period is herein referred to as the ¡°Term¡±. The Term of this Amendment may be extended by mutual agreement upon written notice by the Company to the Consultant, countersigned by the Consultant. Either party may terminate this Agreement upon the giving of thirty (30) days¡¯ prior written notice, in which case the Company¡¯s sole liability to Consultant shall be for unpaid fees up to the date of the termination and unreimbursed expenses incurred by Consultant. |
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5. | Entire Agreement. This Amendment contains the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto. |
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6. | Waivers and Amendments. This Amendment may be amended, modified, superseded, cancelled, renewed or extended, and the terms and conditions hereof may be waived, only by a written instrument signed by the parties or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party of any right, power or privilege hereunder, nor any single or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. The rights and remedies herein provided are cumulative and are not exclusive of any rights or remedies which any party may otherwise have at law or in equity. |
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7. | Governing Law. This Amendment shall be governed and construed in accordance with the laws of the State of Nevada applicable to agreements made and to be performed entirely within such State. |
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8. | Severability of Provisions. The invalidity or unenforceability of any term, phrase, clause, paragraph, restriction, covenant, agreement or other provision of this Amendment shall in no way affect the validity or enforcement of any other provision or any part thereof. |
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9. | Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed, shall constitute an original copy hereof, but all of which together shall consider but one and the same document. |
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10. | Other Activities. Nothing contained herein shall prevent Consultant from acquiring or participating in a transaction of any kind with any other entity. Such transaction may be acquired at a price and upon terms and conditions more or less favorable than those offered to Company. |
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11. | Disclaimer. Consultant acknowledges that he has relied upon the information provided by Company. Consultant has in entering into this Amendment, relied on the warranties or representations made by Company, its officers, directors, agents, legal counsel or accountants concerning Company and/or its stock as to matters past, present or future. |