Exhibit 10.6
CONSULTING AGREEMENT
This agreement dated this 1st day of July, 2008 (the “Effective Date”), is executed by and between MiddleBrook Pharmaceuticals, Inc., a Delaware corporation (the “Company”), located at 20425 Seneca Meadows Parkway, Germantown, MD 20876, and Dave Becker (the “Consultant”), located in Denton County, Texas (the “Agreement”).
WHEREAS, Equity Group Investments, LLC (“EGI”) and the Company have entered into a Securities Purchase Agreement of even date herewith (the “Purchase Agreement”) pursuant to which the parties thereto have agreed, upon the terms and subject to the conditions set forth therein, that the Company will sell to EGI (i) 30,303,030 shares of the authorized but unissued shares of common stock, $0.01 par value per share, of the Company (the “Common Stock”) and (ii) a warrant to purchase an aggregate of 12,121,212 shares of Common Stock (such transaction known as the “Transaction”);
WHEREAS, the Consultant and the Company have entered into an employment agreement (the “Employment Agreement”) of even date herewith contingent upon the Closing (as defined in the Purchase Agreement) of the Transaction, and effective as of the Closing Date (as defined in the Purchase Agreement) of the Transaction (such effective date of the Employment Agreement referred to herein as the “Commencement Date”);
WHEREAS, the Company desires to obtain consulting services from Consultant commencing on the Effective Date, which the parties intend to be provided pursuant to such terms and conditions as are set forth in this Agreement; and
WHEREAS, based on the nature of the relationship that the parties intend to establish, the Company hereby engages the Consultant as an independent contractor and the Consultant shall hereby provide consulting services on the terms and conditions provided and described in this Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants of the parties as herein contained, the parties hereto agree and contract as follows:
1) | | The term of this Agreement (the “Term”) shall commence on the Effective Date and shall automatically terminate immediately and become null and void upon the earlier to occur of (i) the Commencement Date, (ii) the termination of the Purchase Agreement pursuant to Section 7 thereof, (iii) the Consultant’s cessation of services to the Company provided hereunder, or (iv) a termination of this Agreement pursuant to Paragraph 11. |
2) | | Commencing on the Effective Date, the Consultant shall provide such consulting services with respect to the business of the Company as the Company reasonably requests. The consulting services that may be requested of Consultant shall be of a nature that reflects and is consistent with Consultant’s skills, experience, expertise and services. The Consultant |