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EXHIBIT 10.8
CONTRACT FOR THE ENGINEERING OF A
85' CONSOLIDATED MOTOR YACHT
THIS AGREEMENT (Hereinafter referred to as "AGREEMENT"), is made and entered
into this ____ day of October, 1998, by and between Arthur M. Barbeito &
Associates, Inc., a Florida Corporation (hereinafter refer as Barbeito), whose
office is located at 4967 SW 74 Ct., Miami FL 33155, and Consolidated Marine,
Inc. located at 775-B Taylor Lane, Dania, FL 33004.
WHEREAS, ARTHUR M. BARBEITO & ASSOCIATES, INC. is engaged in the yacht design
and engineering, business; and
WHEREAS, CONSOLIDATED MARINE is a production yacht builder and Barbeito is
willing to enter into this Agreement with Consolidated, in accordance with the
terms, covenants, and conditions hereinafter set forth; and
WHEREAS, BARBEITO AND CONSOLIDATED agree that the purpose of the Agreement is
to foster a furthering relationship between the parties.
NOW, THEREFORE, for the reasons set forth above, and in consideration of the
mutual covenants and promises of the parties hereto, and for separate
consideration and $10.00 (Ten dollars) paid in hand by Consolidated to
Barbeito, Barbeito and Consolidated mutually covenant and agreed with each
other as follows:
1.0 RECITALS. The foregoing recitals are hereby ratified and confirmed as
being true and correct and incorporated herein in all respects.
2.0 DESCRIPTION OF BARBEITO'S SERVICES. Subject to the orders, advice and
direction of Consolidated, Barbeito shall provide the engineering services
described in EXHIBIT A necessary for the construction of an 85' MOTOR
YACHT. Consolidated will receive three copies and DXF.files for all the
drawings.
3.0 PLACE OF RENDERING SERVICES. Barbeito shall use its office space located
at 4967 SW 74 Ct., Miami, FL 33155 to render the services to be performed
hereunder.
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4.0 DESCRIPTION OF CONSOLIDATED'S OBLIGATIONS. Consolidated will discuss all
preferences and requirements prior to the commencement of the engineering work.
All drawings will be approved and signed off by Consolidated within two days of
the delivery of the drawings. A signed copy will be returned to Barbeito. Any
changes to the drawings, after the drawings have been approved by Consolidated,
will be billed at $50.00 (Fifty dollars) per hour. Consolidated will advise
Barbeito of any inaccuracies for correction. All deviations from the drawings
are to be communicated to Barbeito.
5.0 PAYMENT FOR SERVICES AND EXPENSES.
5.1 Barbeito shall be paid by Consolidated the amount of $150,000.00 (One
hundred fifty thousand dollars) for the services to be performed
hereunder EXHIBIT A, subject to the payment schedule EXHIBIT A and the
terms and conditions set forth herein. All payments will be due 30
days from the billing date. EXHIBIT A is divided into 10 sections.
Consolidated will instruct Barbeito when to start each section.
The terms and conditions of each section are as follows 50% upon
commencement and 50% when the work is completed.
5.2 Some sections of EXHIBIT A may vary in scope. Some may require the
deletion of certain drawings, or certain drawings may need to be
added. The contract amount will be adjusted as required. It should
be keep in mind that this contract is for the scope of work described
in EXHIBIT A and that this clause is to provide flexibility to the
scope of work.
5.3 If travel shall be required by Barbeito to work on the project
hereunder, Barbeito will provide Consolidated with a budget, prior
to travel, detailing the expenses involved. Barbeito will be
reimbursed by Consolidated for the expenses incurred and cost of
travel within a period of five days. Travel to the Consolidated
Marine, Dania facility, is not considered travel.
6.0 MANNER OF PERFORMANCE. Barbeito shall at all times, faithfully,
industriously, and to the best of it's ability, experience and talents, render
all the services that may be required of and from it pursuant to the express
and implicit terms.
7.0 NONDISCLOSURE OF INFORMATION. Barbeito acknowledges that all of
Consolidated's products, suppliers, processes, information, advertising, trade
secrets, records, marketing information, techniques and all other information
related to Consolidated's business, are of proprietary interest to
Consolidated. Barbeito agrees that all such trade secrets are the permanent
proprietary property of Consolidated and as such
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will not be copied or disseminated in any manner without the written consent of
Consolidated. Consolidated acknowledges that all of Barbeito's drawings or
calculations are trade secrets and as such will not be given to third parties
without a written consent from Barbeito.
8.0 TERMS. This written Agreement contains the sole and entire
agreements between the parties hereto and supersedes any and all other
agreements, discussions, or conversations. Therefore, the parties have
voluntarily entered into this Agreement with full knowledge, understanding and
comprehension.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals on the
day and year or first above written.
WITNESSES:
ARTHUR M. BARBEITO & ASSOCIATES, INC.
- ------------------------------------ By:
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Print Name: Arthur M. Barbeito
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(Corporate seal)
CONSOLIDATED MARINE, INC.
- ------------------------------------ By:
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Print Name: Print Name:
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(Corporate seal)
ACCEPTED BY: REVENGE MARINE, INC.
By:
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Print Name:
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