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Title: |
Consulting Agreement |
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Entities: |
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Date: |
2000 |
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Preview shows 4KB of 17KB total |
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Price: |
$37 |
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ID: |
#1193391 |
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Consulting Agreement
CONSULTING AGREEMENT
This Consulting Agreement (the "Agreement") is made as of December 16,
1999, by and between OmniComm Systems, Inc., a Delaware corporation (hereinafter
referred to as "Company"), and Cees Wit and/or Guus van Kesteren (hereinafter
collectively referred to as "Consultant").
RECITALS:
Whereas, the Company is in the business of developing and implementing
a web-based application for the remote collection, compilation, and management
of clinical trial data and clinical trials ("TrialMasterTM"); and
Whereas, the Consultant has certain expertise in and has established
relationships with companies and institutions involved in conducting clinical
trials; and
Whereas, the Company desires to retain the Consultant, and Consultant
desires to be retained by the Company, upon the following terms and conditions.
Now Therefore, in consideration of the mutual promises and conditions
contained herein, the parties agree to be legally bound as follows:
1. Status of Consultant. The Consultant for purposes of this Agreement
shall be considered an independent consultant. The Company is not responsible
for withholding, and shall not withhold, FICA or taxes of any kind from any
payments that it owes the Consultant. The Consultant shall not be entitled to
receive any benefits which employees of the Company are entitled to receive and
shall not be entitled to workers' compensation, unemployment compensation,
medical insurance, life insurance, paid vacations, paid holidays, pension,
profit sharing, or Social Security on account of their work for the Company.
2. Nature of Consultancy. Consultant shall assist the Company in the
marketing and promotion of TrialMasterTM and shall use his relationships within
the medical device and drug industry to develop sales leads and introductions.
Any introductions developed by Consultant shall be at the level of Director of
Clinical Research, or equivalent position, or at a level immediately below that
position.
3. Efforts of Consultant. While acting as a consultant for the Company,
the Consultant shall devote his best efforts and skill to the performance of his
duties as a Consultant to the Company.
<PAGE>
4. Notification. The Consultant shall notify the Company in writing of
any individuals, companies or institutions that the Consultant has contacted
concerning the TrialMaster(TM) system ("Notified Party"). The written
notification shall contain the name of the company or institution, person
contacted, and a general description of the company's or institution's core
business. Compensation shall be owed only for transactions involving a Notified
Party. If a meeting between the Company and the Notified Party does not take
place within one hundred and twenty (120) days of the Company being notified of
the existence of the Notified Party the individual and company shall cease to be
a Notified Party for all purposes including compensation. The initial Notified
Parties are attached hereto as Exhibit A as if incorporated herein.
5. Compensation. The Consultant shall be paid a commission set forth
below based on the net invoice price of all products and services sold to a
Notified Party. In the event there is recurring revenue from a Notified Party,
the commission paid shall be recalculated as follows:
(a) 1st Year: 20%
(b) 2nd Year: 10%
(c) 3rd Year: 8%
(d) 4th Year: 7.5%
(e) 5th Year: 5%
At the conclusion of the fourth year no further compensation will be due or
owing. Payment shall be due and paid within fifteen (15) days of the end of the
calendar quarter. The Company may, in its sole and absolute discretion, remit
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