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Consulting and Marketing License Agreement

 

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Title:

Consulting and Marketing License Agreement

Entities:

SportsNuts, Inc.

Date:

2001

Size:

Preview shows 6KB of 24KB total

Price:

$40

ID:

#1234509

 

 

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<SEQUENCE>4

<FILENAME>file004.txt
<DESCRIPTION>MARK NEUHAUS AGREEMENT
<TEXT>


<PAGE>



CONSULTING AND MARKETING LICENSE AGREEMENT

THIS CONSULTING AND MARKETING LICENSE AGREEMENT (this
"Agreement") is between Mark Neuhaus and or assigns (the "Consultant") and the
other party named on the signature page of this Agreement (the "Company"). Each
of the Consultant and the Company are also referred to in this Agreement as the
"Parties."

WHEREAS, the Company intends to develop a market for the Company's
products and services offered from time to time by the Company (the "Products
and Services") for potential customers of the Products and Services who are
racing car enthusiasts; and

WHEREAS, the Consultant is a professional race car driver with name
recognition in the racing car industry; and

WHEREAS, the Company desires to utilize the services of the Consultant
to promote and develop a market for the Company's Products and Services; and

WHEREAS, in connection with the services to be provided by the
Consultant pursuant to this Agreement, the Company desires to grant the
Consultant a non-exclusive license for the limited use of the Company's
tradename, trademark or logo, or any other tradename, trademark or logo of the
Company, as may be agreed upon by the Parties (the "Licensed Trademarks").

NOW, THEREFORE, in consideration of the premises and mutual covenants
set forth in this Agreement, the Parties hereby agree as follows:

1. Scope of Services. The Company hereby retains the Consultant
to promote and develop a market for the Products and Services.

2. Term. This Agreement shall become effective as of the date
set forth on the signature page of this Agreement, and shall continue for a
period of one (1) year (the "Term").

3. Grant of Non-exclusive License. Subject to the terms of this
Agreement, the Company hereby grants to the Consultant, and the Consultant
hereby accepts, the non-exclusive license to use the Licensed Trademarks on the
Consultant's racing cars, and on the Consultants racing equipment and clothing,
which shall be owned by the Consultant and shall be operated by the Consultant
in professional racing car competitions at the sole of discretion of the
Consultant. The Company shall supply all camera ready artwork either on disc or
via e-mail.

(a) During the Term of this Agreement the Consultant shall not
negotiate or enter into any license, sub-license agreement of
sub-contract or similar agreement with any third parties in respect of
the Licensed Trademarks, or any right or interest granted by the
Company to the Consultant pursuant to this Agreement, and the
Consultant shall further refrain from directly or indirectly, on his
own behalf, licensing, sub-licensing or sub-contracting the Licensed
Trademarks, or other right or interest granted by the Company to the
Consultant to such third parties other than the operating company that
manages the race cars without the Company's prior written consent.

1

<PAGE>



(b) No license or right is granted by the Company to the
Consultant, either expressly or by implication, under any licenses or
rights owned or controlled by the Company, or except as expressly set
forth in this Agreement.

(c) The license granted pursuant to this Agreement shall
expire simultaneously with the Term of this Agreement, and shall be
revocable at will by the Company upon written notice to the Consultant,
and the Consultant shall immediately refrain from the use of any rights
granted by the Company to the Consultant with respect to this license
upon receipt of such written notice.

4. Compensation; Grant to Stock Option. In consideration for the
services to be provided by the Consultant to the Company under the terms of this
Agreement, the Company agrees to grant to the Consultant upon the execution of
this Agreement a non-qualified stock option (the "Option") to purchase up to the
number of shares (the "Shares") of the Company's common stock (the "Common
Stock") as set forth below which shall fully vest immediately upon execution of
this Agreement, at an exercise price as set forth below:

Number of Shares or Total Dollar Amount: Forty-five Thousand Dollars
($45,000.00)

Exercise Price or Percentage per Share (in US$): Five Cents ($0.05)

The terms of the Option shall otherwise be set forth in a Non-Qualified Stock
Option Agreement between the Company and the Consultant, substantially in the
form attached as Exhibit "A" to this Agreement. The Company agrees to register
the Shares for resale under the Securities Act of 1933, as amended, pursuant to

 

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