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Title: |
Contractor Agreement |
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Date: |
2006 |
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Preview shows 5KB of 16KB total |
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Price: |
$35 |
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ID: |
#1331506 |
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CONTRACTOR AGREEMENT
This Agreement (the Agreement) is entered into on the 6th day of February, 2006, by and between Boulder Specialty Brands, Inc. (Company), a Delaware corporation, located at 6106 Sunrise Ranch Drive, Longmont, CO 80503, and Christopher Wolf (Contractor), an individual residing at 536 18th Avenue Northeast, St. Petersburg, FL 33704.
In consideration of the premises and the mutual covenants and agreements herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Services: Subject to the terms and conditions set forth in this Agreement, Contractor agrees to provide certain consulting services (the Services) to Company, including but not limited to financial services and general business advice in order to assist Company in finalizing its Business Combination (as that term is defined in Companys 424(b) Prospectus filing dated December 16, 2005). Company acknowledges that Contractor will have the right during the term hereof to render professional services for third parties.
2. Term: The term of this Agreement shall begin on February 20, 2006 and continue through December 15, 2007, subject, however, to prior termination as set out in paragraph 7 or execution of an employment agreement as set out in paragraph 7. In the event Companys Business Combination is completed prior to December 15, 2007, within sixty (60) days thereafter, Company and Contractor shall enter into a formal employment agreement for a minimum of one (1) year in accordance with the terms set out in paragraph 8 below.
In the event Company has not completed its Business Combination by December 15, 2007, Company may notify Contractor in writing that it intends to extend the Term of this Agreement and upon receipt of such notification, Contractor shall negotiate in good faith with Company for a new agreement governing the continued performance of Services by Contractor. If Company has not completed its Business Combination by December 15, 2007, nothing herein shall bind either party to continue any contractor or employment relationship past December 15, 2007.
3. Compensation and Payment: In exchange for the performance of Services hereunder by Contractor, Company shall pay Contractor at the rate of $150.00 per hour. Contractor shall invoice Company at the end of each calendar month for the hours worked during such month. Company shall pay fifty percent (50%) of such invoice within ten (10) days of receipt. The remaining fifty percent (50%) of the invoice shall be paid within thirty (30) days after completion of Companys Business Combination or based on such other schedule as agreed in writing by the parties. In addition, immediately following completion of Companys Business Combination, Company shall
pay to Contractor a completion bonus, the amount and payment terms of which shall be mutually determined by the parties. Excluding the impact of any completion bonus, the total amount of compensation paid to the Contractor for services provided hereunder shall not exceed $300,000 without the expressed written consent of the Company.
All references to dollars in this Agreement shall be to United States dollars and all payments to be made by Company under this Agreement shall be paid in United States dollars.
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