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Consulting Agreement

 

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Title:

Consulting Agreement

Entities:

Date:

2002

Size:

Preview shows 4KB of 19KB total

Price:

$34

ID:

#866560

 

 

► Fee Agreements ► Consulting Agreements

 

 

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                        PARADIGM MEDICAL INDUSTRIES, INC.


CONSULTING AGREEMENT

This CONSULTING AGREEMENT (the "Agreement") is made and entered into
effective as of this 3rd day of September, 2002, by and between PARADIGM MEDICAL
INDUSTRIES, INC. (the "Company"), a corporation organized under the laws of the
State of Delaware, and MARK R. MIEHLE ("Consultant"), a resident of the State of
Alabama.

WHEREAS, the Company desires to retain Consultant to render such
services and to perform such duties for the Company as Consultant shall
reasonably be asked to perform, and Consultant desires to render such services
and to perform such duties for the Company pursuant to the terms and conditions
contained in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and promises
contained herein, the parties hereto agree as follows:

TERMS OF AGREEMENT

Section 1 - Consultation Services
----------------------------------

1.1 For a period of six (6) months (the "Term") commencing on the date
of this Agreement, Consultant agrees to make himself available from time to time
as requested by the Company to advise and consult with the Company concerning
any and all aspects of the business operations of the Company. Consultant agrees
to provide such services during the Term of this Agreement for not less than
five (5) days during each of the six (6) months of the Term.

1.2 This Agreement shall automatically renew for an additional
successive six (6) month period (the "Renewal Term") unless the Company delivers
to Consultant, at least thirty (30) days prior to the end of the Term of this
Agreement, written notice of the Company's intent not to renew the Agreement.
Consultant agrees to provide services during the Renewal Term of this Agreement
for not less than three (3) days during each month of the Renewal Term.

Section 2 - Consulting Fee
--------------------------

2.1 In consideration of Consultant's consulting services during the
Term of the Agreement, the Company agrees to pay Consultant a consultant fee
(the "Consultant Fee") in the aggregate sum of $30,000. Each monthly installment
of the Consultant Fee during the Term of the Agreement shall be $5,000. Such
Consulting Fee shall be calculated at the rate of $1,000 for each day of
consulting services. However, the Company may, at its sole discretion, agree in
writing with Consultant for additional consulting services to be performed by
Consultant at the rate of $1,000 per day.


1
<PAGE>

2.2 In consideration of Consultant's consulting services during the
Renewal Term of the Agreement, the Company agrees to pay Consultant a Consultant
Fee. Each monthly installment of the Consultant Fee during the Renewal Term of
the Agreement shall be a minimum of $3,000. Such Consultant Fee shall be
calculated at the rate of $1,000 for each day of consulting services.

2.3 The Consultant Fee shall be paid in equal monthly installments with
the first installment due thirty (30) days from the date of this Agreement and
with subsequent monthly installments due on the same day of each month
thereafter during the period the Agreement is in effect.

Section 3 - Termination
-----------------------

3.1 The Company may terminate this Agreement at any time during the
Renewal Term at its sole discretion upon written notice to Consultant, at least
thirty (30) days prior to such termination, of the Company's intent to terminate
the Agreement.

 

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