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Consulting Agreement

 

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Title:

Consulting Agreement

Entities:

Life Medical Sciences, Inc.

Date:

2004

Size:

Preview shows 4KB of 25KB total

Price:

$35

ID:

#931991

 

 

► Fee Agreements ► Consulting Agreements
► Healthcare ► Medical Equipment & Supplies

 

 

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<SEQUENCE>3

<FILENAME>v01736_ex10-29.txt
<TEXT>

CONSULTING AGREEMENT

This Consulting Agreement (the "Agreement") made as of April 1, 2001 (the
"Agreement Date"), by and between Life Medical Sciences, Inc., a Delaware
Corporation (the "Company") and Richard L. Franklin, M.D. (the "Consultant"), an
individual whose address is La Dogana, Localita Dogona, Farnese 01010 Italy.

WHEREAS, the Company desires to utilize the skills, experience and
knowledge of the Consultant on a consulting basis, and Consultant is willing to
make his services available for the period and upon and subject to the terms
herein provided; and

WHEREAS, the Consultant has previously assisted the Company in financing
and business activities and is currently serving as a Series A designated member
of the Company's Board of Directors;

NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth and other good and valuable consideration, the receipt,
adequacy and sufficiency of which are hereby acknowledged, the parties hereto
covenant and agree as follows:

1. Retention of Consultant. Subject to the terms and conditions
hereinafter set forth, the Company hereby retains the Consultant, and the
Consultant hereby accepts such retention, to serve as a consultant to the
Company. The Consultant agrees to render advisory and consulting services to the
Company in the areas of strategic planning, business management, fund raising,
investor relations and other areas consistent with the Consultant's experience
and expertise. Specifically, at the designation of the Company's Board of
Directors and the election of the Company's shareholders, the Consultant agrees,
with no additional compensation beyond that stipulated in Section 4 herein, to
serve as a member of the Company's Board of Directors including participation on
such committees of the Board as may be mutually-agreed upon by the Consultant
and the majority of the members of the Company's Board of Directors.

2. Time Commitment: No Conflict. The Consultant will devote such time to
his services under this Agreement as may reasonably be required by the Company.
The Consultant agrees to meet and advise at reasonable times and upon reasonable
prior notice, with the Company's management, agents, employees and other Company
members. The Consultant will arrange to perform the services under this
Agreement in such a manner and at such times that the services will not conflict
with any other agreement, arrangement, understanding, obligation of
confidentiality or employment relationship. The Consultant represents that the
execution of this Agreement and performance of the services hereunder do not and
will not breach any agreement, arrangement, understanding, obligation of
confidentiality or employment relationship to which the Consultant is a party or
by which the Consultant is bound, and during this Agreement, the Consultant will
not enter into any agreement, either written or oral, in conflict herewith.


1
<PAGE>

3. Term. The Consultant's retention shall commence on April 1, 2001 (the
"Retention Date") and the initial term shall be for one year from the Retention
Date (as extended from time to time in accordance with this Section 3, the
"Retention Term"). However, it is understood and agreed by the parties hereto
that (i) absent prior written notice to the Consultant of the Company's intent
to terminate this Agreement, such notice being received by the Consultant at
least three months prior to the intended date of termination or (ii) unless this
Agreement has been earlier terminated in accordance with Section 11, the
Retention Term shall automatically be extended in annual increments as of the
anniversary of the Retention Date.

4. Compensation. In full consideration for the services rendered hereunder
to the Company by the Consultant:

 

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