BUSINESS
CONSULTANT AGREEMENT
This agreement dated March 22, 2008,
is made By and Between Synthetic Blood, International, Inc., whose
address is 3189 Airway Avenue, Building C, Costa Mesa, CA 92626,
("Company"), AND Dr. Gerald L. Klein, whose address is 3044 Wyntree
Ridge Way, Raleigh, NC 27606 ("Consultant.")
1. Consultation Services.
The company hereby employs the consultant to perform the following
services in accordance with the terms and conditions set forth in
this agreement: The consultant will consult with the officers and
employees of the company concerning matters relating to the
management and organization of the company, their financial
policies, the terms and conditions of employment, and generally any
matter arising out of the business affairs of the company.
2. Terms of Agreement.
This agreement will begin March 22, 2008. Either party may cancel
this agreement on ninety (90) days notice to the other party in
writing, by certified mail or personal delivery.
3. Time Devoted by
Consultant. It is anticipated that the Consultant will spend
approximately six days per month in fulfilling its obligations
under this contract. The particular amount of time may vary from
day to day or week to week. However, the consultant shall devote
sufficient time to its duties in accordance with this
agreement.
4. Place Where Services
Will Be Rendered. The consultant will perform most services in
accordance with this contract at a location of consultant's
discretion. In addition the consultant will perform services on the
telephone and at such other places as necessary to perform these
services in accordance with this agreement.
5. Payment to Consultant.
The consultant will be paid at the rate of $200 per hour, about
$9,000 per month, for work performed in accordance with this
agreement. On or before the 5th of each month, Consultant shall
submit a monthly bill with the number of hours and work performed
for those hours. This work should be that requested by the Company.
In case the Consultant served on a committee of the company, the
Company will substitute a portion of hourly pay with a monthly
retainer for the portion of the committee work. Payment will be by
electronic transfer on, or before
