Exhibit 10.2
BUSINESS CONSULTANT AGREEMENT
THIS
BUSINESS CONSULTANT AGREEMENT (“Agreement”) is entered
into effective November 4, 2008, between DISABOOM, INC., a Colorado
corporation, with its principal offices located at 7730 E.
Belleview Ave., Suite A-306, Greenwood Village, CO 80111 (the
“Company”), and J.W. Roth having an address of 15975
Winding Trail Road, Colorado Springs, CO 80908
(“Roth”). The Company and Roth are referred to herein
as the “Parties.”
WHEREAS,
Roth previously served as the Company’s chief executive
officer and contemporaneously herewith are entering into a
Severance Agreement whereby the Parties have mutually agreed to
terminate Roth’s employment with the Company.
WHEREAS,
Roth will continue to serve as the Company’s chairman of the
board of directors and has agreed to provide certain consulting
services on behalf of the Company.
NOW
THEREFORE, in consideration of the following covenants and promises
and for other valuable consideration as described below, the
Parties hereby agree as follows:
1.
Consulting Services . Roth agrees to provide certain
consulting services for the Company (the “Consulting
Services”) which shall consist of consultations with
management of the Company as management may from time to time
require during the term of this Agreement. Such consultation with
management shall be with respect to public relations, business
promotion, business growth and development, including mergers and
acquisitions, and general business consultation. The
Consulting Services may include services pertaining to promoting
the Company’s relationship with the financial and disabled
communities, the preparation and distribution of reports and news
releases to keep existing shareholders informed about the
Company’s activities, maintaining regular communications with
shareholders, and such other matters as may be agreed upon between
the Company and Roth.
2.
Term of Agreement . The term of this Agreement shall
commence on the date hereof and shall continue unless and until
terminated by either party. Either party may terminate this
Agreement at any time and for any reason by providing the other
party written notice.
3.
Consideration .
3.1.
During the term of this Agreement the Company shall pay Roth cash
compensation as follows:
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(a)
For the months of November and December 2008 Roth shall be paid at
a monthly rate equal to $16,667 per month.
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(b)
From January 1, 2009 until the termination of this Agreement, Roth
shall be paid a monthly rate equal to $5,000 per month, payable on
the 30 th day of the month and payable in full for any
day of the month for which this Agreement is in effect.
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3.2 All payments
due to Roth under section 3.1(a) hereof shall be paid to Roth on or
about the 15 th day and final day of each month, with
half of the monthly consideration being paid on each
date.
3.3 If this
Agreement is terminated by either party the payment due to Roth
under section 3.1(a) hereof for the month in which this Agreement
is terminated shall be paid to Roth on a pro-rata basis based on
the date at which the Agreement is terminated.
3.4
Expenses incurred by Roth in performing services under this
Agreement shall be reimbursed at cost within 30 days of receipt of
an invoice at the offices of the Company. Notwithstanding, all
expenses in excess of $500 shall be approved in writing prior to
Roth incurring any expense for which he intends to be
reimbursed.
4.
Confidentiality of Company Information . Roth agrees at all
times during the term this Agreement and thereafter to hold in
strictest confidence, and not to use, ex