CONSULTING
AGREEMENT , dated as
of August 3, 2005 (the “ Effective Date ”), by
and between COMPREHENSIVE HEALTHCARE SOLUTIONS,
INC. , a Delaware corporation (the “ Company
”), and COMPREHENSIVE ASSOCIATES LLC , a New
York limited liability company (the “ Consultant
”).
WHEREAS
, the Company desires to engage the
Consultant and the Consultant desires to be engaged by the Company
upon the terms and conditions set forth herein.
NOW
THEREFORE , for good
and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, and the covenants and agreements set forth
herein, the parties agree as follows:
1.
Retention;
Duties . Subject
to the terms and conditions set forth herein, the Company hereby
retains the Consultant, and the Consultant hereby accepts such
retention, to act as a consultant with respect to the
Company’s business and operations. The Consultant shall
provide such services as shall be reasonably requested by the
President or Chief Executive Officer of the Company. The Consultant
shall devote such time, in its discretion, during regular business
hours, as shall be necessary to perform such requested services,
but in no event shall the Consultant be required to devote more
than five (5) hours per week in performing such services. The
Consultant may provide such services in person or by telephone from
any location which is convenient to it. The Company acknowledges
that the services of the Consultant hereunder are not full-time and
that the Consultant shall have the right to provide services for
other persons and entities during the Consulting Term (as
hereinafter defined).
(a) The term of this Agreement (the “
Consulting Term ”) shall commence as of the Effective
Date, and subject to Section 2(b) below, shall continue until the
first anniversary of the Effective Date.
(b) Notwithstanding Section 2(a) above, the Company
shall have the right to immediately terminate this Agreement at any
time upon written notice to the Consultant. However,
notwithstanding any such termination of this Agreement by the
Company, the Consultant shall be entitled to retain the
compensation provided for herein.
(a) In consideration for the Consultant’s
agreement to provide services hereunder, simultaneously herewith,
the Company is issuing to the Consultant warrants for the purchase
of an aggregate of five million (5,000,000) shares of the
Company’s common stock (the “ Warrants ”),
which Warrants shall be exercisable for a period of five (5) years
commencing on the date of issuance and shall provide for the
following exercise prices, subject to adjustment as provided for in
the Warrants:
|
Warrant Shares
|
Exercise Price
|
|
|
|
|
500,000
|
$0.35 per share
|
|
500,000
|
$0.40 per share
|
|
2,000,000
|
$0.50 per share
|
|
1,000,000
|
$0.60 per share
|
|
1,000,000
|
$0.70 per share
|
(b) The Company acknowledges and agrees that the
Warrants are fully earned upon the execution hereof and the right
to exercise the Warrants shall not be subject to any claim by the
Company that the Consultant did not provide sufficient services, or
improperly provided the services, provided for in Section 1
hereof.
4.
Independent
Contractor . The relationship created hereunder is that of
the Consultant acting as an independent contractor. It is expressly
acknowledged and agreed that the Consultant shall have no authority
to bind the Company to any agreement or obligation with any third
party.
5.
Representations and
Warranties of the Consultant . The Consultant hereby represents and warrants
to the Company as follows:
(a) It has the power to execute and deliver this
Agreement and to perform the duties and responsibilities
contemplated hereby.
(b) Neither the execution of this Agreement nor its
performance hereunder will (i) violate, conflict with or result in
a breach of any provisions of, or constitute a default (or an event
which, with notice or lapse of time or both, would constitute a
default) under the