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CONSULTING AGREEMENT

Consulting Services Agreement

CONSULTING AGREEMENT | Document Parties: AMACORE GROUP, INC. You are currently viewing:
This Consulting Services Agreement involves

AMACORE GROUP, INC.

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Title: CONSULTING AGREEMENT
Governing Law: Delaware     Date: 3/31/2009
Industry: Advertising     Sector: Services

CONSULTING AGREEMENT, Parties: amacore group  inc.
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Exhibit 10.13

EXECUTION COPY

 

CONSULTING AGREEMENT

 

This CONSULTING AGREEMENT (this "Agreement") is made effective as of the 25th day of August, 2008 (the "Effective Date"), by and between The Amacore Group, Inc., a Delaware Corporation (the "Company"), and Giuseppe Crisafi, an individual resident living in London, United Kingdom (the "Consultant").

 

RECITALS:

 

WHEREAS, the Company desires to engage the Consultant to perform the consulting services as more fully set forth herein; and

 

WHEREAS, the Consultant desires to be engaged by the Company on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the Recitals and of the mutual promises and covenants set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed as follows:

 

1.             Engagement. The Company hereby engages the Consultant to perform the Services (as defined herein) and the Consultant hereby accepts such engagement with the Company in accordance with the terms and conditions set forth in this Agreement. The Consultant shall devote such time and attention to the Services as are reasonably necessary to perform such Services, but the Company acknowledges that this Agreement is not exclusive and that Consultant can provide non-competing services to other entities or on his own behalf.

 

2.             Services. The Consultant shall provide on a non-exclusive basis to the Company management, business, operational, financial, accounting, and other consulting services from time to time as may be requested by the Company or its agents or representatives (the "Services").

 

3.       Consulting Fee. In consideration for performing the Services for the Company, the Company shall pay the Consultant as follows:

 

(a)           upon execution of this Agreement, the Company shall issue to the Consultant a one-time grant of 500,000 shares of the Company's Class A Common Stock, which grant shall be subject to Rule 144 under the Securities Act of 1933; and

 

(b)           for the term of this Agreement, a fee paid at an annual rate of Three Hundred Ninety Thousand Seven Hundred Fifty Dollars ($390,750), which fee shall be payable in equal installments in accordance with the Company's customary payroll practices. All late payments will incur an interest charge at the rate of 5% per annum from the due date through the date of payment.

 

 

 


 

 

 

EXECUTION COPY

 

4.       Other Consulting Arrangements.

 

(a)            Health and Dental Benefits. The Company hereby agrees that, for the term of this Agreement, it shall reimburse the Consultant for health and dental insurance, which reimbursement amount is included in the amount of the fee payable under Section 3 hereof. The Consultant acknowledges and agrees that he has received information regarding his right to elect continuation of his group health and dental insurance coverage under federal law ("COBRA"), which if elected may allow him to continue that insurance coverage for up to an eighteen (18)- month period after his separation. If the Consultant wishes to elect COBRA coverage, the Consultant agrees that he shall be responsible for the full COBRA premium.

 

(b)            Expense Reimbursement. Provided that the Consultant has obtained the prior written authorization by the Company to incur an expense in connection with the provision of Services, the Company shall pay, upon submission of appropriate vouchers and supporting documentation, such authorized expense incurred by the Consultant, in accordance with the Company's usual and ordinary expense reimbursement practices.

 

5.       Term and Termination.

 

(a)            Term. This Agreement shall commence as of the Effective Date and shall continue in full force for a period of six months thereafter (the "Term"), unless earlier terminated as provided herein.

 

(b)            Termination. This Agreement may be terminated prior to expiration of the Term as provided in paragraph 5(a) above, by prior written notice to the other party as follows:

 

(i)              by either party, in the event the other party should breach or fail to perform any of its material obligations hereunder and should fail to remedy such breach or nonperformance within thirty (30) calendar days after receiving written demand therefor. Notwithstanding, the Company may not claim a breach of non-performance based on the number of hours Consultant works or based on requested travel not taken by Consultant;

 

(ii)             by either party, effective immediately, if the other party shall have been convicted of a felony violation or if Consultant is arrested or charged with a crime not instigated by the Company and such arrest or charge negatively effects the business or reputation of ACGI; or

 

(iii)          by the Company, effective immediately, if the Consultant (1) knowingly makes any materially false or untrue statements or representations to the Company herein or in the performance of its obligations hereunder; or (2) engages in gross negligence, willful misconduct or fraud in the performance of the Services hereunder.

 

6.       Return of Materials. Upon termination of this Agreement for any reason, the Consultant shall promptly return to the Company all files, credit cards, keys, instruments, equipment, vehicles, and any other property or materials provided to the Consultant by the Company.

 

 

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EXECUTION COPY

 

7.       Covenant Not to Compete.

 

(a)        Scope of Covenant. The Consultant agrees that, subject to 7(b) herein, during any Term of this Agreement and for a period of one (1) year commencing upon the expiration or termination of the Consultant's engagement hereunder (for any reason whatsoever) (the "Termination Date") the Consultant shall not, directly or indirectly, for himself or on behalf of or in conjunction with any other person, persons, company, partnership, corporation or business of whatever nature, without the prior written consent of the Company:

 

(i)              engage, as an officer, director, shareholder, owner, partner, joint venturer, or in a managerial capacity, whether as an employee, independent contractor, consultant or advisor, or as a sales representative, in any business selling any products or services in direct competition with the Company or any of its subsidiaries anywhere in the United States, its territories or possessions (the "Territory");

 

(ii)              solicit any person who is at the Termination Date, or who was within one (1) year prior to the Termination Date, an employee of the Company or any of its subsidiaries for the purpose or with the intent of enticing such employee away from or out of the employ of the Company or any of its subsidiaries, except Mr. Clark Marcus, Dr. Jerry Katzman and Ms. Sharon Mandel;

 

(iii)             call upon any person or entity which is, at the Termination Date or which has been, within one (1) year prior to Termination Date a customer of the Company or any of its subsidiaries within the Territory for the purpose of soliciting or selling products or services in direct competition with the Company or any of its subsidiaries in its Business within the Territory, where Business is defined as health care products or programs that are being sold by the Company as of the Effective Date; or

 

(iv)             engage in any act intended to cause any customer or potential customer of the Company located in the Territory with whom the Consultant had contact to discontinue, curtail or forego Business with the Company or to do Business with another entity, firm, business or enterprise which is competitive with the Business of the Company or its clients.

 

Provided, however, that nothing in this Section 7(a) shall be construed to preclude the Consultant from acquiring as a passive investment not more than 5% of the capital securities of any business enterprise whether or not engaged in competition with the Company or its subsidiaries, if and to the extent such securities are actively traded on a national securities exchange or in the over-the-counter market in the United States or on any foreign securities exchange.

 

(b)       Target Companies Activities Allows. Notwithstanding Section 7(a), unless the Company by written notice has informed Consultant that the Company has entered into definitive agreement(s) with target compan(y/ies) listed on Schedule A hereto (each a "Target" and collectively, the "Targets"), then at any time after the close of business on  , Consultant can freely conduct any activities related to Target(s) without violating Section 7(a) and without breaching this Agreement. Such activities may include, but are not limited to, conducting due diligence, acquiring an interest, acquiring a controlling interest, meeting with potential investors, raising funds, reviewing potential transactions, and meeting with management from either company. But if Consultant does move forward with any activity resulting in Consultant's directly or indirectly acquiring an interest (greater than 5%) in any Target(s), or becoming an officer, director, shareholder, owner


 
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