You are here: Agreements > Consulting Services Agreement > CONSULTING AGREEMENT

Try our advanced search >>
CLAUSES Search Contract Clauses >>
Browse Contract Clause Library>>

Consulting Agreement

Consulting Services Agreement

Legal Documents
You are currently viewing:

 This Consulting Services Agreement involves


. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.

Date: 11/23/2009

join now
50 of the Top 250 law firms use our Products every day

                                                                    Exhibit 10.3

                              CONSULTING AGREEMENT

THIS is dated for reference the 15th day of November, 2009.


               VERIFY SMART CORP.,  a body corporate with offices at Fort Legend
               Towers, Suite 2002 - 3rd Avenue corner 31st Street E-Square, Fort
               Bonifacio Global City, Taguig Metro Manila, Philippines

               (the "Company")


               INTENTIONAL  AND PURPOSEFUL  LIVING,  with an address at Unit 61,
               18983 - 72A Avenue, Surrey, B.C. V4N 1A5

               (the "Contractor")

A. The  Company  desires  to retain the  Contractor  to  provide  services  (the
"SERVICES") as director as detailed in Schedule A attached hereto, in regards to
the Company's management and operations, and

B. The Contractor has agreed to provide the Services to the Company on the terms
and conditions of this Agreement.

     NOW THEREFORE THIS AGREEMENT  WITNESSES that in consideration of the mutual
covenants  and  promises  set  forth  herein,  and for other  good and  valuable
consideration,  the receipt and  sufficiency of which is hereby  acknowledged by
each, the parties hereto agree as follows:

                                    ARTICLE 1

1.1  Appointment  of Contractor.  The Company hereby  appoints the Contractor to
perform the  Services for the benefit of the Company as  hereinafter  set forth,
and the Company  hereby  authorizes  the  Contractor  to exercise such powers as
provided under this Agreement.  The Contractor  accepts such  appointment on the
terms and conditions herein set forth.

1.2 Performance of Services. The Services hereunder have been and shall continue
to be provided on the basis of the following terms and conditions:

     (a)  the Contractor shall report directly to an Officer and/or President of
          the Company;

     (b)  the Contractor  shall  faithfully,  honestly and diligently  serve the
          Company  and   cooperate   with  the   Company  and  utilize   maximum
          professional  skill  and care to  ensure  that all  services  rendered
          hereunder,  including the  Services,  are to the  satisfaction  of the
          Company, acting reasonably, and the Contractor shall provide any other
          services not specifically mentioned herein, but which by reason of the
          Contractor's  capability the  Contractor  knows or ought to know to be
          necessary  to  ensure  that  the best  interests  of the  Company  are
          maintained; and

     (c)  the  Company  shall  report  the  results of the  Contractor's  duties
          hereunder as may be requested by the Company from time to time.

1.3 Authority of Contractor.  The  Contractor  shall have no right or authority,
express or implied,  to commit or  otherwise  obligate the Company in any manner
whatsoever  except to the extent  specifically  provided  herein or specifically
authorized in writing by the Company.

1.4 Independent Contractor.  In performing the Services, the Contractor shall be
an independent  contractor  and not an employee or agent of the Company,  except
that the Contractor  shall be the agent of the Company  solely in  circumstances
where the Contractor must be the agent to carry out its obligations as set forth
in this  Agreement.  Nothing in this  Agreement  shall be deemed to require  the
Contractor to provide the Services exclusively to the Company and the Contractor
hereby  acknowledges  that the Company is not required and shall not be required
to make any  remittances  and  payments  required of employers by statute on the
Contractor's  behalf  and  the  Contractor  or any of its  agents  shall  not be
entitled to the fringe benefits provided by the Company to its employees.

                                    ARTICLE 2
                             CONTRACTOR'S AGREEMENTS

2.1 Regulatory  Compliance.  The Contractor agrees to comply with all applicable
securities  legislation  and  regulatory  policies in relation to providing  the
Services,  including  but not  limited  to  United  States  securities  laws (in
particular,  Regulation FD) and the policies of the United States Securities and
Exchange Commission.

2.2 Prohibition Against Insider Trading. The Contractor hereby acknowledges that
the  Contractor is aware,  and further  agrees that the  Contractor  will advise
those of its  directors,  officers,  employees and agents who may have access to
Confidential Information, that United States securities laws prohibit any person
who has  material,  non-public  information  about a company from  purchasing or
selling  securities of such a company or from  communicating such information to
any other person under circumstances in which it is reasonably  foreseeable that
such person is likely to purchase or sell such securities.

                                    ARTICLE 3
                              COMPANY'S AGREEMENTS

3.1  Compensation  Shares.  The compensation for the agreeing to enter into this
agreement and provide the Services shall be payable in 50,000  restricted shares
of the Company's common stock (the "Compensation Shares").

3.2 Voting of  Compensation  Shares.  The Contractor  covenants and agrees that,
with respect to the Compensation Shares that it receives, it shall, at all times
that it is the beneficial owner of such shares,  vote such shares on all matters
coming  before it as a  stockholder  of the  Company  in the same  manner as the
majority of the board of directors of the Company shall recommend.

3.3  Information.  Subject  to the terms of this  Agreement,  including  without
limitation  Article 5 hereof,  and provided that the  Contractor  agrees that it
will not disclose any material  non-public  information to any person or entity,

the Company shall make available to the Contractor such information and data and
shall permit the  Contractor to have access to such  documents as are reasonably
necessary to enable it to perform the Services under this Agreement. The Company
also agrees that it will act  reasonably  and  promptly in  reviewing  materials
submitted to it from time to time by the Contractor and inform the Contractor of
any material inaccuracies or omissions in such materials.

                                    ARTICLE 4

4.1 Effective Date. This Agreement shall become effective as of the date written
above (the "Effective Date"), and shall continue for a period of six months (the
"Term") or until earlier terminated pursuant to the terms of this Agreement.

4.2 Termination.  Without prejudicing any other rights that the Company may have
hereunder  or at law or in equity,  the Company  may  terminate  this  Agreement
immediately upon delivery of written notice to the Contractor if:

     (a)  the Contractor breaches section 0 of this Agreement;

     (b)  the Contractor  breaches any other material term of this Agreement and
          such breach is not cured to the reasonable satisfaction of the Company
          within thirty (30) days after written notice  describing the breach in
          reasonable detail is delivered to the Contractor;

     (c)  the Company  acting  reasonably  determines  that the  Contractor  has
          acted,  is acting or is likely to act in a manner  detrimental  to the
          Company or has violated or is likely to violate the confidentiality of
          any information as provided for in this Agreement;

     (d)  the  Contractor  is unable or unwilling to perform the Services  under
          this Agreement, or

     (e)  the  Contractor  commits fraud,  serious  neglect or misconduct in the
          discharge of the Services.

4.3 Duties Upon Termination.  Upon termination of this Agreement for any reason,
the Contractor  shall upon receipt of all sums due and owing,  promptly  deliver
the following in accordance with the directions of the Company:

     (a)  a final  accounting,  reflecting  the balance of expenses  incurred on
          behalf of the Company as of the date of termination; and

     (b)  all documents  pertaining to the Company or this Agreement,  including
          but  not  limited  to,  all  books  of  account,   correspondence  and
          contracts,  provided that the Contractor shall be entitled  thereafter
          to inspect, examine and copy all of the documents which it delivers in
          accordance with this provision at all reasonable  times upon three (3)
          days' notice to the Company.

4.4  Compensation  of  Contractor  on  Termination.  Upon  termination  of  this
Agreement,  the  Contractor  shall be  entitled  to receive as its full and sole
compensation in discharge of obligations of the Company to the Contractor  under
this  Agreement  all sums due and payable  under this  Agreement  to the date of
termination  and the  Contractor  shall  have no right to  receive  any  further
payments;  provided,  however,  that the Company  shall have the right to offset
against any payment owing to the  Contractor  under this  Agreement any damages,
liabilities,  costs or expenses  suffered by the Company by reason of the fraud,

negligence  or wilful act of the  Contractor,  to the extent  such right has not
been waived by the Company.

                                    ARTICLE 5

5.1 Maintenance of Confidential Information. The Contractor acknowledges that in
the course of its appointment  hereunder the Contractor will, either directly or
indirectly,  have access to and be entrusted  with  information  (whether  oral,
written or by inspection) relating to the Company or its respective  affiliates,
associates or customers (the  "Confidential  Information").  For the purposes of
this Agreement, "Confidential Information" includes, without limitation, any and
all Developments (as defined herein),  trade secrets,  inventions,  innovations,
techniques,   processes,   formulas,   drawings,   designs,  products,  systems,
creations, improvements, documentation, data, specifications, technical reports,
customer lists,  supplier lists,  distributor lists,  distribution  channels and
methods,  retailer  lists,  reseller  lists,  employee  information,   financial
information,  sales or marketing  plans,  competitive  analysis  reports and any
other thing or information whatsoever,  whether copyrightable or uncopyrightable
or patentable or unpatentable. The Contractor acknowledges that the Confidential
Information  constitutes a proprietary  right,  which the Company is entitled to
protect.  Accordingly  the Contractor  covenants and agrees that during the Term
and  thereafter  until  such time as all the  Confidential  Information  becomes
publicly known and made generally available through no action or inaction of the
Contractor,  the  Contractor  will keep in strict  confidence  the  Confidential
Information and shall not,  without prior written consent of the Company in each
instance,  disclose, use or otherwise disseminate the Confidential  Information,
directly or indirectly, to any third party.

5.2  Exceptions.  The  general  prohibition  contained  in Section 0 against the
unauthorized  disclosure,  use or dissemination of the Confidential  Information
shall not apply in respect of any Confidential Information that:

     (a)  is available to the public generally in the form disclosed;

     (b)  becomes part of the public domain through no fault of the Contractor;

     (c)  is already in the lawful  possession of the  Contractor at the time of
          receipt of the Confidential Information; or

     (d)  is compelled by  applicable  law to be  disclosed,  provided  that the
          Contractor gives the Company prompt written notice of such requirement
          prior to such disclosure and provides assistance in obtaining an order
          protecting the Confidential Information from public disclosure.

5.3  Developments.  Any  information,  data,  work product or any other thing or
documentation   whatsoever  which  the  Contractor,   either  by  itself  or  in
conjunction  with any third  party,  conceives,  makes,  develops,  acquires  or
acquires  knowledge of during the  Contractor's  appointment with the Company or
which the Contractor,  either by itself or in conjunction  with any third party,
shall conceive, make, develop, acquire or acquire knowledge of (collectively the
"Developments")  during  the Term or at any time  thereafter  during  which  the
Contractor  is engaged by the  Company  that is related to the  business  of the
Company shall automatically form part of the Confidential  Information and shall
become and remain the sole and exclusive  property of the Company.  Accordingly,
the Contractor  does hereby  irrevocably,  exclusively  and  absolutely  assign,
transfer and convey to the Company in perpetuity all worldwide right,  title and
interest  in and to any and all  Developments  and other  rights  of  whatsoever
nature  and kind in or  arising  from or  pertaining  to all  such  Developments
created or  produced  by the  Contractor  during the course of  performing  this

Agreement,  including,  without limitation, the right to effect any registration
in the world to protect the foregoing  rights.  The Company shall have the sole,
absolute and unlimited  right  throughout the world,  therefore,  to protect the
Developments by patent, copyright, industrial design, trademark or otherwise and
to make,  have made,  use,  reconstruct,  repair,  modify,  reproduce,  publish,
distribute  and sell the  Developments,  in whole  or in part,  or  combine  the
Developments  with any other matter,  or not use the Developments at all, as the
Company sees fit.

5.4  Protection of  Developments.  The Contractor  does hereby agree that,  both
before and after the termination of this Agreement, the Contractor shall perform
such further acts and execute and deliver  such further  instruments,  writings,
documents and assurances  (including,  without limitation,  specific assignments
and other  documentation which may be required anywhere in the world to register
evidence of ownership  of the rights  assigned  pursuant  hereto) as the Company
shall  reasonably  require in order to give full  effect to the true  intent and
purpose of the assignment made under Section 0 hereof. If the Company is for any
reason unable, after reasonable effort, to secure execution by the Contractor on
documents  needed to effect any  registration  or to apply for or prosecute  any
right  or  protection  relating  to  the  Developments,  the  Contractor  hereby
designates and appoints the Company and its duly authorized  officers and agents
as the Contractor's agent and attorney to act for and in the Contractor's behalf
and  stead to  execute  and file any such  document  and do all  other  lawfully
permitted  acts  necessary  or advisable in the opinion of the Company to effect
such  registration  or to apply for or prosecute such right or protection,  with
the same legal force and effect as if executed by the Contractor.

5.5  Remedies.  The parties to this  Agreement  recognize  that any violation or
threatened  violation by the  Contractor of any of the  provisions  contained in
this 0 will result in immediate and  irreparable  damage to the Company and that
the Company  could not  adequately  be  compensated  for such damage by monetary
award alone.  Accordingly,  the Contractor  agrees that in the event of any such
violation or threatened  violation,  the Company shall, in addition to any other
remedies  available to the Company at law or in equity,  be entitled as a matter
of right to apply to such  relief  by way of  restraining  order,  temporary  or
permanent  injunction  and to  such  other  relief  as any  court  of  competent
jurisdiction may deem just and proper.

5.6 Reasonable Restrictions. The Contractor agrees that all restrictions in this
0 are reasonable and valid, and all defences to the strict  enforcement  thereof
by the Company are hereby waived by the Contractor.

                                    ARTICLE 6
                              DEVOTION TO CONTRACT

6.1  Devotion to Contract.  During the term of this  Agreement,  the  Contractor
shall  devote  sufficient  time,  attention,  and ability to the business of the
Company,  and to any  associated  company,  as is  reasonably  necessary for the
proper performance of the Services pursuant to this Agreement. Nothing contained
herein shall be deemed to require the  Contractor to devote its exclusive  time,
attention  and ability to the business of the  Company.  During the term of this
Agreement,  the Contractor shall, and shall cause each of its agents assigned to
performance of the Services on behalf of the Contractor, to:

     (a)  at all times perform the Services faithfully,  diligently, to the best
          of its abilities and in the best interests of the Company;

     (b)  devote such of its time,  labour and  attention to the business of the
          Company as is  necessary  for the proper  performance  of the Services
          hereunder; and

     (c)  refrain  fr 

continue to document