Exhibit 10.2
FORM OF CONSULTANCY AGREEMENT
June , 2009
Shmuel Bachar
CEO
4 Hamelacha Street
North Industrial Area
Lod, Israel
Dear Mr. Bachar,
This Agreement, dated as of May
28, 2009 is entered into by and between Future IT (“The
Company”) with offices located at 4 Hamelacha Street Lod,
Israel and Stanley Wunderlich. (the “Consultant”) with
a home address of XXXXXXXXXXXXX and an office address of 880 Third
Avenue 6 th floor New York NY 10022
RECITALS
Whereas, the Consultant has
experience in the investment banking and financial services
business, investor relations, and corporate development
activities,
Whereas, the Consultant desires
to provide the financial advisory services (the
“Services”) set forth in Section 3 hereof to the
Company and the Company desires to retain the Consultant to provide
the Services to the Company.
NOW THEREFORE, in consideration
of the premises and the mutual covenants and agreement hereinafter
set forth, the parties hereto covenant and agree as
follows:
1. Retention. The Company hereby
retains the Consultant, and the Consultant agrees to be retained by
the Company, to perform the Services as a Consultant to the Company
on the terms and conditions set forth herein. The parties agree
that the Consultant shall be retained by the Company as an
independent contractor on a consulting basis and not as an employee
of the Company.
2. Term. The term of this
Agreement shall commence on the date hereof and shall end on
October 31, 2009, unless terminated earlier pursuant to Section 6
hereof.
3. Duties of Consultant. During
the term of this Agreement Consultant shall provide the Company
with such regular and customary consulting advice as is reasonably
requested by the Company, within the scope of the services
enumerated below. It is understood and acknowledged by the parties
that the value of Consultant’s advice is not readily
quantifiable, and that Consultant shall be obligated to render
advice upon the request of the Company, in good faith, but not be
obligated to spend any specific amount of time in so
doing.
4. Compensation. In consideration
for the services rendered by Consultant to the Company pursuant to
this Agreement, the Company shall pay to the Consultant 25,000
restricted shares of Future IT and additional shares as described
in the schedule at the end of this paragraph.. This fee will
include all regular, ongoing routine out of pocket expenses,
including communications (except press releases) mailings, fax
broadcasts, etc. Unusual special requests would be approved in
advance, and paid for by the company i.e. trip to Israel. The
Company agrees to issue restricted shares in accordance with this
schedule.
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A five (5)
month consulting agreement
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