Sample Business Contracts
Service Agreement - Lipid Sciences inc. and H. Bryan Brewer Jr.
Consulting Forms
SERVICE AGREEMENT With H. Bryan Brewer, Jr. | ||
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This Agreement is effective as of the date last subscribed below (Effective Date) and is between H. Bryan Brewer, Jr., an individual having an address 11410 River Road, Potomac, MD 20854 (hereinafter referred to as Consultant) and Lipid Sciences, Inc., a Delaware Corporation, having an address at 7068 Koll Center Parkway, Suite 401, Pleasanton, California 94566 (hereinafter referred to as LSI).
Whereas LSI desires to have Consultant act as general consultant to provide services to LSI, and Consultant desires to act as such a consultant to LSI, Consultant and LSI agree as follows:
1. | SERVICES Consultant shall provide labor services to LSI. These services will be performed at the offices of the Consultant and such other locations as reasonably specified and requested by LSI. Consultant shall provide advisory services to LSI in the field of plasma delipidation, a process that removes lipids from proteins and other targets of therapeutic interest in plasma or other media. The scope and duration of this agreement may be changed or extended by mutual agreement of LSI and Consultant. | |||
2. | TERM The term of this agreement shall commence on September 18th, 2003 and expire on September 17, 2004. Either party may terminate this agreement, at any time during the term of the service relationship with or without cause and with or without explanation. | |||
3. | COMPENSATION/REIMBURSEMENT LSI shall pay Consultant at a rate of One Hundred Twenty-Five Thousand Dollars ($125,000) annually, payable monthly together with a Non-Qualified Stock Option Award as specified in the 2001 Performance Equity Plan Non-Qualified Stock Option Agreement attached. Consultant understands that Consultant, as a separate business entity, is not eligible for and shall not be entitled to receive any LSI employee benefits, including medical coverage, workers compensation insurance, disability insurance, unemployment benefits, or other similar benefits or other insurance protection LSI provides to its employees. Consultant further acknowledges that s/he is responsible for obtaining any workers compensation or general liability insurance as may be required or appropriate in connection with Consultants status as a business entity. | |||
LSI shall reimburse Consultant for reasonable and necessary travel expenses (excluding travel time) to such places as Consultant may travel in the performance of such services, Consultant shall provide an itemized expense statement for such expenses no later than the last day of each monthly period. Such itemized expense statements shall be forwarded to the attention of the President and CEO, Lipid Sciences, Inc., at the aforementioned address. Reimbursement of such expenses shall be in accordance with LSIs policy regarding travel expenses. | ||||
4. | TAXES Consultant acknowledges and agrees that, if Consultant is an independent contractor/sole proprietor, it shall be Consultants sole obligation to report as self-employment income all compensation for services received by Consultant from LSI. If Consultant is a corporation or partnership, Consultant acknowledges and agrees that Consultant shall compensate all employees via a W-2 for services received by Consultant from LSI. Consultant agrees to indemnify LSI and hold LSI harmless to the extent of any obligations imposed by law on LSI to pay any withholding taxes, social security, unemployment or disability insurance, or similar items in connection with any payments made to Consultant by LSI for Consultants services. |
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