EX-99.1 2 iiot_8k-ex9901.htm CONSULTING AGREEMENT

Exhibit 99.1

 

CONSULTING AGREEMENT

 

THIS CONSULTING AGREEMENT (the "Agreement") dated this 23rd day of April 2018

 

BETWEEN:

 

IIOT-OXYS, Inc., a Nevada corporation, with offices at of 705 Cambridge Street, Cambridge, Massachusetts, 02141 (the "Client")

 

- AND -

 

Antony Coufal, an individual located at 49 Edgemere Road, Quincy, MA 02169 (the "Consultant").

 

BACKGROUND:

 

A.The Consultant has the necessary qualifications, experience and abilities to provide consulting services to the Client.

 

B.The Consultant is agreeable to providing such consulting services to the Client on the terms and conditions set out in this Agreement.

 

IN CONSIDERATION OF the matters described above and of the mutual benefits and obligations set forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the Client and the Consultant (individually the "Party" and collectively the "Parties" to this Agreement) agree as follows:

 

Services Provided

 

1.The Client hereby agrees to engage the Consultant to provide the Client with the following consulting services (the "Services") as outlined below.

 

·To serve as the Client's Chief Technical Officer with the following responsibilities:
oHelp with day to day technical oversight at the 705 Cambridge Office Location
oHelp develop and maintain product development roadmaps
oHelp develop and maintain Client business plans
oHelp others on Management Team with business development

  o Other duties and responsibilities as mutually agreed upon

 

2.The Services will also include any other consulting tasks which the Parties may mutually agree on. The Consultant hereby agrees to provide such Services to the Client.

 

Term of Agreement

 

3.The term of this Agreement (the "Term") will begin on the date of this Agreement and will remain in full force and effect until the completion of the Services, subject to earlier termination as provided in this Agreement. The Term of this Agreement may be extended with the written consent of the Parties.

 

4.In the event that either Party wishes to terminate this Agreement prior to the completion of the Services, that Party must provide a minimum of 30 calendar days' written notice to the other Party.

 

 

 

 1 

 

 

Performance

 

5.The Parties agree to do everything necessary to ensure that the terms of this Agreement take effect.

 

Currency

 

6.Except as otherwise provided in this Agreement, all monetary amounts referred to in this Agreement are in USD (US Dollars)

 

Compensation

 

7.For the first three months of this Agreement (April 2018, May 2018, and June 2018), the Consultant will charge the Client a monthly fee of $3600 USD payable upon invoicing. After that the Consultant shall charge the Client $6300 USD per month payable upon invoicing.

 

8.Additionally the Consultant shall be eligible to participate in the Client's Stock Incentive Plan according to the following Vesting Schedule:

 

200,000 shares of Common Stock in 2018
400,000 shares of Common Stock in 2019
600,000 shares of Common Stock in 2020

 

The Client shall execute a separate Stock Incentive Plan Agreement with the Consultant and shall promptly deliver shares to the Consultant according to the mutually agreed upon vesting schedule and subject to the terms and conditions of the Stock Incentive Plan as well as any applicable Federal Securities laws.

 

9. Invoices submitted by the Consultant to the Client are payable within 5 business days of receipt.

 

Reimbursement of Expenses

 

10.The Consultant will be reimbursed from time to time for reasonable and necessary expenses incurred by the Consultant in connection with providing the Services.

 

11.All expenses must be pre-approved by the Client.

 

Confidentiality

 

12.Confidential information (the "Confidential Information") refers to any data or information relating to the business of the Client which would reasonably be considered to be proprietary to the Client including, but not limited to, accounting records, business processes, and client records and that is not generally known in the industry of the Client and where the release of that Confidential Information could reasonably be expected to cause harm to the Client.

 

13.The Consultant agrees that they will not disclose, divulge, reveal, report or use, for any purpose, any Confidential Information which the Consultant has obtained, except as authorized by the Client or as required by law. The obligations of confidentiality will apply during the term of this Agreement and will survive indefinitely upon termination of this Agreement.

 

14.All written and oral information and material disclosed or provided by the Client to the Consultant under this Agreement is Confidential Information regardless of whether it was provided before or after the date of this Agreement or how it was provided to the Consultant.

 

 

 

 

 2 

 

 

Ownership of Intellectual Property

 

15.All intellectual property and related material (the "Intellectual Property") that is developed or produced under this Agreement will be the property of the Client.

 

16.Title, copyright, intellectual property rights and distribution rights of the Intellectual Property remain exclusively with the Client.

 

Return of Property

 

17.Upon the expiry or termination of this Agreement, the Consultant will return to the Client any property, documentation, records, or Confidential Information which is the property of the Client.

 

Capacity/Independent Contractor

 

18.In providing the Services under this Agreement it is expressly agreed that the Consultant is acting as an independent contractor and not as an employee. The Consultant and the Client acknowledge that this Agreement does not create a partnership or joint venture between them, and is exclusively a contract for service. The Client is not required to pay, or make any contributions to, any social security, local, state or federal tax, unemployment compensation, workers' compensation, insurance premium, profit-sharing, pension or any other employee benefit for the Consultant during the Term. The Consultant is responsible for paying, and complying with reporting requirements for, all local, state and federal taxes related to payments made to the Consultant under this Agreement.

 

Notice

 

19.All notices, requests, demands or other communications required or permitted by the terms of this Agreement will be given in writing and delivered to the Parties at the following addresses:

 

 a.

IIOT-OXYS, Inc.

705 Cambridge Street, Cambridge, Massachusetts, 02141

 

 b.

Antony Coufal

49 Edgemere Road

Quincy, MA 02169

 

or to such other address as either Party may from time to time notify the other, and will be deemed to be properly delivered (a) immediately upon being served personally, (b) two days after being deposited with the postal service if served by registered or certified mail, or (c) the following day after being deposited with an overnight courier.

 

Indemnification

 

20.Except to the extent paid in settlement from any applicable insurance policies, and to the extent permitted by applicable law, each Party agrees to indemnify and hold harmless the other Party, and its respective directors, shareholders, affiliates, officers, agents, employees, and permitted successors and assigns against any and all claims, losses, damages, liabilities, penalties, punitive damages, expenses, reasonable legal fees and costs of any kind or amount whatsoever, which result from or arise out of any act or omission of the indemnifying party, its respective directors, shareholders, affiliates, officers, agents, employees, and permitted successors and assigns that occurs in connection with this Agreement. In no event does the aggregate liability of either Party under this Section exceed the amount of Compensation paid under this Agreement. This indemnification will survive the termination of this Agreement for a period of one year.

 

 

 

 3 

 

 

Modification of Agreement

 

21. Any amendment or modification of this Agreement or additional obligation assumed by either Party in connection with this Agreement will only be binding if evidenced in writing signed by each Party or an authorized representative of each Party.

 

Time of the Essence

 

22.Time is of the essence in this Agreement. No extension or variation of this Agreement will operate as a waiver of this provision.

 

Assignment

 

23.The Consultant will not voluntarily, or by operation of law, assign or otherwise transfer its obligations under this Agreement without the prior written consent of the Client.

 

Entire Agreement

 

24.It is agreed that there is no representation, warranty, collateral agreement or condition affecting this Agreement except as expressly provided in this Agreement.

 

Enurement

 

25.This Agreement will enure to the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns.

 

Titles/Headings

 

26.Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this Agreement.

 

Gender

 

27.Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.

 

Governing Law

 

28.This Agreement will be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts.

 

Severability

 

29.In the event that any provisions of this Agreement are held to be invalid or unenforceable in whole or in part, all other provisions will nevertheless continue to be valid and enforceable with the invalid or unenforceable parts severed from the remainder of this Agreement.

 

Waiver

 

30.The waiver by either Party of a breach default, delay or omission of any of the provisions of this Agreement by the other Party will not be construed as a waiver of any subsequent breach of the same or other provisions.

 

IN WITNESS WHEREOF the Parties have duly affixed their signatures this 23rd day of April 2018.

 

II0T-OXYS, Inc.

 

By: /s/ Nevan C Hanumara (Seal)
Nevan C Hanumara, CEO

 

 

Consultant

 

 

By: Antony Coufal (Seal)

Anthony Coufal

 

 4