Looking for an agreement? Search from over 1 million agreements now.

Administrative Services Agreement Dated August 31, 2010

This is an actual contract by Medical Care Technologies.

Save time and money with our Premium Packages.
Buy all (8) recommended agreements for
$140.00 (50% savings)
Agreement Preview
Sectors: Metals and Mining
Governing Law: Nevada, View Nevada State Laws
Effective Date: August 31, 2010
Search This Document

ADMINISTRATIVE SERVICES (the "Agreement") dated as of August 31, 2010 between KAREN A. VINCENT, an individual ("VINCENT") and MEDICAL CARE TECHNOLOGIES, INC., a Nevada corporation ("Medical Care").

For good and valuable consideration, the receipt and legal sufficiency of which are hereby expressly acknowledged, the parties hereto agree as follows:

1. Engagement. Upon the terms and subject to the conditions hereof, Medical Care hereby engages VINCENT to provide Medical Care with the Services (as defined in Section 2 hereof), and VINCENT hereby agrees to provide Medical Care with the Services.

2. Administrative and Support Services. During the term hereof, VINCENT agrees to provide the administrative support and services (including accounting, clerical, secretarial and receptionist assistance), and any other administrative services reasonably requested by Medical Care and agreed to by VINCENT (hereinafter referred to as the "Services"). Subject to the provisions of Section 3, VINCENT agrees to provide the Services (i) in good faith, (ii) in a professional and workmanlike manner and (iii) in accordance with the reasonable instructions of Medical Care.

3. Mutual Support and Cooperation.

(a) VINCENT agrees that she will take all steps reasonably necessary, at her own expense:

(i) to designate key individuals to perform her obligations hereunder;

(ii) to conduct periodic meetings of all such key individuals and others as necessary;

(iii) to fully cooperate with all reasonable requests for assistance; and

(iv) to take such further steps and execute such further documents as may be reasonably necessary.

(b) VINCENT will make diligent efforts through respective key individuals to identify the causes of any problems in the Services and to make adjustments, in an equitable fashion, in order to address and resolve such problems, including the substitution or modification of the Services and the corresponding compensation therefor.

4. Fees. As consideration for having performed services to date and for entering into this Agreement, Medical Care shall issue share certificates representing seven hundred five thousand (705,000) shares of free trading common stock (the "Shares"), registered under S-8. The Shares, when issued to VINCENT, will be duly authorized, validly issued and outstanding, fully paid and non-assessable and will not be subject to any liens or encumbrances. Securities shall be issued to VINCENT in accordance with a mutually acceptable plan of issuance as to relieve securities or VINCENT from restrictions upon transferability of shares in compliance with applicable registration provisions or exemptions.

5. Term and Termination.

(a) Except as provided in Section 5(b) hereof, the term of this Agreement shall commence on the date hereof and shall terminate at the close of business on the first anniversary of the date hereof.

(b) Either party may, by delivering written notice thereof to the other party, terminate any or all of its obligations under this Agreement, effective immediately, if the other party hereto:

(i) is rendered bankrupt or becomes insolvent, and such insolvency is not cured within 15 days after written notice, or files a written petition in bankruptcy or an answer admitting the material facts recited in such petition filed by another, or discontinues its business, or has a receiver or other custodian of any kind appointed to administer any substantial amount of its property; or

(ii) commits a material breach of its duties, obligations or understandings under this Agreement, which breach is not cured within 30 days following written notice of such breach from the non breaching party. Any such termination shall be in addition to any other rights or remedies available at law or in equity to the terminating party.

(c) Each party hereto agrees to consult in advance with the other party and to bring to the attention of the other party any problems, differences of opinion, disagreements or any other matters which
-- End of Preview --
Home| About Us| FAQ| Subscription | Contact Us |

Privacy Policy   Terms of Service