UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date of earliest event reported):
July 31,
2007
WORLDWIDE
STRATEGIES INCORPORATED
(Exact
name of registrant as specified in its charter)
Nevada
(State
or other jurisdiction
of
incorporation)
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333-129398
(Commission
File
Number)
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41-0946897
(IRS
Employer
Identification
No.)
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3801
East Florida Avenue, Suite 400, Denver, Colorado 80210
(Address
of principal executive offices) (Zip Code)
(303)
991-5887
Registrant’s
telephone number, including area code
Not
applicable
(Former
name or former address, if changed since last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
|
¨
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
1.01
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Entry
into a Material Definitive
Agreement
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The
disclosure set forth in Item 2.01 of this report is incorporated herein by
reference.
Item
2.01 Completion
of Acquisition or Disposition of Assets
On
July
31, 2007, Worldwide Strategies Incorporated (“WWSG”) closed the share exchange
(the “Acquisition”) pursuant to the Share Exchange Agreement (the “Agreement”)
that it executed on June 28, 2007 with Centric Rx, Inc., a Nevada corporation
(“Centric”) and Jim Crelia, Jeff Crelia, J. Jireh, Inc., a Nevada Corporation,
and Canada Pharmacy Express, Ltd., a Canadian corporation (the “Centric
Shareholders”). The Agreement was previously filed on Form 8-K on
June 28, 2007 as Exhibit 2.1.
WWSG
acquired 100% of the issued and outstanding shares of Centric in exchange for
2,250,000 post-reverse-split shares of WWSG common stock. WWSG and
Centric filed Articles of Exchange Pursuant to NRS 92A.200 effective July 31,
2007. The Articles of Exchange are furnished herewith as Exhibit 3.1
and are incorporated by reference herein. Centric is now a
wholly-owned subsidiary of WWSG and will operate as a health services and
pharmacy solution provider.
As
a
result of the Acquisition, WWSG acquired a $75,000 debt Centric owes to Canada
Pharmacy Express, Ltd., one of the Centric Shareholders. The debt is
an unsecured, interest free obligation that has no due date. The debt
can be settled for cash or for shares of WWSG common stock.
Effective
July 31, 2007, WWSG filed a Certificate of Change Pursuant to NRS 78.209, which
decreased the number of its authorized shares of common stock from 100,000,000
to 33,333,333 and reduced the number of common shares issued and outstanding
immediately prior to the closing to approximately 5,922,869. The
Certificate of Change is furnished herewith as Exhibit 3.2 and incorporated
by
reference herein. Pursuant to the Certificate of Change, WWSG
shareholders will be deemed to own one share for every three shares of common
stock owned as of the record date of July 30, 2007.
WWSG
issued 2,250,000 post-reverse-split shares of its common stock on July 31,
2007
to the Centric Shareholders and their assigns. The shares were issued
pursuant to Section 4(2) of the Securities Act of 1933 and Rule 506 promulgated
thereunder or Regulation S, as certain shares were issued in “offshore
transactions.”
Centric’s
primary business will be the distribution of health services and prescription
drug discount cards. WWSG plans to contract with call centers to
provide ongoing service and support to organizations and individuals that
utilize these cards. Centric will receive commissions based upon the
utilization of these cards.
Centric
also owns website software that can be used as an electronic
storefront. Using the software, Centric can offer and sell products
and services on a website that can be fulfilled and tracked using the order
fulfillment and tracking components of the software. The website will
be able to provide information regarding locations of medical service providers
that accept the health services and prescription drug discount cards and other
information relevant to the cards. The software can be used to create
individually branded websites for large organizations that wish to offer these
cards to their members.
In
connection with the Acquisition, WWSG entered into an escrow agreement (the
“Escrow Agreement”) whereby one half of the shares that were issued to the
Centric Shareholders pursuant to the Agreement were placed in escrow and,
pursuant to the terms of, will be released to the Centric Shareholders upon
the
expiration of six months from the date of closing. The Escrow
Agreement is furnished herewith as Exhibit 10.1 and is incorporated by reference
herein.
WWSG
also
entered into a lock-up and voting trust agreement (the “Lock-up and Voting Trust
Agreement”) whereby all recipients of WWSG common stock pursuant to the
Agreement have granted an irrevocable proxy to WWSG’s CEO, James Samuels, to
vote the shares WWSG common stock that were issued at the closing for the period
of one year. Also, the recipients of WWSG common stock have agreed
that they will not sell their shares of WWSG common stock for the period of
one
year. The Lock-up and Voting Trust Agreement is furnished herewith as
Exhibit 10.2 and is incorporated by reference herein.
Effective
as of August 1, 2007, WWSG entered into one-year employment agreements with
Jim
Crelia, Jack West, and Peter Longbons (the “Employment
Agreements”). Jim Crelia will serve as President of Centric’s
operations and will report to WWSG’s president and CEO. Jack West and
Peter Longbons will serve as Vice-Presidents of Sales for Centric and will
also
report to WWSG’s president and CEO. The Employment Agreements are
furnished herewith as Exhibit 10.3 through 10.5 and are incorporated by
reference herein.
WWSG
also
entered into assignment of intellectual property and indemnification agreements
(the “Assignment Agreements”) with Centric’s former directors. Under
the Assignment Agreements, all intellectual property associated with Centric’s
business that may have been created by the former directors has been transferred
to WWSG in exchange for indemnification against any claim that may be made
with
respect to the intellectual property. The Assignment Agreements are
furnished herewith as Exhibit 10.6 through 10.9 and are incorporated by
reference herein.
This
summary description of the agreements mentioned above does not purport to be
complete and is qualified in its entirety by reference to the documents that
are
filed as exhibits hereto.
Upon
the
closing of the Acquisition, WWSG’s board of directors increased the board of
directors by one seat and appointed Gregory Kinney, formerly a director of
Centric, to serve as a director of WWSG. Since April 1997 to the
present, Mr. Kinney has served as Vice-President of Operations of Kristel,
LP, a
privately held organization operating in Illinois. Kristel designs
and manufactures LCD and CRT displays. From 1984 to 1997, Mr. Kinney
worked in a variety of positions with The Bradley Group, American Instruments,
Strand Lighting Company, Northrop, and Amistar. Between 1980 and
1984, Mr. Kinney served in the United States Navy. Mr. Kinney has
received a B.A., M.A., and Ph.D. in Clinical Christian Counseling from
International Theological Seminary in Bradenton Florida.
On
August
6, 2007, WWSG issued a press release announcing the closing of the
Acquisition. The press release is furnished herewith as Exhibit 99.1
and is incorporated by reference herein.
Item
2.03
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Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a
Registrant
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The
disclosure set forth in Item 2.01 of this report is incorporated herein by
reference.
Item
3.02 Unregistered
Sales of Equity Securities
The
disclosure set forth in Item 2.01 of this report is incorporated herein by
reference.
Item
5.02
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Departure
of Directors or Principal Officers; Election of Directors; Appointment
of
Principal Officers
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The
disclosure set forth in Item 2.01 of this report is incorporated herein by
reference.
Item
5.03 Amendments
to Articles of Incorporation or Bylaws; Change in Fiscal
Year
The
disclosure set forth in Item 2.01 of this report is incorporated herein by
reference.
As
of
July 31, 2007, the new CUSIP number for the WWSG’s common stock is 98160W 208
and the symbol is “WWSG.”
Item
9.01 Financial
Statements and Exhibits
Regulation
S-B
Number
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Document
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3.1
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Articles
of Exchange Pursuant to NRS 92A.200 effective July 31,
2007
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3.2
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Certificate
of Change Pursuant to NRS 78.209effective July 31, 2007
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10.1
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Escrow
Agreement
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10.2
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Lock-up
and Voting Trust Agreement
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10.3
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Employment
Agreement with Jim Crelia dated August 1, 2007
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10.4
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Employment
Agreement with Jack West dated August 1, 2007
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10.5
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Employment
Agreement with Peter Longbons dated August 1, 2007
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10.6
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Assignment
of Intellectual Property and Indemnification Agreement with Jeff
Crelia
dated July 31, 2007
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10.7
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Assignment
of Intellectual Property and Indemnification Agreement with Gregory
Kinney
dated July 31, 2007
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10.8
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Assignment
of Intellectual Property and Indemnification Agreement with Rick
Brugger
dated July 31, 2007
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10.9
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Assignment
of Intellectual Property and Indemnification Agreement with Todd
Hicks
dated July 31, 2007
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99.1
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Press
Release dated August 6, 2007
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99.2
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Audited
financial statements of Centric Rx, Inc. for the periods ending June
30,
2007, and December 31, 2006 and 2005*
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99.3
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Pro
forma combined financial
statements*
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*to
be
filed by amendment
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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WORLDWIDE
STRATEGIES
INCORPORATED
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August
6,
2007
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By:
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/s/ James
P.R. Samuels
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James
P.R. Samuels
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Chief
Executive Officer
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EXHIBIT
3.1
ARTICLES
OF EXCHANGE PURSUANT TO NRS 92A.200
EFFECTIVE
JULY 31, 2007
EXHIBIT
3.2
CERTIFICATE
OF CHANGE PURSUANT TO NRS 78.209
EFFECTIVE
JULY 31, 2007
EXHIBIT
10.1
ESCROW
AGREEMENT
ESCROW
AGREEMENT
This
Escrow Agreement (this “
Escrow
”) is made and executed by and among
WORLDWIDE STRATEGIES INCORPORATED, a Nevada corporation (“
WWSI
”), CENTRIC
RX, INC., a Nevada corporation (“
CENTRIC
”), and the group consisting of
Jim Crelia, Jeff Crelia, J. Jireh, Inc., a Nevada Corporation, Canada Pharmacy
Express, Ltd., a Canadian corporation, Peter Longbons, and Jack West (the
“
CENTRIC Shareholders
”), and Dill, Dill, Carr, Stonbraker &
Hutchings, P.C., a Colorado professional corporation, (“
Escrow
Agent
”).
1.
Appointment
of Escrow Agent:
WWSI, CENTRIC and the CENTRIC Shareholders
hereby appoint Dill, Dill, Carr, Stonbraker & Hutchings, P.C. as Escrow
Agent to hold and disburse the Items of Escrow described below as herein
instructed:
2.
Items
of Escrow:
The Items of Escrow consist of the following
documents:
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(A)
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Six (6) separate common stock share certificates
of
WWSI issued to the CENTRIC Shareholders for a total of 1,125,000
shares of
WWSI Common Stock, which certificates are referred to hereinafter
as the
“
WWSI Share Certificates
.”
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3.
Escrow
Instructions with Respect to Items of Escrow:
Escrow Agent
shall hold the Items of Escrow until the date six months from Closing, at which
time Escrow Agent shall release to the CENTRIC Shareholders their respective
WWSI Share Certificates.
Upon
performing its duties under this
Section 3, Escrow Agent shall have no further liability to any of the parties
hereunder and this Escrow shall be considered closed.
4.
Limit
of Liability:
Should Escrow Agent, before the close of this
Escrow, receive or become aware of any conflicting demands or claims with
respect to this Escrow or the rights of any of the parties hereto, or to any
of
the Items of Escrow deposited hereunder, Escrow Agent shall have the right
to
discontinue any and all further acts on its part until such conflict is resolved
to its satisfaction, and it shall have the further right to commence or defend
any action or proceedings for the determination of such conflict. The
parties hereto jointly and severally agree to pay all costs, suffered or
incurred by Escrow Agent in connection herewith or arising out of this Escrow
including, but without limitation, a suit in interpleader brought by Escrow
Agent. In the event Escrow Agent files a suit in interpleader, it
shall ipso factor be fully released and discharged from all obligations imposed
upon it in this Escrow upon depositing the Items of Escrow with the court in
which such action is filed.
5.
Conflict
Waiver:
The Escrow Agent has acted as legal counsel for
WWSI, and may continue to act as legal counsel for WWSI, from time to time,
notwithstanding its duties as Escrow Agent hereunder. CENTRIC and the
CENTRIC Shareholders consent to Escrow Agent acting in such capacity as legal
counsel for WWSI and waive any claim that such representation represents a
conflict of interest on the part of Escrow Agent. CENTRIC and the
CENTRIC Shareholders understand that WWSI and Escrow Agent are relying
explicitly on the foregoing provision in entering into this Escrow
Agreement.
DATED
this
___
day of
_________
, 2007.
WORLDWIDE
STRATEGIES INCORPORATED
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CENTRIC
RX, INC.
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By:
/s/
James P.R. Samuels
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By:
/s/
Jim Crelia
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James
P.R.
Samuels, President
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Jim
Crelia, President, CEO and Chairman
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ESCROW
AGENT:
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SHAREHOLDERS:
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DILL
DILL CARR STONBRAKER & HUTCHINGS, P.C.
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JIM
CRELIA
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By:
/s/ Fay M. Matsukage
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By:
/s/ Jim Crelia
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Fay
M. Matsukage
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Authorized
Representative
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JEFF
CRELIA
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/s/
Jeff Crelia
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J.
JIREH, INC.
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/s/
Jeff Henderson
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Authorized
Representative
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CANADA
PHARMACY EXPRESS
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/s/
Rick Brugger
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Authorized
Representative
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PETER
LONGBONS
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/s/
Peter Longbons
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EXHIBIT
10.2
LOCK-UP
AND VOTING TRUST AGREEMENT
LOCK-UP
AND VOTING TRUST AGREEMENT
This
Lock-up and Voting Trust Agreement (this “
Agreement
”) is made and entered
into as of July 31, 2007, by and between Worldwide Strategies Incorporated,
a
Nevada corporation (“
WWSI
”), Centric Rx, Inc., a Nevada corporation
(“
CENTRIC
”), and the group consisting of Jim Crelia, Jeff Crelia, J.
Jireh, Inc., a Nevada Corporation, Canada Pharmacy Express, Ltd., a Canadian
corporation, Peter Longbons, and Jack West (the
“
Shareholders
”).
WWSI, CENTRIC, and
the CENTRIC
Shareholders are sometimes individually referred to as a “Party” and
collectively as the “Parties.”
WHEREAS,
it is a condition to that certain Share Exchange Agreement by and among WWSI,
CENTRIC, and the CENTRIC Shareholders, executed on June 28, 2007 (the “
Share
Exchange
”), that the Parties enter into this Agreement.
NOW,
THEREFORE, in consideration of the foregoing and in consideration of the mutual
promises set forth herein, the sufficiency of which is hereby acknowledged,
the
Parties agree as follows:
1.
Lock-up
. The
CENTRIC Shareholders will not offer to sell, contract to sell, or otherwise
sell, dispose of, loan, pledge or grant any rights with respect to
(collectively, a “
Disposition
”) any WWSI Common Stock, any options or
warrants to purchase any WWSI Common Stock or any securities convertible into
or
exchangeable for WWSI Common Stock (collectively, “
Securities
”) now owned
or hereafter acquired directly by the Shareholders or with respect to which
the
Shareholders have or hereafter acquire the power of disposition, otherwise
than:
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(A)
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as
a bona fide gift or gifts, provided the donee or donees thereof agree
in
writing to be bound by this
restriction,
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(B)
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as
a distribution to partners or shareholders of the Shareholders, provided
that the distributees thereof agree in writing to be bound by the
terms of
this restriction,
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(C)
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with
respect to sales or purchases of WWSI Common Stock acquired on the
open
market, or
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(D)
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with
the prior unanimous written consent of WWSI’s Board of
Directors.
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The
foregoing restrictions will terminate one year after the Closing of the
Acquisition (the “
Lock-Up Period
”).
The
foregoing restriction has been expressly agreed to preclude the holder of the
Securities from engaging in any hedging or other transaction which is designed
to or reasonably expected to lead to or result in a disposition of Securities
during the Lock-Up Period, even if such Securities would be disposed of by
someone other than such holder. Such prohibited hedging or other
transactions would include, without limitation, any short sale (whether or
not
against the box) or any purchase, sale or grant of any right (including, without
limitation, any put or call option) with respect to any Securities or with
respect to any security (other than a broad
based
market basket or index) that included, relates to or derives any significant
part of its value from Securities.
The
CENTRIC Shareholders also agree and consent to the entry of stop transfer
instructions with the WWSI’s transfer agent, without advance notice, and
registrar against the transfer of the WWSI Common Stock or Securities held
by
the CENTRIC Shareholders except in compliance with the foregoing
restrictions.
2.
Grant
of Irrevocable Proxy
. The Shareholders hereby grant to James
P.R. Samuels, as agent of WWSI, with full power of substitution, an irrevocable
proxy to vote all of the shares of WWSI Common Stock held by the Shareholders
which the Shareholders would be entitled to vote at any meeting of WWSI’s
shareholders or by means of a written consent to action, during the Lock-Up
Period.
3.
General
Provisions
.
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(A)
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Notices
. All
notices, requests, demands and other communications required or permitted
to be given hereunder shall be in writing and shall be given personally,
sent by facsimile transmission or sent by prepaid air courier or
certified
or express mail, postage prepaid to the last known address of the
recipient or to such other address or addresses as a Party may have
advised the other. Any such notice shall be deemed to have been
given (a) when received, if delivered in person, sent by facsimile
transmission and confirmed in writing within three (3) business days
thereafter or sent by prepaid air courier or (b) three (3) business
days
following the mailing thereof, if mailed by certified first class
mail,
postage prepaid, return receipt
requested.
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(B)
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Mediation
. The
Parties encourage the prompt and equitable settlement of all disputes,
controversies or claims (a “
Dispute
”) between or among the Parties
and their affiliates including but not limited to those arising out
of or
relating to this Agreement. At any time, either Party can give
the other written notice that it desires to settle a
Dispute.
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Within
10
days of delivery of such notice, the Parties agree to cause their officers
having authority to resolve such differences to meet for two out of four
continuous days (the “
Negotiation Period
”).
If
a
resolution is not achieved during the Negotiation Period, the Parties agree
to
submit their Dispute to a mediator within one week of the conclusion of the
Negotiation Period to work with them to resolve their
differences. Such mediator shall be selected by mutual agreement of
the Parties. The Parties shall participate in the mediation
proceeding in good faith with the intention to settle. The mediation
shall be conducted pursuant to the rules generally used by the mediator in
the
mediator’s practice, which rules may be modified or amended with the written
consent of the Parties. No later than three business days prior to
the mediation, each Party shall deliver to the mediator all information
reasonably
required
for the mediator to understand the Dispute and the issues
presented. The mediation shall be terminated upon the first to occur
of the following: (i) the execution of a settlement agreement resolving the
Dispute by the Parties; (ii) a written declaration of the mediator to the effect
that further efforts at mediation are no longer worthwhile; or (iii) after
the
completion of two full days of mediation, a written statement of the mediator
to
the effect that the mediation proceedings are terminated. No Party
shall sue any other Party hereto in connection with any Dispute, except for
enforcement of the negotiation and mediation process set forth herein, and
the
arbitration provisions set forth in Section 3(C) hereof shall not be applicable,
in each case, prior to termination of the Negotiation Period and of the
mediation as provided above.
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(C)
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Arbitration
. Subject
to the provisions in Section 3(B), any Dispute arising out of, relating
to, or in connection with, this Agreement shall be finally settled
by
binding arbitration. The arbitration shall be conducted and the
arbitrator chosen in accordance with the rule of the American Arbitration
Association in effect at the time of the arbitration, except as they
may
be modified herein or by mutual agreement of the Parties to such
Dispute. In connection with any such arbitration, each Party
shall be afforded the opportunity to conduct discovery in accordance
with
the Federal Rules of Civil
Procedure.
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(1)
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The
seat of the arbitration shall be in Denver, Colorado. WWSI and
the Shareholders hereby irrevocably submit to the jurisdiction of
the
arbitrator in Denver, Colorado, and waive any defense in an arbitration
based upon any claim that such Party is not subject personally to
the
jurisdiction of such arbitrator, that such arbitration is brought
in an
inconvenient format, or that such venue is
improper.
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(2)
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The
arbitral award shall be in writing and shall be final and binding
on each
of the Parties to this Agreement. The award may include an
award of costs, including reasonable attorneys’ fees and
disbursements. Judgment upon the award may be entered by any
court having jurisdiction thereof or having jurisdiction over the
Parties
or their assets. The Parties acknowledge and agree that by
agreeing to these arbitration provisions each of the Parties is waiving
any right that such Party may have to a jury trial with respect to
the
resolution of any dispute under this Agreement or the agreements
or
transactions contemplated hereby
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(D)
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Prior
Agreements
. This Agreement contains the entire
agreement between the Parties and supersedes all prior agreements
entered
into by the Parties relative to the subject matter of this
Agreement.
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(E)
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Applicable
Law
. This Agreement shall be governed by and construed in
accordance with the laws of the State of Nevada. Jurisdiction
over and venue of any suit arising out of or related to this Agreement
shall be exclusively in any state or federal court of the State of
Nevada.
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(F)
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Counterparts
. This
Agreement may be executed by the Parties in separate counterparts,
each of
which when so executed and delivered shall be an original, but all
such
counterparts shall together constitute one and the same
instrument. Each counterpart may consist of a number of copies
hereof each signed by less than all, but together signed by all of
the
Parties.
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(G)
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New
Shareholders
. Nothing in this Agreement shall restrict
WWSI from issuing or selling Securities to third persons on such
terms and
conditions as the WWSI’s Board of Directors deems
appropriate.
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(H)
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Severability
. If
for any reason any portion of this Agreement shall be held to be
invalid
or unenforceable, the holding of invalidity or unenforceability of
that
portion shall not affect any other portion of this Agreement and
the
remaining portions of this Agreement shall remain in full force and
effect.
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(I)
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Counsel
. The
Parties hereto acknowledge that he or she or it is aware of his or
her
right to have independent counsel review this Agreement concerning
his,
her or its rights and obligations under this Agreement prior to their
execution of the Agreement. The Parties represent: (i) that he,
she or it has consulted independent counsel, or by executing this
Agreement, waives their right to consult with an attorney concerning
this
Agreement; and (ii) that the Parties understand the terms of this
Agreement and will be bound by the terms
hereunder.
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(J)
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Defined
Terms
. Unless stated otherwise, capitalized terms
herein shall have the same meaning set forth in the Share Exchange
and the
exhibits thereto.
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[Signature
Page to Follow]
IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the date first
above written.
WORLDWIDE
STRATEGIES INCORPORATED
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CENTRIC
RX, INC.
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By:
/s/
James P.R. Samuels
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By:
/s/
Jim Crelia
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James
P.R.
Samuels, President
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Jim
Crelia, President, CEO and Chairman
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JIM
CRELIA
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By:
/s/ Jim Crelia
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JEFF
CRELIA
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/s/
Jeff Crelia
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J.
JIREH, INC.
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/s/
Jeff Henderson
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Authorized
Representative
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CANADA
PHARMACY EXPRESS
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/s/
Rick Brugger
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Authorized
Representative
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PETER
LONGBONS
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/s/
Peter Longbons
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EXHIBIT
10.3
EMPLOYMENT
AGREEMENT WITH JIM CRELIA
DATED
AUGUST 1, 2007
EMPLOYMENT
AGREEMENT
This
Employment Agreement (this “
Agreement
”) is entered into with an
effective date of employment beginning August 1, 2007 (this “
Effective
Date
”), by and between Centric Rx, Inc., a Nevada corporation
(“
CENTRIC
” or “
Company
”), a wholly-owned
subsidiary of Worldwide Strategies Incorporated, a Nevada corporation
(“
WWSI
”), and Jim Crelia
(“
Employee
”).
For
the
purpose of this Agreement, references to “Company” include all parent,
subsidiary or related entities and their employees, supervisors, officers,
directors, agents, pension or benefit plans, pension or benefit plan sponsors,
fiduciaries, administrators, affiliates and all successors and assigns of any
of
them, as may be determined from the context of the reference.
The
parties agree as follows:
1.
Employment
. Company
hereby employs Employee for the limited term set forth below, and Employee
hereby accepts such employment, upon the terms and conditions set forth
herein.
2.
Duties
.
2.1
Position
. Employee
is employed in the position of President of CENTRIC, and shall have the duties
and responsibilities assigned by the Board of Directors of WWSI (the
“
Board of Directors
”) both upon initial hire and as may be
reasonably assigned from time to time. Employee shall perform
faithfully and diligently all duties assigned to Employee. Employee
acknowledges that Company, under the direction of the Board of Directors, has
the right to modify Employee’s position and duties at any time in its sole and
absolute discretion. Employee shall report to and be supervised by
the President of WWSI. In the absence of the President of WWSI,
Employee shall report to and be supervised by the Board of
Directors.
2.2
Best
Efforts/Full-time
. Employee will expend Employee’s best efforts
on behalf of Company, and will abide by all policies and decisions made by
Company and the Board of Directors, as well as all applicable federal, state
and
local laws, regulations or ordinances. Employee will act in the best
interest of Company at all times. After a ninety (90)-day transition
period, Employee shall devote Employee’s full business time and efforts to the
performance of Employee’s assigned duties for Company, unless Employee notifies
the Board of Directors in advance of Employee’s intent to engage in other paid
work and describes in sufficient detail the nature of such work, and the Board
of Directors grants Employee express written consent to do such
work.
2.3
Work
Location
. Employee’s principal place of work shall be located at
the principal offices of Company, currently located at 8125 Riviera Beach Drive,
Las Vegas, Nevada, 89128, or such other location as the Board of Directors
may
authorize from time to time.
Page 1 of
9
Initials: Employee
_____
Company
_____
3.
Term
.
3.1
Initial
Term
. The employment relationship pursuant to this Agreement
shall be for an initial term commencing on the Effective Date set forth above
and continuing for a period of one (1) year following such date
(“
Initial Term
”), unless sooner terminated in accordance with
section 7 below. Employee agrees and acknowledges that the Initial
Term of the Agreement is a material term to Company, and waives any rights
not
expressly provided for in this Agreement should Company exercise its right
not
to renew this Agreement in accordance with subsection 3.2 at the conclusion
of
the Initial Term.
3.2
Renewal
. On
completion of the Initial Term specified in subsection 3.1 above, this Agreement
will automatically renew for subsequent one (1)-year terms unless either party
provides at least thirty (30) days’ advance written notice to the other that it
does not wish to renew the Agreement for a subsequent one (1)-year
period. In the event either party gives notice of nonrenewal pursuant
to this subsection 3.2, this Agreement will expire at the end of that
term.
4.
Compensation
.
4.1
Base
Salary
. As compensation for Employee’s performance of Employee’s
duties hereunder, Company shall pay Employee a Base Salary of $12,500 per month,
payable in accordance with the normal payroll practices of Company, less
required deductions for state and federal withholding tax, social security
and
all other employment taxes and payroll deductions.
4.2
Annual
Bonus
. Employee will be granted an annual bonus equal to 50% of
Base Salary, so long as individual and Company objectives, as established by
the
Board of Directors in its sole discretion, are achieved, such bonus to be paid
in cash or shares of common stock of WWSI at the date of grant market price,
in
the sole discretion of WWSI.
4.3
Other
Incentive Compensation
. From time to time, in the sole and
absolute discretion of the Board of Directors, Employee may receive other
incentive bonuses based on the achievement of written goals established by
the
Board of Directors and communicated to Employee, paid in cash, stock options,
or
common stock of WWSI.
4.4
Performance
and Salary Review
. Employee’s supervisor, or in the absence of a
supervisor, the Board of Directors, will periodically review Employee’s
performance on no less than an annual basis and will make adjustments to salary
or other compensation in their sole discretion.
5.
Customary
Employee Benefits
. Employee will be eligible for all customary
and usual fringe benefits generally available to other full-time employees
of
Company. Company reserves the right to change or eliminate the fringe
benefits on a prospective basis, at any time, effective upon notice to
Employee. Company will also provide Employee with the right to
participate in Company’s 401(k) program as of the Effective Date.
Page 2 of
9
Initials: Employee
_____
Company
____
5.1
Long-term
Care Health Insurance
. Employee will also be the beneficiary of a
long-term care health insurance policy to be provided by Company.
6.
Business
Expenses
. Employee acknowledges that he owes Company a fiduciary
obligation to minimize, to the extent practicable, expenses incurred in the
course and scope of performing his duties for Company. Employee will
be reimbursed for all reasonable, out-of-pocket business expenses incurred
in
the performance of Employee’s duties on behalf of Company. To obtain
reimbursement, expenses must be submitted promptly with appropriate supporting
documentation in accordance with Company’s policies.
7.
Termination
of Employee’s Employment
.
7.1
Termination
for Cause by Company
. The Board of Directors may terminate
Employee’s employment immediately at any time for Cause. In the event
Employee’s employment is terminated in accordance with this subsection 7.1,
Employee shall be entitled to receive only the Base Salary then in effect,
prorated to the date of termination. All other Company obligations to
Employee pursuant to this Agreement will become automatically terminated and
completely extinguished. If Employee is terminated for Cause pursuant
to this provision, the Company may ask him to leave the Company’s offices
immediately.
For
purposes of this Agreement, “
Cause
” is defined as:
(a)
Employee’s
breach of fiduciary duty to the Company or its Board of Directors;
(b)
Acts
or
omissions constituting negligence, recklessness or willful misconduct on the
part of Employee with respect to Employee’s obligations or otherwise relating to
the business of Company;
(c)
Employee’s
material breach of this Agreement;
(d)
Employee’s
conviction or entry of a plea of nolo contendere for fraud, misappropriation
or
embezzlement, or any felony or crime of moral turpitude;
(e)
Employee’s
willful neglect of duties as determined in the sole and exclusive discretion
of
the Board of Directors;
(f)
Employee’s
failure to perform the essential functions of Employee’s position, with or
without reasonable accommodation, due to a mental or physical disability;
or
(g)
Employee’s
death.
Page 3 of
9
Initials: Employee
_____
Company
_____
7.2
Termination
Without Cause by Company
. Company may terminate Employee’s
employment under this Agreement without Cause at any time by giving at least
thirty (30) days’ advance written notice to Employee. In the event of
a termination pursuant to this subsection 7.2, all other Company obligations
to
Employee will be automatically terminated and completely extinguished and
Employee will be entitled to receive a payment equal to two months of the Base
Salary in effect at the date of termination (“
Severance
Payment
”), provided that Employee:
(a)
Complies
with all surviving provisions of this Agreement as specified in subsection
12.8
below;
(b)
Executes
a full general release, releasing all claims, known or unknown, that Employee
may have against Company arising out of or in any way related to Employee’s
employment or termination of employment with Company; and
(c)
Agrees
to
act as a consultant for Company, without further compensation, for thirty (30)
days following the termination of the employment relationship, if requested
to
do so by Company. The Company may also direct Employee to cease all
work on behalf of Company immediately if it decides to terminate his employment
under this provision as long as it provides Employee with the described
benefits.
Should
Employee fail or refuse to provide the items required under this subsection
7.2,
the termination shall be deemed to be for Cause under subsection
7.1.
7.3
Employee
Resignation for Good Reason
. Employee may voluntarily resign
Employee’s position with Company for Good Reason, at any time by giving at least
thirty (30) days’ advance written notice. In the event of Employee’s
resignation for Good Reason, Employee will be entitled to receive the Base
Salary then in effect, prorated to the date of resignation, and all accrued
paid-time-off, in accordance with Company’s customary employee benefit
policies. All other Company obligations to Employee pursuant to this
Agreement will become automatically terminated and completely
extinguished.
Employee
will be deemed to have resigned for “Good Reason” in the event of Company’s
material breach of this Agreement.
7.4
Employee
Resignation Without Good Reason
. Employee may voluntarily resign
Employee’s position with Company without Good Reason, by giving at least thirty
(30) days’ advance written notice. In the event of Employee’s
resignation without Good Reason, Employee will be entitled to receive only
the
Base Salary for the thirty (30)-day notice period and no other
amount. All other Company obligations to Employee pursuant to this
Agreement will become automatically terminated and completely
extinguished.
Page 4 of
9
Initials: Employee
_____
Company
_____
7.5
Termination
of Employment Upon Nonrenewal
. In the event either party decides
not to renew this Agreement after completion of the Initial Term in accordance
with subsection 3.2 above, this Agreement will expire, Employee’s employment
with Company will terminate and Employee will only be entitled to Employee’s
Base Salary paid through the last day of the current term.
8.
No
Conflict of Interest
. During the term of Employee’s employment
with Company and during any period Employee is receiving payments from Company
pursuant to this Agreement, Employee must not engage in any work, paid or
unpaid, that creates an actual conflict of interest with Company.
9.
Covenant
Not to Compete
. Employee agrees not to, directly or indirectly
competing with Company in any way, or acting as an officer, director, employee,
consultant, stockholder, volunteer, lender, or agent of any business enterprise
of the same nature as, or which is in direct competition with, the business
in
which Company is now engaged or in which Company becomes engaged, as may be
determined by the Board of Directors in its sole discretion, during the term
of
Employee’s employment with Company and for two (2) years after the termination
of employment with Company. If the Board of Directors believes such
competition exists during the term of this Agreement, the Board of Directors
may
ask Employee to choose to discontinue the other work or resign employment with
Company. If the Board of Directors believes such competition exists
during any period in which Employee is receiving payments pursuant to this
Agreement, the Board of Directors may ask Employee to choose to discontinue
the
other work and forfeit any Severance Payment.
10.
Nonsolicitation
. Employee
understands and agrees that Company’s employees and customers and any
information regarding Company’s employees and/or customers is confidential and
constitutes its trade secrets under Colorado law. Employee agrees to
use his best efforts to protect against the intentional or inadvertent
disclosure of such trade secrets to Company’s competitors, customers or vendors,
or to the general public.
10.1
Nonsolicitation
of Customers or Prospects
. Employee agrees that all customers of
Company shall remain customers of Company during the term and after the
termination of this Agreement, and that during the term of this Agreement and
for a period of two (2) years after the termination of this Agreement, Employee
will not, either directly or indirectly, separately or in association with
others, interfere with, impair, disrupt or damage Company’s relationship with
any of its customers or customer prospects by soliciting or encouraging others
to solicit any of them for the purpose of diverting or taking away business
from
Company.
10.2
Nonsolicitation
of Company’s Employees
. Employee agrees that during the term and
after the termination of this Agreement, Employee will not, either directly
or
indirectly, separately or in association with others, interfere with, impair,
disrupt or damage Company’s business by soliciting, encouraging or recruiting
any of Company’s employees or causing others to solicit or encourage any of
Company’s employees to discontinue their employment with Company.
Page 5 of
9
Initials: Employee
_____
Company
_____
11.
Assignment
of Intellectual Property
. Employee hereby transfers and assigns
to Company all trade secrets, inventions, trademarks, service marks, logos,
corporate names, domain names, ideas, processes, customer lists, business plans,
copy rights, other works of authorship, know-how, improvements, discoveries,
developments, refinements, designs and techniques (collectively referred to
as
“
Intellectual Property
”), which Employee made, conceived,
developed or reduced to practice or caused be made, conceived, developed or
reduced to practice prior to the Effective Date or which Employee makes,
conceives, develops or reduces to practice or causes to be made, conceived,
developed or reduced to practice while employed by Company, that Employee
considers to be personal property of the property of third parties, and which
is
directly related to the business to be conducted by Company.
11.1
Further
Documentation
. Employee agrees that, without charge to Company,
Employee will promptly execute and deliver further documents and perform all
lawful acts necessary to transfer all rights, title and interest in the
Intellectual Property to Company. The obligation to provide documents
and perform lawful acts will not expire with the termination of this
Agreement.
12.
Confidentiality
. Company
possess and will continue to possess information which has been created,
discovered, developed or otherwise come into the possession of Company, which
information has commercial value to Company, including but not limited to the
Intellectual Property, information that Company is obligated to keep
confidential, and information Employee has reason or should reasonably know
Company would like to treat as confidential for any purpose
(“
Confidential Information
”). Unless previously
authorized in writing by the Board of Directors, Employee will not, at any
time,
disclose to others, use, or allow anyone else to use any Confidential
Information except as may be necessary in the performance of Employee’s duties,
unless and only to the extent that (i) such confidential information has become
ascertainable or obtained from public or published sources; or (ii) Employee
is
required by law to disclose such Confidential Information, in which case,
Employee will give timely notice, if possible, of the request for disclosure
so
that Company may seek a protective order as to the Confidential
Information.
12.1
Return
of Documentation
. Upon termination of employment, Employee shall
return all property and records, of any type, of Company held anywhere in
Employee’s possession.
13.
Injunctive
Relief
. Employee acknowledges that Employee’s breach of the
covenants contained in sections 8, 9, 10, 11, and 12 (collectively
“
Covenants
”) would cause irreparable injury to Company and
agrees that in the event of any such breach, Company shall be entitled to seek
temporary, preliminary and permanent injunctive relief without the necessity
of
proving actual damages or posting any bond or other security.
Page 6 of
9
Initials: Employee
_____
Company
_____
14.
Agreement
to Arbitrate
. To the fullest extent permitted by law, Employee
and Company agree to arbitrate any controversy, claim or dispute between them
arising out of or in any way related to this Agreement, the employment
relationship between Company and Employee and any disputes upon termination
of
employment, including but not limited to breach of contract, tort,
discrimination, harassment, wrongful termination, demotion, discipline, failure
to accommodate, family and medical leave, compensation or benefits claims,
constitutional claims; and any claims for violation of any local, state or
federal law, statute, regulation or ordinance or common law. Claims
for workers’ compensation, unemployment insurance benefits, and Company’s right
to obtain injunctive or equitable relief pursuant to the Covenants above are
excluded. For the purpose of this agreement to arbitrate, references
to “Company” include all parent, subsidiary or related entities and their
employees, supervisors, officers, directors, agents, pension or benefit plans,
pension or benefit plan sponsors, fiduciaries, administrators, affiliates and
all successors and assigns of any of them, and this agreement shall apply to
them to the extent Employee’s claims arise out of or relate to their actions on
behalf of Company.
14.1
Consideration
. The
mutual promise by Company and Employee to arbitrate any and all disputes between
them (except for those referenced above) rather than litigate them before the
courts or other bodies, provides the consideration for this agreement to
arbitrate.
14.2
Initiation
of Arbitration
. Either party may exercise the right to arbitrate
by providing the other party with written notice of any and all claims forming
the basis of such right in sufficient detail to inform the other party of the
substance of such claims. In no event shall the request for
arbitration be made after the date when institution of legal or equitable
proceedings based on such claims would be barred by the applicable statute
of
limitations.
14.3
Arbitration
Procedure
. The arbitration will be conducted in Denver
,
Colorado by a panel of three (3) arbitrators and in accordance
with the
then current rules for resolution of employment disputes of the American
Arbitration Association (AAA) (available on-line at
www.adr.org). Each party shall choose an arbitrator and the two
arbitrators shall select a third arbitrator. The parties are entitled
to representation by an attorney or other representative of their
choosing. The arbitrators shall have the power to enter any award
that could be entered by a judge of the trial court of the State of Colorado,
and only such power, and shall follow the law. The parties agree to
abide by and perform any award rendered by the arbitrators. The
arbitrators shall issue the award in writing and therein state the essential
findings and conclusions on which the award is based. Judgment on the
award may be entered in any court having jurisdiction thereof.
14.4
Costs
of Arbitration
. The parties shall share equally the costs of the
arbitration filing and hearing fees and the cost of the
arbitration.
Page 7 of
9
Initials: Employee
_____
Company
_____
15.
General
Provisions
.
15.1
Successors
and Assigns
. The rights and obligations of Company under this
Agreement shall inure to the benefit of and shall be binding upon the successors
and assigns of Company. Employee shall not be entitled to assign any
of Employee’s rights or obligations under this Agreement.
15.2
Waiver
. Either
party’s failure to enforce any provision of this Agreement shall not in any way
be construed as a waiver of any such provision, or prevent that party thereafter
from enforcing each and every other provision of this Agreement.
15.3
Attorneys’
Fees
. Each side will bear its own attorneys’ fees in any dispute
unless a statutory section at issue, if any, authorizes the award of attorneys’
fees to the prevailing party.
15.4
Severability
. In
the event any provision of this Agreement is found to be unenforceable by an
arbitrator or court of competent jurisdiction, such provision shall be deemed
modified to the extent necessary to allow enforceability of the provision as
so
limited, it being intended that the parties shall receive the benefit
contemplated herein to the fullest extent permitted by law. If a
deemed modification is not satisfactory in the judgment of such arbitrator
or
court, the unenforceable provision shall be deemed deleted, and the validity
and
enforceability of the remaining provisions shall not be affected
thereby.
15.5
Interpretation;
Construction
. The headings set forth in this Agreement are for
convenience only and shall not be used in interpreting this
Agreement. This Agreement has been jointly drafted by legal counsel
representing Employee and the Company.
15.6
Governing
Law
. This Agreement will be governed by and construed in
accordance with the laws of the State of Colorado. Each party
consents to the jurisdiction and venue of the state or federal courts in Denver,
Colorado, if applicable, in any action, suit, or proceeding arising out of
or
relating to this Agreement.
15.7
Notices.
Any
notice required or permitted by this Agreement shall be in writing and shall
be
delivered as follows with notice deemed given as indicated: (a) by
personal delivery when delivered personally; (b) by overnight courier upon
written verification of receipt; (c) by telecopy or facsimile transmission
upon
acknowledgment of receipt of electronic transmission; or (d) by certified or
registered mail, return receipt requested, upon verification of
receipt. Notice shall be sent to the addresses set forth below, or
such other address as either party may specify in writing.
15.8
Survival
. Sections
8 (“No Conflict of Interest”), 9 (“Covenant Not to Compete”), 10
(“Nonsolicitation”), 11 (“Assignment of Intellectual Property”), 12
(“Confidentiality”), 13 (“Injunctive Relief”), 14 (“Agreement to Arbitrate”), 15
(“General Provisions”) and 17 (“Entire Agreement”) of this Agreement shall
survive Employee’s employment by Company indefinitely.
Page 8 of
9
Initials: Employee
_____
Company
_____
16.
Employee to Seek Advice
. Employee acknowledges
that he has
been advised and encouraged by Company to seek independent advice by counsel
before executing this Agreement.
17.
Entire
Agreement
. This Agreement, and any documents incorporated by
reference in this Agreement, constitutes the entire agreement between the
parties relating to this subject matter and supersedes all prior or simultaneous
representations, discussions, negotiations, and agreements, whether written
or
oral. This Agreement may be amended or modified only with the written
consent of Employee and the Board, including without limitation any changes
that
may be necessary to comply with the provisions of Section 409A of the Internal
Revenue Code, to the extent applicable. This Agreement may be amended
or modified only with the written consent of Employee and the Board of Directors
of Company. No oral waiver, amendment or modification will be
effective under any circumstances whatsoever.
THE
PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND
EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED
THIS AGREEMENT ON THE DATES SHOWN BELOW.
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EMPLOYEE
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Dated:
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/s/ Jim
Crelia
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Jim
Crelia
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CENTRIC
RX, INC.
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Dated:
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By:
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/s/ James
P.R. Samuels
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James
P.R. Samuels, signing on behalf of
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Worldwide
Strategies Incorporated
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Page 9 of
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Initials: Employee
_____
Company
_____
EXHIBIT
10.4
EMPLOYMENT
AGREEMENT WITH JACK WEST
DATED
AUGUST 1, 2007
EMPLOYMENT
AGREEMENT
This
Employment Agreement (this “
Agreement
”) is entered into with an
effective date of employment beginning August 1, 2007 (this “
Effective
Date
”), by and between Centric Rx, Inc., a Nevada corporation
(“
CENTRIC
” or “
Company
”), a wholly-owned
subsidiary of Worldwide Strategies Incorporated, a Nevada corporation
(“
WWSI
”), and Jack West
(“
Employee
”).
For
the
purpose of this Agreement, references to “Company” include all parent,
subsidiary or related entities and their employees, supervisors, officers,
directors, agents, pension or benefit plans, pension or benefit plan sponsors,
fiduciaries, administrators, affiliates and all successors and assigns of any
of
them, as may be determined from the context of the reference.
The
parties agree as follows:
1.
Employment
. Company
hereby employs Employee for the limited term set forth below, and Employee
hereby accepts such employment, upon the terms and conditions set forth
herein.
2.
Duties
.
2.1
Position
. Employee
is employed in the position of Vice-President of Sales of CENTRIC, and shall
have the duties and responsibilities assigned by the Board of Directors of
WWSI
(the “
Board of Directors
”) both upon initial hire and as may be
reasonably assigned from time to time. Employee shall perform
faithfully and diligently all duties assigned to Employee. Employee
acknowledges that Company, under the direction of the Board of Directors, has
the right to modify Employee’s position and duties at any time in its sole and
absolute discretion. Employee shall report to the President of
CENTRIC and be supervised by the President of WWSI. In the absence of
the President of CENTRIC and WWSI, Employee shall report to and be supervised
by
the Board of Directors.
2.2
Best
Efforts/Full-time
. Employee will expend Employee’s best efforts
on behalf of Company, and will abide by all policies and decisions made by
Company and the Board of Directors, as well as all applicable federal, state
and
local laws, regulations or ordinances. Employee will act in the best
interest of Company at all times. After a ninety (90)-day transition
period, Employee shall devote Employee’s full business time and efforts to the
performance of Employee’s assigned duties for Company, unless Employee notifies
the Board of Directors in advance of Employee’s intent to engage in other paid
work and describes in sufficient detail the nature of such work, and the Board
of Directors grants Employee express written consent to do such
work.
2.3
Work
Location
. Employee’s principal place of work shall be located at
the principal offices of Company, currently located at 8125 Riviera Beach Drive,
Las Vegas, Nevada, 89128, or such other location as the Board of Directors
may
authorize from time to time.
Page 1 of
9
Initials: Employee
_____
Company
_____
3.
Term
.
3.1
Initial
Term
. The employment relationship pursuant to this Agreement
shall be for an initial term commencing on the Effective Date set forth above
and continuing for a period of one (1) year following such date
(“
Initial Term
”), unless sooner terminated in accordance with
section 7 below. Employee agrees and acknowledges that the Initial
Term of the Agreement is a material term to Company, and waives any rights
not
expressly provided for in this Agreement should Company exercise its right
not
to renew this Agreement in accordance with subsection 3.2 at the conclusion
of
the Initial Term.
3.2
Renewal
. On
completion of the Initial Term specified in subsection 3.1 above, this Agreement
will automatically renew for subsequent one (1)-year terms unless either party
provides at least thirty (30) days’ advance written notice to the other that it
does not wish to renew the Agreement for a subsequent one (1)-year
period. In the event either party gives notice of nonrenewal pursuant
to this subsection 3.2, this Agreement will expire at the end of that
term.
4.
Compensation
.
4.1
Base
Salary
. As compensation for Employee’s performance of Employee’s
duties hereunder, Company shall pay Employee a Base Salary of $10,000 per month,
payable in accordance with the normal payroll practices of Company, less
required deductions for state and federal withholding tax, social security
and
all other employment taxes and payroll deductions.
4.2
Annual
Bonus
. Employee will be granted an annual bonus equal to 25% of
Base Salary, so long as individual and Company objectives, as established by
the
Board of Directors in its sole discretion, are achieved, such bonus to be paid
in cash or shares of common stock of WWSI at the date of grant market price,
in
the sole discretion of WWSI.
4.3
Other
Incentive Compensation
. From time to time, in the sole discretion
of the Board of Directors, Employee may receive other incentive bonuses based
on
the achievement of written goals established by the Board of Directors and
communicated to Employee, paid in cash, stock options, or common stock of
WWSI.
4.4
Performance
and Salary Review
. Employee’s supervisor, or in the absence of a
supervisor, the Board of Directors, will periodically review Employee’s
performance on no less than an annual basis and will make adjustments to salary
or other compensation in their sole discretion.
5.
Customary
Employee Benefits
. Employee will be eligible for all customary
and usual fringe benefits generally available to other full-time employees
of
Company. Company reserves the right to change or eliminate the fringe
benefits on a prospective basis, at any time, effective upon notice to
Employee. Company will also provide Employee with the right to
participate in Company’s 401(k) program as of the Effective Date.
Page 2 of
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Initials: Employee
_____
Company
_____
6.
Business
Expenses
. Employee acknowledges that he owes Company a fiduciary
obligation to minimize, to the extent practicable, expenses incurred in the
course and scope of performing his duties for Company. Employee will
be reimbursed for all reasonable, out-of-pocket business expenses incurred
in
the performance of Employee’s duties on behalf of Company. To obtain
reimbursement, expenses must be submitted promptly with appropriate supporting
documentation in accordance with Company’s policies.
7.
Termination
of Employee’s Employment
.
7.1
Termination
for Cause by Company
. The Board of Directors may terminate
Employee’s employment immediately at any time for Cause. In the event
Employee’s employment is terminated in accordance with this subsection 7.1,
Employee shall be entitled to receive only the Base Salary then in effect,
prorated to the date of termination. All other Company obligations to
Employee pursuant to this Agreement will become automatically terminated and
completely extinguished. If Employee is terminated for Cause pursuant
to this provision, the Company may ask him to leave the Company’s offices
immediately.
For
purposes of this Agreement, “
Cause
” is defined as:
(a)
Employee’s
breach of fiduciary duty to the Company or its Board of Directors;
(b)
Acts
or
omissions constituting negligence, recklessness or willful misconduct on the
part of Employee with respect to Employee’s obligations or otherwise relating to
the business of Company;
(c)
Employee’s
material breach of this Agreement;
(d)
Employee’s
conviction or entry of a plea of nolo contendere for fraud, misappropriation
or
embezzlement, or any felony or crime of moral turpitude;
(e)
Employee’s
willful neglect of duties as determined in the sole and exclusive discretion
of
the Board of Directors;
(f)
Employee’s
failure to perform the essential functions of Employee’s position, with or
without reasonable accommodation, due to a mental or physical disability;
or
(g)
Employee’s
death.
Page 3 of
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_____
Company
_____
7.2
Termination
Without Cause by Company
. Company may terminate Employee’s
employment under this Agreement without Cause at any time by giving at least
thirty (30) days’ advance written notice to Employee. In the event of
a termination pursuant to this subsection 7.2, all other Company obligations
to
Employee will be automatically terminated and completely extinguished and
Employee will be entitled to receive a payment equal to two months of the Base
Salary in effect at the date of termination (“
Severance
Payment
”), provided that Employee:
(a)
Complies
with all surviving provisions of this Agreement as specified in subsection
12.8
below;
(b)
Executes
a full general release, releasing all claims, known or unknown, that Employee
may have against Company arising out of or in any way related to Employee’s
employment or termination of employment with Company; and
(c)
Agrees
to
act as a consultant for Company, without further compensation, for thirty (30)
days following the termination of the employment relationship, if requested
to
do so by Company. The Company may also direct Employee to cease all
work on behalf of Company immediately if it decides to terminate his employment
under this provision as long as it provides Employee with the described
benefits.
Should
Employee fail or refuse to provide the items required under this subsection
7.2,
the termination shall be deemed to be for Cause under subsection
7.1.
7.3
Employee
Resignation for Good Reason
. Employee may voluntarily resign
Employee’s position with Company for Good Reason, at any time by giving at least
thirty (30) days’ advance written notice. In the event of Employee’s
resignation for Good Reason, Employee will be entitled to receive the Base
Salary then in effect, prorated to the date of resignation, and all accrued
paid-time-off, in accordance with Company’s customary employee benefit
policies. All other Company obligations to Employee pursuant to this
Agreement will become automatically terminated and completely
extinguished.
Employee
will be deemed to have resigned for “Good Reason” in the event of Company’s
material breach of this Agreement.
7.4
Employee
Resignation Without Good Reason
. Employee may voluntarily resign
Employee’s position with Company without Good Reason, by giving at least thirty
(30) days’ advance written notice. In the event of Employee’s
resignation without Good Reason, Employee will be entitled to receive only
the
Base Salary for the thirty (30)-day notice period and no other
amount. All other Company obligations to Employee pursuant to this
Agreement will become automatically terminated and completely
extinguished.
Page 4 of
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Initials: Employee
_____
Company
_____
7.5
Termination
of Employment Upon Nonrenewal
. In the event either party decides
not to renew this Agreement after completion of the Initial Term in accordance
with subsection 3.2 above, this Agreement will expire, Employee’s employment
with Company will terminate and Employee will only be entitled to Employee’s
Base Salary paid through the last day of the current term.
8.
No
Conflict of Interest
. During the term of Employee’s employment
with Company and during any period Employee is receiving payments from Company
pursuant to this Agreement, Employee must not engage in any work, paid or
unpaid, that creates an actual conflict of interest with Company.
9.
Covenant
Not to Compete
. Employee agrees not to, directly or indirectly
competing with Company in any way, or acting as an officer, director, employee,
consultant, stockholder, volunteer, lender, or agent of any business enterprise
of the same nature as, or which is in direct competition with, the business
in
which Company is now engaged or in which Company becomes engaged, as may be
determined by the Board of Directors in its sole discretion, during the term
of
Employee’s employment with Company and for two (2) years after the termination
of employment with Company. If the Board of Directors believes such
competition exists during the term of this Agreement, the Board of Directors
may
ask Employee to choose to discontinue the other work or resign employment with
Company. If the Board of Directors believes such competition exists
during any period in which Employee is receiving payments pursuant to this
Agreement, the Board of Directors may ask Employee to choose to discontinue
the
other work and forfeit any Severance Payment.
10.
Nonsolicitation
. Employee
understands and agrees that Company’s employees and customers and any
information regarding Company’s employees and/or customers is confidential and
constitutes its trade secrets under Colorado law. Employee agrees to
use his best efforts to protect against the intentional or inadvertent
disclosure of such trade secrets to Company’s competitors, customers or vendors,
or to the general public.
10.1
Nonsolicitation
of Customers or Prospects
. Employee agrees that all customers of
Company shall remain customers of Company during the term and after the
termination of this Agreement, and that during the term of this Agreement and
for a period of two (2) years after the termination of this Agreement, Employee
will not, either directly or indirectly, separately or in association with
others, interfere with, impair, disrupt or damage Company’s relationship with
any of its customers or customer prospects by soliciting or encouraging others
to solicit any of them for the purpose of diverting or taking away business
from
Company.
10.2
Nonsolicitation
of Company’s Employees
. Employee agrees that during the term and
after the termination of this Agreement, Employee will not, either directly
or
indirectly, separately or in association with others, interfere with, impair,
disrupt or damage Company’s business by soliciting, encouraging or recruiting
any of Company’s employees or causing others to solicit or encourage any of
Company’s employees to discontinue their employment with Company.
Page 5 of
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Initials: Employee
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Company
_____
11.
Assignment
of Intellectual Property
. Employee hereby transfers and assigns
to Company all trade secrets, inventions, trademarks, service marks, logos,
corporate names, domain names, ideas, processes, customer lists, business plans,
copy rights, other works of authorship, know-how, improvements, discoveries,
developments, refinements, designs and techniques (collectively referred to
as
“
Intellectual Property
”), which Employee made, conceived,
developed or reduced to practice or caused be made, conceived, developed or
reduced to practice prior to the Effective Date or which Employee makes,
conceives, develops or reduces to practice or causes to be made, conceived,
developed or reduced to practice while employed by Company, that Employee
considers to be personal property of the property of third parties, and which
is
directly related to the business to be conducted by Company.
11.1
Further
Documentation
. Employee agrees that, without charge to Company,
Employee will promptly execute and deliver further documents and perform all
lawful acts necessary to transfer all rights, title and interest in the
Intellectual Property to Company. The obligation to provide documents
and perform lawful acts will not expire with the termination of this
Agreement.
12.
Confidentiality
. Company
possess and will continue to possess information which has been created,
discovered, developed or otherwise come into the possession of Company, which
information has commercial value to Company, including but not limited to the
Intellectual Property, information that Company is obligated to keep
confidential, and information Employee has reason or should reasonably know
Company would like to treat as confidential for any purpose
(“
Confidential Information
”). Unless previously
authorized in writing by the Board of Directors, Employee will not, at any
time,
disclose to others, use, or allow anyone else to use any Confidential
Information except as may be necessary in the performance of Employee’s duties,
unless and only to the extent that (i) such confidential information has become
ascertainable or obtained from public or published sources; or (ii) Employee
is
required by law to disclose such Confidential Information, in which case,
Employee will give timely notice, if possible, of the request for disclosure
so
that Company may seek a protective order as to the Confidential
Information.
12.1
Return
of Documentation
. Upon termination of employment, Employee shall
return all property and records, of any type, of Company held anywhere in
Employee’s possession.
13.
Injunctive
Relief
. Employee acknowledges that Employee’s breach of the
covenants contained in sections 8, 9, 10, 11, and 12 (collectively
“
Covenants
”) would cause irreparable injury to Company and
agrees that in the event of any such breach, Company shall be entitled to seek
temporary, preliminary and permanent injunctive relief without the necessity
of
proving actual damages or posting any bond or other security.
Page 6 of
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Initials: Employee
_____
Company
_____
14.
Agreement
to Arbitrate
. To the fullest extent permitted by law, Employee
and Company agree to arbitrate any controversy, claim or dispute between them
arising out of or in any way related to this Agreement, the employment
relationship between Company and Employee and any disputes upon termination
of
employment, including but not limited to breach of contract, tort,
discrimination, harassment, wrongful termination, demotion, discipline, failure
to accommodate, family and medical leave, compensation or benefits claims,
constitutional claims; and any claims for violation of any local, state or
federal law, statute, regulation or ordinance or common law. Claims
for workers’ compensation, unemployment insurance benefits, and Company’s right
to obtain injunctive or equitable relief pursuant to the Covenants above are
excluded. For the purpose of this agreement to arbitrate, references
to “Company” include all parent, subsidiary or related entities and their
employees, supervisors, officers, directors, agents, pension or benefit plans,
pension or benefit plan sponsors, fiduciaries, administrators, affiliates and
all successors and assigns of any of them, and this agreement shall apply to
them to the extent Employee’s claims arise out of or relate to their actions on
behalf of Company.
14.1
Consideration
. The
mutual promise by Company and Employee to arbitrate any and all disputes between
them (except for those referenced above) rather than litigate them before the
courts or other bodies, provides the consideration for this agreement to
arbitrate.
14.2
Initiation
of Arbitration
. Either party may exercise the right to arbitrate
by providing the other party with written notice of any and all claims forming
the basis of such right in sufficient detail to inform the other party of the
substance of such claims. In no event shall the request for
arbitration be made after the date when institution of legal or equitable
proceedings based on such claims would be barred by the applicable statute
of
limitations.
14.3
Arbitration
Procedure
. The arbitration will be conducted in Denver
,
Colorado by a panel of three (3) arbitrators and in accordance
with the
then current rules for resolution of employment disputes of the American
Arbitration Association (AAA) (available on-line at
www.adr.org). Each party shall choose an arbitrator and the two
arbitrators shall select a third arbitrator. The parties are entitled
to representation by an attorney or other representative of their
choosing. The arbitrators shall have the power to enter any award
that could be entered by a judge of the trial court of the State of Colorado,
and only such power, and shall follow the law. The parties agree to
abide by and perform any award rendered by the arbitrators. The
arbitrators shall issue the award in writing and therein state the essential
findings and conclusions on which the award is based. Judgment on the
award may be entered in any court having jurisdiction thereof.
14.4
Costs
of Arbitration
. The parties shall share equally the costs of the
arbitration filing and hearing fees and the cost of the
arbitration.
Page 7 of
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Initials: Employee
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Company
_____
15.
General
Provisions
.
15.1
Successors
and Assigns
. The rights and obligations of Company under this
Agreement shall inure to the benefit of and shall be binding upon the successors
and assigns of Company. Employee shall not be entitled to assign any
of Employee’s rights or obligations under this Agreement.
15.2
Waiver
. Either
party’s failure to enforce any provision of this Agreement shall not in any way
be construed as a waiver of any such provision, or prevent that party thereafter
from enforcing each and every other provision of this Agreement.
15.3
Attorneys’
Fees
. Each side will bear its own attorneys’ fees in any dispute
unless a statutory section at issue, if any, authorizes the award of attorneys’
fees to the prevailing party.
15.4
Severability
. In
the event any provision of this Agreement is found to be unenforceable by an
arbitrator or court of competent jurisdiction, such provision shall be deemed
modified to the extent necessary to allow enforceability of the provision as
so
limited, it being intended that the parties shall receive the benefit
contemplated herein to the fullest extent permitted by law. If a
deemed modification is not satisfactory in the judgment of such arbitrator
or
court, the unenforceable provision shall be deemed deleted, and the validity
and
enforceability of the remaining provisions shall not be affected
thereby.
15.5
Interpretation;
Construction
. The headings set forth in this Agreement are for
convenience only and shall not be used in interpreting this
Agreement. This Agreement has been jointly drafted by legal counsel
representing Employee and the Company.
15.6
Governing
Law
. This Agreement will be governed by and construed in
accordance with the laws of the State of Colorado. Each party
consents to the jurisdiction and venue of the state or federal courts in Denver,
Colorado, if applicable, in any action, suit, or proceeding arising out of
or
relating to this Agreement.
15.7
Notices.
Any
notice required or permitted by this Agreement shall be in writing and shall
be
delivered as follows with notice deemed given as indicated: (a) by
personal delivery when delivered personally; (b) by overnight courier upon
written verification of receipt; (c) by telecopy or facsimile transmission
upon
acknowledgment of receipt of electronic transmission; or (d) by certified or
registered mail, return receipt requested, upon verification of
receipt. Notice shall be sent to the addresses set forth below, or
such other address as either party may specify in writing.
15.8
Survival
. Sections
8 (“No Conflict of Interest”), 9 (“Covenant Not to Compete”), 10
(“Nonsolicitation”), 11 (“Assignment of Intellectual Property”), 12
(“Confidentiality”), 13 (“Injunctive Relief”), 14 (“Agreement to Arbitrate”), 15
(“General Provisions”) and 17 (“Entire Agreement”) of this Agreement shall
survive Employee’s employment by Company indefinitely.
Page 8 of
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Initials: Employee
_____
Company
_____
16.
Employee to Seek
Advice
. Employee acknowledges that he has been advised and
encouraged by Company to seek independent advice by counsel before executing
this Agreement.
17.
Entire
Agreement
. This Agreement, and any documents incorporated by
reference in this Agreement, constitutes the entire agreement between the
parties relating to this subject matter and supersedes all prior or simultaneous
representations, discussions, negotiations, and agreements, whether written
or
oral. This Agreement may be amended or modified only with the written
consent of Employee and the Board, including without limitation any changes
that
may be necessary to comply with the provisions of Section 409A of the Internal
Revenue Code, to the extent applicable. This Agreement may be amended
or modified only with the written consent of Employee and the Board of Directors
of Company. No oral waiver, amendment or modification will be
effective under any circumstances whatsoever.
THE
PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND
EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED
THIS AGREEMENT ON THE DATES SHOWN BELOW.
|
EMPLOYEE
|
|
|
|
|
|
Dated:
|
|
/s/ Jack
West
|
|
|
|
Jack
West
|
|
|
|
|
|
|
|
|
|
|
CENTRIC
RX, INC.
|
|
|
|
|
|
Dated:
|
By:
|
/s/ James
P.R. Samuels
|
|
|
|
James
P.R. Samuels, signing on behalf of
|
|
|
|
Worldwide
Strategies Incorporated
|
|
|
|
|
|
Page 9 of
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Initials: Employee
_____
Company
_____
EXHIBIT
10.5
EMPLOYMENT
AGREEMENT WITH PETER LONGBONS
DATED
AUGUST 1, 2007
EMPLOYMENT
AGREEMENT
This
Employment Agreement (this “
Agreement
”) is entered into with an
effective date of employment beginning August 1, 2007 (this “
Effective
Date
”), by and between Centric Rx, Inc., a Nevada corporation
(“
CENTRIC
” or “
Company
”), a wholly-owned
subsidiary of Worldwide Strategies Incorporated, a Nevada corporation
(“
WWSI
”), and Peter Longbons
(“
Employee
”).
For
the
purpose of this Agreement, references to “Company” include all parent,
subsidiary or related entities and their employees, supervisors, officers,
directors, agents, pension or benefit plans, pension or benefit plan sponsors,
fiduciaries, administrators, affiliates and all successors and assigns of any
of
them, as may be determined from the context of the reference.
The
parties agree as follows:
1.
Employment
. Company
hereby employs Employee for the limited term set forth below, and Employee
hereby accepts such employment, upon the terms and conditions set forth
herein.
2.
Duties
.
2.1
Position
. Employee
is employed in the position of Vice-President of Sales of CENTRIC, and shall
have the duties and responsibilities assigned by the Board of Directors of
WWSI
(the “
Board of Directors
”) both upon initial hire and as may be
reasonably assigned from time to time. Employee shall perform
faithfully and diligently all duties assigned to Employee. Employee
acknowledges that Company, under the direction of the Board of Directors, has
the right to modify Employee’s position and duties at any time in its sole and
absolute discretion. Employee shall report to the President of
CENTRIC and be supervised by the President of WWSI. In the absence of
the President of CENTRIC and WWSI, Employee shall report to and be supervised
by
the Board of Directors.
2.2
Best
Efforts/Full-time
. Employee will expend Employee’s best efforts
on behalf of Company, and will abide by all policies and decisions made by
Company and the Board of Directors, as well as all applicable federal, state
and
local laws, regulations or ordinances. Employee will act in the best
interest of Company at all times. After a ninety (90)-day transition
period, Employee shall devote Employee’s full business time and efforts to the
performance of Employee’s assigned duties for Company, unless Employee notifies
the Board of Directors in advance of Employee’s intent to engage in other paid
work and describes in sufficient detail the nature of such work, and the Board
of Directors grants Employee express written consent to do such
work.
2.3
Work
Location
. Employee’s principal place of work shall be located at
the principal offices of Company, currently located at 8125 Riviera Beach Drive,
Las Vegas, Nevada, 89128, or such other location as the Board of Directors
may
authorize from time to time.
Page 1 of
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Initials: Employee
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Company
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3.
Term
.
3.1
Initial
Term
. The employment relationship pursuant to this Agreement
shall be for an initial term commencing on the Effective Date set forth above
and continuing for a period of one (1) year following such date
(“
Initial Term
”), unless sooner terminated in accordance with
section 7 below. Employee agrees and acknowledges that the Initial
Term of the Agreement is a material term to Company, and waives any rights
not
expressly provided for in this Agreement should Company exercise its right
not
to renew this Agreement in accordance with subsection 3.2 at the conclusion
of
the Initial Term.
3.2
Renewal
. On
completion of the Initial Term specified in subsection 3.1 above, this Agreement
will automatically renew for subsequent one (1)-year terms unless either party
provides at least thirty (30) days’ advance written notice to the other that it
does not wish to renew the Agreement for a subsequent one (1)-year
period. In the event either party gives notice of nonrenewal pursuant
to this subsection 3.2, this Agreement will expire at the end of that
term.
4.
Compensation
.
4.1
Base
Salary
. As compensation for Employee’s performance of Employee’s
duties hereunder, Company shall pay Employee a Base Salary of $10,000 per month,
payable in accordance with the normal payroll practices of Company, less
required deductions for state and federal withholding tax, social security
and
all other employment taxes and payroll deductions.
4.2
Annual
Bonus
. Employee will be granted an annual bonus equal to 25% of
Base Salary, so long as individual and Company objectives, as established by
the
Board of Directors in its sole discretion, are achieved, such bonus to be paid
in cash or shares of common stock of WWSI at the date of grant market price,
in
the sole discretion of WWSI.
4.3
Other
Incentive Compensation
. From time to time, in the sole discretion
of the Board of Directors, Employee may receive other incentive bonuses based
on
the achievement of written goals established by the Board of Directors and
communicated to Employee, paid in cash, stock options, or common stock of
WWSI.
4.4
Performance
and Salary Review
. Employee’s supervisor, or in the absence of a
supervisor, the Board of Directors, will periodically review Employee’s
performance on no less than an annual basis and will make adjustments to salary
or other compensation in their sole discretion.
5.
Customary
Employee Benefits
. Employee will be eligible for all customary
and usual fringe benefits generally available to other full-time employees
of
Company. Company reserves the right to change or eliminate the fringe
benefits on a prospective basis, at any time, effective upon notice to
Employee. Company will also provide Employee with the right to
participate in Company’s 401(k) program as of the Effective Date.
Page 2 of
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Initials: Employee
_____
Company
_____
6.
Business
Expenses
. Employee acknowledges that he owes Company a fiduciary
obligation to minimize, to the extent practicable, expenses incurred in the
course and scope of performing his duties for Company. Employee will
be reimbursed for all reasonable, out-of-pocket business expenses incurred
in
the performance of Employee’s duties on behalf of Company. To obtain
reimbursement, expenses must be submitted promptly with appropriate supporting
documentation in accordance with Company’s policies.
7.
Termination
of Employee’s Employment
.
7.1
Termination
for Cause by Company
. The Board of Directors may terminate
Employee’s employment immediately at any time for Cause. In the event
Employee’s employment is terminated in accordance with this subsection 7.1,
Employee shall be entitled to receive only the Base Salary then in effect,
prorated to the date of termination. All other Company obligations to
Employee pursuant to this Agreement will become automatically terminated and
completely extinguished. If Employee is terminated for Cause pursuant
to this provision, the Company may ask him to leave the Company’s offices
immediately.
For
purposes of this Agreement, “
Cause
” is defined as:
(a)
Employee’s
breach of fiduciary duty to the Company or its Board of Directors;
(b)
Acts
or
omissions constituting negligence, recklessness or willful misconduct on the
part of Employee with respect to Employee’s obligations or otherwise relating to
the business of Company;
(c)
Employee’s
material breach of this Agreement;
(d)
Employee’s
conviction or entry of a plea of nolo contendere for fraud, misappropriation
or
embezzlement, or any felony or crime of moral turpitude;
(e)
Employee’s
willful neglect of duties as determined in the sole and exclusive discretion
of
the Board of Directors;
(f)
Employee’s
failure to perform the essential functions of Employee’s position, with or
without reasonable accommodation, due to a mental or physical disability;
or
(g)
Employee’s
death.
Page 3 of
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Initials: Employee
_____
Company
_____
7.2
Termination
Without Cause by Company
. Company may terminate Employee’s
employment under this Agreement without Cause at any time by giving at least
thirty (30) days’ advance written notice to Employee. In the event of
a termination pursuant to this subsection 7.2, all other Company obligations
to
Employee will be automatically terminated and completely extinguished and
Employee will be entitled to receive a payment equal to two months of the Base
Salary in effect at the date of termination (“
Severance
Payment
”), provided that Employee:
(a)
Complies
with all surviving provisions of this Agreement as specified in subsection
12.8
below;
(b)
Executes
a full general release, releasing all claims, known or unknown, that Employee
may have against Company arising out of or in any way related to Employee’s
employment or termination of employment with Company; and
(c)
Agrees
to
act as a consultant for Company, without further compensation, for thirty (30)
days following the termination of the employment relationship, if requested
to
do so by Company. The Company may also direct Employee to cease all
work on behalf of Company immediately if it decides to terminate his employment
under this provision as long as it provides Employee with the described
benefits.
Should
Employee fail or refuse to provide the items required under this subsection
7.2,
the termination shall be deemed to be for Cause under subsection
7.1.
7.3
Employee
Resignation for Good Reason
. Employee may voluntarily resign
Employee’s position with Company for Good Reason, at any time by giving at least
thirty (30) days’ advance written notice. In the event of Employee’s
resignation for Good Reason, Employee will be entitled to receive the Base
Salary then in effect, prorated to the date of resignation, and all accrued
paid-time-off, in accordance with Company’s customary employee benefit
policies. All other Company obligations to Employee pursuant to this
Agreement will become automatically terminated and completely
extinguished.
Employee
will be deemed to have resigned for “Good Reason” in the event of Company’s
material breach of this Agreement.
7.4
Employee
Resignation Without Good Reason
. Employee may voluntarily resign
Employee’s position with Company without Good Reason, by giving at least thirty
(30) days’ advance written notice. In the event of Employee’s
resignation without Good Reason, Employee will be entitled to receive only
the
Base Salary for the thirty (30)-day notice period and no other
amount. All other Company obligations to Employee pursuant to this
Agreement will become automatically terminated and completely
extinguished.
Page 4 of
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Initials: Employee
_____
Company
_____
7.5
Termination
of Employment Upon Nonrenewal
. In the event either party decides
not to renew this Agreement after completion of the Initial Term in accordance
with subsection 3.2 above, this Agreement will expire, Employee’s employment
with Company will terminate and Employee will only be entitled to Employee’s
Base Salary paid through the last day of the current term.
8.
No
Conflict of Interest
. During the term of Employee’s employment
with Company and during any period Employee is receiving payments from Company
pursuant to this Agreement, Employee must not engage in any work, paid or
unpaid, that creates an actual conflict of interest with Company.
9.
Covenant
Not to Compete
. Employee agrees not to, directly or indirectly
competing with Company in any way, or acting as an officer, director, employee,
consultant, stockholder, volunteer, lender, or agent of any business enterprise
of the same nature as, or which is in direct competition with, the business
in
which Company is now engaged or in which Company becomes engaged, as may be
determined by the Board of Directors in its sole discretion, during the term
of
Employee’s employment with Company and for two (2) years after the termination
of employment with Company. If the Board of Directors believes such
competition exists during the term of this Agreement, the Board of Directors
may
ask Employee to choose to discontinue the other work or resign employment with
Company. If the Board of Directors believes such competition exists
during any period in which Employee is receiving payments pursuant to this
Agreement, the Board of Directors may ask Employee to choose to discontinue
the
other work and forfeit any Severance Payment.
10.
Nonsolicitation
. Employee
understands and agrees that Company’s employees and customers and any
information regarding Company’s employees and/or customers is confidential and
constitutes its trade secrets under Colorado law. Employee agrees to
use his best efforts to protect against the intentional or inadvertent
disclosure of such trade secrets to Company’s competitors, customers or vendors,
or to the general public.
10.1
Nonsolicitation
of Customers or Prospects
. Employee agrees that all customers of
Company shall remain customers of Company during the term and after the
termination of this Agreement, and that during the term of this Agreement and
for a period of two (2) years after the termination of this Agreement, Employee
will not, either directly or indirectly, separately or in association with
others, interfere with, impair, disrupt or damage Company’s relationship with
any of its customers or customer prospects by soliciting or encouraging others
to solicit any of them for the purpose of diverting or taking away business
from
Company.
10.2
Nonsolicitation
of Company’s Employees
. Employee agrees that during the term and
after the termination of this Agreement, Employee will not, either directly
or
indirectly, separately or in association with others, interfere with, impair,
disrupt or damage Company’s business by soliciting, encouraging or recruiting
any of Company’s employees or causing others to solicit or encourage any of
Company’s employees to discontinue their employment with Company.
Page 5 of
9
Initials: Employee
_____
Company
_____
11.
Assignment
of Intellectual Property
. Employee hereby transfers and assigns
to Company all trade secrets, inventions, trademarks, service marks, logos,
corporate names, domain names, ideas, processes, customer lists, business plans,
copy rights, other works of authorship, know-how, improvements, discoveries,
developments, refinements, designs and techniques (collectively referred to
as
“
Intellectual Property
”), which Employee made, conceived,
developed or reduced to practice or caused be made, conceived, developed or
reduced to practice prior to the Effective Date or which Employee makes,
conceives, develops or reduces to practice or causes to be made, conceived,
developed or reduced to practice while employed by Company, that Employee
considers to be personal property of the property of third parties, and which
is
directly related to the business to be conducted by Company.
11.1
Further
Documentation
. Employee agrees that, without charge to Company,
Employee will promptly execute and deliver further documents and perform all
lawful acts necessary to transfer all rights, title and interest in the
Intellectual Property to Company. The obligation to provide documents
and perform lawful acts will not expire with the termination of this
Agreement.
12.
Confidentiality
. Company
possess and will continue to possess information which has been created,
discovered, developed or otherwise come into the possession of Company, which
information has commercial value to Company, including but not limited to the
Intellectual Property, information that Company is obligated to keep
confidential, and information Employee has reason or should reasonably know
Company would like to treat as confidential for any purpose
(“
Confidential Information
”). Unless previously
authorized in writing by the Board of Directors, Employee will not, at any
time,
disclose to others, use, or allow anyone else to use any Confidential
Information except as may be necessary in the performance of Employee’s duties,
unless and only to the extent that (i) such confidential information has become
ascertainable or obtained from public or published sources; or (ii) Employee
is
required by law to disclose such Confidential Information, in which case,
Employee will give timely notice, if possible, of the request for disclosure
so
that Company may seek a protective order as to the Confidential
Information.
12.1
Return
of Documentation
. Upon termination of employment, Employee shall
return all property and records, of any type, of Company held anywhere in
Employee’s possession.
13.
Injunctive
Relief
. Employee acknowledges that Employee’s breach of the
covenants contained in sections 8, 9, 10, 11, and 12 (collectively
“
Covenants
”) would cause irreparable injury to Company and
agrees that in the event of any such breach, Company shall be entitled to seek
temporary, preliminary and permanent injunctive relief without the necessity
of
proving actual damages or posting any bond or other security.
Page 6 of
9
Initials: Employee
_____
Company
_____
14.
Agreement
to Arbitrate
. To the fullest extent permitted by law, Employee
and Company agree to arbitrate any controversy, claim or dispute between them
arising out of or in any way related to this Agreement, the employment
relationship between Company and Employee and any disputes upon termination
of
employment, including but not limited to breach of contract, tort,
discrimination, harassment, wrongful termination, demotion, discipline, failure
to accommodate, family and medical leave, compensation or benefits claims,
constitutional claims; and any claims for violation of any local, state or
federal law, statute, regulation or ordinance or common law. Claims
for workers’ compensation, unemployment insurance benefits, and Company’s right
to obtain injunctive or equitable relief pursuant to the Covenants above are
excluded. For the purpose of this agreement to arbitrate, references
to “Company” include all parent, subsidiary or related entities and their
employees, supervisors, officers, directors, agents, pension or benefit plans,
pension or benefit plan sponsors, fiduciaries, administrators, affiliates and
all successors and assigns of any of them, and this agreement shall apply to
them to the extent Employee’s claims arise out of or relate to their actions on
behalf of Company.
14.1
Consideration
. The
mutual promise by Company and Employee to arbitrate any and all disputes between
them (except for those referenced above) rather than litigate them before the
courts or other bodies, provides the consideration for this agreement to
arbitrate.
14.2
Initiation
of Arbitration
. Either party may exercise the right to arbitrate
by providing the other party with written notice of any and all claims forming
the basis of such right in sufficient detail to inform the other party of the
substance of such claims. In no event shall the request for
arbitration be made after the date when institution of legal or equitable
proceedings based on such claims would be barred by the applicable statute
of
limitations.
14.3
Arbitration
Procedure
. The arbitration will be conducted in Denver
,
Colorado by a panel of three (3) arbitrators and in accordance
with the
then current rules for resolution of employment disputes of the American
Arbitration Association (AAA) (available on-line at
www.adr.org). Each party shall choose an arbitrator and the two
arbitrators shall select a third arbitrator. The parties are entitled
to representation by an attorney or other representative of their
choosing. The arbitrators shall have the power to enter any award
that could be entered by a judge of the trial court of the State of Colorado,
and only such power, and shall follow the law. The parties agree to
abide by and perform any award rendered by the arbitrators. The
arbitrators shall issue the award in writing and therein state the essential
findings and conclusions on which the award is based. Judgment on the
award may be entered in any court having jurisdiction thereof.
14.4
Costs
of Arbitration
. The parties shall share equally the costs of the
arbitration filing and hearing fees and the cost of the
arbitration.
Page 7 of
9
Initials: Employee
_____
Company
_____
15.
General
Provisions
.
15.1
Successors
and Assigns
. The rights and obligations of Company under this
Agreement shall inure to the benefit of and shall be binding upon the successors
and assigns of Company. Employee shall not be entitled to assign any
of Employee’s rights or obligations under this Agreement.
15.2
Waiver
. Either
party’s failure to enforce any provision of this Agreement shall not in any way
be construed as a waiver of any such provision, or prevent that party thereafter
from enforcing each and every other provision of this Agreement.
15.3
Attorneys’
Fees
. Each side will bear its own attorneys’ fees in any dispute
unless a statutory section at issue, if any, authorizes the award of attorneys’
fees to the prevailing party.
15.4
Severability
. In
the event any provision of this Agreement is found to be unenforceable by an
arbitrator or court of competent jurisdiction, such provision shall be deemed
modified to the extent necessary to allow enforceability of the provision as
so
limited, it being intended that the parties shall receive the benefit
contemplated herein to the fullest extent permitted by law. If a
deemed modification is not satisfactory in the judgment of such arbitrator
or
court, the unenforceable provision shall be deemed deleted, and the validity
and
enforceability of the remaining provisions shall not be affected
thereby.
15.5
Interpretation;
Construction
. The headings set forth in this Agreement are for
convenience only and shall not be used in interpreting this
Agreement. This Agreement has been jointly drafted by legal counsel
representing Employee and the Company.
15.6
Governing
Law
. This Agreement will be governed by and construed in
accordance with the laws of the State of Colorado. Each party
consents to the jurisdiction and venue of the state or federal courts in Denver,
Colorado, if applicable, in any action, suit, or proceeding arising out of
or
relating to this Agreement.
15.7
Notices.
Any
notice required or permitted by this Agreement shall be in writing and shall
be
delivered as follows with notice deemed given as indicated: (a) by
personal delivery when delivered personally; (b) by overnight courier upon
written verification of receipt; (c) by telecopy or facsimile transmission
upon
acknowledgment of receipt of electronic transmission; or (d) by certified or
registered mail, return receipt requested, upon verification of
receipt. Notice shall be sent to the addresses set forth below, or
such other address as either party may specify in writing.
15.8
Survival
. Sections
8 (“No Conflict of Interest”), 9 (“Covenant Not to Compete”), 10
(“Nonsolicitation”), 11 (“Assignment of Intellectual Property”), 12
(“Confidentiality”), 13 (“Injunctive Relief”), 14 (“Agreement to Arbitrate”), 15
(“General Provisions”) and 17 (“Entire Agreement”) of this Agreement shall
survive Employee’s employment by Company indefinitely.
Page 8 of
9
Initials: Employee
_____
Company
_____
16.
Employee
to Seek Advice
. Employee acknowledges that he has been advised
and encouraged by Company to seek independent advice by counsel before executing
this Agreement.
17.
Entire
Agreement
. This Agreement, and any documents incorporated by
reference in this Agreement, constitutes the entire agreement between the
parties relating to this subject matter and supersedes all prior or simultaneous
representations, discussions, negotiations, and agreements, whether written
or
oral. This Agreement may be amended or modified only with the written
consent of Employee and the Board, including without limitation any changes
that
may be necessary to comply with the provisions of Section 409A of the Internal
Revenue Code, to the extent applicable. This Agreement may be amended
or modified only with the written consent of Employee and the Board of Directors
of Company. No oral waiver, amendment or modification will be
effective under any circumstances whatsoever.
THE
PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND
EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED
THIS AGREEMENT ON THE DATES SHOWN BELOW.
|
EMPLOYEE
|
|
|
|
|
|
Dated:
|
|
/s/ Peter
Longbons
|
|
|
|
Peter
Longbons
|
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|
|
|
|
|
|
|
|
CENTRIC
RX, INC.
|
|
|
|
|
|
Dated:
|
By:
|
/s/ James
P.R. Samuels
|
|
|
|
James
P.R. Samuels, signing on behalf of
|
|
|
|
Worldwide
Strategies Incorporated
|
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Page 9 of
9
Initials: Employee
_____
Company
_____
EXHIBIT
10.6
ASSIGNMENT
OF INTELLECTUAL PROPERTY AND INDEMNIFICATION
AGREEMENT
WITH
JEFF CRELIA DATED JULY 31, 2007
ASSIGNMENT
OF INTELLECTUAL PROPERTY
AND
INDEMNIFICATION AGREEMENT
This
of
Assignment of Intellectual Property and Indemnification Agreement (this
“
Assignment
”) is entered into as of July 31, 2007 (the “
Effective
Date
”) by and between Jeff Crelia (“
Assignor
”) and Centric Rx, Inc.,
a Nevada corporation (“
Company
”).
WHEREAS,
the Company has entered into that certain Share Exchange Agreement dated as
of
June 28, 2007, (the “
Share Exchange Agreement
”) by and between Worldwide
Strategies Incorporated, a Nevada corporation (“
WWSI
”), the Company, and
Jim Crelia, Jeff Crelia, J. Jireh, Inc., a Nevada Corporation, and Canada
Pharmacy Express, Ltd., a Canadian corporation, (collectively, the “
CENTRIC
Shareholders
”), whereby WWSI will acquire all of the issued and outstanding
shares of the Company.
WHEREAS,
Assignor has been performed work on behalf of Company and owns or may own
certain trade secrets, inventions, trademarks, service marks, logos, corporate
names, domain names, ideas, processes, customer lists, business plans, copy
rights, other works of authorship, know-how, improvements, discoveries,
developments, refinements, designs and techniques (collectively referred to
as
“
Intellectual Property
”) related to the Company and its past, present, or
future operations.
WHEREAS,
Assignor desires to transfer and assign to Company, and Company desires to
accept from Assignor any and all rights Assignor owns or may own in and to
the
Intellectual Property.
WHEREAS,
Company desires to hold harmless and indemnify, and Assignor desires to be
held
harmless and indemnified against any claims regarding ownership of or for any
actions taken by Company relating to the Intellectual Property.
NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency
of
which is hereby acknowledged, the parties hereto agree as follows:
1.
Assignment
of Intellectual Property
. Assignor hereby transfers and assigns
to Company all Intellectual Property which Assignor made, conceived, developed
or reduced to practice or caused be made, conceived, developed or reduced to
practice prior to the Effective Date, and which is directly related to the
business to be conducted by Company. Assignor agrees that, without
charge to Company, Assignor will promptly execute and deliver further documents
and perform all lawful acts necessary to transfer all rights, title and interest
in the Intellectual Property to Company.
2.
Indemnity
. Company
agrees to indemnify and hold Assignor harmless from and against any and all
charges, costs, expenses and liabilities regardless of when they arose, and
howsoever arising, and without limitation, whether arising in law or equity
under statute, regulation, governmental ordinance or otherwise, which Assignor
sustains or incurs in or in connection with or incidental to any action, claim,
demand, proceeding or suit which is brought, commenced, made or prosecuted,
or
threatened to be brought, commenced, made, or
prosecuted
against them, for or in respect of the Intellectual Property transferred to
Company, unless Assignor did not act in good faith or had reasonable cause
to believe Assignor’s conduct was unlawful with respect the Intellectual
Property. Furthermore, no indemnification shall be made in respect of
any claim, issue or matter as to which Assignor shall have been adjudged to
be
liable to Company, unless and only to the extent that a court of competent
jurisdiction shall determine that, despite the adjudication of liability but
in
view of all the circumstances of the case, Assignor is fairly and reasonably
entitled to indemnity for such expenses which the court shall deem
proper.
IN
WITNESS WHEREOF, the parties have executed this Assignment as of the date set
forth above.
|
CENTRIC
RX, INC.
|
|
|
|
|
|
|
By:
|
/s/
James P.R. Samuels
|
|
|
|
James
P.R. Samuels, signing on behalf of
|
|
|
|
Worldwide
Strategies Incorporated
|
|
|
|
|
|
EXHIBIT
10.7
ASSIGNMENT
OF INTELLECTUAL PROPERTY AND INDEMNIFICATION
AGREEMENT
WITH
GREGORY KINNEY DATED JULY 31, 2007
ASSIGNMENT
OF INTELLECTUAL PROPERTY
AND
INDEMNIFICATION AGREEMENT
This
of
Assignment of Intellectual Property and Indemnification Agreement (this
“
Assignment
”) is entered into as of July 31, 2007 (the “
Effective
Date
”) by and between Gregory Kinney (“
Assignor
”) and Centric Rx,
Inc., a Nevada corporation (“
Company
”).
WHEREAS,
the Company has entered into that certain Share Exchange Agreement dated as
of
June 28, 2007, (the “
Share Exchange Agreement
”) by and between Worldwide
Strategies Incorporated, a Nevada corporation (“
WWSI
”), the Company, and
Jim Crelia, Jeff Crelia, J. Jireh, Inc., a Nevada Corporation, and Canada
Pharmacy Express, Ltd., a Canadian corporation, (collectively, the “
CENTRIC
Shareholders
”), whereby WWSI will acquire all of the issued and outstanding
shares of the Company.
WHEREAS,
Assignor has been performed work on behalf of Company and owns or may own
certain trade secrets, inventions, trademarks, service marks, logos, corporate
names, domain names, ideas, processes, customer lists, business plans, copy
rights, other works of authorship, know-how, improvements, discoveries,
developments, refinements, designs and techniques (collectively referred to
as
“
Intellectual Property
”) related to the Company and its past, present, or
future operations.
WHEREAS,
Assignor desires to transfer and assign to Company, and Company desires to
accept from Assignor any and all rights Assignor owns or may own in and to
the
Intellectual Property.
WHEREAS,
Company desires to hold harmless and indemnify, and Assignor desires to be
held
harmless and indemnified against any claims regarding ownership of or for any
actions taken by Company relating to the Intellectual Property.
NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency
of
which is hereby acknowledged, the parties hereto agree as follows:
1.
Assignment
of Intellectual Property
. Assignor hereby transfers and assigns
to Company all Intellectual Property which Assignor made, conceived, developed
or reduced to practice or caused be made, conceived, developed or reduced to
practice prior to the Effective Date, and which is directly related to the
business to be conducted by Company. Assignor agrees that, without
charge to Company, Assignor will promptly execute and deliver further documents
and perform all lawful acts necessary to transfer all rights, title and interest
in the Intellectual Property to Company.
2.
Indemnity
. Company
agrees to indemnify and hold Assignor harmless from and against any and all
charges, costs, expenses and liabilities regardless of when they arose, and
howsoever arising, and without limitation, whether arising in law or equity
under statute, regulation, governmental ordinance or otherwise, which Assignor
sustains or incurs in or in connection with or incidental to any action, claim,
demand, proceeding or suit which is brought, commenced, made or prosecuted,
or
threatened to be brought, commenced, made, or
prosecuted
against them, for or in respect of the Intellectual Property transferred to
Company, unless Assignor did not act in good faith or had reasonable cause
to believe Assignor’s conduct was unlawful with respect the Intellectual
Property. Furthermore, no indemnification shall be made in respect of
any claim, issue or matter as to which Assignor shall have been adjudged to
be
liable to Company, unless and only to the extent that a court of competent
jurisdiction shall determine that, despite the adjudication of liability but
in
view of all the circumstances of the case, Assignor is fairly and reasonably
entitled to indemnity for such expenses which the court shall deem
proper.
IN
WITNESS WHEREOF, the parties have executed this Assignment as of the date set
forth above.
|
ASSIGNOR
|
|
|
|
|
|
|
|
/s/
Gregory Kinney
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CENTRIC
RX, INC.
|
|
|
|
|
|
|
By:
|
/s/
James P.R. Samuels
|
|
|
|
James
P.R. Samuels, signing on behalf of
|
|
|
|
Worldwide
Strategies Incorporated
|
|
|
|
|
|
EXHIBIT
10.8
ASSIGNMENT
OF INTELLECTUAL PROPERTY AND INDEMNIFICATIONS
AGREEMENT
WITH
RICK BRUGGER DATED JULY 31, 2007
ASSIGNMENT
OF INTELLECTUAL PROPERTY
AND
INDEMNIFICATION AGREEMENT
This
of
Assignment of Intellectual Property and Indemnification Agreement (this
“
Assignment
”) is entered into as of July 31, 2007 (the “
Effective
Date
”) by and between Rick Brugger (“
Assignor
”) and Centric Rx, Inc.,
a Nevada corporation (“
Company
”).
WHEREAS,
the Company has entered into that certain Share Exchange Agreement dated as
of
June 28, 2007, (the “
Share Exchange Agreement
”) by and between Worldwide
Strategies Incorporated, a Nevada corporation (“
WWSI
”), the Company, and
Jim Crelia, Jeff Crelia, J. Jireh, Inc., a Nevada Corporation, and Canada
Pharmacy Express, Ltd., a Canadian corporation, (collectively, the “
CENTRIC
Shareholders
”), whereby WWSI will acquire all of the issued and outstanding
shares of the Company.
WHEREAS,
Assignor has been performed work on behalf of Company and owns or may own
certain trade secrets, inventions, trademarks, service marks, logos, corporate
names, domain names, ideas, processes, customer lists, business plans, copy
rights, other works of authorship, know-how, improvements, discoveries,
developments, refinements, designs and techniques (collectively referred to
as
“
Intellectual Property
”) related to the Company and its past, present, or
future operations.
WHEREAS,
Assignor desires to transfer and assign to Company, and Company desires to
accept from Assignor any and all rights Assignor owns or may own in and to
the
Intellectual Property.
WHEREAS,
Company desires to hold harmless and indemnify, and Assignor desires to be
held
harmless and indemnified against any claims regarding ownership of or for any
actions taken by Company relating to the Intellectual Property.
NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency
of
which is hereby acknowledged, the parties hereto agree as follows:
1.
Assignment
of Intellectual Property
. Assignor hereby transfers and assigns
to Company all Intellectual Property which Assignor made, conceived, developed
or reduced to practice or caused be made, conceived, developed or reduced to
practice prior to the Effective Date, and which is directly related to the
business to be conducted by Company. Assignor agrees that, without
charge to Company, Assignor will promptly execute and deliver further documents
and perform all lawful acts necessary to transfer all rights, title and interest
in the Intellectual Property to Company.
2.
Indemnity
. Company
agrees to indemnify and hold Assignor harmless from and against any and all
charges, costs, expenses and liabilities regardless of when they arose, and
howsoever arising, and without limitation, whether arising in law or equity
under statute, regulation, governmental ordinance or otherwise, which Assignor
sustains or incurs in or in connection with or incidental to any action, claim,
demand, proceeding or suit which is brought, commenced, made or prosecuted,
or
threatened to be brought, commenced, made, or
prosecuted
against them, for or in respect of the Intellectual Property transferred to
Company, unless Assignor did not act in good faith or had reasonable cause
to believe Assignor’s conduct was unlawful with respect the Intellectual
Property. Furthermore, no indemnification shall be made in respect of
any claim, issue or matter as to which Assignor shall have been adjudged to
be
liable to Company, unless and only to the extent that a court of competent
jurisdiction shall determine that, despite the adjudication of liability but
in
view of all the circumstances of the case, Assignor is fairly and reasonably
entitled to indemnity for such expenses which the court shall deem
proper.
IN
WITNESS WHEREOF, the parties have executed this Assignment as of the date set
forth above.
|
ASSIGNOR
|
|
|
|
|
|
|
|
/s/
Rick
Brugger
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CENTRIC
RX, INC.
|
|
|
|
|
|
|
By:
|
/s/
James P.R. Samuels
|
|
|
|
James
P.R. Samuels, signing on behalf of
|
|
|
|
Worldwide
Strategies Incorporated
|
|
|
|
|
|
EXHIBIT
10.9
ASSIGNMENT
OF INTELLECTUAL PROPERTY AND INDEMNIFICATION
AGREEMENT
WITH
TODD HICKS DATED JULY 31, 2007
ASSIGNMENT
OF INTELLECTUAL PROPERTY
AND
INDEMNIFICATION AGREEMENT
This
of
Assignment of Intellectual Property and Indemnification Agreement (this
“
Assignment
”) is entered into as of July 31, 2007 (the “
Effective
Date
”) by and between Todd Hicks (“
Assignor
”) and Centric Rx, Inc., a
Nevada corporation (“
Company
”).
WHEREAS,
the Company has entered into that certain Share Exchange Agreement dated as
of
June 28, 2007, (the “
Share Exchange Agreement
”) by and between Worldwide
Strategies Incorporated, a Nevada corporation (“
WWSI
”), the Company, and
Jim Crelia, Jeff Crelia, J. Jireh, Inc., a Nevada Corporation, and Canada
Pharmacy Express, Ltd., a Canadian corporation, (collectively, the “
CENTRIC
Shareholders
”), whereby WWSI will acquire all of the issued and outstanding
shares of the Company.
WHEREAS,
Assignor has been performed work on behalf of Company and owns or may own
certain trade secrets, inventions, trademarks, service marks, logos, corporate
names, domain names, ideas, processes, customer lists, business plans, copy
rights, other works of authorship, know-how, improvements, discoveries,
developments, refinements, designs and techniques (collectively referred to
as
“
Intellectual Property
”) related to the Company and its past, present, or
future operations.
WHEREAS,
Assignor desires to transfer and assign to Company, and Company desires to
accept from Assignor any and all rights Assignor owns or may own in and to
the
Intellectual Property.
WHEREAS,
Company desires to hold harmless and indemnify, and Assignor desires to be
held
harmless and indemnified against any claims regarding ownership of or for any
actions taken by Company relating to the Intellectual Property.
NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency
of
which is hereby acknowledged, the parties hereto agree as follows:
1.
Assignment
of Intellectual Property
. Assignor hereby transfers and assigns
to Company all Intellectual Property which Assignor made, conceived, developed
or reduced to practice or caused be made, conceived, developed or reduced to
practice prior to the Effective Date, and which is directly related to the
business to be conducted by Company. Assignor agrees that, without
charge to Company, Assignor will promptly execute and deliver further documents
and perform all lawful acts necessary to transfer all rights, title and interest
in the Intellectual Property to Company.
2.
Indemnity
. Company
agrees to indemnify and hold Assignor harmless from and against any and all
charges, costs, expenses and liabilities regardless of when they arose, and
howsoever arising, and without limitation, whether arising in law or equity
under statute, regulation, governmental ordinance or otherwise, which Assignor
sustains or incurs in or in connection with or incidental to any action, claim,
demand, proceeding or suit which is brought, commenced, made or prosecuted,
or
threatened to be brought, commenced, made, or
prosecuted
against them, for or in respect of the Intellectual Property transferred
to
Company, unless Assignor did not act in good faith or had reasonable cause
to believe Assignor’s conduct was unlawful with respect the Intellectual
Property. Furthermore, no indemnification shall be made in respect of
any claim, issue or matter as to which Assignor shall have been adjudged
to be
liable to Company, unless and only to the extent that a court of competent
jurisdiction shall determine that, despite the adjudication of liability
but in
view of all the circumstances of the case, Assignor is fairly and reasonably
entitled to indemnity for such expenses which the court shall deem
proper.
IN
WITNESS WHEREOF, the parties have executed this Assignment as of the date set
forth above.
|
CENTRIC
RX, INC.
|
|
|
|
|
|
|
By:
|
/s/
James P.R. Samuels
|
|
|
|
James
P.R. Samuels, signing on behalf of
|
|
|
|
Worldwide
Strategies Incorporated
|
|
|
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EXHIBIT
99.1
PRESS
RELEASE DATED AUGUST 6, 2007
Worldwide
Strategies Incorporated Acquires Centric Rx
DENVER, Colorado,
August 6, - Worldwide Strategies Incorporated (WWSG.OB - News)
announced today that they have acquired Centric Rx, a Nevada Corporation based
in Las Vegas, Nevada. Centric Rx is a health and pharmaceutical
services company which provides a fully integrated offering of discount
pharmacy, health, and insurances services. They plan to have closed pharmacy
services for individual medical maintenance support and homeopathic products
of
both private label and generic brands. These products are offered to
associations i.e. faith based, industrial, alumni, and athletic associations
as
well as individuals with special needs to provide health and medical services
for those who do not have insurance or are underinsured.
Mr.
James
P.R. Samuels, CEO and President of Worldwide Strategies Inc., states, "Centric
Rx provides a fully integrated health and pharmacy services platform and company
that will be supported by our call center expertise.”
Mr.
Jim
Crelia, President of Centric Rx, states, “Our new association with Worldwide
Strategies Inc. will provide for us the opportunity to significantly increase
the memberships from the 24 million lives that we will be serving to a much
greater number in a very short term. Our focus is the uninsured and
the underinsured individual. Our goal is to make a difference in
their lives on health and pharmacy services through discounts of 30% to
70%. In many cases for the lives that we touch this is the difference
between having access to affordable medicine or no medical care at
all.”
Worldwide
Strategies
Worldwide
Strategies, Inc. is a publicly traded firm (symbol: WWSG.OB) with World
Headquarters in Denver, Colorado, USA; offices in Egham, England and affiliated
call centers located in the USA, Central America, and South
America. Worldwide Strategies Inc. provides call center software
platforms and business supporting services through our wholly owned subsidiary
Worldwide Business Solutions, Inc (WBSI), they also outsource selected client
services to their domestic and multilingual international centers.
For
more
information, contact DSN Enterprises Inc- 8200 East Pacific Place, # 403,
Denver, CO 80231, USA | Phone: 303-863-9663| or visit
www.wideinc.com
Safe Harbor
Statement
Certain
information included in this release contains "forward-looking statements."
The
forward-looking statements may relate to financial results and plans for future
business activities and are thus prospective. The forward-looking statements
are
subject to risks, uncertainties and other factors that could cause actual
results to differ materially from future results expressed or implied by the
forward-looking statements. You are cautioned that, while forward-looking
statements reflect our good faith belief and best judgment based upon current
information, they are not guarantees of future performance and are subject
to
known and unknown risks and uncertainties.
Source:
Worldwide Strategies Inc