EX-10.80 3 v07729_ex10-80.txt This Consulting Agreement is made as of the _1st day of August, 2004 BETWEEN: YVAN COESSENS, Consultant, of the City of Asper, in the country of Belgium (hereinafter referred to as "Coessens") OF THE FIRST PART AND IVP TECHNOLOGY CORPORATION, a corporation incorporated pursuant to the laws of the State of Nevada (hereinafter referred to as "IVP") OF THE SECOND PART WHEREAS IVP is involved in an exercise to grow its investor base; AND WHEREAS Coessens can facilitate the process of increasing its investor base by acting as a promoter in Europe; NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises, the mutual agreements and covenants herein contained and for other good and valuable consideration now paid by each of the parties hereto to the other (the receipt and sufficiency of which is hereby acknowledged), the parties hereto agree as follows: 1. APPOINTMENT. IVP hereby engages Coessens and Coessens agrees to render services to IVP as a consultant upon the terms and conditions hereinafter set forth. 2. TERM The term of this Consulting Agreement shall begin as of the date of this Agreement, and shall terminate on July 31st, 2005, unless earlier terminated in accordance with paragraph 7 herein or extended as agreed to between parties. 3. SERVICES During the term of this Agreement, Coessens shall provide advice to, undertake for and consult with IVP concerning management of investor messages, positioning and relations with investors in connection with the operation of the businesses of IVP, expansion of services, acquisitions and business opportunities, and shall review and advise IVP regarding its overall progress, needs and condition. Coessens agrees to provide on a timely basis the following enumerated services contemplated thereby: (a) The implementation of short-range and long-term strategic investor relations planning to fully develop and enhance IVP's investor marketing. 4. DUTIES OF IVP IVP shall provide Coessens, on a regular and timely basis, with all approved data and information about it, its subsidiaries, its management, its products and services and its operations as shall be reasonably requested by Coessens, and shall advise Coessens of any facts which would effect the accuracy of any data and information previously supplied pursuant to this paragraph. IVP shall promptly supply Coessens with full and complete copies of financial reports, all filings with all federal and state securities agencies; with full and complete copies of all stockholder reports; with all data and information supplied by any financial analyst, and with all brochures or other sales materials relating to its products or services that are in the public domain. 5. COMPENSATION In consideration for the provision of the consulting services described in paragraph 3 hereinabove, IVP will issue and deliver one hundred and fifty thousand (150,000) shares of IVP's Common Stock to Coessens (the "Shares"). The parties hereto agree that the Shares shall be issued to Coessens on a fully paid and non-assessable basis in consideration for services rendered by Coessens to IVP and that the Shares shall bear the appropriate legend restricting the transfer of the Shares as required by Rule 144 as promulgated pursuant to the terms of the Securities Act of 1933. 6. REPRESENTATION AND INDEMNIFICATION. IVP shall be deemed to have made a continuing representation of the accuracy of any and all facts, material information and data which it supplies to Coessens and acknowledges its awareness that Coessens will rely on such continuing representation in disseminating such information and otherwise performing its advisory functions. Coessens in the absence of notice in writing from IVP will rely on the continuing accuracy of material, information and data supplies to IVP. Coessens represents that he has knowledge of and is experienced in providing the aforementioned services. 7. LIMITATION OF LIABILITY In the event that either party shall be liable to the other pursuant to the terms of this Consulting Agreement for any failure to perform in connection with this Consulting Agreement, that party's liability shall be limited as follows: (a) All liabilities in contract and tort for direct loss shall be limited to the actual value of the shares paid in the year of the claim; and (b) All liabilities in contract and in tort for incidental, indirect, special or consequential damages including, but not limited to, loss of revenues or profits shall be excluded. 8. CONFIDENTIAL INFORMATION Each party may use the information received from the other party pursuant to this Consulting Agreement and may provide such information to their respective employees as applicable for their use only in connection with the Agreement. Each party agrees that it shall use the same means it uses to protect its own confidential and proprietary information to prevent the disclosure and to protect the confidentiality of both (i) written information received from the other party which is marked or identified as "confidential", (ii) written or verbal information which is of its nature confidential; and (ii) oral or visual information identified as confidential at the time of disclosure which is reduced to written form and provided to the other in such written form promptly after such oral or visual disclosure, The foregoing shall not prevent either party from disclosing Information that is: (iii) already known by the recipient party prior to the disclosure thereof with no obligation of confidentiality; (iv) publicly known or becomes publicly known not due to any unauthorized act of the recipient party; (v) rightfully received from a third party; (vi) independently developed by the recipient party without use of the other party's Information; (vii) disclosed without similar restrictions by the party owning the Information to any third party; (viii) approved by the other party for disclosure; or (ix) required to be disclosed pursuant to a governmental or legal requirement provided that the disclosing party gives to the other party written notice of such requirement prior to any such disclosure. Upon expiration or termination of the Consulting Agreement or upon written request of the party providing the Information, the other party shall return all copies of the Information to the providing party or certify in writing that all copies of the Information have been destroyed. Either party may return the Information, or any part of it, to the other party at any time. Each party makes no warranty, express or implied, with respect to the Information. Neither party shall be liable to the other or to any other person hereunder for amounts representing loss of profits or loss of business or indirect, consequential or punitive damages of the other party or of such other person in connection with the provision or use of the Information hereunder. Nothing contained in this Agreement shall be construed as granting or conferring any rights by license or otherwise in the Information. Each party acknowledges and agrees that the Information is the confidential and/or proprietary and/or trade secret information of the other and the unauthorized use or disclosure of the Information could cause irreparable harm and significant injury to the other party for which that other party would have no adequate remedy at law. Therefore each party shall have the right, in addition to any other rights it may have at law or in equity, to seek and obtain immediate injunctive relief in respect of any breach or potential breach of this Consulting Agreement by the other. The provisions of this Clause 6 shall survive the expiry or termination for whatever reason of this Consulting Agreement. 9. MISCELLANEOUS Termination: This Consulting Agreement may be terminated by either Party upon written notice to the other Party for any reason which shall be effective five (5) business days from the date of such notice. This Consulting Agreement shall be terminated immediately upon written notice for material breach of this Consulting Agreement. Modification: This Consulting Agreement sets forth the entire understanding of the Parties with respect to the subject matter hereof. This Consulting Agreement may be amended only in writing signed by both Parties. Counterparts: This consulting agreement may be executed in any number of counterparts by original or facsimile signature by the authorized officer of IVP and Coessens each of which counterparts, when executed and delivered, shall be an original but such counterparts together shall constitute one and the same instrument. Notices: Any notice required or permitted to be given hereunder shall be in writing and shall be mailed or otherwise delivered in person or by facsimile transmission at the address of such Party set forth above or to such other address or facsimile telephone number as the Party shall have furnished in writing to the other Party. Waiver: Any waiver by either Party of a breach of any provision of this Consulting Agreement shall not operate as or be construed to be a waiver of any other breach of that provision or of any breach of any other provision of this Consulting Agreement. The failure of a Party to insist upon strict adherence to any term of this Consulting Agreement on one or more occasions will not be considered a waiver or deprive that Party of the right thereafter to insist upon adherence to that term of any other term of this Consulting Agreement. Severability: If any provision of this Consulting Agreement is invalid, illegal, or unenforceable, the balance of this Consulting Agreement shall remain in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and circumstances. Disagreements: Any dispute or other disagreement arising from or out of this Consulting Agreement shall be submitted to arbitration under the rules of the American Arbitration Association and the decision of the arbiter(s) shall be enforceable in any court having jurisdiction thereof. Arbitration shall occur only in the State of Nevada. The interpretation and the enforcement of this Agreement shall be governed by Nevada Law as applied to residents of the State of Nevada relating to contracts executed in and to be performed solely within the State of Nevada. In the event any dispute is arbitrated, the prevailing Party ( as determined by the arbiter(s)) shall be entitled to recover that Party's reasonable attorney's fees incurred ( as determined by the arbiter(s)). IN WITNESS THEREOF, this Consulting Agreement has been executed by the Parties as of the date first above written. IVP Technology Corporation -------------------------- Brian MacDonald, Chairman and CEO ---------------------- ----------------------- Witness Yvan Coessens