CONSULTING AGREEMENT - between Sport Technology Inc/Michael Kern.
This consulting agreement (the “ Agreement ”) is made and entered into as of April 6 th , 2012 by and between Sport Technology Inc/Michael Kern., an California Corporation and FBC Holding A Delaware Corporation
This is to confirm the terms of our agreement to provide consulting services to FBC Holding The services would include the following functional areas:
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Business plan development
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Strategic planning
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Organizational development
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Business development (new markets, channels, sales rep network, etc.)
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Product roadmap/priorities
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Pricing analysis
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Marketing & Sales
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Overseas Production and planning
Sport Technology/Michael Kern would provide forty hours minimum per week of work. These services would be provided until April 6 th , 2014. In return, FBC Holding will provide the following compensation:
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FBC Holding will pay Sport Technology/Michael Kern 2% of all FBC Holding sales. Commissions will be paid on the 10 th of each month on invoices paid on the prior month.
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FBC Holding will transfer 5% equity/stock at the current value on signing of this agreement to Michael Kern to..
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FBC Holding will pay for any pre-approved travel expenses incurred by Michael Kern and any other reasonable expenses needed for FBC Holding by Michael Kern.
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FBC Holding will pay $5,000 per month to Michael Kern starting with the execution of this agreement and will be paid thereafter on the 6 th day of each consecutive month.
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This agreement will be in conjunction with THE LICENSING AGREEMENT by and between the same parties dated April 6 th , 2012, and both agreements will be executed upon payment of initial $5,000 for 1 st months payment.
