http://biz.yahoo.com/e/130308/also8-k.html
8-Mar-2013
Entry into a Material Definitive Agreement, Change in Directors or
Item 1.01 Entry into a Material Definitive Agreement.
On March 4, 2013, Infinity Augmented Reality, Inc. (formerly known as Absolute Life Solutions, Inc.) (the "Company") entered into an agreement with Agam Technologies LLC ("Agam"), pursuant to which Agam agreed to provide augmented reality game development and game integration consulting services for the Company's augmented reality activities. In consideration of the consulting services, Agam shall be entitled to receive a one-off fee of 5,500,000 Non-Qualified Stock Options (the "Options"). 1,750,000 Options shall be issued upon effective date of their agreement and the balance shall be issued within 5 days after the Company has received all necessary authorizations and consents for its 2013 Equity Incentive Plan. The Options have an exercise price of $0.10 vesting on March 4, 2013 and expiring on March 5, 2018.
On March 4, 2013, the Company entered into an agreement with Gili Revensary individually and as, Managing Member of GiliTech LLC ("GiliTech") pursuant to which GiliTech agreed, to provide augmented reality location recognition consulting services for the Company's augmented reality activities. In consideration of the consulting services, Gili Revensary shall be entitled to receive a one-off fee of 6,000,000 Non-Qualified Stock Options (the "Options"). 3,000,000 Options shall be issued upon effective date of his agreement and the balance shall be issued within 5 days after the Company has received all necessary authorizations and consents for its 2013 Equity Incentive Plan. The Options have an exercise price of $0.10 vesting on March 4, 2013 and expiring on March 5, 2018.
On March 4, 2013, the Company entered into an agreement with SmartEyes Technologies LLC ("SmartEyes"),pursuant to which SmartEyes agreed to provide augmented reality image recognition, social networking and facebook integration consulting services for the Company's augmented reality activities. In consideration of the consulting services,SmartEyes shall be entitled to receive a one-off fee of 5,000,000 Non-Qualified Stock Options (the "Options"). 1,350,000 Options shall be issued upon effective date of their agreement and the balance shall be issued within 5 days after the Company has received all necessary authorizations and consents for its 2013 Equity Incentive Plan. The Options have an exercise price of $0.10 vesting on March 4, 2013 and expiring on March 5, 2018.
On March 4, 2013, the Company entered into an agreement with XO Marketing LLC ("XO") pursuant to which XO agreed to provide augmented reality marketing and social media integration consulting services for the Company's augmented reality activities. In consideration of the consulting services, XO shall be entitled to receive a one-off fee of 5,500,000 Non-Qualified Stock Options (the "Options"). 1,750,000 Options shall be issued upon effective date of their agreement and the balance shall be issued within 5 days after the Companyhas received all necessary authorizations and consents for its 2013 Equity Incentive Plan. The Options have an exercise price of $0.10 vesting on March 4, 2013 and expiring on March 5, 2018.
On March 4, 2013, the Company entered into an agreement with Yossi Shemesh pursuant to which Shemesh agreedto provide augmented reality face recognition consulting services for the Company's augmented reality activities. In consideration of the consulting services, Shemesh shall be entitled to receive a one-off fee of 600,000 Non-Qualified Stock Options (the "Options"). 200,000 Options shall be issued upon effective date of his agreement and the balance shall be issued within 5 days after the Company has received all necessary authorizations and consents for its 2013 Equity Incentive Plan. The Options have an exercise price of $0.10 vesting on March 4, 2013 and expiring on March 5, 2018.
In addition to detailing the services provided, each of these agreements contains provisions recognizing the Company's intellectual property rights and restricting the consultants' competition with the Company subsequent to the termination of the agreements..