Addendum to 2020 Independent Contractor Agreement between MJ Harvest, Inc. and Nexit, Inc.

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Summary

This addendum updates the 2020 Independent Contractor Agreement between MJ Harvest, Inc. and Nexit, Inc. It extends the contract through December 31, 2022, adjusts how share compensation is calculated, lowers the upcharge for restricted securities to 20%, and makes contractors responsible for their own legal opinion fees related to trading shares. The company may withhold future share issuances until any owed reimbursements are paid. All other terms from the original agreement remain unchanged. The addendum is effective from January 1, 2021, and governs share compensation through the end of 2022.

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EX-10.4 5 sfsmjhi10k092122ex10_4.htm

Exhibit 10.4

 

ADDENDUM TO

2020 INDEPENDENT CONTRACTOR AGREEMENT

 

 

 

This Addendum modifies the Independent Contractor Agreement between MJ Harvest, Inc. (“MJHI” or the “Company”) and Contractor which covered calendar year 2020. The Addendum modifies the contract in the following ways:

 

1.The Contract term is extended through December 31, 2022.
2.The price at which the shares are calculated is the closing price of the MJHI common stock on the OTCQB market (or other public stock market if applicable) on the day the shares become issuable.
3.The upcharge factor for issuance of restricted securities is changed to 20%, from 30% used in 2020.
4.Each contractor is responsible for payment of their own legal opinion charges incurred to trade their shares in the OTCQB Market, and if such charges are billed to the Company, the Company will expect reimbursement from the contractor. Contractor agrees that the Company may withhold future issuances of share compensation until such legal opinion reimbursements are paid by Contractor to Company, if any are due.
5.All other terms of the 2020 Independent Contractor Agreement remain in effect.

 

This Addendum is effective as of January 1, 2021 regardless of the date on which it is actually signed by the parties. This Addendum will control issuance of shares as compensation for the period from January 1, 2021 through December 31, 2022.

 

Agreed to:

 

 

MJ HARVEST, INC. CONTRACTOR
   
   
________________________________________ ____________________________________
Patrick Bilton, Chief Executive Officer          Date Brad E. Herr, President of Nexit, Inc.         Date