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VerifyMe, Inc. – ‘10-Q’ for 9/30/22 – ‘EX-10.1’

On:  Thursday, 11/10/22, at 4:39pm ET   ·   For:  9/30/22   ·   Accession #:  1214659-22-13506   ·   File #:  1-39332

Previous ‘10-Q’:  ‘10-Q’ on 8/15/22 for 6/30/22   ·   Next:  ‘10-Q’ on 5/11/23 for 3/31/23   ·   Latest:  ‘10-Q’ on 5/14/24 for 3/31/24   ·   4 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/10/22  VerifyMe, Inc.                    10-Q        9/30/22   71:5.9M                                   Securex Filings/FA

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.11M 
 2: EX-10.1     Material Contract                                   HTML     27K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     21K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     21K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     21K 
11: R1          Cover                                               HTML     77K 
12: R2          Balance Sheets (Unaudited)                          HTML    129K 
13: R3          Balance Sheets (Unaudited) (Parenthetical)          HTML     44K 
14: R4          Statements of Operations (Unaudited)                HTML    106K 
15: R5          Statements of Cash Flows (Unaudited)                HTML    118K 
16: R6          Statement of Stockholders' Equity (Unaudited)       HTML    107K 
17: R7          Summary of Significant Accounting Policies          HTML     74K 
18: R8          Equity Investments                                  HTML     34K 
19: R9          Revenue                                             HTML     61K 
20: R10         Business Combination                                HTML     50K 
21: R11         Intangible Assets and Goodwill                      HTML     68K 
22: R12         Stockholders? Equity                                HTML     54K 
23: R13         Stock Options, Restricted Stock and Warrants        HTML    107K 
24: R14         Debt                                                HTML     30K 
25: R15         Loss Contingency                                    HTML     24K 
26: R16         Income Taxes                                        HTML     28K 
27: R17         Long Term Derivative Liability                      HTML     24K 
28: R18         Leases                                              HTML     46K 
29: R19         Concentrations                                      HTML     27K 
30: R20         Segment Reporting                                   HTML     50K 
31: R21         Subsequent Events                                   HTML     23K 
32: R22         Summary of Significant Accounting Policies          HTML    106K 
                (Policies)                                                       
33: R23         Summary of Significant Accounting Policies          HTML     33K 
                (Tables)                                                         
34: R24         Revenue (Tables)                                    HTML     55K 
35: R25         Business Combination (Tables)                       HTML     43K 
36: R26         Intangible Assets and Goodwill (Tables)             HTML     64K 
37: R27         Stock Options, Restricted Stock and Warrants        HTML     96K 
                (Tables)                                                         
38: R28         Leases (Tables)                                     HTML     46K 
39: R29         Segment Reporting (Tables)                          HTML     44K 
40: R30         Summary of Significant Accounting Policies          HTML     40K 
                (Details)                                                        
41: R31         Summary of Significant Accounting Policies          HTML     34K 
                (Details Narrative)                                              
42: R32         Equity Investments (Details Narrative)              HTML     63K 
43: R33         Revenue (Details)                                   HTML     46K 
44: R34         Business Combination (Details)                      HTML     68K 
45: R35         Business Combination (Details 1)                    HTML     22K 
46: R36         Business Combination (Details Narrative)            HTML     40K 
47: R37         Intangible Assets and Goodwill (Details)            HTML     25K 
48: R38         Intangible Assets and Goodwill (Details 1)          HTML     43K 
49: R39         Intangible Assets and Goodwill (Details 2)          HTML     35K 
50: R40         Intangible Assets and Goodwill (Details Narrative)  HTML     21K 
51: R41         Stockholders? Equity (Details Narrative)            HTML     90K 
52: R42         Stock Options, Restricted Stock and Warrants        HTML     46K 
                (Details)                                                        
53: R43         Stock Options, Restricted Stock and Warrants        HTML     35K 
                (Details 1)                                                      
54: R44         Stock Options, Restricted Stock and Warrants        HTML     35K 
                (Details 2)                                                      
55: R45         Stock Options, Restricted Stock and Warrants        HTML     33K 
                (Details 3)                                                      
56: R46         Stock Options, Restricted Stock and Warrants        HTML     51K 
                (Details 4)                                                      
57: R47         Stock Options, Restricted Stock and Warrants        HTML     75K 
                (Details Narrative)                                              
58: R48         Debt (Details Narrative)                            HTML     34K 
59: R49         Income Taxes (Details Narrative)                    HTML     33K 
60: R50         Long Term Derivative Liability (Details Narrative)  HTML     31K 
61: R51         Leases (Details)                                    HTML     26K 
62: R52         Leases (Details 1)                                  HTML     34K 
63: R53         Leases (Details 2)                                  HTML     42K 
64: R54         Concentrations (Details Narrative)                  HTML     40K 
65: R55         Segment Reporting (Details)                         HTML     64K 
66: R56         Subsequent Events (Details Narrative)               HTML     28K 
69: XML         IDEA XML File -- Filing Summary                      XML    125K 
67: XML         XBRL Instance -- vm11622110q_htm                     XML   1.44M 
68: EXCEL       IDEA Workbook of Financial Reports                  XLSX    133K 
 7: EX-101.CAL  XBRL Calculations -- vrme-20220930_cal               XML    156K 
 8: EX-101.DEF  XBRL Definitions -- vrme-20220930_def                XML    624K 
 9: EX-101.LAB  XBRL Labels -- vrme-20220930_lab                     XML    986K 
10: EX-101.PRE  XBRL Presentations -- vrme-20220930_pre              XML    793K 
 6: EX-101.SCH  XBRL Schema -- vrme-20220930                         XSD    153K 
70: JSON        XBRL Instance as JSON Data -- MetaLinks              359±   509K 
71: ZIP         XBRL Zipped Folder -- 0001214659-22-013506-xbrl      Zip    255K 


‘EX-10.1’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 

Exhibit 10.1

 

Certain information in this exhibit marked [*] has been excluded from the exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

 

AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT

 

THIS AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT (this “Amendment”), made effective as of the date of October 1, 2022 (“Effective Date”) is entered into by and between FEDEX CORPORATE SERVICES, INC., (“FedEx”) and PERISHIP, LLC (“Contractor”).

 

RECITALS

 

1.FedEx and Contractor entered into that certain Professional Services Agreement dated June 1, 2019 (the “Agreement”).

 

2.FedEx and Contractor now desire to further amend the Agreement.

 

FOR AND IN CONSIDERATION of the mutual covenants contained in this Amendment, FedEx and Contractor (collectively, the “Parties”) agree as follows:

 

1.Section 1.01 of the Agreement and every SOW executed under the Agreement is hereby deleted in its entirety and replaced with the following:

 

Section 1.01. Scope of Work. In consideration of FedEx’s payments under this Agreement, Contractor shall perform in accordance with the terms of this Agreement the services described in Exhibit A (the “Services”).

 

2.Section 2.01 of the Agreement is modified as follows:

 

Expiration Date is changed from March 1, 2024 to March 1, 2026.

 

3.Except as otherwise provided in this Amendment, all words and definitions used in this Amendment shall have the same meaning in this Amendment as in the Agreement.

 

4.Other than as provided in this Amendment, all terms and provisions of the Agreement are hereby ratified and confirmed.

 

IN WITNESS WHEREOF, the Parties hereby execute this Amendment effective as of the Effective Date.

 

     
PERISHIP, LLC   FEDEX CORPORATE SERVICES, INC.
     
     
By: /s/ Curt Kole   By: /s/ Dennis Shirokov
         
Title: EVP, Sales & Strategy   Title: VP Marketing
         
Date: 8/24/2022   Date: 8/25/2022
  (“Contractor”)     (“FedEx”)

 

 C: 
  
 

 

EXHIBIT A

 

Scope of Work

 

Services provided by and responsibilities of PeriShip:

 

1.Provide dedicated proactive customer service and communications as agreed to by FedEx and customer for all shipments entered into the PeriShip network.

 

2.Provide AM/PM shipment status updates and provide potential issue resolution options.

 

3.Provide customized weather updates and potential impact advisories of weather-related events and network congestion.

 

4.Provide call center/on-call services and operational support for in-transit shipments i.e.: DEX3 (address corrections, DEX8 (delivery reattempts) exception reporting, etc.

 

5.Provide proactive, near real-time reporting for agreed to events.

 

6.Participate in daily/weekly conference calls for review of activities, advance planning and issue resolution as directed by FedEx and customer.

 

7.PeriShip will provide FedEx with historical label consumption data and customer shipping locations (ahead of the bulk shipment distribution dates)

 

8.If outside of the bulk shipment distribution dates, PeriShip will own complete label distribution, shipping costs and communication with those customers.

 

FedEx responsibilities:

 

1.FedEx will identify to PeriShip from time to time the customers and customer locations that are eligible for use of the Services. The identification and potential removal of these customers and customer locations shall be at the discretion of FedEx. For the avoidance of doubt, the terms of this Agreement do not apply to direct relationships between Periship and customers of FedEx.

 

2.FedEx will create, at its own expense and provide to customers custom labels to be placed by customers on each package utilizing the Services. Parties agree FedEx may make changes to the label content, format, usage and quantity distributed to customers and may test an integrated label that removes the need for the second label.

 

Payment:

 

In consideration of the Services set forth herein, FedEx will pay to PeriShip $[*] per package shipped by a FedEx customer utilizing the PeriShip Services.

 

 

 

 

 

 


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
3/1/26
3/1/24
Filed on:11/10/228-K
10/1/22
For Period end:9/30/22
6/1/19
 List all Filings 


3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/25/24  VerifyMe, Inc.                    ARS        12/31/23    1:1M                                     Securex Filings/FA
 3/29/24  VerifyMe, Inc.                    10-K       12/31/23   89:8M                                     Securex Filings/FA
 3/28/23  VerifyMe, Inc.                    10-K       12/31/22   84:7.1M                                   Securex Filings/FA


1 Previous Filing that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 9/27/22  VerifyMe, Inc.                    8-K:1,2,7,9 9/21/22   18:825K                                   Securex Filings/FA
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Filing Submission 0001214659-22-013506   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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