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EXHIBIT 10.16
CONSULTING AGREEMENT BETWEEN
XXXX XXXXXX DIRECT, INC.
AND XXXX XXXXXX
THIS CONSULTING AGREEMENT is made as of the 2nd day of June, 1999
between XXXX XXXXXX DIRECT, INC. and its successors or assigns (the
"Corporation") and XXXX XXXXXX ("Consultant").
WHEREAS, the Corporation is in need of the special expertise of
Consultant in connection with general financial and related matters; and
WHEREAS, Consultant is recognized for its credentials, judgment and
experience in such fields, and the parties desire to enter into this Agreement
for their mutual benefit.
1. RESPONSIBILITIES OF CONSULTANT. In consideration for the benefits
provided in paragraph 2 of this Agreement:
(a) Consultant will be designated a corporate consultant to
the Corporation;
(b) Consultant will provide general financial and related
consulting services to the Corporation; and
(c) Consultant will be available on as needed basis in order
to perform such duties for the Corporation as are herein identified.
2. COMPENSATION TO CONSULTANT. In consideration for the consulting
services provided by Consultant as specified in Section 1 above, and other good
and valuable consideration, the Corporation agrees to issue to Consultant or its
designee, on June 3, 1999, 50,000 shares of the common stock of the Corporation
(the "Shares") as full payment for the services to be rendered hereunder.
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3. REGISTRATION ON FORM S-8. The Corporation agrees to cause the Shares
to be registered under the Securities Act of 1933, as amended, by including the
Shares in a registration statement on Form S-8 to be filed by the Corporation
with the Securities and Exchange Commission within thirty (30) days of June 3,
1999. All expenses incurred in connection with the registration of the Shares
shall be paid by the Corporation. In the event that the S-8 Registration
Statement is not filed and effective within thirty (30) days from and after June
2, 1999, the Company hereby agrees to pay an additional $10,000.00 in cash for
failing to file such Registration Statement and for each additional 30-day
period thereafter that such Registration Statement is not filed the Company
hereby agrees to make a payment in the amount of $5,000.00 to the Consultant.
4. DURATION. This Agreement will be in effect for a period commencing
on the date hereof and ending on June 2, 2000.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first set forth above.
XXXX XXXXXX DIRECT, INC.
By:_____________________________________
Name: Xxxxxxx X. Xxxxxxxxx
Title: President and Chief Executive
Officer
_______________________________________
Xxxx Xxxxxx
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