EXHIBIT 10.3
SUPPLEMENT TO CONSULTING AGREEMENT
SUPPLEMENT TO CONSULTING AGREEMENT made as of June 1, 2001, to
Consulting Agreement made as of October 1, 2000, by and between Madison Venture
Capital II, Inc., a New York corporation with offices at 000 Xxxx 00xx Xxxxxx -
00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 (hereinafter referred to as "Consultant")
and XXXX.xxx, Inc., Inc., a Delaware corporation with offices at c/o Port
Motors, 0000 Xxxxxxxx Xxxxxxxxx, Xxxxxx, Xxx Xxxx 00000 (hereinafter referred to
as the "Company").
WHEREAS, the Company and the Consultant have entered into a consulting
agreement, dated as of as of October 1, 2000 (the "Consulting Agreement"; and
WHEREAS, the Company and the Consultant desire to amend and supplement
the Consulting Agreement;
NOW, THEREFORE, in consideration of the mutual covenants and conditions
herein contained and the acts herein described, it is agreed between the parties
as follows:
1. All defined terms not defined herein shall have the
meaning given them in the Consulting Agreement.
2. The five (5) year term of the Consulting Agreement
shall commence on October 1, 2001 and ending September 30, 2006 and no
consulting fees under Section 3(i) shall be due, payable or accrue before
October 1, 2001.
3. All of the other terms and conditions of the
Consulting Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused these presents to be
signed and their respective seals to be hereunto affixed the day and year first
above written.
Madison Venture Capital II, Inc.
By: /s/ XX. XXXXXX XXXXXXXX
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Xx. Xxxxxx Xxxxxxxx, President
XXXX.xxx, Inc.
By: /s/ XXXXX XXXXX
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Xxxxx Xxxxx, President
