November 23, 2005
Exhibit 10.14
00000 Xxxxx Xxxxxx Xxxx Xxxxx 000 Xxx Xxxxxxx, XX 00000
Tel (000) 000-0000 Fax (000) 000-0000
xxx.xxxxxxxxxxxxxxxx.xxx
November 23, 2005
Xx. Xxxxxx Xxxxxx
0000 Xxxxxxx Xxxxxx
Xxx Xxxxxxxxx, XX 00000
Dear Xx. Xxxxxx:
This Letter Agreement sets forth the terms under which you agree to act as a marketing and strategic planning advisor for XxXxxxxxxXxxxxxx.xxx ("MMR"), effective on the last date executed below. As such, you will seek actively strategic partnerships and alliances with other entities to market MMR's products and services.
Under this Agreement, MMR agrees to compensate you for your services as follows:
(1) $50,000 per year payable monthly starting the earlier of the date MMR raises Two Million Dollars ($2,000,000) in equity and January 1, 2006.
(2) Commissions in the amount of one percent (1%) of revenue generated directly through your efforts, payable on net cash receipts received from those clients, quarterly 30 days following the end of each quarter.
Either party may terminate this Agreement upon thirty (30) days prior written notice. This Agreement will renew automatically for successive one year periods unless terminated by either party. The parties are aware of Xx. Xxxxxx'x directorship on the board of MMR and understand that this relationship is independent of that directorship and that compensation under this Agreement is not consideration for that directorship. This Agreement is governed by the laws of the State of California without regard to that state's choice of law doctrine.
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XxXxxxxxxXxxxxxx.xxx By: /s/ Xxxxxx X. Xxxxxx 11/23/2005 Title: CEO |
Xx. Xxxxxx Xxxxxx By: /s/ Xxxxxx Xxxxxx 11/23/2005
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