Exhibit 4.1
COMPENSATION AGREEMENT
This Compensation Agreement is dated as of July 15, 2004 among Secured
Digital Applications, Inc., a Delaware corporation (the "Company") and Xxxxx
Xxxxx Xxxxx ("Consultant").
WHEREAS, the Company has requested the Consultant to provide the Company
with consulting services in the area of business development use of information
communications technologies and biometric applications in public and private
sectors, international relations and industrial relations, and the Consultant
has agreed to provide the Company with such services; and
WHEREAS, the Company wishes to compensate the Consultant with shares of its
common stock for such services rendered;
NOW THEREFORE, in consideration of the mutual covenants hereinafter stated,
it is agreed as follows:
1. The Company will issue 960,000 shares of the Company's common stock, $.00001
par value per share, to Consultant. The shares shall be issued in four equal
installments of 240,000 shares on July 15, 2004, October 15, 2004, January 15,
2005 and April 15, 2005. The shares to be issued shall represent payment of the
balance due in the amount of $268,800 for consulting services rendered to the
Company.
2. The above compensation shall be registered using a Form S-8. The Company
shall file such Form S-8 with the Securities and Exchange Commission within 30
days of the execution of this agreement.
IN WITNESS WHEREOF, this Compensation Agreement has been executed by the
Parties as of the date first above written.
SECURED DIGITAL APPLICATIONS, INC.
/s/Xxxxxxx Soon-Xxxx Xxx
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Xxxxxxx Soon-Xxxx Xxx
Chairman
/s/ Xxxxx Xxxxx Xxxxx
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Xxxxx Xxxxx Xxxxx
