CONSULTING AGREEMENT
This Agreement entered into as of June 13, 2003 acknowledges and confirms the
terms of our public relations agreement (the "Agreement") as follows:
Eternal Technologies Group, Inc. (OTC BB:ETLT.OB) (The "Company") hereby engages
PIRANHA, INC. (the "Consultant") and consultant hereby agrees to render services
to Eternal Technologies Group, Inc. (OTC BB:ETLT.OB), Xxxxx 00-00, 00/X, Xxxxx
X, Xxxxxxx Xxxxx, 235 Nanjing Road, Heping District, Tianjing, China, the
company as its public relations consultant.
1. During the Term of this Agreement the consultant shall provide to company
consulting services for a period of six months designed to assist Company in
disseminating information concerning the Company's business to the investing
public by the use of the Internet and many other media tools to bring the
company exposure.
2. Payments for Services. In consideration for Consultant entering into this
Agreement, Consultant will receive upon the execution of this Agreement, 250
thousand shares of the Company's (ETLT) common stock the "Shares"). The Shares
will be "freely tradeable and "unrestricted" in the hands of the Consultant upon
receipt and be available for public sale by available exemption, all in
compliance with the Securities Act of 1933, as amended (the "Act"), and all
other applicable federal and state securities laws and regulations. The Company
shall also provide Consultant with an opinion of United States securities
counsel to the foregoing effect.
3. Consultant will not disclose to any other person, firm, or corporation, nor
use for its own benefit, during or after the term of this Agreement, any trade
secrets of other information designated as confidential by the Company which is
acquired by the Consultant in the course of performing services hereunder. (A
trade secret is information not generally known to the trade, which gives the
company an advantage over its competitors).
4. The Company agrees to indemnify and hold Consultant, its affiliates, control
persons, officers, employees, attorneys and agents, (collectively, the
"Indemnified Persons") harmless from and against loss, claims, damages,
liabilities, costs or expenses including reasonable attorney's and accountant's
fees joint and several arising out of the performance of this Agreement, whether
or not Consultant is a party to such dispute. The Company agrees that it shall
also reimburse the Indemnified Persons for any attorney'
5. This indemnity shall not apply, however, where a court of competent
jurisdiction has made a final determination that Consultant engaged in gross
recklessness and willful misconduct in the performance of its service hereunder
which gave rise to loss, claim, damage, liability, cost or exposure sought to be
recovered hereunder. (But pending any such final determination, the
indemnification and reimbursement provision of this Agreement shall apply and
the Company shall perform its obligations hereunder to reimburse Consultant for
its attorney's fees and expenses).
6. This Agreement sets forth the entire understanding of the parties relating to
the subject matter hereof, and superceds and cancels any prior communications,
understandings, and agreements between the parties. This Agreement cannot be
modified or changed, nor can any of its provision be waived, except by written
agreement signed by all parties.
IN WITNESS WHEREOF, the parties have executed this Agreement as of June 13,
2002.
PIRANHA, INC.
By:______________________
Mr. Xxx Gray______________
Title: President_____________
13th day of June 2003
Eternal Technologies Group, Inc. (OTC BB:ETLT.OB)
BY:/s/ JiJjn Wu
Xx. XxXxx Xx
Title: President and Chairman
