EXHIBIT 10.10
AMENDMENT NO. 1 TO CONSULTING AGREEMENT
This Amendment No. 1 to Consulting Agreement, dated as of June 18, 1999
(this "AGREEMENT"), is between Xxxxx Xxxxxxx ("THE CONSULTANT") and Endless
Youth Products, Inc., a Nevada Corporation (the "COMPANY").
The Consultant and the Company wish to amend their Consulting Agreement
dated August 4, 1997 (the "CONSULTING AGREEMENT"), as follows:
1. Consultant shall continue to provide consulting services from time
to time to the Company. In particular, Consultant shall provide consulting
services with respect to design, manufacturing and marketing the Company's
supplement, skin care and other products; introductions to potential vendors,
consultants and financing sources; marketing consulting, including without
limitation consulting with respect to the Company's internet site; and other
consulting services with respect to the Company's business.
2. In addition to the compensation set forth in the original Consulting
Agreement, Consultant shall be entitled to receive warrants to purchase
64,500 shares of the Company's Common Stock at a purchase price of $0.625 per
share and warrants to purchase 24,000 shares of Common Stock at a purchase
price of $0.9375 per share. Such warrants shall be issued as of the date of
this Amendment, and expire on June 29, 2001.
3. In consideration of Consultant continuing to serve on the Board of
Directors of the Company, the Consultant shall be entitled to receive
nonqualified options under the Company's 1996 Stock Option Plan to purchase
20,000 shares of Common Stock per year at a purchase price equal to the
market price of the Common Stock on the date of grant. Such options will
expire five years from the date of grant and shall vest immediately.
4. All warrants, shares of Common Stock and options issued to the
Consultant pursuant to this Amendment No. 1, to the extent they so qualify,
shall be issued under Rule 701 under the Securities Act of 1933.
5. Except as set forth in this Agreement, the Consulting Agreement
shall remain in full force and effect.
IN WITNESS WHEREOF, the Company and the Consultant have executed this
Amendment No. 1 as of the date first written above.
ENDLESS YOUTH PRODUCTS, INC.,
By: /s/ Xxxx X. Xxxxxxx /s/ Xxxxx Xxxxxxx
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Xxxx X. Xxxxxxx, Chief Xxxxx Xxxxxxx
Executive Officer
