EXHIBIT 10.1
BUSINESS CONSULTING CONTRACT
4-20-01
TO: Xx Xxxxxx Xxxxx
Xxxxx Consulting Inc
0000Xxxxxxxx Xx Xxxx 000
Xxxxx Xxxx, XX 00000
Dear Xx Xxxxxx Xxxxx,
Based upon our various conversations Capco Energy Inc. (Capco) agrees to retain
the services of Sayed Consulting Inc. (SCI) for providing certain public
relations services to the Company.
The terms of the contract and the services provided are specified hereinbelow:
1. The services of SCI shall be retained for a period of five years commencing
5-1-01(Effective date). and ending 4-31-06.(Termination Date)
2. The services shall include public relations on behalf of the Company, the
shareholders letter, news releases, increasing the market makers and
seeking investment banking sources to enable the Company to fund its
ongoing projects.
3. Xx Xxxxxx Xxxxx as the President of SCI shall be reporting to the CEO of
Capco. It is anticipated that all public relations efforts of Capco to be
carried out by SCI.
4. Capco shall pay a monthly consulting fee of $5,000 plus non-accountable
expenses of $2000/month, which shall include local auto expense,
telephone, computer and other miscellaneous office expenses. In addition
Capco shall reimburse all other accountable expenses which are undertaken
by SCI and are subject to Capco's approval.
5. So long the contract is full force by July 31 2001, Capco shall grant an
options to SCI to acquire 350,000 shares of Capco at $1.00/per share
expiring September 30th 2001. In addition so long as the contract is still
in full force by September 30th 2001 and the previous options have been
exercised then Capco shall grant an additional options to SCI to acquire
500,000 share of Capco at $1.50 per share expiring April 30 2002.
6. Either party can terminate this contract by giving a notice of 2 weeks to
the other party. Capco's obligation in the event of termination by Capco
shall be to pay all the unpaid but approved expenses and three months
consulting fees. Capco's obligation in the event of termination by SCI
shall only be the approved expenses and prorate consulting fees to the
date of termination.
If the above terms are acceptable then please execute a copy and forward to my
attention by 4-30-01.
Sincerely yours, Accepted:
/s/ Xxxxx Xxxxxxxxx /s/ Xxxxxx Xxxxx
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Xxxxx Xxxxxxxxx Xxxxxx Xxxxx
President
Capco Energy Inc.
