[Letterhead of Paradise Music & Entertainment, Inc.]
January 15, 1998
Mr. Xxxxxx Xxxxx
0000 Xxxxxx xx xxx Xxxxxxxx
0xx Xxxxx
Xxx Xxxx, X.X. 10104
Re: Consulting Services
Dear Xxx:
The purpose of this letter is to set forth our agreement for the
calendar year 1998 with respect to having you provide consulting services to
Paradise Music & Entertainment, Inc. (the "Company").
You have agreed that you will provide the Company with consulting
services as reasonably requested by the Company in connection with matters
beyond your responsibilities as an outside director. Matters covered by your
consulting services hereunder shall principally involve assistance in the
preparation and review of press releases, assistance and advice with respect to
presentations made by the Company in its Federal Securities law filings and
other matters such as attention to certain day to day business questions as to
which you have rendered advice in the past.
For your consulting services you shall be paid quarterly in arrears
at the rate of $1,000 per month no later than the fifteenth day of the month
following the end of each quarter. Services which the Company requests you to
provide on acquisitions and other significant transactions are not covered by
this Agreement and will be subject to separate agreed upon compensation.
This agreement may be terminated by either the Company or you on
three months prior written notice. Except as terminated by either party, this
Agreement shall continue for a two year period. Will you please indicate your
acceptance of the terms of this agreement by signing and returning a copy of
this letter in the space indicated below.
Very truly yours,
Paradise Music & Entertainment, Inc.
/s/ Xxxx Xxxxxxxx, President
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By: Xxxx Xxxxxxxx, President
Accepted and Agreed
/s/ Xxxxxx Xxxxx
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Xxxxxx Xxxxx
