Exhibit 10.26
Consulting Agreement
Mr. Seth Fireman Xx. Xxxx Xxxxx
Xx. Xxxx Xxxx Chief Executive Officer
Managing Partners Xxxxxx Xxxx Securities Group, Inc.
Olympia Partners, LLC 000 Xxxxx Xxxxxx, 00xx Xxxxx
000 Xxxxxxx Xxxxxx, 00xx Xxxxx Xxx Xxxx, XX 00000
Xxx Xxxx, XX 00000
American Champion Entertainment, Inc. ("ACEI") hereby appoints Olympia
Partners, LLC and Xxxxxx Xxxx Securities Group, Inc. as financial consultants
("Consultants") to ACEI with specific services as following:
* Assist in seeking financing for ACEI's production needs for the TV program
* Provide and set up promotional activities for ACEI, which includes but not
limited to retail support of ACEI's shares as traded on Nasdaq
* Term: 24 months beginning November 25, 1998
ACEI will compensate Consultants as follows, to be equally divided between
Olympia Partners, LLC, and Xxxxxx Xxxx Securities Group, Inc.:
1) On the first business day of January 1999, ACEI will pay consultants
for services rendered in December 1998. This compensation will, at the option
of ACEI, equal to an aggregate of $100,000 or 100,000 warrants exercisable
at $1.25 per share. And,
2) Thereafter the following compensation shall be paid in aggregate to the
Consultants:
Eligible from
Effectiveness
Amount Strike Price of S-3 Registration Expires
100,000 shares $1.50 per share 45 days 30 months
100,000 shares $2.00 per share 90 days 30 months
100,000 shares $2.50 per share 135 days 30 months
100,000 shares $2.75 per share 180 days 30 months
100,000 shares $4.00 per share 360 days 30 months
For Accepted:
American Champion Entertainment, Inc. Olympia Partners, LLC
By: /s/ Xxxxxxx X. Xxxx By: /s/ Seth Fireman
Xxxxxxx X. Xxxx Name: Seth Fireman
President & CEO Title: Managing Partner
Date: November 25, 1998 Xxxxxx Xxxx Securities Group, Inc.
By: /s/ Xxxx Xxxxx
Name: Xxxx Xxxxx
Title: Chief Executive Officer
