CONSULTING AGREEMENT
This
Consulting agreement (“Agreement”) is entered into as of the date written below
between AMARILLO BIOSCIENCES, INC., a Texas Corporation (“ABI”) and COMMONWEALTH
ASSOCIATES (“Consultant”).
WHEREAS,
ABI
wishes to engage the services of consultant and Consultant wishes to provide
services to ABI all on the terms and conditions hereinafter set
forth;
THEREFORE,
in
consideration of these presents and for other good and valuable consideration
the receipt and sufficiency of which are evidenced by the execution hereof,
the
parties hereby agree as follows:
1. This
agreement shall be in force from the date shown above, for a period of 12
months. Consultant shall be compensated by the grant of a stock option to
purchase 1,000,000 shares of common stock. This option shall have a duration
of
12 months and can be exercised at the strike price of 20 cents per share, and
shall be evidenced by an Option Agreement of even date herewith. This option
shall have piggy back rights. Option was granted as an alternative to the normal
fee of $20,000/month. (JMC)
2. Consultant
shall render consulting services as and when requested by ABI, subject to
Consultant’s availability, in the area of general financial consulting and
capital formation.
3. Consultant
acknowledges that as a consultant it is entitled to reimbursement for
pre-approved travel expenses incurred while conducting business for
ABI.
| AMARILLO BIOSCIENCES, INC. | ||
|
By:
|
/s/
Xxxxxx X. Xxxxxxx
|
/s/
Xxxxxx X’Xxxxxxxx
|
|
Xxxxxx X. Xxxxxxx |
Xxxxxx X’Xxxxxxxx |
|
|
President
and CEO
|
CEO
and President
|
|
|
Commonwealth
Associates
|
||
|
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20
July 07
|
July
18, 2007
|
|
Date |
Date |
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