Consulting Agreement
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EXHIBIT 10.59
The following are the terms/conditions of an agreement between Diversified Security Corporation and Xxxx Xxxx.
- 1.
- Term
shall be for 5 months beginning April 1, 2002 and ending September 1, 2002.
- 2.
- Cash
compensation shall be $7,500 per month. First payment due May 1, 2002.
- 3.
- Expenses
will be pre-approved by DSC.
- 4.
- Consulting
shall include assistance in building our management team, analysis of acquisitions, due diligence and general business issues.
- 5.
- Consultant
shall be entitled to additional compensation of $4,500 per month as deferred compensation. The deferred compensation shall be paid in cash or kind on completion of the
Company's first acquisition or January 1, 2003 at the election of Xx. Xxxx. If in kind at the rate of $.50 per share as option price.
- 6.
- Upon closing of DSC's first acquisition, Xx. Xxxx shall become a full time employee of the Company.
/s/ XXXX XXXX Xxxx Xxxx Agreed this 25th March, 2002 |
/s/ XXXXXX X. XXXXXXX Xxxxxx X. Xxxxxxx Agreed this 25th March, 2002 |
Consulting Agreement