EXHIBIT 10.1 FEE AGREEMENT WITH XXXXXXX X. XXXX
April 26, 2003
Xx. Xxxxxx X. Xxx Chief Executive Officer American IDC Corp.
00000 Xxxxxxx Xxxxxxxxx, Xxxxx 000
Xxx Xxxxxxx, XX 00000
RE: American IDC Corp.
Addendum to Fee Agreement
Dear Xx. Xxx:
This letter, when countersigned by you, will modify and amend the Fee
Agreement dated November 12, 2001 to add the following terms.
"In exchange for services rendered, Client shall issue to Xxxxxxx X.
Xxxx One Hundred Thousand (100,000) shares of Client's common stock. Further,
Client hereby grants Weed the right to purchase 100,000 shares of Client's
common stock at a price equal to $.50 per share and these stock options will
expire unless exercised on or before December 31, 2007. The options granted will
not be subject to dilution (i.e. no adjustment to the number of shares or the
exercise price) based upon any reverse split of the Client's common stock."
All other terms and conditions of the fee agreement remain in full
force and effect.
Very truly yours,
/s/ Xxxxxxx X. Xxxx
Xxxxxxx X. Xxxx
Managing Director/Special Projects
Approved and Agreed
American IDC Corp.
By: /s/ Xxxxxx X. Xxx
Name: Xxxxxx X. Xxx
Title: Chief Executive Officer
