EXHIBIT 10.1
2001 COMPENSATION PLAN
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THIS 2001 COMPENSATION PLAN (the "Plan") is entered into as of January 7,
2002 by and between The Company, Inc., a Nevada corporation with a principal
address of 000 Xxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxxx, Xxxxxxxxx 00000 (the
"Company"), and each of the persons listed on the signature page hereof (each a
"Service Provider", collectively the "Service Providers").
R E C I T A L S :
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WHEREAS, the Company is a public company in the business of selling branded
sportwear and whose common stock is quoted on the OTC bulletin board;
WHEREAS, each Service Provider is either an executive officer, employee
and/or member of the Board of Director of the Company who has provided services
to the Company in the fiscal year 2002 and has not yet received compensation for
such services;
WHEREAS, the Company desires to compensate the Service Providers for their
services, which services were not provided in connection with the offer or sale
of securities in a capital-raising transaction or did not directly or indirectly
promote or maintain a market for the Company's securities, by issuance of shares
of the Company's common stock in lieu of a cash payment, such shares to be
unrestricted, and the Service Providers are willing to accept such form of
compensation;
NOW, THEREFORE, it is mutually agreed by and between the parties as
follows:
In full consideration of the performance by each Service Provider of
certain services during the fiscal year 2002 described on Exhibit A attached
hereto, the Company will issue to each Service Provider, in lieu of cash or
other compensation, that number of shares of the Company's common stock
(collectively, the "Shares") set forth opposite such persons name on the Exhibit
A. The Shares will be issued as soon as practicable following execution of this
Agreement and the filing of a Registration Statement under the Securities Act of
1993, as amended on Form S-8 covering the Shares.
Each Service Provider agrees to accept such Shares of common stock in the
amounts set forth opposite such persons name on Exhibit A as full and complete
compensation, and in lieu of cash or other compensation, for the services such
Service Provider rendered to the Company.
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement on
the date first above written.
XDOGS, INC., a Nevada corporation
By: /s/ XXXX X. XXXXXXXXX
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Xxxx X. Xxxxxxxxx, President and Chief Executive Officer
SERVICE PROVIDERS
By: /s/
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Xxxx X. Xxxxxxxxx, Service Provider
By: /s/
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Xxxxx Xxxxxxxxx, Service Provider
By: /s/
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Xxxxxxx Xxxxxx, Service Provider
By: /s/
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Xxxxx Xxxxx, Service Provider
EXHIBIT A TO 2001 COMPENSATION PLAN
Service Provider Services Provided Shares to be Issued
Xxxx X. Xxxxxxxxx Employment 50,000
Xxxxx Xxxxxxxxx Employment 20,000
Xxxxxxx Xxxxxx Director 15,000
Xxxxx Xxxxx Director 15,000
Xxxxxx Xxxxxxx Consultant 15,000
