INVESTMENT BANKING AGREEMENT
On this date October 11, 1999 and whereas, Paradigm Medical Industries,
Inc. (Paradigm) wishes to retain X.X. Xxxxxxxx & Company, Inc. (Xxxxxxxx) to act
as its investment banker and whereas, X.X. Xxxxxxxx & Company, Inc. wishes to
represent Paradigm Medical Industries, Inc. as its investment banker;
Now therefore as compensation for services to be performed by X.X.
Xxxxxxxx as investment banker for Paradigm Medical Industries, Inc., Paradigm
Medical will:
1) Retain X.X. Xxxxxxxx commencing October 15, 1999 for $5,000.00 per
month payable monthly in arrears on the 15th of each month for a
period of two (2) years and renewable by mutual agreement two (2)
months prior to expiration of this term.
2) Sell 420,000 shares of its registered common shares of shelf stock
for sale to Xxxxxxxx at $3.00 per share; purchase to be finalized
within ten (10) working days from date of this document.
3) Grant to Xxxxxxxx 100,000 Warrants exercisable at $4.00.
4) Xxxxx Xxxxxxxx an option to purchase an additional 580,000 shares
of its registered shelf stock within ninety (90) days of this date
at a mutually agreed upon price to be determined one (1) week
prior to execution of said transaction.
5) Pay to Xxxxxxxx 9% commission on Gross Proceeds from sale of its
shelf stock.
In turn, Xxxxxxxx will:
1) Purchase 420,000 shares of Paradigm's registered shelf stock for
$3.00 per share within ten (10) working days from date of this
document.
2) Represent Paradigm Medical Industries, Inc. as its Investment
Banker.
3) Accept $100,000.00 warrants exercisable at $4.00.
4) Accept the option to purchase an additional 580,000 shares of
Paradigm's registered common shelf stock within ninety (90) days
at a mutually agreed upon price to be determined one (1) week
prior to purchase.
5) Receive a commission of 9% from proceeds of the shelf stock
purchase.
X.X. Xxxxxxxx & Company, Inc. Paradigm Medical Industries, Inc.
By: /s/ Xxxxx Xxxxxx By: /s/ Xxxxxx X. Xxxxxx
Its: President Its: President
