AMENDMENT TO AGREEMENT
This amendment agreement (the "Amendment") to the Engagement Agreement,
the Compensation Agreement, the Specific Services Agreement and the
Indemnification Agreement, all effective February 8, 1999 (the "Agreement"), by
and between Coronado Industries, Inc., a Nevada corporation doing business in
the State of Arizona (the "Company"), and Capital Markets Consulting Group, an
Arizona resident ("CMCG"), is entered into this 1st day of April, 1999.
WHEREAS, at this time the parties to the Agreement wish to change
certain provisions of the Compensation Agreement;
NOW THEREFORE, upon the mutual covenants contained herein and other
valuable consideration, the parties agree to amend the Compensation Agreement as
follows:
1. As of April 1, 1999 CMCG will no longer be paid $6,000 per month in
cash.
2. The Company shall deliver to CMCG as soon as possible One Hundred
Fifty Thousand (150,000) shares of the Company's unrestricted and free-trading
stock.
3. In lieu of CMCG becoming vested in the opportunity to purchase
1,600,000 shares of stock at the price of 25 cents if the Company's stock price
averages $2.00 per share for a thirty calendar day period: (i) the Company shall
deliver One Hundred Fifty Thousand (150,000) free-trading and unrestricted
shares to CMCG if the Company's stock trades at $1.00 per share and thereafter
trades at $1.00 per share for two immediately subsequent days during the term of
the Agreement; (ii) the Company shall deliver Two Hundred Fifty Thousand
(250,000) free-trading and unrestricted shares to CMCG if the Company's stock
trades at $1.50 per share and thereafter trades at $1.50 per share for two
immediately subsequent days during the term of the Agreement; and (iii) CMCG
shall immediately become vested in the opportunity to purchase 1,200,000 Company
stock shares at $.25 per share if the Company's stock trades at $2.00 and
averages $2.00 for thirty (30) calendar days thereafter, with 600,000 of the
vested shares to be issued as free-trading and 600,000 of the vested shares to
be issued as restricted shares.
4. Because of the SEC amendment to Form S-8 effective April 7, 1999
which prohibits the issuance of free-trading stock registered on Form S-8 to
stock promotion and financial public relations firms after May 10, 1999, the
parties hereto agree if any free-trading and unrestricted shares of Company
Stock are earned as compensation by CMCG pursuant to any provision of the
Agreement on or after May 10, 1999, the Company shall only be required to
delivered restricted Company shares to CMCG as full payment pursuant to the
Agreement.
5. The remaining provisions of the Agreement between the parties remain
in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment to
the Agreement, effective as of April 1, 1999.
CORONADO INDUSTRIES, INC.
By: /s/ Xxxx X. Xxxxx
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Xxxx X. Xxxxx, President
CAPITAL MARKETS CONSULTING GROUP
By: /s/ Xxxxxxx X. Xxxx
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Xxxxxxx X. Xxxx, President
