SCM
Securities Counseling & Management
00000 Xxxxxxxxx 00xx Xxxxx, Xxxxx, Xxxxxxx 00000
March 16, 2001
Xx. Xxxxxxx Xxxxxx, President
Life Petroleum, Inc.
0000 XX 00 Xxxxxxx
Xxxxx Xxxxx, Xx 00000
Dear Xx. Xxxxxx:
This letter, when signed by you will confirm our agreement of August 15, 2000.
Securities Counseling & Management, Inc., ("SCM") will assist Life Petroleum,
Inc., ("LIFE") on an as needed basis in executing its plan of reorganization.
Specifically, SCM will assist Life with all aspects of its reorganization
including preparing a structure of reorganization for the company. SCM will
provide assistance to Life in identifying professionals who will provide
services to Life, such as CPA's , attorneys, and Transfer Agents. SCM will serve
as an intermediary with these and other professionals. SCM will also help to
identify potential investors and provide other services as needed, however SCM
will not be responsible for fund raising activities.
SCM's fee for these services will be 9.9%, or 16,500,000 shares of the stock of
the reorganized Life. The stock will be issued under Rule 701.
If you have any questions please feel free to call me.
Sincerely,
/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx, President
Agreed and Accepted
/s/ Xxxxxxx Xxxxxx, President
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Xxxxxxx Xxxxxx, President
Life Petroleum, Inc.
