COMPENSATION AGREEMENT
Exhibit
10.3
This
Compensation Agreement is dated as of November 8, 2007 among Shearson Financial
Network, Inc. a Nevada corporation (the “Company”), and Xxxxxxx Xxxxxxxxx
(“Consultant”).
WHEREAS,
the Company has requested the
Consultant to provide the Company with legal services in connection with their
business, and the Consultant has agreed to provide the Company with such legal
services; and
WHEREAS,
the Company wishes to
compensate the Consultant with shares of its common stock for such services
rendered;
NOW
THEREFORE, in consideration of the
mutual covenants hereinafter stated, it is agreed as follows:
1. The
Company will issue 1,400,000 shares of the Company’s common stock, par value
$.001 per share, to the Consultant immediately following the filing of a
registration statement on Form S-8 with the Securities and Exchange Commission
registering such shares, as set forth in Section 2 below. The shares to be
issued shall represent consideration for legal services performed by the
Consultant on behalf of the Company.
2. The
above compensation shall be registered using a Form S-8. The Company
shall file such Form S-8 with the Securities and Exchange Commission within
five
business days of the execution of this agreement.
IN
WITNESS WHEREOF, this Compensation Agreement has been executed by the Parties
as
of the date first above written.
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XXXXXXX
XXXXXXXXX
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/s/Xxxxxxx
Xxxxxxxxx
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Xxxxxxx
Xxxxxxxxx
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SHEARSON
FINANCIAL NETWORK, INC.
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By:
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/s/
Xxxxxxx X. Xxxxxx
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Xxxxxxx
X. Xxxxxx
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Chief
Executive Officer
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