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EXHIBIT 10.36
ADDENDUM TO
CONSULTING AGREEMENT
THIS ADDENDUM, dated this 1st day of August, 2001, the Consulting Agreement
dated April 6, 2001, by and between XXXXXXX DEUTSCH, whose address is at 0000
Xxxx Xxx., Xxxxxxxx, XX 00000 (the "Consultant"), and TELESERVICES INTERNET
GROUP INC., whose address is at 000 Xxxxxx Xxxxxx Xxxxx, Xxxxx 0000, Xx.
Xxxxxxxxxx, Xxxxxxx 00000 (the "Client").
In consideration of the additional services being provided by the
Consultant as an independent management consultant that are beyond the scope of
the services originally contemplated by the Consulting Agreement, the Client
shall grant to the Consultant an additional option to purchase up to eleven
million (11,000,000) shares of common stock of the Client (the "Option"),
exercisable in whole or in part at anytime, at an exercise price of $.025 per
share, until December 31, 2002.
The Option may be exercised by delivery of notice in writing to the
Client setting out the number of optioned shares which the Consultant intends to
purchase and delivering payment in a form acceptable to the Client in an amount
equal to the number of optioned shares to be purchased times the exercise price.
The Client agrees to deliver to the Consultant a share certificate representing
the optioned shares purchased not later than five days after receipt of the
notice and payment.
Appropriate adjustments shall be made to the number of shares of common
stock issuable upon exercise of the Option and the exercise price thereof in the
event of: (i) a subdivision or combination of any of the shares of capital stock
of the Client; (ii) a dividend payable in shares of capital stock of the Client;
(iii) reclassification of any shares of capital stock of the Client; or (iv) any
other change in the capital structure of the Client. The Option is subject to
restrictions on transfer, as required by applicable federal and state securities
laws; provided, however, that the shares of common stock issuable upon exercise
of the Option shall be registered with the United States Securities and Exchange
Commission.
This Addendum may be executed simultaneously in two or more
counterparts, each of which shall be deemed an original, but all of which taken
together shall constitute one and the same instrument. Execution and delivery of
this Addendum by exchange of facsimile copies bearing the facsimile signature of
a party hereto shall constitute a valid and binding execution and delivery of
this Addendum by such party. Such facsimile copies shall constitute enforceable
original documents.
IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Addendum as of the day and year first above written.
CONSULTANT: CLIENT:
XXXXXXX DEUTSCH TELESERVICES INTERNET GROUP INC.
/s/ Xxxxxxx Deutsch By: /s/ Xxxx X. Xxxxx
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Xxxxxxx Deutsch Xxxx X. Xxxxx, CEO
