Exhibit 7.4
September 30, 2005
Xxxxxxx Xxxxxx
Securities Inc.,
00 Xxxx Xx. 00X
Xxx Xxxx, XX 00000
PCM Industries Inc.,
00 Xxxx Xx.
Xxx Xxxx. NY 14004
RE; $500,000 CAPITAL CONTRIBUTION
Let this serve as a letter of understanding between the two parties,
Xxxxxxx Xxxxxx Securities having its principal offices at 00 Xxxx Xx.,
Xxx Xxxx, XX 00000, hereinafter referred to as CMS, and PCM Industries,
having it's principal offices at 00 Xxxx Xx., Xxx Xxxx, XX 00000, hereinafter
referred to as PCM, that as of today a total contribution has been made to
CMS by PCM for $500,000 five hundred thousand dollars for the benefit of
CMS's operations as an investment advisory firm and to further fund CMS
in it's attempt to acquire a boker dealer license and operate as such.
For value received it is agreed that in return for such investment PCM
will be entitled to 20% twenty percent of all equity earned by CMS in
connection with any and all investment advisory services, consulting
agreements, money raises, and any and all compensation that is earned by
CMS in the form of equity. The term equity shall include any and all options,
warrants, agreements to purchase warrants or options, preferred stock or
common stock earned by CMS as a result of any and all agreements that CMS
may enter into. It is further agreed that CMS will pay a management fee of
$100,000 one hundred thousand dollars for each calendar year of operation
commencing on Dec. 10, 2007. It being agreed to and understood to be binding
on both parties as of today September 30, 2005.
Agreed to and by:
Xxxx X. Xxxxxxx
President/CEO PCM Industries Inc.
Xxxx X. Xxxxxxx
President/CEO CMS Inc.
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