EXHIBIT 10.1
CONSULTANT AGREEMENT
THIS AGREEMENT is entered into as of the 10th day of December, 2001,
by and between Advanced Technologies, Inc., a Nevada corporation (hereinafter
the "Company"), and International Capital Management Group, Inc. (hereinafter
"Consultant") under the following terms and conditions:
RECITALS:
WHEREAS, Consultant, a Delaware corporation, has one shareholder and
such shareholder is Consultant's sole Board of Director and sole Officer, and,
WHEREAS, it in the best interest of the Company to employ the services
of Consultant upon the terms and conditions hereinafter set forth; and;
WHEREAS, it is the desire of Consultant to be employed upon the terms
and conditions hereinafter set forth; and;
WHEREAS, the Company requires the services of the Consultant to advise
the Company with respect to public relations for the Company and any potential
mergers and acquisitions the Company may engage in; and
WHEREAS, through inadvertence only, adequate compensation for the
Consultant's services had not previously been provided for.
NOW, THEREFORE, in consideration of the mutual promises, covenants and
agreements hereinafter set forth, the parties hereto agree as follows:
1. COMPENSATION
1.1 The Consultant agrees to accept and the Company agrees to
compensate the Consultant by issuing and delivering to consultant 3,250,000
unrestricted shares of the Company's common stock to be issued under a Form S-8
Registration to be undertaken by the Company as soon as practicable.
1.2 Compensation shall not be subject to withholding or other taxes as
they shall be the responsibility of the Consultant.
2. SERVICES
2.1 Consultant agrees to provide to the Company the following services
on behalf of the Company:
(1) Assist the Company in evaluating potential merger and acquisition
candidates;
(2) Assist the Company in performing due diligence for potential
mergers and acquisitions candidates;
(3) Assist the Company in structuring potential mergers and
acquisitions
(4) Retain a public relations firm for the Company.
2.2 All out of pocket expenses incurred by the Consultant on behalf of
the Company and evidenced by receipt and pre-approved by the Company, shall be
the responsibility of the Company.
3. TERM
This agreement shall expire December 31, 2002.
4. THE COMPANY'S AUTHORITY
Consultant agrees to observe and comply with the reasonable rules and
regulations of the Company as adopted by the Company's Board of Directors either
orally or in writing respecting performance of its duties and to carry out and
perform orders, directions and policies stated by the Board of Directors, from
time to time, either orally or in writing.
5. NOTICES
All notices, requests, demands and other communications provided for by
this Agreement shall be in writing and (unless otherwise specifically provided
herein) shall be deemed to have been given at the time when mailed in any
general or branch United State Post Office, enclosed in a registered or
certified postpaid envelope, addressed to the parties stated below or to such
changed address as such party may have fixed by notice:
TO THE COMPANY: Advance Technologies, Inc.
000 Xxxxxxxx Xxxx, #000
Xxxxx Xxxxxx Xxxxxxx, XX 00000
Attn: Xxxx Xxxx, President
CONSULTANT: International Capital Management
Group, Inc.
0000 Xxxxxxxxx 00xx Xxxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
Attn: Xxxx Xxxxxx
6. GOVERNING LAW
This Agreement will be governed by and construed in accordance with the
laws of the State of California.
7. BINDING NATURE
This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective representatives, heirs, successors and
assigns.
8. CORPORATE APPROVALS
The Company represents and warrants that the execution of this
Agreement by its respective corporate officers named below (i) has been duly
authorized by the Board of Directors of the Company, (ii) is not in conflict
with any Bylaw or other agreement, and (iii) will be a binding obligation of the
Company enforceable in accordance with its terms.
IN WITNESS WHEREOF, THE parties hereto have executed this Agreement as
of the date above written.
ADVANCE TECHNOLOGIES, INC.
By: /s/XXXX XXXX
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Xxxx Xxxx, President
INTERNATIONAL MANAGEMENT GROUP, INC.
By: /s/XXXX XXXXXX
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Xxxx Xxxxxx, President