EXHIBIT 10.1
COMPENSATION AGREEMENT
This Compensation Agreement is dated as of July 25, 2006 by and between
Pride Business Development Holdings, Inc., a Nevada corporation (the "Company")
and Xxxx Xxxx (the "Consultant"), a member of Sichenzia Xxxx Xxxxxxxx Xxxxxxx
LLP.
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 to the Consultant, from time to time upon
request of the Consultant to the Company an aggregate of 150,000 shares of the
Company's common stock, $.001 par value per share (the "Common Stock").
Subsequent to 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 of Common Stock to be issued shall represent
consideration for services to be 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 30 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.
PRIDE BUSINESS DEVELOPMENT HOLDINGS, INC.
/s/ Xxx Xxxxxx
-----------------------------------------
Xxx Xxxxxx, President
/s/ Xxxx Xxxx
-----------------------------------------
Xxxx Xxxx
