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EXHIBIT 10.3
XxxXxx.xxx Inc.
May 6, 1999
Xxxxxx Xxxxxxx
0000 Xxxxx Xxxxxx
Xxx Xxxxx, Xx.
Dear Mr. Fingers:
This letter shall serve as an understanding of the agreement between
Xxxxxx Xxxxxxx (Advisor) and XxxXxx.xxx Inc. (Company).
A: ADVISOR AGREES TO PERFORM THE FOLLOWING FUNCTIONS FOR THE COMPANY.
1. Act as a member of the Company's Sports Advisory Board.
2. Advisor will assist the Company in obtaining and creating sports
memorabilia to be sold on the Company's website.
3. Advisor will assist the Company on an ongoing basis to develop a
relationship with and obtain collectible items from active and retired
professional athletes as the parties shall agree.
4. Advisor shall grant the Company the right to use his name as a member of
such board on all advertising endeavors undertaken by the Company.
5. Advisor shall make himself available not less than 2 hours per month to
hold online conversations with customers and clients of the Company on its
website.
B: COMPANY AGREES TO PAY ADVISOR THE FOLLOWING COMPENSATION
1. 25,000 options at $1.75 for services as an Advisory Board member. The
options shall vest immediately and upon exercise and written notice to the
Company the shares issued under this paragraph will be registered for sale
under Section S8 of the Securities Act of 1934.
3. The Company agrees to explore the possibility of involving Advisor
directly in sales which would involve negotiating an increased
compensation package.
THIS AGREEMENT SHALL BE RENEWABLE EACH YEAR AT THE MUTUAL AGREEMENT OF THE
PARTIES FOR SUCCESSIVE ONE YEAR TERMS.
Agreed to by:
/s/ XXXXXX XXXXXXX 5/6/99 /s/ [Signature Illegible] 5/6/99
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Xxxxxx Xxxxxxx Date XxxXxx.xxx, Inc. Date
0000 X Xx Xxxxxx Xxxx, Xxxxx 000 Xxxxxxxx, Xxxxxxxxxx 00000
