ADDENDUM TO THE MANAGEMENT AND CONSULTING AGREEMENT
This Addendum to the Management and Consulting Agreement ("Agreement") is made
and entered into on May 28, 2002 ("Effective Date") by and between
FinancialContent, Inc., a Delaware corporation ("Company") and SharpManagement,
LLC, a Delaware LLC ("SharpManagement"). Any previously executed Addendums to
the Management and Consulting Agreement between the parties are hereby null and
void.
Whereas, the Company and SharpManagement executed a Management and Consulting
Agreement ("Agreement") on May 17, 2000, whereby SharpManagement provided
services to the Company in exchange for a monthly fee and common stock of the
Company;
Whereas, the one-year term under the Agreement expired on January 10, 2001, and
wanting to continue the relationship, the Company and SharpManagement executed
an Addendum to Management and Consulting Agreement which extended the Agreement
for one year and restated the compensation payable to SharpManagement;
Whereas, the Addemendum to Management and Consulting Agreement expired on
January 10, 2002, and SharpManagement has continued to provide services to the
Company under the Addendum and the Company has continued to accept such
services;
Whereas, the Company and SharpManagement desire to extend the Agreement for an
additional one-year term subject to the restated terms set forth below:
Now therefore, in consideration duly noted herein, the Company and
SharpManagement (collectively the "Parties") agree as follows:
All terms and conditions of the Agreement (attached hereto) entered into on May
17, 2000, shall be adopted and shall be given continuity to this Addendum,
excluding the terms and conditions under paragraphs 2 and 4, and Exhibit A,
which shall be modified as follows:
2. Compensation. The Company shall pay SharpManagement $5,000.00 per month
for the term of the one-year extension period retroactive to January
10, 2002..............
4. Term. This Addendum shall begin with the Effective Date of January 10,
2002 and shall continue for one year from such date. The term shall not
automatically renew.............
Exhibit A.
DESCRIPTION OF SERVICES
1
Responsibilities as CSO. Xxxx shall have all responsibilities as the Chief
Strategy Officer of the Company. These responsibilities shall include, but shall
not be limited to, the following:
Xxxx shall assist in setting overall objectives, approving plans and programs of
operation, shall advise on matter of mergers, acquisitions, consolidations,
financing, and shall advise on and assist with formulating general operating
policies.
..................
Company: SharpManagement:
FinancialContent, Inc. 000 Xxxxxxx Xxxx., Xxxxx 000
000 Xxxxxxxxxx Xxxxx, Xxxxx 000 Xxxxxxxxxx, XX 00000
Xxxxxxxx, XX 00000
By: /s/ Wing Yu By: /s/ Xxxxxxx Xxxx
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Wing Yu, CEO Xxxxxxx Xxxx, Managing Member
