CONSULTING AGREEMENT
This Consulting Agreement (the "Agreement") is entered into this _22nd_
day of March, 2001 by and between Cormax Business Solutions Inc, a Utah
Corporation (the "Company") and Xxxxx Xxxxx (the "Consultant").
WHEREAS, the Consultant is engaged in providing strategic business
planning, and has provided financial planning and management services;
WHEREAS, the Company desires to engage Consultant to provide consulting
services; and
NOW THEREFORE, in consideration of the mutual covenants contained
herein and other good and valuable consideration receipt whereof is hereby
acknowledged it is agreed.
1. The Company hereby engages the Consultant and the Consultant hereby accepts
this engagement on a non-exclusive basis from the date hereof up to and
including one year pursuant to the terms and conditions of this Consulting
Agreement.
2. Consultant shall use its best efforts to assist the Company in strategic
business planning and development of a three-year business plan.
3. In order to assist Consultant with his duties, the Company will provide
Consultant with such information, as may be required by Consultant.
4. The compensation provided for herein shall be deemed to be payable at the
end of each month. In consideration for the services to be provided, the
Consultants shall receive a fee equal to 25,000 rule 144 shares of the
Company's common stock and a one-time retainer of 100,000 shares pursuant
to a registration statement on Form S-8. The Corporation shall pay the
Consultants a cash payment of $2,500 each month the consultant works. The
number of said shares so issued to Consultants hereunder shall be adjusted
for stock splits, dividends, and other adjustments and shall be delivered
to Consultants at such time that the Company has authorized capital to do
so. The Company hereby grants to Consultants' shares in such registration
statement on Form SB-2 or S-3 with the Securities and Exchange Commission.
The Company shall bear the expense of including the Consultants' shares in
such registration statement and Consultants shall cooperate fully with the
Company and its counsel in connection with such filing.
5. Except as otherwise provided herein, any notice or other communication to
any party pursuant to or relating to this Agreement and the transactions
provided for herein shall be deemed to have been given or delivered when
deposited in the United States Mail, Canada Post, registered or certified,
and with proper postage and registration or certification fees prepaid,
addressed at their principal place of business or to such other address as
may be designated by either party in writing.
6. This Agreement shall be governed by and interpreted exclusively pursuant to
the laws of the Province of Alberta. In the event of any breach of this
Agreement, the prevailing party shall be entitled to recover all costs
including reasonable attorney's fees and those that may be incurred on
appeal.
7. This Agreement may be executed in any number of counterparts, each of which
when so executed an delivered shall be deemed an original, and it shall not
be necessary, in making proof of this Agreement to produce or account for
more than one counterpart.
IN WITNESS WHEREOF, the parties hereto have subscribed their hands and
seals the day and year first above written.
CONSULTANT: COMPANY:
/s/ Xxxxx Xxxxx Cormax Business Solutions Inc.
------------------------ By: /s/ Xxxx Xxxxxxxx
Segev International Ltd. ---------------------------
Xxxx Xxxxxxxx, President
