Agreement with Deb Erickson And PrimeSource Mortgage
Agreement
with Xxx Xxxxxxxx
And
PrimeSource Mortgage
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1.
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Total
Agreement value = $90,000 during one year December 1, 2005 through December
1, 2006. Fifty four thousand dollars ($54,000) in cash
paid in the following
manner:
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·
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3
months at $3,750.00 at December 5, 2005 to February
2006
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·
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3
months at $4,250.00 at March 2006 to May
2006
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·
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6
months at $5,000.00 at June 2006 to November
2006
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Thirty
six ($36,000) in shares valued at $1.25/share equaling 28,800
shares.
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2.
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Bonus
package tied to shares using the same incentive package designed for the
branch owners.
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3.
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November
2005 invoice will be billed using actual billable hours and paid as usual
with a split of shares and cash.
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4.
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Total
shares owed for invoices billed in 2005 will be totaled and paid at a
share price of $1.00 each.
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Submitted:
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/s/ Xxxxxxx X. Xxxxx
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Xxxxxxx
X. Xxxxx, President
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PrimeSource
Mortgage, Inc.
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Acknowledgement:
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/s/ Xxx Xxxxxxxx
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Xxx
Xxxxxxxx, President
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ICAN
Institute, Inc.
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Compensation
Agreement with ICAN Institute
With our
agreement expiring in 2006, we have agreed to the following compensation
package:
Since
expiration, we have continued on a month-to-month basis under the same
agreement:
$90,000 compensation plan with $60,000
paid $2,500 semi-monthly, and the balance in shares paid quarterly.
Effective April 1, 2008, we moved to a
$60,000 compensation plan continuing the same payment of $2,500 semi-monthly,
but with no more share compensation.
Finally,
effective May 1, 2009, we have a new contract pending.
Submitted:
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/s/ Xxxxxxx X. Xxxxx
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Xxxxxxx
X. Xxxxx, President
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PrimeSource
Mortgage, Inc.
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Acknowledgement:
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/s/ Xxx Xxxxxxxx
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Xxx
Xxxxxxxx, President
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ICAN
Institute, Inc.
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