Consulting Agreement
This Agreement is entered into as of March 1, 1999 between EnterTech Media
Group, Inc., of 00 Xxxx Xxxxxxx Xxxxxx, xxxxx 000, Xxxx, Xxxxxx 00000
("EnterTech"), and the Cygnus Group ("Cygnus").
1. Engagement. EnterTech hereby engages Cygnus to furnish Xxxxx Xxxxx'x services
as a consultant to consult with EnterTech Releasing Corporation during the Term
regarding the acquisition of and U.S theatrical distribution of independent and
foreign films. Cygnus hereby accepts such engagement. Cygnus will not without
the prior written approval of EnterTech Media Group enter into any agreements
oral or otherwise for the acquisition and distribution of such films or any
other commitments. The terms of any acquisitions are to be approved in advance
by Xxxx Xxxx of EnterTech Media Group and in particular any Keyman provisions
are to be specifically approved.
2. Term. The term of this agreement shall be three years commencing on the date
set forth above. The parties agree to review the agreement after 6 months. After
6 months of the term the engagement of Cygnus hereunder will be converted to
direct employment of Xxxxx Xxxxx by EnterTech.
3. Fee. Cygnus' fee shall be US$1,500 per week for the first six months payable
in advance, at the beginning of each week of the Term. This fee will be
renegotiated at the end of the 6th month. This non-refundable fee will be in
addition to Cygnus having the right to a 10% share of the Profits generated by
EnterTech Releasing Corporation. The definition of Profits will be separately
agreed in writing between the parties.
4. Office, Assistant. EnterTech will provide Xxxxx Xxxxx with a suitable office.
EnterTech will if it deems it necessary also provide Xxxxx Xxxxx with an
assistant who will work with him to assist him in his acquisitions work.
5. Travel, Expenses. EnterTech will advance and pay for Xxxxx Xxxxx'x travel to
film markets and festivals when required and related expenses, as well as his
customary day-to-day business expenses, in accordance with mutually approved
budgets prior to expenditure.
6. Exclusivity. EnterTech Releasing and Cygnus acknowledge that the engagement
hereunder is on an exclusive basis except that Cygnus and /or Xxxxx Xxxxx may
render outside consulting services as long as they re not conflicting with the
services rendered at EnterTech Releasing and are approved in writing by Xxxx
Xxxx of EnterTech Media Group.
7. Stock Options. It is contemplated by the parties that a more extensive
agreement reflecting the terms contained herein will be prepared in due course
and that such agreement will provide a performance related stock options
package.
8. Miscellaneous. This agreement shall be governed by the laws of the State of
California. This agreement contains the entire agreement of the parties with
respect to the subject matter hereof, supersedes any and all prior agreements
and negotiations and shall be amended or modified only in writing signed by both
parties. This agreement is personal to both parties and may not be assigned by
either party without the other party's prior written consent. All matters
relating to EnterTech and any associated companies and their respective business
affairs are confidential and should be treated as such.
AGREED:
ENTERTECH MEDIA GROUP, INC. THE CYGNUS GROUP.
By: /s/ Xxxx Xxxx By: /s/ Xxxxx Xxxxx
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Xxxx Xxxx Xxxxx Xxxxx
