February 8, 2002 Mr. John Taylor Chateau Perigord #142 Monte Carlo 98000 Monaco Re: Letter Agreement / Consideration for Consulting Services Dear Mr. Taylor:
Exhibit 99.1
February 8, 2002
Mr. Xxxx Xxxxxx
Chateau Perigord #142
Monte Carlo 98000
Monaco
Re: Letter Agreement / Consideration for Consulting Services
Dear Xx. Xxxxxx:
This letter documents the agreement that we have negotiated. From the period of February 10, 2002 to February 10, 2003, with renewal options on an annual basis thereafter. Xx. Xxxxxx will provide significant services to iExalt, Inc. (the "Company") related to :
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1. |
Xx. Xxxxxx shall provide advertising and public relations services for iExalt with a focus on expansion into European countries. |
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2. |
Xx. Xxxxxx shall assist with development of marketing strategies for iExalt's products overseas. |
The time, attention and consulting services to be devoted by Xx. Xxxxxx is expected to be significant.
As such, our Board of Directors has approved the grant of 65,000 shares of the Company's common stock, par value $.05 per share, as consideration for your services in addition to any other prior approved out of pocket fees due under the Consulting Agreement. Pursuant to our negotiations, the Company has agreed, on a best efforts basis, to seek registration of the shares underlying this agreement using a registration on Form S-8.
Please signify your agreement to this fee structure by signing below and fax and mail such executed letter to the Company at the address noted above. Thank you again for your efforts and we look forward to a continued relationship.
Sincerely,
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/s/ Xxxxxx X. Xxxxxxx |
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Xxxxxx X. Xxxxxxx |
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Chairman/CEO |
ms
ACCEPTED AND AGREED TO:
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_/s/ Xxxx Taylor__________________________ |
____8/FEB/02___ |
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Xxxx Xxxxxx |
date |
