Exhibit 10.3
AGREEMENT
AGREEMENT dated this 24th day of January 2005, by and between ABC
Funding, , Inc. (hereinafter "ABC"), a Nevada Corporation, with offices located
at 0000 Xxxxx 000 Xxxx, Xxxxx, Xxxx 00000 and Xxxxxx Xxxxxx, President of ABC.
WHEREAS, ABC has filed a Registration Statement with the United States
Securities and Exchange Commission (hereinafter the "SEC") on Form SB-2 and has
filed an Exhibit 10.2 to such Registration Statement regarding methods of
payment of offering expenses; and
WHEREAS, such Registration Statement includes in the "Management's
Discussion and Analysis or Plan of Operation" section, a specific discussion of
ABC's cash requirements for the next twelve (12) months (exclusive of offering
expenses) and its specific viable plans to meet such requirements.
NOW, THEREFORE, it is herewith agreed as follows:
The undersigned, as President of ABC herewith agrees to defer ABC
compensation otherwise payable to him so as to permit ABC to remain viable and
further agrees to loan ABC amounts necessary to meet ABC's expenses if
sufficient revenues are not generated therefore to the extent that gross profits
are insufficient to pay ABC's costs and expenses. If and when loaned, the loan
will be evidenced by a non-interest bearing unsecured corporate note to be
treated as a loan until repaid, if and when ABC has the financial resources to
do so.
The parties hereto understand that the above constitutes a binding
Agreement and that the contents thereof are referred to in the aforesaid
Registration Statement in the "Management's Discussion and Analysis or Plan of
Operation" section.
The above constitutes the entire Agreement between the parties hereto.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the 24th day of January 2005.
ABC FUNDING, INC.
/s/
By: ________________________________
Xxxxxx Xxxxxx, President
/s/
By: _________________________________
Xxxxxx Xxxxxx , Individually
