CONSULTANT COMPENSATION AGREEMENT
THIS CONSULTANT COMPENSATION AGREEMENT (the "Plan") is made
this 21st day of February, 2001, between NPC Holdings, Inc., a Nevada
corporation ("NPC "), and Justeene Xxxxxxxxxxx, who has executed and
delivered this Plan by the execution and delivery of the Counterpart
Signature Page which is designated as Exhibit "A"
WHEREAS, the Board of Directors of NPC has adopted a
written compensation agreement for compensation of Justeene Xxxxxxxxxxx, ,
a natural person; and
WHEREAS, NPC engaged Xx. Xxxxxxxxxxx approximately nine
months ago to provide services at the request of and subject to the
satisfaction of its management, and Xx. Xxxxxxxxxxx provided services prior
to said engagement for NPC's predecessor, for which NPC agrees to
compensate Xx. Xxxxxxxxxxx; and
WHEREAS, Xx. Xxxxxxxxxxx has provided services at the
request and subject to the approval of the management of NPC ; and
WHEREAS, a general description of the nature of the services
performed and to be performed and the maximum value of such services under
this Plan are listed in the Counterpart Signature Page and exhibit thereto;
and
WHEREAS, NPC and Xx. Xxxxxxxxxxx intend that this Plan and
the services performed hereunder shall be made, requested and performed in
such a manner that this Plan shall be a "written compensation agreement" as
defined in Rule 405 of the Securities and Exchange Commission
("Commission") pursuant to which NPC may issue "freely tradeable" shares
(except as may be limited by "affiliate" status) of its common stock as
payment for services rendered pursuant to an S-8 Registration Statement to
be filed with the Commission by NPC ;
NOW, THEREFORE, in consideration of the mutual covenants and
promises contained herein, it is agreed:
Section 1
Compensation Plan
1.1 Employment. NPC hereby employs Xx. Xxxxxxxxxxx and Xx.
Xxxxxxxxxxx hereby accepts such employment, and has and will perform the
services requested by management of NPC to its satisfaction during the
term hereof. The services performed by Xx. Xxxxxxxxxxx hereunder have been
and will be personally rendered by Xx. Xxxxxxxxxxx, and no one acting for
or on behalf of Xx. Xxxxxxxxxxx, except those persons normally employed by
Xx. Xxxxxxxxxxx in rendering services to others, such as secretaries,
bookkeepers and the like.
1.2 Independent Contractor. Regardless of Xx. Xxxxxxxxxxx'x
status as "employees" under Rule 405 of the Commission, all services
rendered by Xx. Xxxxxxxxxxx hereunder have been rendered as an independent
contractor, and Xx. Xxxxxxxxxxx shall be liable for any FICA taxes,
withholding or other similar taxes or charges, and Xx. Xxxxxxxxxxx shall
indemnify and hold NPC harmless therefrom; it is understood and agreed
that the value of all such items has been taken into account by Xx.
Xxxxxxxxxxx in computing the billable rate for the services Xx. Xxxxxxxxxxx
has rendered and agreed to render to NPC .
1.3 Term. All services performed at the request of NPC by Xx.
Xxxxxxxxxxx have either been performed and completed, or shall be performed
within twelve months from the date hereof, at which time this Plan shall
terminate.
1.4 Payment. NPC and Xx. Xxxxxxxxxxx agree that NPC shall pay
the invoices of Xx. Xxxxxxxxxxx for the services performed under this Plan
by the issuance of shares of its common stock at a price of $.05 per share;
provided, however, such shares of common stock shall be issued pursuant to
and shall be subject to the filing and effectiveness of a Registration
Statement on Form S-8 covering such shares with the Commission.
1.5 Invoices for Services. Xx. Xxxxxxxxxxx has provided NPC
with written invoices detailing the services duly performed and/or the
retainer or flat fee for such services. Such invoices shall be paid by NPC
in accordance with Section 1.4 above. The submission of an invoice for the
services performed by Xx. Xxxxxxxxxxx shall be deemed to be a subscription
to purchase shares of common stock of NPC at the price outlined in Section
1.4 above, subject only to the filing and effectiveness of a Registration
Statement on Form S-8 covering such shares with the Commission.
1.6 Common Stock Price. To the extent deemed required or
necessary and for all purposes of this Plan, Xx. Xxxxxxxxxxx shall have an
"option" covering such shares of common stock at the per share price set
forth in paragraph 1.4 above during the term hereof; Xx. Xxxxxxxxxxx
assumes the risk of any decrease in the per share price or value of the
shares of common stock of NPC that may be issued by NPC for services
performed by Xx. Xxxxxxxxxxx hereunder, and Xx. Xxxxxxxxxxx agrees that any
such decrease shall in no way affect the rights, obligations or duties of
Xx. Xxxxxxxxxxx hereunder.
1.7 Limitation on Services. None of the services rendered by
Xx. Xxxxxxxxxxx and paid for by the issuance of shares of common stock of
NPC shall be services related to any "capital raising" transaction.
1.8 Delivery of Shares. Subject to the filing and effectiveness
of a Registration Statement on Form S-8 of the Commission covering such
shares, one or more stock certificates representing such shares shall be
delivered to Xx. Xxxxxxxxxxx at the addresses listed on the Counterpart
Signature Pages, unless another address shall be provided to NPC in
writing prior to the issuance of such shares.
1.9 Adjustments in the Number of Shares of Common Stock and
Price Per Share. NPC and Xx. Xxxxxxxxxxx agree that the per share price
of shares of common stock that may be issued by NPC to Xx. Xxxxxxxxxxx for
services performed under this Plan has been arbitrarily set by NPC , and
was determined based upon an agreed upon value of the stock six months
prior to this Agreement; however, in the event NPC shall undergo a merger,
consolidation, reorganization, recapitalization, declare a stock dividend
of its shares of common stock or cause to be implemented a forward or
reverse stock split which affects the present number of issued and
outstanding shares of common stock of NPC prior to the issuance of shares
to Xx. Xxxxxxxxxxx, that the per share price and the number of shares
issuable to Xx. Xxxxxxxxxxx for services actually rendered hereunder after
such event shall be appropriately adjusted to reflect any such event.
1.10 Effective Date. The Effective Date of the Plan for Xx.
Xxxxxxxxxxx shall be the date set forth on the respective Counterpart
Signature Pages.
Section 2
Representations and Warranties of NPC
NPC represents and warrants to, and covenants with, Xx.
Xxxxxxxxxxx as follows:
2.1 Corporate Status. NPC is a corporation duly organized,
validly existing and in good standing under the laws of the State of Nevada
and is licensed or qualified as a foreign corporation in all states in
which the nature of its business or the character or ownership of its
properties makes such licensing or qualification necessary.
2.2 Compensation Plan. The Board of Directors of NPC has duly
adopted a Compensation Plan as defined in Rule 405 of the Commission
pursuant to which NPC may issue "freely tradeable" shares of its common
stock as payment for services rendered, subject to the filing and
effectiveness of an S-8 Registration Statement to be filed with the
Commission by NPC .
2.3 Registration Statement on Form S-8. NPC shall engage the
services of a competent professional to prepare and file a Registration
Statement on Form S-8 with the Commission to cover the shares of common
stock to be issued under the Plan; shall cooperate with such professional
in every manner whatsoever to the extent reasonably required or necessary
so that such Registration Statement shall be competently prepared, which
such Registration Statement shall not contain any untrue statement of a
material fact or omit to state a material fact necessary in order to make
the statements made therein, in light of the circumstances under which they
were made, not misleading, and which such Registration Statement shall
become effective immediately upon its filing; such Registration Statement
shall be prepared at the sole cost and expense of NPC ; and NPC will
provide to Xx. Xxxxxxxxxxx prior to the issuance and delivery of any such
shares of common stock a copy of such Registration Statement, the
Compensation Plan adopted by its Board of Directors, all quarterly, annual
or current reports or other documents incorporated by reference into such
Registration Statement and any other similar reports filed or publicly
disseminated following the effective date of any such Registration
Statement.
2.4 Federal and State Securities Laws, Rules and Regulations.
NPC shall fully comply with any and all federal or state securities laws,
rules and regulations governing the issuance of any such shares of common
stock.
2.5 Limitation on Services. NPC shall not request Xx.
Xxxxxxxxxxx to perform any services in connection with any "capital
raising" transaction under this Plan.
2.6 Reports With the Commission. NPC is required to file
reports with the Commission pursuant to Section 13 of the Securities
Exchange Act of 1934, as amended (the "1934 Act"), and NPC has or will
file with the Commission all reports required to be filed by it forthwith,
and shall continue to file such reports with the Commission so long as
required, but for a period of not less than one year; and such reports are
or will be true and correct in every material respect.
2.7 Corporate Authority and Due Authorization. NPC has full
corporate power and authority to enter into this Plan and to carry out its
obligations hereunder. Execution of this Plan and performance by NPC
hereunder have been duly authorized by all requisite corporate action on
the part of NPC , and this Plan constitutes a valid and binding obligation
of NPC and performance hereunder will not violate any provision of the
Articles of Incorporation, Bylaws, agreements, mortgages or other
commitments of NPC .
Section 3
Representations and Warranties of Xx. Xxxxxxxxxxx
Xx. Xxxxxxxxxxx represents and warrants to, and covenants
with, NPC as follows:
3.1 Employment. Xx. Xxxxxxxxxxx hereby accepts employment by
NPC for the services performed pursuant to this Agreement. The services
performed by Xx. Xxxxxxxxxxx hereunder have been personally rendered by Xx.
Xxxxxxxxxxx, and persons who he employs or contracts with in the regular
course of business.
3.2 Accredited Investors. Xx. Xxxxxxxxxxx represents and
warrants that, by reason of income, net assets, education, background and
business acumen, Xx. Xxxxxxxxxxx has the experience and knowledge to
evaluate the risks and merits attendant to an investment in shares of
common stock of NPC , either singly or through the aid and assistance of a
competent professional, and are fully capable of bearing the economic risk
of loss of the total investment of services; further, he is an "accredited
investor" as that term is defined under the 1933 Act or the rules and
regulations promulgated thereunder.
3.3 Suitability of Investment. Prior to the execution of this
Plan, Xx. Xxxxxxxxxxx shall have provided the services outlined in the
respective Counterpart Signature Pages to NPC , and Xx. Xxxxxxxxxxx fully
believes that an investment in shares of common stock of NPC is a suitable
investment for Xx. Xxxxxxxxxxx
3.4 Limitation on Services. None of the services rendered by
Xx. Xxxxxxxxxxx and paid for by the issuance of shares of common stock of
NPC shall be services related to any "capital raising" transaction.
3.5 Authority and Authorization. Xx. Xxxxxxxxxxx has full power
and authority to enter into this Plan and carry out the obligations
hereunder. Execution of this Plan and performance by Xx. Xxxxxxxxxxx
hereunder constitutes a valid and binding obligation of Xx. Xxxxxxxxxxx and
performance hereunder will not violate any other agreement to which he is a
party.
Section 4
Indemnity
NPC and Xx. Xxxxxxxxxxx agree to indemnify and hold the
other harmless for any loss or damage resulting from any misstatement of a
material fact or omission to state a material fact by the other contained
herein or contained in the S-8 Registration Statement of NPC to be filed
hereunder, to the extent that any misstatement or omission contained in the
Registration Statement was based upon information supplied by the other.
Section 5
Termination
Prior to the performance of services hereunder, this Plan
may be terminated (1) by mutual consent of NPC and Xx. Xxxxxxxxxxx in
writing; (2) by either the Directors of NPC or Xx. Xxxxxxxxxxx if there
has been a material misrepresentation or material breach of any warranty or
covenant by the other party; and (3) shall automatically terminate at the
expiration of the term hereof, provided, however, all representations and
warranties shall survive the termination hereof; provided, further,
however, that any obligation of NPC to pay for any services actually
rendered by Xx. Xxxxxxxxxxx hereunder shall survive any such termination.
Section 6
General Provisions
6.1 Further Assurances. At any time, and from time to time,
after the execution hereof, each party will execute such additional
instruments and take such action as may be reasonably requested by the
other party to carry out the intent and purposes of this Plan.
6.2 Notices. All notices and other communications hereunder
shall be in writing and shall be deemed to have been given if delivered in
person or sent by prepaid first-class registered or certified mail, return
receipt requested, as follows:
If to NPC : 0000 X Xxxxxxxx Xx., Xxxxx 000
Xxxx Xxxx Xxxx, XX 00000
If to Consultant: 0000 Xxxxx Xxxxxxxx Xxxxx #000X
Xxxx Xxxx Xxxx, XX 00000
6.3 Entire Agreement. This Plan constitutes the entire
agreement between the parties and supersedes and cancels any other
agreement, representation, or communication, whether oral or written,
between the parties hereto relating to the transactions contemplated herein
or the subject matter hereof.
6.4 Headings. The section and subsection headings in this Plan
are inserted for convenience only and shall not affect in any way the
meaning or interpretation of this Plan.
6.5 Governing law. This Plan shall be governed by and construed
and enforced in accordance with the laws of the State of Nevada, except to
the extent pre-empted by federal law, in which event (and to that extent
only), federal law shall govern.
6.6 Assignment. Neither NPC nor Xx. Xxxxxxxxxxx can assign
any rights, duties or obligations under this Plan, and in the event of any
such assignment, such assignment shall be deemed null and void.
6.7 Counterparts. This Plan may be executed simultaneously in
one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Plan effective
the day and year first above written.
NPC Holdings, Inc.
By /s/ Xxxxx Xxxxx
---------------------------
Xxxxx Xxxxx, President & Director
EXHIBIT "A"
CONSULTANT COMPENSATION AGREEMENT
COUNTERPART SIGNATURE PAGE
THIS COUNTERPART SIGNATURE PAGE for that certain Consultant
Compensation Agreement between NPC Holdings, Inc. and the undersigned
Consultant is executed as of the date set forth herein below.
Consultant:
/s/ Justeene Xxxxxxxxxxx
0000 Xxxxx Xxxxxxxx Xxxxx #000X
Xxxx Xxxx Xxxx, XX 00000
Date: February 22, 2001
PARTICIPANT RESPONSE LETTER
With regard to the 200,000 shares to be issued to me for services rendered
to the Company I submit the following invoice.
INVOICE
Services rendered on behalf of NPC Holdings, Inc.:
- Preliminary preparation and submission
of periodic filings for the SEC
- Preparation of unaudited financial statements
on a quarterly and annual basis.
- Coordinate and consult with attorney, accountant
and management on filings, merger candidates and
Board of Directors actions.
Total Due: 200,000 shares of
common stock
Thank you for your consideration in this matter. If you have any
questions, please do not hesitate to contact me.
Sincerely,
/s/ Justeene Xxxxxxxxxxx
