CONSULTING AGREEMENT ADDENDUM
This Addendum ("Addendum") is made and entered into and effective on this
1st day of August, 2004 by and between IQ BIOMETRIX, INC., a Delaware
corporation with a principal place of business at Suite 304, 00000 Xxxxx Xxxxx
Xxxxxxx, Xxxxxxx, Xxxxxxxxxx 00000 ("Company"), and XXXXXX XXXXXXXX with an
address of 000 Xxxxxxx Xxxxxx, Xxxxx 0000, Xxx Xxxxxxxxx, XX 00000
("Consultant"). The Company desires to retain Consultant as an independent
contractor to perform consulting services for the Company, and Consultant is
willing to perform such services, on terms set forth more fully below. In
consideration of the mutual promises contained herein, the parties agree as
follows:
1. SERVICES, COMPENSATION, AND TERM
1.1 Consultant agrees to perform for the Company the services ("Services")
described in the Agreement dated August 1, 2003 ("Agreement). All terms and
conditions from the Agreement shall continue and be used for this Addendum,
unless changed by this Addendum.
1.2 The term of this Addendum is six (6) months.
1.3 Compensation shall be the same as in the Agreement, Appendix A. In
addition, the Board of Directors or authorized committee thereof will grant to
the Consultant a warrant to purchase 300,000 shares of common stock over the
Term of the Agreement, prorated quarterly in advance. This grant will replace
the grant of 200,000 shares from the original Agreement. The warrant shall be
exercisable at any time before midnight on July 31, 2009. The exercise price
shall be set equal to the fair market value of the underlying common stock as of
the date of grant. The warrant shall also provide for "cashless" exercise. .
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year below.
DATE: COMPANY
IQ BIOMETRIX, INC.
August 1, 2004 By:
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Xxxxxxx X. X. Xxxxxxxxx
President and Chief Executive Officer
DATE: CONSULTANT
XXXXXX XXXXXXXX
August 1, 2004 By:
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Xxxxxx XxXxxxxx
