Exhibit 10.8
CONSULTING AGREEMENT
This Agreement is made as of this 31st day of May 2001 by and between
Paragon Sports Group, Inc. (the "Company"), having its business offices at 0000
Xxxxxx Xxxxxx, Xxxxxxxx, Xxxx 00000 and WRA Consulting, Inc. with principal
offices at 000 Xxxx 00xx Xxxxxx, Xxxxx 000, Xxx Xxxx, Xxx Xxxx (the
"Consultant").
W I T N E S S E T H:
WHEREAS, the Company desires to retain the Consultant and the
Consultant desires to be retained by the Company, all pursuant to the terms and
conditions hereinafter set forth;
NOW, THEREFORE, in consideration of the foregoing and the mutual
promises and covenants herein contained, it is agreed as follows:
1. Retention. The Company hereby retains the Consultant to perform
non-exclusive consulting services related to corporate finance and other
matters, and the Consultant hereby accepts such retention and shall perform for
the Company the duties described herein, faithfully and to the best of its
ability. In this regard, subject to paragraph 7 hereof, the Consultant shall
devote such time and attention to the business of the Company as shall be
determined by the Consultant, subject to the direction of the President or Chief
Financial Officer of the Company. The Company agrees that the Consultant will
have the exclusive right to perform the services set forth herein.
a) The Consultant agrees, to the extent reasonably required in the
conduct of the business of the Company, and at the Company's request, to place
at the disposal of the Company its judgment and experience and to provide
business development services to the Company including the following:
(i) Review business plans and projections
(ii) Review financial data as it relates to raising financing
(iii) Advise on the Company's capital structure and on
alternatives for raising capital
(iv) Review and advise on prospective mergers and acquisitions,
both public and private, and on any financing required to
complete such transactions
(v) Review managerial needs
(vi) Advise on issues relating to public relations
2. Term. The Consultant's retention hereunder shall be for a term of
three years commencing on the date of this Agreement.
3. Compensation. As consideration for these services of the Company
will cause to be issued to the Consultant 800,000 shares of the Company's common
stock.
4. Status of Consultant. The Consultant shall be deemed to be an
independent contractor and, except as expressly provided or authorized in this
Agreement, shall have no authority to act for or represent the Company.
5. Other Activities of Consultant. The Company recognizes that the
Consultant now renders and may continue to render financial consulting and other
investment banking services to other companies which may or may not conduct
business and activities similar to those of the Company. The Consultant shall
not be required to devote its full time and attention to the performance of its
duties under this Agreement, but shall devote only so much of its time and
attention as it deems reasonable or necessary for such purposes.
6. Control. Nothing contained herein shall be deemed to require the
Company to take any action contrary to its Certificate of Incorporation or
By-Laws, or any applicable statute or regulation, or to deprive its Board of
Directors of their responsibility for any control of the conduct of the affairs
of the Company.
7. Notices. Any notices hereunder shall be sent to the Company and the
Consultant at their respective addresses above set forth. Any notice shall be
given by registered or certified mail, postage prepaid, and shall be deemed to
have been given when deposited in the United States mail. Either party may
designate any other address to which notice shall be given, by giving written
notice to the other of such change in address in the manner herein provided.
8. Governing Law. This Agreement has been made in the State of New York
and shall be construed and governed in accordance with the laws thereof without
regard to conflicts of laws, and each of the parties hereto irrevocably consents
to the jurisdiction are venue of the federal and state courts located in the
State of New York.
9. Entire Agreement. This Agreement contains the entire agreement
between the parties, may not be altered or modified, except in writing and
signed by the party to be charged thereby, and supersedes any and all previous
agreements between the parties.
10. Binding Effect. This Agreement shall be binding upon the parties
hereto and their respective heirs, administrators, successors, and assigns.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the
day and year above first written.
PARAGON SPORTS GROUP, INC.
By: /s/ Xxxx Xxxxxxx
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Name: Xxxx Xxxxxxx
Title: Chairman of the Board and
Chief Executive Officer
WRA CONSULTING, INC.
By: /s/ Xxxxx Xxxxxxxx
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Name: Xxxxx Xxxxxxxx
Title: President
