CONSULTING AGREEMENT
Exhibit
10.1
This
Consulting Agreement dated March 11, 2005 (“Agreement”) is by and between, ERHC
ENERGY INC., a Colorado corporation (“Company”) and XXXXXX X. XXXXXXXXX, an
individual (“Consultant”).
W I T N E S S E T H:
WHEREAS,
Consultant desires to provide certain consulting services to the Company;
and
WHEREAS,
the Company and Consultant desire to set forth in writing the terms and
conditions of their agreement;
NOW,
THEREFORE, in consideration of the premises and the mutual covenants,
agreements, and considerations herein contained, the parties hereto agree as
follows:
1. Engagement. Subject
to the terms and provisions of this Agreement, the Company hereby affirms the
engagement of Consultant, as an independent contractor, to provide general legal
services.
2. Compensation. For
legal services performed by Consultant for the Company, the Company will issue
to Consultant 150,000 shares of common stock of the Company pursuant to a S-8
Registration Statement, which shares are valued at $87,000 based upon the
average of the high and low prices for a
share of Company
common stock on March 10, 2005, or $0.58, as reported on the OTC Bulletin
Board.
3. Status
Reports. At the
Company’s written request, Consultant shall prepare and submit to the Company a
written status report describing the status of any sales of the Company Common
Stock sold hereby.
4. Term. The
term of this Agreement shall commence on the date herein and shall continue in
full force and effect for a period of six months.
5. Miscellaneous.
(a) Assignment. All of
the terms, provisions and conditions of this Agreement shall be binding upon and
shall inure to the benefit of and be enforceable by the parties hereto and their
respective successors and permitted assigns. This Agreement shall not be
assigned or transferred by either party, nor shall any interest herein be
assigned, transferred, pledged or hypothecated by either party without the prior
written consent of the other party.
(b) Applicable
Law. This
Agreement shall be construed in accordance with and governed by the laws of the
State of Texas.
(c) Entire
Agreement, Amendments and Waivers. This
Agreement constitutes the entire agreement of the parties hereto and expressly
supersedes all prior and contemporaneous understandings and commitments, whether
written or oral, with respect to the subject matter hereof. No variations,
modifications, changes or extensions of this Agreement or any other terms hereof
shall be binding upon any party hereto unless set forth in a document duly
executed by such party or an authorized agent or such party.
IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day
and year first written above.
| ERHC
ENERGY INC.
By:
//s//
XXX XXXXX
CONSULTANT
By:
//s// XXXXXX X. XXXXXXXXX
Xxxxxx
X. Xxxxxxxxx |
