FINDER’S FEE AGREEMENT BY AND BETWEEN ACCOUNTABILITES, INC. and PYLON MANAGEMENT, INC.
EXHIBIT
10.20
FINDER’S
FEE AGREEMENT
BY
AND BETWEEN
ACCOUNTABILITES,
INC. and
PYLON
MANAGEMENT, INC.
This
will
confirm the finder’s Fee Agreement concerning compensation to be paid by
Accountabilities, Inc. (“AA”) to Pylon Management, Inc. (“Finder”) for finder
services rendered as a “finder” in connection with presenting the acquisition of
ReStaff Services, Inc. (“ReStaff”) a California corporation to AA.
Upon
the
closing of the Asset Purchase Agreement by and between Accountabilities,
Inc.
and ReStaff Services, Inc. dated February 26, 2007, Finder will be entitled
to a
sum equal to:
1. Cash
Payment:
|
|
*
|
Finder
will be granted a $300,000.00 cash payment in connection with the
acquisition of ReStaff Services, Inc., to be paid in equal weekly
installments at a rate of two thousand eight hundred eighty-five
dollars
($2885.00) per week.
|
2. Common
Stock:
|
|
*
|
Finder
will be granted 300,000 shares of Accountabilities, Inc. common
stock.
|
This
agreement and all of the rights and obligations of the parties hereunder
shall
be governed by and interpreted in accordance with the laws of the State of
New
Jersey. Each of us agrees that any legal action or proceeding against
it with respect to this agreement may be brought in the courts of the State
of
New Jersey, in the County of Monmouth, as either of us may elect and, by
execution and delivery hereof, each of us accepts and consents to, for itself
and in respect of its property, generally and unconditionally, the jurisdiction
of the aforesaid courts and agrees that such jurisdiction shall be exclusive,
unless waived by the other party in writing. Nothing herein shall
limit the right of either of us to bring proceedings against the other in
the
courts of any other jurisdiction to enforce any judgment.
AA
hereby
agrees to indemnify Finder and its officers and directors against and hold
them
harmless from any and all liability, loss, damage and expense (including
reasonable attorneys’ fees and expenses) of any kind which may be incurred by
any of them arising out of or in any way connected with this letter agreement
or
the performance of Finder.
If
the
foregoing accurately sets forth our agreement with respect to the subject
matter
hereof, please sign and return to Pylon Management, Inc. a copy of this
letter.
Agreed
and accepted this 26th day of
February
2007.
PYLON
MANAGEMENT, INC.
/s/
Xxxxx
Xxxxx
Xxxxx
Xxxxx
President
Agreed
and accepted this 26th day of
February
2007
ACCOUNTABILITES,
INC.
/s/
Xxxxx
Xxxxxxx
Xxxxx
Xxxxxxx
President
