Exhibit 10.2
Mount Vintage Plantation Golf Club, LLC
Post Office Box 706
Edgefield, South Carolina 29824
000-000-0000 (tele.)
000-000-0000 (fax)
July 2, 1998
Xx. Xxxxxx X. Xxxxxx
Highview Grainge
000 Xxxx Xxxx
Xxxxxxx, Xxxxx Xxxxxxxx 00000
Dear Xxx:
This letter confirms our agreement with you with respect to your role
with Mount Vintage Plantation Golf Club, LLC in the development of a golf course
and related facilities within Mount Vintage Plantation.
We understand that your role will include the following duties:
1. to lead and oversee the conceptual development of the project;
2. to manage the architects, engineers, surveyors, and wetlands
experts;
3. to interface with all governmental authorities and procure all
necessary permits and approvals;
4. to oversee and secure the necessary financing for the project,
including raising a minimum of $2 million in equity from
investors;
5. to oversee and manage the construction of the golf course and
all associated improvements;
6. to oversee and manage the marketing of the golf course
project.
In connection therewith, we agree to pay you a fee of One Hundred
Thousand Dollars ($100,000.00), which fee shall be contingent upon the closing
of the financing on the golf course and shall be payable out of the proceeds
thereof.
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If this meets with your understanding, please sign on the line at the
foot of this letter and return it to me at your earliest opportunity.
Thanking you and with best wishes, I remain
Very truly yours,
/s/ Xxxxxx X. Xxxxxxxxx
Xxxxxx X. Xxxxxxxxx
Approved:
/s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
Date: July 2, 1998
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