PBA- HISS Non-Exclusive Commission Agreement
Exhibit
10.17
PBA-
HISS
1.
PURPOSE OF AGREEMENT
This
agreement is being made between Personal Business Advisors LLC
(PBA),
hereinafter called PBA; and Homeland Integrated Security Systems, residing
in
Asheville, NC, hereinafter called HISS.
HISS
is
engaging Personal Business Advisors, LLC (PBA) to sell the company and/or find
investor(s) and/or
find financing for HISS.
2.
SUCCESS-ONLY FEE
HISS
agrees to pay PBA. for services described in Section 1, a success-only finder's
fee of 15% of the transaction, if
less
than
$1,000,000; or a 10% success-only finder's fee, if
the
transaction is more than $1,000,000.
PBA
has
to recruit the potential/buyer/investor(s)/ and/or have a substantial part
in
the negotiations, that ultimately leads to the sale of the company and/or
securing
investment(s) and/or financing for HISS. PBA will be entitled to its fee ONLY
for the initial consummated transaction. Subsequent transactions involving
the
same parties will not be subject to finders fees.
All
fees
due are to be paid at 00000 XX Xxxxxxx Xxxxx Xxxxx, Xxxxxxx, XX. 00000 or any
other place as PBA specifies, within 10 days of receipt of the cleared
investment funds.
3.
DURATION
This
Agreement shall remain in effect for 360 days. Upon expiration of this initial
period, it will be automatically renewed unless terminated thereafter with
30
days
written notice by
either
party.
4.
GENERAL
All
statements and correspondence will be directed to Xxxx Xxxxx, COO, Homeland
Integrated Security Systems at the address below. Both parties agree to provide
changes in address or telephone numbers. HISS agrees that PBA has given no
guarantees regarding the outcome of this engagement PBA agrees that HISS is
under no obligation to accept a transaction.
This
agreement shall be governed by and constructed in accordance with the laws
of
Florida.
Dated:
,May
24, 2005,
Dated: May
24, 2005
|
/s/
Xxxxxxxx X. Xxxxx
|
/s/
Xxx Xxxxxxxxx
|
|
For
HISS:
|
Intermediary
|
|
Xxx
Xxxxxxxxx,
Chairman
|
Xxxxxxxx
X. Xxxxx, COO
|
|
Personal
Business Advisors LlC
|
Homeland
Integrated Security Systems, Inc
|
|
00000
XX Xxxxxxx Xxxxx Xxxxx
|
000
Xxxxx Xx.
|
|
Xxxxxxx,
XX
00000
|
Xxxx
Xxxxx Xxxxxxx, XX
00000
|
|
Phone
000-000-0000
|
Phone:
561·000-0000
|
|
Fax
000-000-0000
|
Fax:
000-000-0000
|
New
Tampa
Professional Park, 0000 Xxxxxxx Xxxx Xxxxx, Xxxxx 000, Xxxxx, XX.
00000
