AGREEMENT TO PROVIDE PROFESSIONAL SERVICES TO INSYNQ INC.
TERM:
This agreement made between Insynq Inc. 0000 Xxxxxxxx Xxxxx, Xxxxxx, XX. 00000
(Company) and Central Software Services Inc. 0000 Xxxxxxxxx Xxxx, Xxxxx 000
Xxxxxxxx Xxxxxxx, XX 00000 ("Consultant") to provide professional advisory
services for a period of 6 months starting July1, 2001 and ending
January 1, 2002.
NATURE OF SERVICES:
Consultant will spend 50 % of its available time to the Company to meet with
the management teams, advise and to provide technical analysis of like
companies to be acquired by the Company, or, to form a new operating subsidiary
of the Company to hold the newly acquired companies. Consultant shall also
provide additional support in the areas of marketing, short and long term
strategic planning.
PAYMENT TERMS:
1. A sum of $67,000 to be paid over the life of the contract. The total
amount shall be divided up as follows;
a. $7,500 upon the signing of this agreement.
b. The balance of $60,000 to be paid in 6 equal installments of
$10,000. The first payment (August) is a guaranteed payment.
2. In addition the Consultant shall receive 2 million shares of the
Company's restricted common stock and, such securities will be issued
and received by the Consultant no later than July 23, 2001.
3. *The Company will issue an additional 500,000 shares of restricted
securities upon the successful completion of each acquisition. To the
extent that Consultant was working on the subject account, the
500,000 shares would be due and payable even if the consultant is no
longer with the Company for a period of 6 months after the
Consultants departure as long as the company completes such an
acquisition.
4. An opinion letter will accompany both stock certificates from the
Company's legal council opining that such securities will be freely
tradable effective July 15, 2002. Any subsequent issuance of
restricted securities would have the same legal opinion to be
provided by the Company.
5. Reimbursement of any expenses for travel. All air travel and any
expenses over $250 would need to be authorized by the Company.
6. Either party shall have the right to cancel this agreement
immediately upon written notification to the other party. Any monies
paid or shares issued will be deemed earned by the consultant and
will be non-refundable upon cancellation of the agreement.
7. This agreement, dated July 10, 2001, supercedes and replaces, in its
entirety, the consulting agreement dated February 20, 2000 by and
between Xxxxx Xxxxxxxxxxxx.
8. Under the prior consulting agreement, any and all obligations between
the parties have been satisfied in full as long as all the payments
pursuant to this agreement, as in item #1 and item #2 have been made.
*Shares will be granted but will remain un-issued until proper stockholder
approval is received to increase the capital structure or to affect a reverse
split. Proper authorization shall occur no later than September 15, 2001.
Both 1 and 2 above will be done at the signing of this contract.
Agreed: Agreed:
/s/ Xxxx X. Xxxxx /s/ Xxxxx Xxxxxxxxxxxx
Xxxx Xxxxx, CEO Xxxxx Xxxxxxxxxxxx
Insynq Inc. Consultant
Central Software Services Inc
