EXHIBIT 10.7
Bio-One Corporation
===============================================================================
000 Xxxxxxx Xxxxx, Xxxxx 000 x Xxxx Xxxx, XX 00000
o (000) 000-0000 o Fax (000) 000-0000
XXXXX XXXXXX CONSULTING AGREEMENT SUMMARY
OBJECTIVES
1) RAISE CAPITAL
2) BUILD REVENUES
3) COUNSEL MANAGEMENT
COMPENSATION FORMULA
1) RAISE CAPITAL
A) ROUND ONE (PRE-PUBLIC)
o 10% ON THE CASH RAISED AND PAID IN CASH
o 10% ON THE STOCK ISSUED AND PAID IN "144" STOCK
o THIS APPLIES TO ALL THOSE THAT CONSULTANT BRINGS IN
B) ROUND TWO (POST PUBLIC)
o 7% ON THE FIRST $5 MILLION ON DIRECT CASH RAISED
o 5% ON EVERYTHING ABOVE $5 MILLION ON DIRECT CASH RAISED
o 20% OF THE FEE PAID TO THOSE INTRODUCED BY CONSULTANT WITH A CAP
ON TOTAL FEES PAID OF 8.4% ON THE FIRST $5 MILLION AND 6% ON
EVERYTHING ABOVE $5 MILLION
o ALL FEES TO BE PAID IN "144" STOCK AND AT A 20% DISCOUNT FROM THE
PREVIOUS 90 DAY DAILY TRADING AVERAGE
2) BUILD REVENUES
A) FOR EACH $10 MILLION IN ANNUAL REVENUES CONSULTANT WOULD RECEIVE
100,000 SHARES OF "144" STOCK
3) COUNSEL MANAGEMENT
A) $1,500 PER DAY
B) AN "HONOR SYSTEM" OF ACCOUNTING FOR HOURS
C) PAID QUARTERLY IN "144" STOCK AND AT A 20% DISCOUNT FROM THE PREVIOUS
90 DAY DAILY TRADING AVERAGE
NOTES: 1) This agreement is to cover the time span for the consultant to earn
one million shares of "144" stock. Once that has been achieved, then the
consultant and the Company would negotiate the future fee structure.
2) Fees that have been accruing for services rendered since October,
2000 are to be included in this compensation formula.
Bio-One Corporation Consultant
/s/ Xxxxxx Xxxxxxxxx 1/17/01 /s/Xxxxx Xxxxxx
---------------------------- ----------------------------
Xxxxxx Xxxxxxxxx, President Xxxxx Xxxxxx, Consultant
