EXHIBIT 10.16
[GRAPHIC OMITTED]
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QUEST PRODUCTS CORPORATION
March 1, 2001
Xx. Xxxx X. "Xxxx" Xxxx
0000 Xxxxxxx Xxxx
Xxxxxx,XX 00000
Dear Xxxx:
This letter sets forth the conditions of your Consulting Agreement with Quest
Products Corporation, which will be formalized in an Agreement dated March 1,
2001.
Your duties will be to use your best efforts to locate and approach appropriate
organizations to participate in Quest's Big1Card project. This will include
introducing Quest and assisting in completing agreements with all such
institutions.
The following items will be incorporated in the Agreement:
1. The Consulting Agreement will be for a period of five years.
2. You will receive options to purchase 5 million shares of Quest stock, which
can be exercised at any time during the five-year Agreement either on a cash or
cashless basis.
- 2 million options will be issued at $.10
- 1 million options at $.15
- 1 million options at $.20
- 1 million options at $.30
Your signature below will acknowledge acceptance of these conditions.
We are pleased to have you on board and look forward to working with you to
successfully market the Big1Card.
Sincerely, Accepted:
/S/:
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Xxxxxx X. Xxxxxxxxx /S/:
Chairman and Chief Executive Officer ----------------------------
Xxxx X. "Xxxx" Xxxx
0000 Xxxxxxx Xxxxxxxx, Xxxxxxx, Xxx Xxxx 00000 Tel: (000) 000-0000
Fax: (000) 000-0000
