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Title: |
Consulting Agreement |
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Entities: |
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Date: |
2002 |
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Size: |
Preview shows 4KB of 19KB total |
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Price: |
$42 |
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ID: |
#1247241 |
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<SEQUENCE>5
<FILENAME>iod_ex10-b.txt
<DESCRIPTION>CONSULTING AGREEMENT
<TEXT>
CONSULTING AGREEMENT
THIS CONSULTING AGREEMENT (the "Agreement") is made and
entered into as of August 15, 2002 (the "Commencement Date"), by
and between INTERACTIVE OUTDOORS, INC. (the "Company") and
CORPFIN.COM, INC. (the "Consultant").
RECITALS
A. The Company desires to avail itself of the experience,
sources of information, advice, and assistance of Consultant.
B. Consultant is willing to make available to the Company
Consultant's experience, sources of information, advice, and
assistance.
NOW, THEREFORE, in consideration of the premises and the
covenants contained herein, the Company and the Consultant agree
as follows:
1. Services. Upon request of the Company, Consultant hereby
agrees to render services to the Company concerning marketing,
public relations, acquisitions, strategic planning, and business
opportunities of the Company or its affiliates, as well as
investment banking and similar services relative to financings
and other material transactions of the Company or its affiliates,
including by way of example and not in limitation of the
generality of the foregoing, (a) assistance and advice with
respect to planning, analyzing, and forecasting long-term
financial outlook and needs, (b) assistance and advice with
respect to locating, arranging, negotiating, analyzing, and
obtaining debt and equity resources, and (c) assistance and
advice with respect to capital market and investor relations
matters (collectively, the "Services").
2. Term of Agreement; Termination. This Agreement shall
commence on the Commencement Date and shall continue until one
year thereafter, unless extended otherwise by written consent of
the parties (the "Term").
Either party may terminate this Agreement upon notice to the
other party if the other party is in breach of its obligations
hereunder and such breach continues for sixty (60) days following
notice thereof from the non-breaching party to the breaching
party. Upon termination of this Agreement, any obligations of
the Company or Consultant shall cease.
3. Compensation. In consideration of Consultant's entering
into this Agreement and in exchange for the services to be
performed pursuant to this Agreement, the Company shall pay
Consultant (i) a fee of the number of shares of the Company's
common stock equal to 8% of the Company's issued and outstanding
common stock as of the effective date of the Registration
Statement, as defined below (the "Shares"), to be issued to the
Consultant (or its designees), and (ii) a warrant (the "Warrant"
and, together with the Shares, the "Consultant Fee") to purchase
100,000 shares of the Company's common stock exercisable at $2.00
per share. The Shares shall be deposited in an escrow account
with a law firm selected by the Consultant and be subject to a
mutually acceptable escrow agreement. The Consultant's right to
the Shares shall vest in four equal amounts beginning as of the
date of this Agreement with the remainder vesting in the same
amounts every thirty (30) days from such date until fully vested.
4. Registration Rights. (a) The Company agrees to cooperate
with Consultant in filing a registration statement to register
all of the Shares (as so filed or amended, the "Registration
Statement"), pursuant to the Securities Act of 1933, as amended,
and the Company further agrees that, after the Registration
Statement is declared effective, it will thereafter maintain the
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