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Title: |
Consulting Agreement |
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Entities: |
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Date: |
2001 |
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Preview shows 5KB of 31KB total |
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Price: |
$38 |
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ID: |
#862657 |
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CONSULTING AGREEMENT
This CONSULTING AGREEMENT (the "Agreement") made as of April ___, 2001,
by and between, INFOTOPIA, INC., a Nevada corporation, (hereinafter the
"Company") and I NET FINANCIAL MANAGEMENT, LTD., a British Virgin Islands
corporation (hereinafter "Consultant").
WHEREAS, the Company wishes to retain Consultant to provide certain
consulting services to the Company as described more particularly herein; and
WHEREAS, Consultant desires to render such consulting services to the
Company, on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:
1. Provision of Services.
(a) Consultant agrees, to the extent required in the conduct of the
business of the Company, to place at the disposal of the Company Consultant's
judgment and experience, and to provide the following business development
services to the Company (all such services hereinafter described as the
"Consulting Services"):
(i) Work with Company management in developing and
implementing a plan with respect to the Company's
capital structure;
(ii) Advise the Company with respect to potential
acquisition transactions, including the structure of
such transactions, and assist the Company in its
completion of any related due diligence reviews;
(iii) Assist the Company in developing plans, and assist in
the implementation of such plans, for product line
extensions and retail distribution;
(iv) Assist the Company in identifying and calling upon
potential strategic partners and customers;
(v) Represent the Company in making presentations to
potential partners and customers;
(vi) Review of and advice with respect to the Company's
business plan as it relates to investment
presentations and sales presentations;
<PAGE> 2
(vii) Represent the Company in negotiations, interaction
with legal and accounting personnel and meetings with
investment banking firms, potential investors and
other sources of capital; and
(viii) Advise the Company with respect to the raising of
equity and/or debt.
(b) Consultant agrees to use its reasonable best efforts in providing
the Consulting Services to the Company and shall devote such time and effort to
the provision of the Consulting Services as shall be reasonable in Consultant's
discretion.
2. Compensation.
(a) In consideration of Consultant's services, the Company agrees to
pay Consultant in advance on the first day of each calendar month during the
term of this Agreement a nonrefundable consulting fee of $12,500 per calendar
month for each of the first three (3) calendar months during the term of this
Agreement and $15,000 per calendar month thereafter, which consulting fee shall
be prorated for the first month of the term based on the number of days from and
including the date of this Agreement through the last day of the first calendar
month (the "Consulting Fee"); provided, however, that after twelve (12) months
such Consulting Fee may be offset by commissions earned by Consultant under
Section 4 of this Agreement. The Company further agrees to reimburse Consultant
for reasonable pre-approved expenses incurred by Consultant in connection with
the provision of the Consulting Services hereunder. If Consultant conducts
business activities other than for the Company during a pre-approved business
trip Consultant shall disclose that it has conducted other activities and
document the amount of time devoted to each of the business activities during
such trip, and the trip expenses will be shared pro rata. Consultant shall
record such activities in an expense report for each pre-approved trip. Expenses
are to be paid within ten (10) business days of receipt by Company of requests
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