EXHIBIT 10.1
LEGAL SERVICES AGREEMENT
This Legal Services Agreement (the "Agreement") is entered into this 12th
day of July, 2001 is by and amongst Dynamic I-T, Inc. (the "Company") and M.A.
Xxxxxxx ("Attorney").
WHEREAS, Attorney is providing legal services, and has provided legal
services to Company in the past;
WHEREAS, the Attorney is due approximately $40,000 as a result of
prior services rendered to the Company to date;
NOW THEREFORE, in consideration of the mutual covenants contained
herein and other good and valuable consideration receipt whereof is hereby
acknowledged it is agreed.
1. The Company hereby has engaged the Attorney for legal services and
wishes to pay Attorney and has agreed to payment of fees due for services
already rendered through issuance of stock.
2. In consideration of the services already provided, Attorney shall
receive a fee equal to 333,333 shares of the Company's common stock which shall
be issued for $40,000 of the accrual due and owing as a result of prior services
rendered to the Company by the Attorney. Further, the Company will issue 166,667
shares for services to be rendered in the immediate future.
3. The Company will register all the compensation shares pursuant to a
registration statement on Form S-8.
4. Except as otherwise provided herein, any notice or other communication
to any party pursuant to or relating to this Agreement and the transactions
provided for herein shall be deemed to have been given or delivered when
deposited in the United States Mail, registered or certified, and with proper
postage and registration or certification fees prepaid, addressed at their
principal place of business or to such other address as may be designated by
either party in writing.
5. This Agreement shall be governed by and interpreted pursuant to the laws
of the state of Colorado. By entering into this Agreement, the parties agree to
the jurisdiction of the Colorado courts with venue in Jefferson, County
Colorado. In the event of any breach of this Agreement, the prevailing party
shall be entitled to recover all costs including reasonable attorney's fees.
6. This Agreement may be executed in any number of counterparts, each of
which when so executed an delivered shall be deemed an original, and it shall
not be necessary, in making proof of this Agreement to produce or account for
more than one counterpart.
IN WITNESS WHEREOF, the parties hereto have subscribed their hands and
seals the day and year first above written.
ATTORNEY: COMPANY:
M.A. Xxxxxxx DYNAMIC I-T, Inc.
/s/M.A. Xxxxxxx /s/Xxxxxxx X. Xxxxx
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M.A. Xxxxxxx Xxxxxxx X. Xxxxx, President
