DC PARTNERS LETTERHEAD] August 20, 2008
[DC
PARTNERS LETTERHEAD]
August
20, 2008
VIA
EMAIL
Xxxxxxx
Xxxxxx
CEO
Morlex,
Inc.
000
Xxxxxxxxx Xxxxxx, Xxxxx 000
New
York,
NY 10170
Re: Advisory
Agreement Amendment
Dear
Xx.
Xxxxxx:
This
letter will serve to amend and incorporate by reference the engagement agreement
dated January 10, 2008 between All Ad Acquisition, Inc., and its assignors
or
successors, and DC Associates LLC.
The
agreement is still in force and effect and is modified as follows:
2. |
Scope
of Work; Parameters:
|
Added:
DC
Associates shall advise the Company regarding: (i) the turnaround of its
operations, (ii) settlement with Xxxxx X. Xxxxx, (iii) restructuring the
Company, (iv) recapitalization of indebtedness and (v) the recruitment of
a
full-time Chief Executive Officer.
3. |
Fees:
|
One
million (1,000,000) shares of Common Stock of Morlex, Inc. upon successful
restructuring of Morlex, Inc.’s and its subsidiary’s indebtedness. Additional
compensation will be success-based and as determined by the Board of
Directors.
[Remainder
of page intentionally left blank]
Sincerely,
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DC
ASSOCIATES LLC
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By:
|
/s/
Xxxxxxx Xxxx
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Name:
|
Xxxxxxx
Xxxx
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Title:
|
President
|
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ACCEPTED
AND APPROVED:
|
||
MORLEX,
INC.
|
||
By:
|
/s/
Xxxxxxx Xxxxxx
|
|
Name:
|
Xxxxxxx
Xxxxxx
|
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Title:
|
CEO
|