Exhibit 10.3
AGREEMENT
THIS AGREEMENT dated as of September 1, 1999 between American Gaming &
Entertainment, Ltd., a Delaware Corporation (the "Company"), and J. Xxxxxxx
Xxxxxxxxxx, President of the Company ("Lessor").
WHEREAS, Lessor is performing his duties for the Company from his
residence, and
WHEREAS, the Company is saving the cost of an office for Lessor, and
WHEREAS, as a result of the foregoing arrangement, Lessor is incurring
increased utility costs and other expenses,
NOW THEREFORE, in consideration of the premises and the mutual covenants
herein contained, the parties hereto agree as follows:
1. The Company shall pay the Lessor one hundred dollars ($100) per month
for each month that Lessor uses his residence in connection with his
performance of his duties for the Company.
2. If the residence of the Lessor is used for more than three days in a
month by non-Company personnel (excluding Xxx Xxxxxxx, consultant) in
connection with the business of the Company, the Company shall pay the Lessor
an additional four hundred fifty dollars ($450) for such month.
IN WITNESS WHEREOF, the Company has caused this agreement to be signed by
the Compensation Committee of the Board, and Lessor has executed this
agreement, as of the day and the year first written above.
AMERICAN GAMING & ENTERTAINMENT, LTD.
By: XXXXXXX XXXXXXXX
____________________________________
Name: Xxxxxxx Xxxxxxxx
Title: Compensation Committee
J. XXXXXXX XXXXXXXXXX
____________________________________
J. Xxxxxxx Xxxxxxxxxx
10K Xxxxx final full.doc
