EXHIBIT 10.1
National Beauty Corp Non-qualified 2001 Stock Plan
THIS CONSULTING SERVICES PLAN (the "Plan") is made as of the 4th day of
September, 2001 between National Beauty Corp. a Nevada Corporation (the
"Company"), for the Officers, Directors and Consultants below (the
"Consultants").
R E C I T A L S:
The Company is under agreement to grant ("Consulting Agreements"), and the
Consultants, Officers and Directors are to receive, as compensation for services
provided to the Company, shares of the common stock of the Company (the "Common
Stock"), pursuant to the provisions set forth herein;
NOW, THEREFORE, in consideration of the mutual promises, covenants, terms and
conditions herein, and other good and valuable considerations, the receipt and
sufficiency of which are hereby acknowledged by the parties, the parties agree
as follows:
1. Grant of Shares. The Company hereby grants to the Consultants the following
shares of Common Stock (the "Shares") in the Company.
Name # of Shares Service Type
---- ----------- ------------
Xxxx Xxxxx 100,000 Consulting
Xxxxxx Xxxx 100,000 Service as Director
Xxxxxx Xxxxxxxx 5,000 Legal Services
2. Services. Consultants, Officers and Directors have been engaged by the
Company as in their respective Agreements.
3. Compensation. Consultants, Officers and Directors compensation is the
Shares identified herein. The parties agree the Shares are valued at par
value. Consultants, Officers and Directors are responsible for all income
taxes.
4. Registration or Exemption. Notwithstanding anything to the contrary
contained herein, the Shares will be registered on Form S-8 Registration
Statement dated September 4, 2001.
5. Delivery of Shares. The Company shall deliver to the Consultant
respectively, certificate representing 100,000 shares to Xxxx Xxxxx. The
Company shall deliver a certificate representing 100,000 shares to Xxxxxx
Xxxx. The Company shall deliver a certificate representing 5,000 shares to
Xxxxxx Xxxxxxxx.
6. Waiver. No waiver is enforceable unless in writing and signed by such
waiving party, and any waiver shall not be construed as a waiver by any
other party or of any other or subsequent breach.
7. Amendments.This Plan may not be amended unless by the mutual consent of
all of the parties hereto in writing.
8. Governing Law. This Plan shall be governed by the laws of the State of
Florida, and the sole venue for any action arising hereunder shall be Palm
Beach County, Florida.
9. Assignment and Binding Effect. Neither this Plan nor any of the rights,
interests or obligations hereunder shall be assigned by any party hereto
without the prior written consent of the other parties hereto, except as
otherwise provided herein. This Plan shall be binding upon and for the
benefit of the parties hereto and their respective heirs, permitted
successors, assigns and/or delegates.
10. Integration and Captions. This Plan includes the entire understanding of
the parties hereto with respect to the subject matter hereof. The captions
herein are for convenience and shall not control the interpretation of this
Plan.
11. Legal Representation. Each party has been represented by independent legal
counsel in connection with this Plan, or each has had the opportunity to
obtain independent legal counsel and has waived such right, and no tax
advice has been provided to any party.
12. Construction. Each party acknowledges and agrees having had the opportunity
to review, negotiate and approve all of the provisions of this Plan.
13. Cooperation. The parties agree to execute such reasonable necessary
documents upon advice of legal counsel in order to carry out the intent and
purpose of this Plan as set forth herein above.
14. Hand-Written Provisions. Any hand-written provisions hereon, if any, or
attached hereto, which have been initialed by all of the parties hereto,
shall control all typewritten provisions in conflict therewith.
15. Fees, Costs and Expenses. Each of the parties hereto acknowledges and
agrees to pay, without reimbursement from the other party(ies), the fees,
costs, and expenses incurred by each such party incident to this Plan.
16. Consents and Authorizations. By the execution herein below, each party
acknowledges and agrees that each such party has the full right, power,
legal capacity and authority to enter into this Plan, and the same
constitutes a valid and legally binding Plan of each such party in
accordance with the terms, conditions and other provisions contained
herein.
17. Gender and Number. Unless the context otherwise requires, references in
this Plan in any gender shall be construed to include all other genders,
references in the singular shall be construed to include the plural, and
references in the plural shall be construed to include the singular.
18. Severability. In the event anyone or more of the provisions of this Plan
shall be deemed unenforceable by any court of competent jurisdiction for
any reason whatsoever, this Plan shall be construed as if such
unenforceable provision had never been contained herein.
19. Counterparts. This Plan may be executed in counterparts.
20. Facsimile. This Plan may be executed by facsimile.
NATIONAL BEAUTY CORP.
/s/ Xx Xxxx
By: Xx Xxxx President
