EXTENSION AGREEMENT
THIS EXTENSION AGREEMENT (the "Extension Agreement") is entered
into as of the 31st day of August, 2002 by and between Xxxxx Xxxxxx and
the persons whose signatures appear below.
Whereas Xxxxx Xxxxxx and the persons whose signatures appear
below entered into a Stock Option Agreement ("Option Agreement"),
dated March 6, 2002, and extension thereto on July 1, 2002.
Whereas, the parties have agreed to amend the exercise periods
and other terms described on Schedule 1.1 attached to the Option
Agreement.
Now therefore:
1. In consideration of (i) the execution of the Sales
Restriction Agreement of even date hereof between PR
Specialists, Inc., a Delaware corporation (the "Company");
and Xxxxx Xxxxxx; and (ii) the sum of $10.00 and other good
and valuable consideration, the receipt of which is
acknowledged by the parties; the parties agree to amend the
exercise periods and other terms described on Schedule 1.1
attached to the Option Agreement to reflect the exercise
periods and other terms described on Schedule 1.1 attached
to this Extension Agreement.
2. This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original but all of which
together will constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Extension
Agreement as of the date first written above.
________________________ ________________________
Witness Xxxxx Xxxxxx
________________________ ________________________
Witness Xxxxx Xxxxxx
________________________ ________________________
Xxxxxxx X. Xxxxxx Xxxx Xxxxxxxxx
________________________ ________________________
Xxxxxxx Xxxxx Xxxxxxx X. Xxxxxx
________________________ ________________________
Xxxxx Xxxxx The Xxxxxx Trust,
Xxxxx Xxxxxxxxx, Trustee
________________________
Xxxxxxx Services Group, Inc.,
Xxxxxxx X'Xxxxx, President
Schedule 1.1
Transfer of Shares of Stock
Pursuant to the terms of the Option Agreement, on the Effective
Date, in exchange for $50,000 cash, the Stockholder shall grant and
each Optionee shall acquire, the Option(s), whereby during the
Exercise Periods described below, each Optionee will be provided the
opportunity to exercise such Option(s) and purchase the Stockholder's
shares of common stock of PR Specialists in exchange for cash
consideration, all pursuant to the terms and conditions set forth
below.
Pursuant to the terms of the Option Agreement, the Optionee (or
his agent) agrees to deliver to the Stockholder (or his agent) all of
the consideration set forth next to such Optionee's name. Also,
pursuant to the terms of the Option Agreement, the Stockholder (or his
agent) agrees to deliver to the Optionee (or his agent) the
Stockholder's original PR Specialists common stock share certificates,
along with any necessary stock transfer stamps and duly executed stock
powers in a form satisfactory to the Optionee (or his agent).
--------------------------------------------------------------------------------------------------
Name and Address No. of shares Per Share Total Exercise Period
of Optionee of Consideration Consideration From-To
Stockholder's to be Paid to be Paid
PR Specialists Upon Upon Full
common stock Exercise of Exercise of
under Option Option $ Option $
--------------------------------------------------------------------------------------------------
Xxxxx Xxxxxx 61,224 $0.10 $6,122.40 5/1/02-7/31/02
000 X. Xxxxxxxxxx Xxxxx, #000 61,224 $0.10 $6,122.40 8/1/02-10/31/02
Xxxxx Xxxxxxx, XX 00000 61,224 $0.10 $6,122.40 10/1/02-12/15/02
61,224 $0.10 $6,122.40 12/1/02-1/15/03
61,224 $0.10 $6,122.40 1/1/03-2/15/03
61,227 $0.10 $6,122.70 2/1/03-3/15/03
Xxxx Xxxxxxxxx 61,224 $0.10 $6,122.40 5/1/02-7/31/02
00 Xxxxx Xxxx 61,224 $0.10 $6,122.40 8/1/02-10/31/02
Xxxxx Cove, NY 61,224 $0.10 $6,122.40 10/1/02-12/15/02
61,224 $0.10 $6,122.40 12/1/02-1/15/03
61,224 $0.10 $6,122.40 1/1/03-2/15/03
61,227 $0.10 $6,122.70 2/1/03-3/15/03
Xxxxxxx X. Xxxxxx 61,224 $0.10 $6,122.40 5/1/02-7/31/02
00 Xxxxxxxxx Xx., 61,224 $0.10 $6,122.40 8/1/02-10/31/02
PH 24 61,224 $0.10 $6,122.40 10/1/02-12/15/02
Xxxxx Xxxxxx, XX 00000 61,224 $0.10 $6,122.40 12/1/02-1/15/03
61,224 $0.10 $6,122.40 1/1/03-2/15/03
61,227 $0.10 $6,122.70 2/1/03-3/15/03
The Xxxxxx Trust, 61,224 $0.10 $6,122.40 5/1/02-7/31/02
Xxxxx Xxxxxxxxx, Trustee 61,224 $0.10 $6,122.40 8/1/02-10/31/02
00 Xxxxxxx Xxxxx 61,224 $0.10 $6,122.40 10/1/02-12/15/02
Xxxxxx, Xxx Xxxx 00000 61,224 $0.10 $6,122.40 12/1/02-1/15/03
61,224 $0.10 $6,122.40 1/1/03-2/15/03
61,227 $0.10 $6,122.70 2/1/03-3/15/03
Xxxxxxx Xxxxx, 61,224 $0.10 $6,122.40 5/1/02-7/31/02
000 Xxxxxxx Xxxx Xxxxx 61,224 $0.10 $6,122.40 8/1/02-10/31/02
Xxxxxxxxxx, Xxxxxxx 00000 61,224 $0.10 $6,122.40 10/1/02-12/15/02
61,224 $0.10 $6,122.40 12/1/02-1/15/03
61,224 $0.10 $6,122.40 1/1/03-2/15/03
61,227 $0.10 $6,122.70 2/1/03-3/15/03
Xxxxxxx Services Group, Inc. 61,224 $0.10 $6,122.40 5/1/02-7/31/02
000 X. Xxxxxxxxx Xxxxxx 61,224 $0.10 $6,122.40 8/1/02-10/31/02
Xxxxx 000 61,224 $0.10 $6,122.40 10/1/02-12/15/02
Xxxx Xxxx Xxxxx, Xxxxxxx 00000 61,224 $0.10 $6,122.40 12/1/02-1/15/03
61,224 $0.10 $6,122.40 1/1/03-2/15/03
61,227 $0.10 $6,122.70 2/1/03-3/15/03
Xxxxx Xxxxx 61,224 $0.10 $6,122.40 5/1/02-7/31/02
00000 Xxxxx Xxxxxx 61,224 $0.10 $6,122.40 8/1/02-10/31/02
Suite 188 61,224 $0.10 $6,122.40 10/1/02-12/15/02
Xxxxxxxx, Xxxxxxxxxx 00000-0000 61,224 $0.10 $6,122.40 12/1/02-1/15/03
61,224 $0.10 $6,122.40 1/1/03-2/15/03
61,227 $0.10 $6,122.70 2/1/03-3/15/03
