EXHIBIT 99.1
CONSULTING AGREEMENT
This Agreement is made effective as of the 22nd day of May, 2001, by and
between CYNET, Inc. and Xxxxxx Xxxxxxxxxx.
In this Agreement, the party who is contracting to receive services shall be
referred to as "Client" and the party who will be providing the services shall
be referred as to "Pursehouse."
Pursehouse has a background in Website development, improvement and consulting
and is willing to provide services to Client based on this background.
Client desires to have services provided by Xxxxxx Xxxxxxxxxx.
Therefore, the parties agree as follows:
1. DESCRIPTION SERVICES. Beginning on May 14, 2001, Pursehouse will
provide the following services (collectively, the "Services").
Developing and/or improving a World Wide website to be installed
on the client's web space on a web hosting services computer.
2. PERFORMANCE OF SERVICES. This manner in which the Services are
to be performed and the specific hours to be worked by Pursehouse
shall be determined by Pursehouse. Client will rely on
Pursehouse to work as many hours as may be reasonable necessary
to fulfill the obligations under this Agreement.
3. PAYMENT. Client will compensate Pursehouse three hundred fifty
thousand (350,000) shares of CYNET free trading stock.
4. NEW PROJECT APPROVAL. Client and Pursehouse recognize that the
services will include working on various projects for Client.
Pursehouse shall obtain the approval of Client prior to the
commencement of a new project.
5. TERM/TERMINATION. This Agreement shall be effective for a period
of six months, commencing May 22, 2001, and terminating November
22, 2001.
6. RELATIONSHIP OF PARTIES. It is understood by the parties that
Pursehouse is an independent contractor with respect to Client, and
not an employee of Client. Client will not provide fringe benefits,
including health insurance benefits, paid vacation, or any other
employee benefits, for the benefit of Pursehouse.
7. EMPLOYEES. Additional employees employed to maintain the
conditions of this contract shall be bound by the provisions of
this Agreement.
8. NOTICES. All notices required or permitted under this Agreement,
shall be in writing and shall be deemed delivered when delivered
in person or deposited in the United States mail, postage
prepaid, addressed as follows:
If for CYNET, Inc.:
Xxxxxxx X. Xxxxx, Xx.
CYNET, Inc.
00000 Xxxxx Xxxx, Xxxxx 000
Xxxxxxx, XX 00000
If for Xxxxxx Xxxxxxxxxx:
Xxxxxx Xxxxxxxxxx
0000 Xxxxxx Xxxxxx #000
Xxxxxxxxx, XX 00000
Such address may be changed from time to time by either party by
providing written notice to the other in the manner set forth above.
9. ENTIRE AGREEMENT. This Agreement contains the entire agreement
of the parties and there are no other promises or conditions in
any other agreement whether oral or written. This Agreement
supersedes any prior written or oral agreements between the
parties.
10. AMENDMENT. This Agreement may be modified or amended if the
amendment is made in writing and is signed by both parties.
11. SEVERABILITY. If any provision of this Agreement shall be held to be
invalid or unenforceable for any reason, the remaining provisions
shall continue to be valid and enforceable. If a court finds that
any provisions of this Agreement is invalid or enforceable, but that
by limiting such provisions it would become valid and enforceable,
then such provision shall be deemed to be written, construed and
enforced as so limited.
12. WAIVER OF CONTRACTUAL RIGHT. The failure of either party to enforce
any provision of this Agreement shall not be construed as a wavier
or limitation of that party's right to subsequently enforce and
compel strict compliance with ever provision of this Agreement.
13. APPLICABLE LAW. This Agreement shall be governed by the laws of
the State of California.
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PARTY RECEIVING SERVICES:
CYNET, INC.
By: /s/ XXXXXX X. XXXXX
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Printed Name: XXXXXX X. XXXXX
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Title: VICE PRESIDENT
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PARTY PROVIDING SERVICES:
XXXXXX XXXXXXXXXX
By: /s/ XXXXXX XXXXXXXXXX
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Printed Name: XXXXXX XXXXXXXXXX
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