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Non-Tech : LACI: Latin American Casinos
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From: rjm28/24/2001 5:08:05 AM
   of 27
 
In August 2001 the company entered into an eighteen month consulting
arrangement for financial advisory services and the introductions of
investors and investment banking firms to the company. In consideration
for these services the company is obligated to issue 50,000 shares of
restricted common stock, to be issued pro-rata over the terms of the
contract, 150,000 warrants to be issued pro-rata over the term of the
contract and $60,000 per month for the duration of the contract. The
warrants will be valued at an exercise price of 110% of the closing
sales price of the company's common stock during the five consecutive
trading days immediately preceding the date of the agreement and will
provide for equal monthly vesting over the duration of the contract.
The agreement may be terminated by either party for "just cause" or by
thirty day written notice.
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