Document:

EXHIBIT 10.6

June 13, 2001

 

Equinet Inc.

305 W. 50th. Street,
Suite 2-K

New York, NY 10017

ENGAGEMENT LETTER

 Dear Sir: 

Mr. Vincent Hickman, President of My
Personal Salon.com Inc. (the "Company" or "We") hereby
engages Equinet Inc., ("Equinet") to find a lender/funding for the
Company in the amount of at least $3,000,000 (the "Target Amount") on
or before June 6, 2002 under the following terms and conditions:

1)       Responsibilities
of Equinet.  We agree to engage Equinet to serve as the financial
advisor to Company with respect to the conception and implementation of the
proposed funding (the "Transaction"). Equinet shall provide the
Company with its advice, opinion and recommendations; however, the
implementation of such recommendations shall be at the sole and exclusive option
of the Company.

2)      
Responsibilities of Company.

  a)      
  Truthful Representations. We represent and warrant that all information
  (1) made available to Equinet and any prospective creditor and/or
  investor, or (2) contained in any materials prepared by the Company
  will, at all times during this engagement be true, accurate and complete in
  all material respects and will not contain any untrue statement of a material
  fact or omit to state therein any fact necessary to make the statements
  therein not misleading in light of the circumstances under which they are
  made.

  b)      
  Indemnification. If in connection with the Transaction, Equinet becomes
  involved, in any capacity, in any action or legal proceeding, due to the
  actions, information, position, assertions, and/or affirmations put forth by
  the Company or by Equinet at the direction of the Company, or in reliance upon
  material or information furnished by the Company, the Company agrees to
  indemnify and hold harmless Equinet for the reasonable legal fees of counsel,
  court costs and other expenses (including the costs of investigation and
  preparation) incurred.  The Company also agrees to hold harmless
  Equinet against any losses, claims, damages or liabilities, joint services or
  matters which are the subject of this Agreement; provided however that the
  Company shall not be liable in respect of any loss, claim damages or liability
  to the extent and only to the extent that such loss claim damage or liability
  resulted from the gross negligence or willful misconduct of Equinet.  The
  provisions of this paragraph shall survive the expiration of the period of
  this agreement including any extensions thereof set forth herein.

3)      Compensation.
Upon the successful completion of the Transaction, we will remit to Equinet, as
its success fee, a fee based on the value of the funding and/or investment
obtained, as follows:

  a)      Cash.
  The fee schedule shall be based on the gross consideration value of the
  Transaction, whether in cash or in kind payable immediately by wire transfer,
  and according to the instructions of Equinet, in the following amount:

   10% of the first million dollars plus

  7.5% of all funds obtained between $1 million and $2.5 million plus

  5% of all funds obtained between $2.5 million and $5 million

   

   

  b)      Warrants. 
  On success, we shall also receive warrants equal to 2.5% of the capital stock
  of the Company. In the event that a lender is introduced to the Company,
  Equinet shall receive warrants equal to 2.5% of the amount of stock that the
  loan amount could have purchased based on the bid price of the stock on the
  day that the loan is made. In addition, we shall be entitled to demand
  piggyback registration rights for the stock underlying the warrants we have
  obtained. The warrants will have a five-year life and will have a strike price
  equal to the prices paid by investors.

  c)      Bonus.
  On success, Equinet will also receive a financial advisory fee of $5,000.00 a
  month for 24 months.

4)      Termination.
We agree that either party may terminate this Agreement in writing with five (5)
days advance written notice. In the event that Equinet can demonstrate its
ability to successfully facilitate the closing of the Transaction, this
Engagement Letter may be terminated by Company only pursuant to Section 7.

5)      Non-Circumvention.We
irrevocably agree not to circumvent, avoid or bypass Equinet, either directly or
indirectly, in order to avoid payments of fees or payments, or otherwise
benefit, either financially or otherwise, from information supplied to the
Company by Equinet, or individuals and or business entities introduced to it by
Equinet with regards to the Transaction. We further agree, that in the event
that we secure funding on our own from any source introduced to us by Equinet
for a period of 36 months from the date of this Agreement, then such
loan/funding shall be deemed to have been procured by Equinet and Equinet shall
be entitled to a success fee as set forth in Paragraph 3(a) above.

6)      Confidentiality.
Except to the extent necessary to perform its obligations hereunder or to comply
with any applicable law, regulation or rule, neither Party shall disclose or
divulge to any third party other than the other Party's directors, officers,
auditor or legal counsel, either before or after the termination of this letter
agreement, any document or information exchanged between the parties during the
term of this Agreement without prior written consent of the other party, which
consent shall not unreasonably with held.

7)      Securities
Laws. The Parties to this agreement mutually agree to comply with any
and all applicable securities laws in their efforts to secure funds for the
Company.

8)      Default.In
the event of any default of any material obligation by or owed by a party
pursuant to this Agreement, then the other party may provide written notice of
such default and if such default is not cured within thirty (30) days of the
written notice, then the non-defaulting party may terminate this Agreement.

9)      Notice.
Any notice required by this Agreement or given in connection with it, shall be
in writing and shall be given to the appropriate party by personal delivery or
by certified mail, postage prepaid, or recognized overnight delivery services.

	If to
      Company   	 If to Equinet:
	My Personal Salon.com
      Inc.   	305 W. 50th.
      St.
	1407 Broadway, Suite
      1206   	Suite 2-K
	New York, NY
      10018   	New York, NY 10017

10)  Severability. In
case any one or more of the provisions contained in this agreement or any
application thereof shall be invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions contained
herein and any other applications thereof shall not in any way be affected or
impaired thereby.

 

 

11)  Final Agreement.
This Agreement terminates and supersedes all prior understandings or
agreements, whether written or oral on the subject matter hereof.  This
Agreement may be modified only by a further writing that is duly executed by
both parties.

12)  Construction.This
Agreement shall be governed by and construed in accordance with the internal
laws of the State of New York. In the event of any dispute arising under or
resulting from this Agreement, the parties hereby submit to the exclusive
jurisdiction of the courts of the State of New York sitting in the borough of
Manhattan, and the prevailing party in any such action shall be entitled to
recover the costs incurred in prosecuting or defending any such action
(including, without limitation, reasonable attorneys' fees and costs).

13)  Attorneys Fees and
Court Costs. Each party understands and agrees that if any legal action
is brought for the enforcement of this Agreement, or because of an alleged
dispute, breach, default, or misrepresentation in connection with any of the
provisions of this Agreement, the prevailing party shall be entitled to recover
its reasonable attorney's fees and other costs incurred in such arbitration
proceeding or other legal action, in addition to any other relief to which it is
entitled.

14)  Equitable Relief.It
is agreed that a violation of any of the provisions of this agreement will cause
irreparable harm and injury to the non-violating party and that party shall be
entitled, in addition to any other rights and remedies it may have at law or in
equity, to seek an injunction enjoining and restraining the violating party from
doing or continuing to do any such act and any other violations or threatened
violations of this Agreement. Absent a showing of willful violation of this
agreement, neither party shall be liable to the other, whether in contract or in
tort or otherwise, for special, indirect, incidental or consequential damages.

15)  Further Retention of
Equinet. In the event that we succeed in obtaining the Target Amount,
then Equinet shall be retained as the exclusive advisor to the Company for
period of two years from the date of the closing on the Target Amount of
funding/investment. Equinet shall then be entitled to compensation in accordance
with Paragraph 3(a) above for any funding/investment obtained during said
two-year period through the direct efforts of Equinet. In the event that
additional funding is received by a third party and obtained without the efforts
off Equinet, Equinet shall then be entitled to one third of the compensation
schedule set for in Paragraph 3(a) during said two year period.

We understand and agree to the terms
and conditions of this Engagement Letter as of the date first written above, and
agree to be bound accordingly. 

AGREED AND ACCEPTED BY: 

	MY PERSONAL
      SALON.COM INC.   	EQUINET INC. 
	Vince Hickman  
      	 Gregg Davis
	President   	PresidentEXHIBIT 10.7

CONSULTING
AGREEMENT 

THIS AGREEMENT made this 30th day of
July 2001, by and between My Personal Salon, Inc., (the "Company"), a
Delaware corporation, and Martin Bond, CPA, an accountant,
("Consultant"). 

1. DEFINITION.
ThatConsultant is a financial consultant which will provide the Company with
services in the areas of finance, (the "Services"). Consultant is not
now and will not be or become, under the terms of this Agreement, an employee,
in any form or sense of Company, but is intended to act and is only authorized
to act as a Consultant to provide such Services. The Consultant shall have the
sole discretion as to the form, manner and place in which said services shall be
rendered. The Consultant shall devote to the Company such time as is deemed
appropriate by Company and Consultant under the circumstances. 

2. RESPONSIBILITIES OF
CONSULTANT. 
Consultant understands and agrees that it shall be responsible for the
successful completion of the following tasks during the engagement period, and
that in the event said tasks are not completed to the mutual satisfaction of
both Company and Consultant, payment of all compensation under Section 3 herein
shall be suspended until said tasks are completed. 

           
a) Services. Financial matters, etc.

 3. COMPENSATION PROVIDED BY
COMPANY. For the services
to be rendered and performed by the Consultant during the Engagement Period, the
Company agrees to pay the Consultant as good, valuable and sufficient
consideration under this Consulting Agreement: 

           
a) Base Consulting Fee.  Consultant shall be entitled to receive a
base Consulting fee of $50.00 per hour, payable in the common stock of the
Company at fair market value per share. Fair market value shall be defined as:                          

  (i)                 
  if the Company's securities are publicly traded: the greater of the Company's
  Closing Bid price on the national exchange where it securities are listed for
  trading; or

  (ii)               
  if the Company's securities are privately held: the selling price of the
  Company's common stock in its last sale to an outside party.

Said fee shall be paid to Consultant in
full at the completion of this Agreement, unless Consultant's engagement is
terminated earlier pursuant to Section 9 of this Agreement, in which case
Consultant's accrued fees are due and payable upon termination. 

           
b) Incentive Compensation. If the parties determine certain projects
related to the Agreement warrant separate incentive-based compensation, then
such compensation shall be set forth in writing and executed by the Company's
President.

            
c) Special Projects. From time to time, if the Company's Board of
Directors determines that a special project exists which may require management
consulting services beyond the scope intended by this Agreement, the Company
agrees to allow Consultant the opportunity to provide such services for
additional compensation as determined between the parties. Any such arrangement
will be set forth in writing and executed by the Company's President.

 

4.  ENGAGEMENT PERIOD. 
That this Agreement shall commence on the date of its final execution and remain
ineffect, (unless earlier terminated under the provisions of this Agreement) on
an ongoing basis until revoked. 

5. INVENTIONS.
Consultant hereby agrees to transfer and assign to the Company, all right title
and interest in and to all inventions, ideas, disclosures, and improvements in
the areas of virtual business organizational management and delivery of
business services via the Internet, whether patented or unpatented, and any
copyrightable material made or conceived by Consultant, solely or jointly, or in
whole or in part, during the period of this agreement. 

Consultant will communicate promptly
and disclose to the Company, in such form as the Company requests, all
information, details and data pertaining to the aforementioned inventions,
ideas, disclosures and improvements; and, whether during the term hereof or
thereafter, Consultant shall execute and deliver to the Company such formal
transfers and assignments, and such other papers and documents as may be
required of Consultant to permit the Company or any persons or entity designated
by the Company to file and prosecute the patent applications, and, as to
copyrightable material to obtain the copyright thereon. 

Any invention by Consultant made within
one year of the termination of its engagement with the Company, shall be deemed
to fall within the provisions of this agreement unless Consultant shall prove
that said invention was first conceived and made following such termination. 

6. COMPETITION.
During the term hereof and for a period of one year thereafter, Consultant shall
not compete, directly or indirectly with the Company, or interfere with, disrupt
or attempt to disrupt, the relationship, contractual or otherwise, between the
Company and any customer, client, supplier, Consultant or employee of the
company including, without limitation, employing or being an investor
(representing more that a 5% equity interest) in, or officer, director, or
Consultant to any person or entity which employs any former key or technical
employee whose employment with the Company was terminated after the date which
is one year prior to the date of termination of the Consultant's engagement
therewith. Any activity competitive with an activity engaged in by the Company
shall mean performing services (whether as a Consultant, paid or unpaid,
employee, officer, director, partner or sole proprietor) for any person or
entity engaged in the business then engaged in by the Company. It is the desire
and intent of the parties that the provisions of this agreement shall be
enforced to the fullest extent permissible under the laws and public policies
applied in each jurisdiction in which enforcement is sought. Accordingly, if any
particular portion of this agreement shall be adjudicated to be invalid or
unenforceable, this agreement shall be deemed amended to delete therefrom the
portion thus adjudicated to be invalid or unenforceable, such deletion to apply
only with respect to the operation of this agreement in the particular
jurisdiction in which the adjudication is made. 

7. NONDISCLOSURE.
Consultant recognizes and acknowledges that the Company's trade secrets and
proprietary information and processes, as they may exist from time to time, are
valuable, special and unique assets of the Company's business, access to and
knowledge of which are essential to the performance of Agent's duties hereunder.
Consultant will not, during or after its term of engagement by the Company, in
whole or in part, disclose such secrets, information or processes to any person,
firm, corporation or association or other entity for any reason or purpose
whatsoever, nor shall the Consultant make use of any such property for his own
purposes or for the benefit of any person, firm, corporation or entity under any
circumstances during or after the term of his engagement. These restrictions
shall not apply to any such trade secrets, information, and/or processes that
are part of the public domain, provided that the Consultant was not the cause,
directly or indirectly, of them entering the public domain without the Company's
consent. Consultant agrees to hold as the Company's property, all memoranda,
books, papers, letters, formulas, data about the Company's clients and/or
customers, and all copies thereof and therefrom, in any way related to the
Company's business and affairs, whether made by him or otherwise coming into his
possession, and upon termination of his engagement with the Company, or on
demand made by the Company, at any time, to deliver and surrender all copies of
same to the Company.

 

8. NON-CIRCUMVENTION.
Consultant does hereby irrevocably agree not to circumvent, avoid or bypass,
directly or indirectly, in order to avoid payments of fees or payments, or
otherwise benefit, either financially or otherwise, from information supplied to
it or individuals and or business entities introduced to it by Company with
regards to the sale of its products and services to its Clients. 

9. TERMINATION. 
This Agreement may be terminated and ended, wholly or as to any primary area of
responsibility designated in this Agreement, and/or as to any products or
services specified in this Agreement, at any time, with or without cause, by
either partyhereto, by 30 day written notice given tothe other of them by mail
addressed to the last known address of the party to whom said notice is
directed. And upon any termination of this Agreement by either party, Company
and Consultant shall remain liable for all sums due the other under the terms
described in paragraph 4 hereof. This Agreement may be terminated and ended by
Company, at any time, by written notice given to the Consultant, in the event
that Company, in its sole discretion determines that Consultant has acted in a
manner injurious to the reputation and/or products and services of Company. 

10. MODIFICATION OF AGREEMENT.
This Agreement may be modified or extended for a like period, at any time in any
respect by the mutual consent of Company and Consultant. 

11. CONSTRUCTION.
This Agreement shall be construed and enforced in accordance with the laws of
the State of New York. 

12. NOTICES.
All notices, requests, demands and other communications required under this
Agreement, but exclusive of those required during the normal course of ongoing
business between the parties, shall be in writing and shall be deemed to have
been duly given when personally delivered or when mailed by United States
express, certified or registered mail, postage prepaid.

 

	
      FOR
      COMPANY:   
	
      FOR CONSULTANT:

	
      My Personal Salon,
      Inc.   
	
      Martin Bond, CPA

	
      1407 Broadway, Suite
      1206   
	
      209 Windwatch Drive

	
      New York, NY
      10018   
	
      Hauppauge, NY 11788

 13.
ASSIGNMENT. This
Agreement shall not be assignable by any party without the prior written consent
of the other parties.  Nothing contained in this Agreement, express or
implied, in intended to confer upon any person or entity other than the parties
to this Agreement and their successors and assigns, any rights or remedies under
this Agreement unless expressly so stated to the contrary. 

14. REMEDIES.
Except as otherwise expressly provided herein, none of the remedies set forth in
this Agreement is intended to be exclusive, and each party shall have all other
remedies now or hereafter existing at law, in equity, by statute or otherwise. 
The election of any one or more remedies shall not constitute a waiver of the
right to pursue other available remedies. 

15. ARBITRATION.
Any controversy or claim relating to this Agreement (other than a request for
injunctive relief), including any controversy or claim and any claim for
rescission, shall be settled by arbitration in accordance with the then rules of
the American Arbitration Association, and judgment upon any reward rendered in
such arbitration may be entered in any court having jurisdiction of the matter.

 

16. ATTORNEY'S FEES AND
LITIGATION COSTS. If any
arbitration proceeding or other legal action is brought for the enforcement of
this Agreement, or because of an alleged dispute, breach, default, or
misrepresentation in connection with any of the provisions of this Agreement,
the prevailing party shall be entitled to recover its reasonable attorney's fees
and other costs incurred in such arbitration proceeding or other legal action,
in addition to any other relief to which it is entitled. 

17. ENTIRE AGREEMENT.
This Agreement and the exhibits and other documents specifically referred to
herein or required to be delivered to pursuant to the terms of this Agreement
represent the entire agreement of the parties hereto with respect to the subject
matter hereof, and supersede all prior agreements, understandings, discussions,
negotiations and commitments of any kind.  This Agreement may not be
amended or supplemented, nor may any rights hereunder be waived, except in a
writing signed by each of the parties affected thereby. 

18. SECTION HEADINGS.
The section headings in this Agreement are included for convenience only, are
not a part of this Agreement and shall not be used in construing it. 

19. SEVERABILITY.
In the event that any provision or any part of this Agreement is held to be
illegal, invalid or unenforceable, such illegality, invalidity or
unenforceablility shall not affect the validity or enforceability of any other
provision or part of this Agreement. 

IN WITNESS WHEREOF, the undersigned has
caused this Independent Consultant Agreement to be extended by its duly
authorized officers as of the day and year first above written.

 

 

	
      CONSULTANT  
      
	
      COMPANY

	   	MY PERSONAL SALON, INC.
	
      Martin
      Bond   
	
      Stephen Davis

	
      CPA   
	
      CEO

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