EXHIBIT 10.1
Published on January 12, 2007
Exhibit 10.1
Summary of Engagement Arrangement with Charles Dargan
On
January 8, 2007 the Company engaged Charles K. Dargan, II to serve as its Chief Financial
Officer for a term of one year, subject to earlier termination on 30 days notice
after the first
three months. During the term, Mr. Dargan will receive a fee of $4,000 per month,
which
amount will be increased to $8,000 or more in months during which the Company files its periodic
reports with the Securities and Exchange Commission. Mr. Dargan will be eligible to receive
grants
of stock options under the Companys Stock Option Plan on terms and conditions to be agreed
upon
between the Company and Mr. Dargan. Mr. Dargan will be reimbursed for business expenses
he incurs
in connection with the performance of his services as the
Companys Chief Financial Officer.