Dear Mr. Vasos-Peter John Panagiotopoulos II: This letter agreement will serve to confirm the terms upon which you ("Consultant") are to be retained and compensated by ("Client"), in connection with your efforts to procure strategic alliances for Client or any of its subsidiaries or affiliates (Client and each such subsidiary and affiliate are herein individually called a "Company"). This letter agreement is limited to the following transactions (each, a "Transaction") (i) alliances with <...> clients of and procured by <...>, (ii) venture capital investments by subsidiaries of <...>, (iii) alliances with firms affiliated with or clients of <...>, (iv) alliances with <...> or affiliates thereof, (v) research technology transfer intellectual property, licences and alliances procured via <...> and (vi) alliances with or purchase of <...> clients of and procured by <...>. It is hereby understood and agreed that, as a non-negotiating finder, Consultant is not creating any act of agency or any fiduciary relationship whatsoever, and Consultant is neither involved in fixing the price nor the terms of the sale. (However, where applicable, Consultant shall qualify for a finder's fee as provided for in New York State General Obligations Law 5.701.10 where the definition of "negotiating" includes procuring an introduction to a party in the transaction.) Moreover, Consultant shall have no authority to enter into any commitments on Client's behalf, or to negotiate the terms of Transaction, or to hold any funds or securities in connection with Transaction or to perform any act which would require Consultant to become a registered securities, real estate or business broker or dealer. It is also clearly understood that Consultant is not a registered securities, real estate or business broker or dealer. If a Transaction is consummated (whether such Transaction shall be in the form of an exchange or purchase of assets, intellectual property, licenses, an exchange or purchase of stock, a merger, a partnership, a joint venture or otherwise), Client shall pay Consultant (as Consultant is the finder and originator who discloses to Client the opportunity to engage in each Transaction) a commission (the "Fee") equal to the sum of: (a) an amount equal to one and one half percent of the aggregate consideration or investment received by the applicable Company (the "Consideration"); plus (b) an amount equal to one percent of the portion of the actual Cash Flow (as hereinafter defined) of the applicable Company resultant from and attributable to each Transaction, for the first five years after consummation of the Transaction. Aggregate Consideration due to seed venture capital may include equity interests sold to investors as well as issuable to investors upon conversion of convertible securities sold or issued to investors or exercise of Founder Stock Warrants issued to investors. Up to half of the portion of the Fee due to seed venture capital may be paid to Consultant in the form of Founder Stock Warrants, said warrants being valued (for the purposes of this calculation ONLY) at the par value of the corresponding equity investments; as well as participating preferred Founder Stock, the proportion approximating five Founder Stock Warrants for every ten shares of Founder Stock. Founder Stock Warrants shall be five-year warrants to purchase participating prefereed equity interests in Client's resulting seed venture. The exercise price of such Founder Stock Warrants shall be the same as the par value of preferred stock sold to seed venture investors in the Transaction. The Founder Stock Warrants shall be issued to Consultant for the total cash consideration of one dollar paid by Consultant. Aggregate Consideration due to research technology transfer intellectual property, licenses and alliances may include revenues generated when any licensed article is sold by any individual, firm, or organisation holding any direct, indirect, equity-warrant, preferred-customer-alliance, associational or other common interest with Client. Alternative to the calculation set forth above, any Fee resulting from research technology transfer intellectual property, licenses and alliances may be calculated as the greater of one tenth of any resultant Licensed Net Receipts or one twentieth of any resultant Cash Flow derived from manufacture and sale of the licensed articles - payable during each year for the full term of the technology transfer portion of the Transaction introduced by Consultant. For royalty purposes hereunder, licensed articles shall be considered sold when billed out, or, if not billed out, when delivered, shipped or mailed. However, royalties paid on articles that are not accepted by customers may be credited against subsequent royalty payments due hereunder. "Licensed Net Receipts" shall mean the licensee's gross sales revenue less Cost of Goods Sold. ("Cash Flow" shall mean Sales Revenues, less Cost of Goods Sold, less Operating Expences, less Increases to Working Capital, less Capital Expenditures, less Income Tax Provision, summed with Depreciation Expence, summed with Increase in Deferred Taxes, and summed with Amortization of Goodwill. "Cost of Goods Sold" shall mean the usual discounts and allowances to customers; refunds for returned goods; excise, value-added and sales taxes; and the cost of transportation. Should any year's Cash Flow be less than zero, it shall, for the purposes of the Fee calculation, be assumed to be equal to zero. A "Lehman Fee" is defined as a fee not greater than one twentieth of the Consideration, decreasing by one hundredth of each incremental million dollars of Consideration, so that all subsequent incremental million dollars of Consideration which bring the Consideration over four million dollars will result in a one hundredth fee for the excess over four million dollars. The total Lehman Fee will therefore be some amount in excess of one hundredth of the total resultant Consideration. The "Lehman Fee" is calulated in U.S.A. dollars.) Client shall have the right to terminate this Agreement at any time by written notice to Consultant. Notwithstanding any such termination, if a Transaction shall occur within twelve months from the date of termination, Consultant shall be entitled to the compensation set forth herein. The Consideration paid to the applicable Company shall be deemed to include both cash and any securities or other property received by the Company in the Transaction in question. Consideration shall not be deemed to include remuneration paid to shareholders or others in connection with consulting or employment contracts or arrangements. Debts assumed in a Transaction shall not be deemed Consideration. In the event that any Consideration shall be payable in securities: debt securities shall be valued at the lesser of their outstanding principal and their market value on the day of delivery; preferred stock shall be valued at the lesser of liquidation preference and market value on the day of delivery; and common stock shall be valued at the average of the mean between the high and low quotations therefor on any organized securities market for a period of thirty trading days immediately preceding the day of delivery. If it is not possible to value any such securities in accordance with the foregoing procedures, then their value shall be the value reasonably ascribed thereto by the Company's Board of Directors, whose determination shall be made in good faith and shall be subject to the reasonable approval of Consultant. Client shall pay the Fee to Consultant in immediately available funds at the time of the consummation of the Transaction. The portion of Fee due to Cash Flow shall, however, be paid as each Cash Flow is generated. Client shall furnish Consultant with copy of Transaction Agreement at or prior to closing and shall inform Consultant of time of closing and afford Consultant the right to attend closing. No commission shall be payable if a Transaction outlined above is not consummated, regardless of whether or not the failure to consummate such Transaction is due to any action on the Company's part or on the part of any other person. Consultant may engage the services of other consultants in connection with performance of Consultant's services hereunder, provided their remuneration for such services is derived solely from portions of Fee. Should Client require the use of other consultants in ways that other consultants require their portion of Fee before payment of said Fee to Consultant, Client will pay that portion of Fee and deduct the amount paid to these other consultants from amount paid to Consultant. Neither Consultant, nor anyone on Consultant's behalf, is authorized in any way to commit the Client to any expense or agreement of any amount or kind. Moreover, since Consultant is, as aforementioned, non-negotiating, Consultant shall never be held accountable to any fraudulent conveyance claims; therefore, due dilligence shall be solely the responsibility of Client and nowise of Consultant. Any out-of pocket expenses which Consultant may incur in connection with Consultant's efforts as finder shall be borne solely by Consultant. Client agrees to provide complete, customary and appropriate anonymous non-confidential financial, market and technology disclosure Profile, within customary bounds, to be shown potential parties to a Transaction. Client hereby represents and warrants that all information provided to Consultant and parties to Transaction pertaining to Client shall be true and correct; and that Client shall hold Consultant harmless from any liability, expenses or claims arising from the direct or indirect disclosure of Profile. Moreover, Client is fully and solely responsible for assuring that information in this Profile does not endanger the novelty of any intellectual property of Client. Other than via Profile, Consultant shall not disclose identity of Client nor any proprietary and confidential business, strategic or technological information belonging to Client without Client's implied or expressed consent and under the threat only of non-punitive but remedial recourse by Client against Consultant. Should Client be unable, slothful, misleading or unwilling to provide such information, however, Consultant shall be doubly remunerated for any such necessary efforts, and should funds be unavailable for such remedial remuneration, remuneration shall be in the form of actual or contractually promised participating preferred equity in the relevant Client firm; moreover remedial, proportionate, para delictis forfeiture to Consultant of control of venture should take place, especially, but not only, to replace such officers who deliberately provided misleading information. Confidential information shall include but not be limited to secret and proprietary inventions, machines, strategies, devices, processes, software, systems, creations, business procedures, techniques, machines, notebooks, drawings, photographs, accounts, analysis, improvements, and ideas, which may not be divulged to third parties except as necessary for the completion of assigned tasks and upon completion and abiding of similar confidentialiy agreement by such third parties, except where such information is in public domain through no fault or purpose of parties confided in. This letter agreement will also serve to confirm the terms upon which Consultant is to be retained and compensated by Client in connection with Consultant's efforts, as the need arises, and in ways and matters that do not endanger or hinder Consultant's role as finder to consult with the officers and employees of Client concerning matters relating to the management and organization of Client; their strategic, financial, technical and marketing policies; the terms and conditions of employment, and generally any matter arising out of the business affairs of Client. The consultation shall include advice regarding employment, control, supervision, compensation, hiring and discharge of employees and independent contractors hired by the Client. The Consultant will also provide advice with respect to the purchase and/or lease of equipment and supplies relating to the Client's various businesses. Said consultation may occur at any unspecified location, by telephone, or by electronic transmission. For such consultations, Consultant shall be paid one hundred and seventy dollars per hour. Consultations shall occur with Consultant in the role of independent contractor. Consultant shall be responsible for payment of all taxes including Federal, State, Social Security, Unemployment Insurance, local and other taxes or business license fees required. All costs to Consultant for products services of others will be paid by the Client, provided Consultant has obtained prior authorization of the Client, and these costs are incurred in execution of consultation obligations. Such costs may include data services, stationery, specialised business services, transportation, duplication, communication, lodging and meals. Client and Consultant shall both not be liable for any accidental damages in each other's physical properties. Any use of Consultant's report other than for internal use of Client as provided in this Agreement is prohibited. Resale or other commercial use of this report is also prohibited. Any violation of this condition may be result in intellectual property infringement action against Client. Although information therein obtained from sources believed reliable, accuracy, absolute correctness or sufficiency is not guaranteed and information may be incomplete or condensed. All opinions and estimates therein shall constitute current judgement subject to change without notice. Not responsible for errors, omissions, or misinterpretations therein nor in any way liable for any resultant consequential, incidental, special, indirect or other damages; no warranty (of merchantibility, of fitness for a particular use, or of any implied or expressed kind) exists. It must not be assumed that all necessary safety measures are included; additional measures or considerations may be required under particular circumstances. In cases where report shall include research, any fairly duplicated work of others shall become the property and responsibility of Client, and Client shall permanently, beyond the limits of this agreement, indemnify Consultant against any claim for damages or loss (including any and all legal costs) resulting from Client's misuse of this information, including intellectual property rights. At the same time, Consultant is in now way responsible for any errors or ommissions in the underlying documents compiled. Client shall in no way directly or indirectly use work of Consultant undertake business or commercial activities in direct or indirect competition with the regular business engaged in by Consultant, and accepts that Consultant shall be entitled to and may seek full equitable and injunctive relief against such activities without need to post bond or surety, which rights shall be cumulative with and not necessarily successive or exclusive of any other legal rights to monetrary damages that the Consultant may have. Consultant shall begin such work upon receipt of three thousand dollars for each month retained; this Minimum Amount shall be paid to Consultant regardless of the amount of time actually spent by Consultant, but shall also be considered remuneration for first ten hours Consultant devotes to Client during that month. Moreover, Client is thusly assured that Consultant will be available for ten hours each month. The remaining one third of this Minimum Amount (that not including the ten hours) shall be used by Consultant for overhead costs. Consultant shall not be prevented from other employment by reasons set forth herein provided no conflict of interest is generated and Consultant is able to devote necessary time to fulfill obligations set forth herein. Some unit of Citibank NA of New York shall be appointed Escrow Agent, whereupon Escrow Agent shall receive advance remuneration for Consultant from Client, including expenses. Escrow Agent shall disburse amounts of Client in the amount of the statements submitted as required (but in amounts not less than three thousand dollars) from the Escrow Funds in monthly disbursements upon receipt of of adequate expense records and billing statements from Consultant. In no event shall Client be entitled to any disbursement from the Escrow Funds so long as there shall exist any event or condition which, with notice, lapse of time or otherwise, would constitute an Event of Default. Upon the full completion of Consultation as set forth herein, Escrow Agent shall disburse all remaining Escrow Funds to Client and this Agreement shall terminate and no party shall have any further rights, duties or obligations. Both Consultant and Client agree to hold Escrow Agent harmless from and against any and all claims, actions, causes of action, judgements, damage, injury, loss, liability, costs and expenses, including but not limited to attorney's fees and expenses and court costs arising out of or in any way resulting from the Consultation. Escrow Agent assumes no liability except for gross negligence or willful misconduct and shall not be responsible for validity, correctness or genuineness of any document or notice referred hereunder. Escrow Agent shall be protected in any action taken in good faith in accordance with opinion of Escrow Agent's counsel. Notices shall be in writing and shall be effective when delivered by hand; the day after sent prepaid domestically by telegram or overnight courier; or three days after sent prepaid internationally by telegram or overnight courier; to the parties at their respective addresses set forth hereunder. Amounts shall be paid in United States dollars in amounts based on the rate of exchange in New York City, State of New York, as of the close of the last business day of each quarter. If conditions or laws of any foreign country prevent the transmission to the United States of any requisite Fees in United States dollars in whole or in part, Consultant shall have the right and option with respect to Fees as cannot be so transmitted, to accept the same deposited in Consultant's account in each such country and Consultant shall agree to accept in such currencies such portion of the Fees as cannot be transmitted to the United States in United States dollars. This Agreement contains the sole and entire agreement and understanding between Consultant and Client. Any amendment, modification or other change must be in writing and signed by both parties to be enforceable. A purchase order, confirmation or other similar response from Client which contains any additional, different or inconsistent terms shall be considered only as an acceptance of the terms set forth herein; and such additional, different or inconsistent terms shall not be binding on Consultant without Consultant's express written consent. If resultant activity takes place in the United States of America, this Agreement shall be governed by and construed in accordance with the laws of the United States of America, and the State where resultant activity takes place and is recorded. If resultant activity takes place within the Eurpean Union, this Agreement shall be governed by and construed in accordance with the laws of Greece (Hellenic Republic, Province of Attiki) and the European Union Professional Code of Ethics for Business Consultants DG XXIII B2. If resultant activity takes place outside the United States or European Union, this Agreement shall be governed by and construed in accordance with the laws of the United States, and State of New York, although arbitration may be arranged through the World Bank's ICSID. If any provision of this Agreement is held invalid, the remainder of this Agreement shall continue in full force and effect. Termination of this Agreement shall not prejudice any rights of either party which may have arisen on or before the date of termination. Kindly confirm the foregoing understanding by signing the enclosed counterpart of this letter agreement and returning it to Client. Very truly yours, Date Dr. <...>, President Accepted and Agreed to as of the date first above written: Vasos-Peter John Panagiotopoulos II dba Samani International Enterprises (IRS#11-2483373 NYSBCQ214562) 20-28 Parsons Blvd, Whitestone, Long Island, NY 11357-3436-287, USA 1 Papaspyrou St, Freedom Sq, New Psykhikon, Athens, Attiki GR15451, GREECE, EU