Extension and Amendment to Financial Consulting Agreement between NeoStem, Inc. and Duncan Capital Group LLC
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Summary
NeoStem, Inc. and Duncan Capital Group LLC have agreed to extend their existing financial consulting agreement through December 31, 2007. For the extended period, Duncan Capital Group will receive a monthly retainer of $7,500, paid in NeoStem common stock, with shares vesting monthly and included in the company's next SEC registration statement. All other terms of the original agreement remain unchanged.
EX-10.2 3 a5366043ex102.txt EXHIBIT 10.2 Exhibit 10.2 February 1, 2007 Duncan Capital Group LLC 420 Lexington Avenue Suite 450 New York, NY 10170 Dear Michael: As you know, pursuant to that certain letter agreement dated as of May 2006 (the "Agreement"), Duncan Capital Group LLC ("Duncan") agreed to act as a financial consultant to NeoStem, Inc. (the "Company") on the terms set forth therein. The Agreement is for an initial term of twelve months and is scheduled to expire in May 2007. This letter agreement is being provided to extend the term of the Agreement through December 31, 2007. The parties further acknowledge that the monthly retainer fee of $7,500 for February 2007 through December 31, 2007 shall be paid in shares of the Company's Common Stock based upon the closing price of the Common Stock as of the date of this letter. The shares of Common Stock shall vest on a monthly basis through December 31, 2007 and shall be included on the next registration statement filed by the Company with the Securities and Exchange Commission. Except as set forth herein, the terms of the Agreement will remain unchanged. Please execute below to acknowledge your agreement with the foregoing. Sincerely, NeoStem, Inc. By:/s/ Robin Smith --------------- Robin Smith, Chairman and CEO Agreed and accepted: Duncan Capital Group LLC By:/s/ Michael Crow ---------------- Michael Crow, President