iParty Corp. One-Year Part-Time Consulting Agreement with Joseph Vassalluzzo (2006)

Summary

iParty Corp. has renewed its agreement with Joseph Vassalluzzo to provide part-time consulting services for one year starting June 8, 2006. Mr. Vassalluzzo will advise senior management, especially the Chairman and CEO, on retail, operational, strategic, real estate, and store location matters. He may be required to visit company headquarters or store sites in New England and Florida. For his services, he will be paid up to $60,000 over the year, at a rate of $5,000 per month.

EX-10.2 3 a5166307ex102.txt EXHIBIT 10.2 Exhibit 10.2 iParty Corp. June 8, 2006 Written Summary of Renewed One-Year Part-time Consulting Arrangement with Mr. Vassalluzzo iParty Corp. shall renew its engagement of Joseph Vassalluzzo to provide consulting services on a part-time basis over a one-year period beginning on June 8, 2006 (the date of termination of the prior year's arrangement) to iParty's senior management, in particular iParty's Chairman and CEO, Sal Perisano, with respect to various retail, operational, strategic, real estate and store location issues, as may from time to time be necessary and appropriate. Such services shall on occasion require Mr. Vassalluzzo's presence at iParty's corporate headquarters in Dedham, Massachusetts and/or current or proposed store location sites, principally in New England and Florida. On or before the end of the one-year period commencing on June 8, 2006, iParty Corp. shall pay Mr. Vassalluzzo one or more payments not to exceed $60,000 cash for services rendered over the one-year period beginning on June 8, 2006, with such services to be earned at a rate of $5,000 per month.