iParty Corp. One-Year Part-Time Consulting Agreement with Joseph Vassalluzzo (June 2005)

Summary

iParty Corp. has engaged Joseph Vassalluzzo to provide part-time consulting services for one year starting June 8, 2005. 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 the company's headquarters or store sites in New England and Florida. For his services, Mr. Vassalluzzo will be paid up to $60,000, earned at a rate of $5,000 per month, with payment due by the end of the one-year term.

EX-10.3 4 a5113540ex103.txt EXHIBIT 10.3 Exhibit 10.3 iParty Corp. June 8, 2005 Written Summary of One-Year Part-time Consulting Arrangement with Joseph Vassalluzzo iParty Corp. shall engage Mr. Vassalluzzo to provide consulting services on a part-time basis over a one-year period beginning on June 8, 2005 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, 2005, 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, 2005, with such services to be earned at a rate of $5,000 per month.