Letter Agreement for Deferral of Fees between Ocean Cross Business Solutions Group LLC and Compliance & Risk Management Solutions Inc.
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Summary
Ocean Cross Business Solutions Group LLC and Compliance & Risk Management Solutions Inc. have agreed that, upon the client's request, the consultant will defer payment of any fees owed under their existing consulting agreement. These deferred fees will be recorded as a liability on the client's balance sheet and will become payable after the client completes a capital raise, provided that legal counsel has been paid first. This agreement ensures flexibility in payment timing for the client while maintaining the consultant's right to eventual compensation.
EX-10.3 3 crm_ex103.htm LETTER AGREEMENT FOR DEFERRAL OF FEES WITH OCEAN CROSS BUSINESS SOLUTIONS GROUP crm_ex103.htm
Exhibit 10.3
Ocean Cross Business Solutions Group LLC
January 1, 2014
Compliance & Risk Management Solutions Inc.
49 Main Street
New Egypt, NJ 06880
Attn: Chris Neuert, CEO
This letter is incorporated by reference to the consulting agreement (the “Agreement”), made effective August 1, 2013, by and between Ocean Cross Business Solutions Group LLC (the “Consultant”) and Compliance & Risk Management Solutions Inc. (the “Client”).
The Consultant to the above said Agreement, agrees to the following:
At anytime that the Agreement is in place between the Consultant and the Client, at the Client’s request, the Consultant agrees to defer any compensation due (“Deferred Fees”). Such Deferred Fees will continue to accrue on the Client’s balance sheet, and, unless otherwise paid at the sole discretion of the Client, will be due and payable upon the Client completing a capital raise which exceeds any payments then due to legal counsel of the Client.
As Agreed and Accepted the date first written above.
| Ocean Cross Business Solutions Group LLC | Compliance & Risk Management Solutions Inc | |||
| /s/ William E. Schloth | /s/ Christopher Neuert | |||
| By: William E. Schloth | By: Christopher Neuert | |||
| Title: CEO | Title: Chief Executive Officer |
One Gorham Island, Suite 303, Westport CT 06880
Phone: 203 ###-###-####
Email: ***@***
