Exhibit 4.1
Law Offices
of
MICHAEL L. CORRIGAN
7770 Regents Rd. Suite 113-401
San Diego, CA 92122-1967
TELEPHONE (858) 531-5984
FACSIMILE (858) 824-0452
March 29, 2004
World Golf League, Inc.
Michael S. Pagnano
258 E. Altamonte Dr., Suite 2001
Altamonte Springs, FL 32701
Engagement Agreement
Dear Mr. Pagnano:
The purpose of this letter is to confirm our association as special and
limited counsel for World Golf League, Inc., a Delaware corporation (the
"Client") in connection with the securities and other legal work to be performed
by Michael L. Corrigan (the "Attorney") on an ongoing basis for a period of one
year as requested by you. Please pardon the formality of this letter but it is
intended to set out the details of our relationship as required by the
California Business and Professions Code section 6148 and is intended to fulfill
the requirements of that section. The Attorney's services will not include,
among other areas of law, (i) litigation of any kind, whether in court, in
administrative hearings or before government agencies or arbitration tribunals,
(ii) any legal services relating to the raising of capital, including the
preparation of securities registration statements, other securities offering
documents or documents relating to stock promotions. I will assist in locating
appropriate legal counsel and coordinate any litigation or capital raising
matters, at your request. This letter agreement (the "Agreement") will set forth
in writing, signed by the Attorney and the Client, my understanding and
agreement regarding the scope of my representation. All agreements relating to
fees and responsibilities are contained within the provisions of this Agreement.
This Agreement will not take affect, and I will have no obligation to
provide legal services, until you return a signed copy of this Agreement and pay
the retainer, if any, called for in Paragraph 3 of this Agreement.
1. Scope and Duties of the Attorney and the Client.
You have requested, and I have agreed, subject to the terms of this
Agreement, to provide legal services in connection with such matters as you
shall from time to time specifically refer to me for legal representation. I
shall provide those legal services reasonably required to represent the Client,
and shall take reasonable steps to keep the Client informed of the progress and
to respond to the inquiries of the Client. The Client agrees to be truthful with
me, cooperate with me, keep me informed of developments, abide by this
Agreement, pay the bills on time, and keep me advised of its address and
telephone number. My engagement will be strictly limited to those matters for
which I am specifically asked to render services, and I do not undertake to, and
shall have no responsibility for, advice with respect to matters I am not
specifically asked to address. Nothing in this Agreement and nothing in the
Attorney's statements to Client will be construed as a promise or guarantee
about the outcome of Client's matter, including registration of the securities.
The Attorney makes no such promises or guarantees. The Attorney's comments about
the outcome of Client's matter are expressions of opinion(s) only.
2. Fees and Costs.
(a) As compensation for the services to be performed by the Attorney
pursuant to this Agreement, the Client agrees to pay fees to the Attorney as
provided in Exhibit A to this Agreement. The Client and the Attorney will agree
on the scope and cost of the services as they are requested.
(b) The Client agrees to pay the Attorney, in accordance with this
subparagraph 2(b) and in addition to the fees designated in subparagraph 2(a)
herein, all costs and expenses incurred in performing legal services in
connection with the representation described in this Agreement. Such costs and
expenses may include, without limitation, long distance telephone calls,
messenger and other deliveries, postage, charges for computer research and
outside assisted legal research, expenses such as parking, airfare, meals and
hotel accommodations which shall be in addition to the hourly rates for
photocopying and other reproduction charges, clerical staff overtime, word
processing charges, charges for computer time, and other similar items. Except
as may be listed on Exhibit A, all such items will be charged to the Client at
the Attorney's cost. The charges for any items listed on the attached Exhibit A
are subject to periodic change upon reasonable notice by the Attorney to the
Client. The Client agrees to pay in advance all costs incurred in connection
with the representation described herein, however, as a courtesy, the Attorney
from time to time will advance some of these minor costs and the Client will be
billed for such advances. The Attorney will attempt to obtain an estimate for
any major expenses prior to incurring such an expense so that the Attorney may
clear such major expense with the Client.
3. Retainer.
The Client hereby agrees to deliver, upon execution of this Agreement, a
retainer in the amount provided in Exhibit A to this Agreement. The shares of
common stock delivered as retainer shall be deposited in the Attorney's account
and shall remain in the account for so long as this Agreement shall remain in
effect. Upon termination of this Agreement, as set forth below, the shares
representing the retainer shall be returned to Client or, if mutually agreed,
applied against any outstanding fees, costs or expenses. This Agreement shall
not become effective until the Attorney has received such retainer.
4. Billings.
The Attorney will send the Client an invoice for fees and costs incurred on
a quarterly basis. Invoices shall be payable upon receipt. The Attorney's
invoice shall clearly state the basis for a charge, including the amount, rate
and basis for calculation (or other method of determination) of the Attorney's
costs and expenses. The Attorney's invoices shall clearly show the application
of any retainer amounts to the payment for the fees and costs incurred, as Ill
as the remaining amount of any retainer deposited with the Attorney.
5. Termination of Services.
The Client shall have the right at any time to terminate the Attorney's service
upon written notice to the Attorney, and the Attorney shall immediately after
receiving such notice cease to render additional services. Such determination
shall not, however, relieve Client of the obligation to pay the fees due for
services rendered and costs incurred prior to such termination subject to
Exhibit A hereto. If the Client fails to meet any of its obligations under this
Agreement, the Attorney shall have the right to terminate this Agreement, and
the Client shall take all steps necessary to free the Attorney of any obligation
to perform further, including, without limitation, the execution of any
documents necessary to complete the Attorney's discharge or withdrawal. The
right of the Attorney hereunder is in addition to those created by statute or
recognized by Rules of Professional Conduct.
In the event it becomes necessary for the Attorney to institute legal
action to recover any amount due pursuant to the terms of this Agreement, the
prevailing party in such action will be entitled to reasonable attorney fees and
costs incurred in such action and enforcement of any judgment.
6. Conflicts of Interest.
The parties to this letter agreement acknowledge that there may be
conflicts of interest in having the Attorney represent any members of the
Client. To the extent that certain agreements and arrangements may be made among
various members of the Client, the Attorney may have conflicts of interest if it
represented any such members. Therefore, the parties hereby acknowledge and
agree that the Attorney represents only World Golf League, Inc. and does not
represent any other party, person or entity. Furthermore, the Client hereby
acknowledges that in connection with this engagement agreement, the Client is
represented by independent legal counsel and that the Company has had the
benefit of independent legal advice.
7. Miscellaneous.
Please be advised that the Attorney does not maintain Errors and Omissions
insurance or any other professional liability insurance.
If you have any questions with regard to any matter set forth in this
Agreement, or if you have some different understanding of any portion of this
Agreement, please contact the undersigned immediately so that I can discuss
those items and determine if I will be able to reach an agreement by which I
will represent you.
If the foregoing correctly sets forth understanding and agreement, please
date, sign and return this Agreement in the return envelope, indicating that it
meets with your approval. A copy of this Agreement is enclosed for your file. I
appreciate the confidence you have expressed by asking me to represent you.
Sincerely,
MICHAEL L. CORRIGAN
/S/ Michael L. Corrigan
- -----------------------------
Michael L. Corrigan
Attorney at Law
THE UNDERSIGNED HAS READ THE FOREGOING LETTER, APPROVED IT, AND AGREES WITH ALL
OF ITS TERMS AND CONDITIONS.
Dated: March 29, 2004
CLIENT
World Golf League, Inc.
/S/ Michael S. Pagnano
-------------------------------------
Michael S. Pagnano, CEO
EXHIBIT A
1. Retainer: None.
2. Fees: In consideration of the Attorney providing the Client with
professional services subsequent to the execution of this
Agreement, within 5 days following the execution of this
Agreement, Client agrees to register, via a Securities Act
of 1933 S-8 Registration Statement ("S-8"), ten million
(10,000,000) shares of the Client's common stock.
Grant to the Attorney an option to purchase up to ten
million (10,000,000) shares of non-restricted freely
tradable shares of the clients common stock at an option
strike price of $0.02 per share.
3. Costs and Expenses Charged to Client above the Attorney's Cost:
Photocopying $0.20 per copy
Facsimile (Outgoing) $0.55 per page
Other at Attorney's Cost