EXHIBIT 10.11
ENGAGEMENT AGREMEMENT BETWEEN
BIOQUEST INTERNATIONAL, INC.
AND
RAYMOND J. STEWART, ESQ.
<PAGE>
Law Offices of
Raymond J. Stewart
1350 Eye Street, N.W
Suite 200
Washington, DC 20005
Telephone: 202.312.8469
301.654.4195 Fax: 301.654.4195
email: [email protected]
June 6, 2000
Mr. Peter J. Ewens
Chief Executive Officer
BioQuest International, Inc.
11217 Silverleaf Drive
Fairfax Station, VA 22039
Re: Legal Services
Dear Mr. Ewens:
This will confirm that you wish to engage my law firm to represent
BioQuest International, Inc. ("BioQuest") in connection with advice regarding
its development and execution of a business form and strategy.
We bill on a monthly basis, detailing costs advanced and legal
services rendered. Payment is due within thirty (30) days. Our bills will be for
the reasonable value of the legal services rendered, based on the factors set
forth in the relevant Code of Professional Responsibility governing lawyers.
These factors include the time and labor expended, the novelty and difficulty of
the questions involved, the skill required to perform these services, the nature
of the matter involved, the results obtained, the time limitations imposed, and
our customary hourly billing rates. For your information, my current hourly rate
is $250.00. We bill disbursements at the law firm's cost.
My law firm's policy requires that a new client provide us with a
retainer/advance amount before we take on representation. In your case, we
request that you provide us with a $7,500.00 retainer that will be applied to
the attorneys' fees and disbursements incurred as we proceed.
Unless you require some different procedure, we will send you an
itemized invoice indicating the full description of our services. In the event
that reimbursement for costs advanced or services rendered is delinquent, we
reserve the right to withdraw our representation.
<PAGE>
If you approve, please sign this letter in the space indicated below
and return the original to me, along with your check in the amount of $7,500.00.
In closing, I look forward to working with you and BioQuest and appreciate the
opportunity to be of service.
Very truly yours,
/s/ Raymond J. Stewart
----------------------
Raymond J. Stewart
Accepted:
BioQuest International, Inc.
By: /s/ Peter J. Ewens
----------------------
Peter J. Ewens
