Exhibit 10.3
(ECAP LOGO)
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ECAP, LLC
SERVICE AGREEMENT WITH CONVERTED ORGANICS INC.
SUMMARY OF TERMS
PARTIES: ECAP, LLC ("ECAP") AND Converted Organics Inc. ("COI")
SCOPE: ECAP is providing office space and support services to COI. ECAP
will be compensated for its services as described below.
SERVICES: ECAP will:
1. Provide office space and associated costs as well as:
a. Access to the conference room
b. Telephones and associated charges
c. Access to the copier, printer and other common
office equipment
d. Office supplies (i.e., paper, pens, etc.)
e. Access to the Internet, file server and Lotus Notes
2. Provide administrative support services, including the
following:
a. Accounting
b. Banking
c. Scheduling
d. Lotus Notes
e. Travel arrangements
f. Document control
g. Business material production
COMPENSATION: As compensation for the above services, COI agrees to pay ECAP a
total of $5,500.00 on a monthly basis beginning March 1, 2006 as
follows:
1. $3,500.00 for Rent and associated costs
2. $2,000.00 for Support Services
AGREED AND ACCEPTED:
ECAP, LLC:
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CONVERTED ORGANICS INC.:
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