EMERGENT GROUP INC.
BJH Mangement, LLC ("BJH") October 15, 2001 145 Huguenot Street
New Rochelle, NY 10801
Re: Consulting Agreement
This will confirm our invitation to BJH to act as a consultant to Emergent Group, Inc. (the "Company") and its
wholly owned subsidiary, Medical Resource Management, Inc. ("MRM") (jointly and severally the "Companies")
upon the terms described below:
1. This arrangement will commence on Monday, October 22, 2001, and will continue for three months.
2. During the consulting period, BJH shall assign Bruce J Haber ("Bruce") to assist the Companies in strategic
decisions and fundraising, and Lou Buther ("Lou") to assist MRM with its day-to-day operations and strategic
3. BJH will report to the Board of Directors of the Company. 4. Subject to adjustment as the relationship
develops, it is contemplated that Lou will spend approximately ten out of every fourteen days working in Los
Angeles with the other four days in New York. Bruce will primarily work out of New York and will travel to Los
Angeles as necessary, it being currently contemplated that Bruce is prepared to spend up to three to four days
per month in Los Angeles.
5. The Company will pay BJH a consulting fee of $25,000 per month for these services payable on the starting
date, November 22 and December 22, 2001 In addition, the Companies will pay your reasonable expenses
(including but not limited to airfare, lodging, telephone, auto rental and meals) subject to prior approval by the
6. If by the conclusion of the three month consulting period, or three months thereafter, the Companies are
successful at obtaining a commitment for raising at least $1 million in new equity capital, on terms acceptable to
the Company, BJH will be entitled to share in a bonus equal to 10% of the Company's outstanding equity on a
post funding basis (i.e., after the equity the Companies have raised has been issued). BJH shall also be entitled to
such bonus if the Companies no l