EX-99.8 12 doc9.txt EXHIBIT 99.8 COMPENSATION AGREEMENT THIS AGREEMENT ("AGREEMENT") DATED JANUARY 29, 2004 IS BY AND BETWEEN FTS GROUP, INC. (THE "COMPANY"), A NEVADA CORPORATION LOCATED AT AND W. SCOTT MCBRIDE, DAVID RASUMSSEN, JAMES H. GILLIGAN AND SCOTT GALLAGHER (COLLECTIVELY, THE "BOARD MEMBERS"). WHEREAS, the Company is a publicly traded company. WHEREAS, each Board Member has served the Company in the capacity of Director. WHEREAS, the Company has obtained the benefits of Board Member's experience and know-how. NOWTHEREFORE in consideration of the foregoing, the parties agree as follows: SECTION 1. SERVICES RENDERED ------------------ The Board Members have provided services as directors to the Company for the forth quarter of 2002 and the four quarters of 2003. SECTION 2. COMPENSATION ------------ Pursuant to the Company's plan to compensate its directors, the Company had agreed to pay each director $2,000 per quarter in cash or stock at the Company's discretion. The Company has elected to pay the Board Members in stock for the last quarter of 2002 and the four quarters in 2003. As a result, the Company will issue each Board Member 62, 500 shares of its common stock for five quarters of service to the Company. The total number of shares of common stock issued pursuant to this Compensation Agreement will be 250,000. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above written. FTS Group, Inc. /s/ Scott Gallagher Chairman of the Board, January 29, 2004 ----------------------- Chief Executive Officer, Scott Gallagher President and Director /s/ James H. Gilligan Director January 29, 2004 ----------------------- James H. Gilligan /s/ David Rasmussen Director January 29, 2004 ----------------------- W. David Rasmussen