Better than storing in a variable, use this :
find . -type f -name "*.jpg" -exec command {} \;
Even, if you want, command can be a full bloated shell script.
A demo is better than an explanation, no ? Copy paste the whole lines in a terminal :
cat<<'EOF' >/tmp/test
#!/bin/bash
echo "I play with $1 and I can replay with $1, even 3 times: $1"
EOF
chmod +x /tmp/test
find . -type f -name "*.jpg" -exec /tmp/test {} \;
Edit: new demo (from new questions from comments)
find . -type f -name "*.jpg" | head -n 10 | xargs -n1 command
(this another solution doesn't take care of filenames with newlines or spaces)
This one take care :
#!/bin/bash
shopt -s globstar
count=0
for file in **/*.jpg; do
if ((++count < 10)); then
echo "process file $file number $count"
else
break
fi
done