MANAGEMENT SERVICES AGREEMENT
THIS AGREEMENT dated effective as of the 1st day of February, 2002.
BETWEEN:
W.F.C. MANAGEMENT CORPORATION, of
Xxxxx 000, 0000 Xxxxxxxx Xxxxx,
Xxxxxxxxx, Xxxxxxx Xxxxxxxx, Xxxxxx
(hereinafter called "WFC Management")
OF THE FIRST PART
AND:
LASALLE RESOURCES, INC., a company incorporated under the laws of
the State of Nevada
(hereinafter called "Lasalle")
OF THE SECOND PART
WHEREAS:
X. Xxxxxxx Hand is an employee of WFC ("Hand");
B. Hand has geological, business and management expertise;
C. WFC maintains an office with administration services, including telephone
and computer services;
X. Xxxxxxx requires geological technical services, management services, office
administration services, including telephone and computer services, and
wishes WFC to provide same to Lasalle.
NOW THEREFORE THE PARTIES HAVE AGREED and do hereby agree as follows:
1. WFC hereby agrees to provide the services of Hand as President of Lasalle
to carry out management and direction of the business of the Company,
including managing and supervising and coordinating any mineral exploration
activities carried out by Lasalle (the "Management Services").
2. WFC hereby agrees to provide office administration services, including
telephone and computer services, to Lasalle (the "Administrative
Services").
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3. In consideration of WFC providing all the Management Services and the
Administrative Services to Lasalle, Lasalle agrees to pay to WFC a
consulting fee in the amount of $750.00 U.S. per month payable on the last
day of each month (the "Consulting Fee").
4. In addition to the payment of the Consulting Fee, Lasalle agrees to
reimburse WFC for any expenses directly attributable to performing its
obligations to Lasalle pursuant to this Agreement.
5. It is agreed that the Management Services to be provided by Hand on behalf
of WFC to Lasalle will account for approximately 15% of Hand's business
time. The Consulting Fee will be increased in the event that Hand is
required to spend more than 15% of his business time in providing the
Management Services to an amount equal to fair market value of Hand's
services.
6. This Agreement shall be for a term of one year commencing February 1, 2002
and ending January 31, 2003.
7. No amendment or termination of this Agreement shall be valid unless it is
in writing and executed by both parties.
8. Time shall be of the essence of this Agreement.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day
and year first above written.
W.F.C. MANAGEMENT CORPORATION
by its authorized signatory
/s/ Xxxxxxx Hand
Signature of Authorized Signatory
Xxxxxxx Hand
Name of Authorized Signatory
LASALLE RESOURCES, INC.
by its authorized signatory
/s/ Xxxxxxx Hand
Signature of Authorized Signatory
Xxxxxxx Hand
Name of Authorized Signatory
