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EXHIBIT 10.19
[XXXXXXXXXXXX.XXX LETTERHEAD]
August 27, 1999
PERSONAL AND CONFIDENTIAL
Xx. Xxxxxx Xxxx
c/o #100 - 0000 Xxxxxx Xxxxx
Xxxxx Xxxxxxxxx, X.X. V7P 1V7
Dear Sokhie:
Re: Management Employment Agreement
The purpose of this letter is to make you an offer of Management Employee on the
following terms and conditions:
1) Position: Vice President Corporate Development
2) Salary: $110,000 CND per annum
3) Term: This Management agreement is for a period of two
years, ending September 30, 2001.
4) Stock Options: Xxxxxxxxxxxx.xxx will grant 100,000 company options
at the allowable price as dictated by rules of the NASD and SEC.
5) Termination: In the event you wish to terminate this agreement,
you will provide the Company with reasonable notice. In the event that the
Company wishes to terminate this agreement, it shall be obligated to provide
you with not less than six months notice or pay in lieu thereof.
6) Salary Review: Xxxxxxxxxxx.xxx will review the performance and
contribution of Xxxxxx Xxxx during this period prior to a major financing.
Provided a major financing is closed the annual salary will be adjusted post
financing to $140,000 per annum.
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August 27, 1999
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If you are in agreement with the term and conditions set out in this letter,
please sign and return a copy to us.
We look forward to continue our relationship with you at Xxxxxxxxxxxx.xxx.
Sincerely,
XXXXXXXXXXXX.XXX
/s/ XXXXXXX XXXXXXX
Xxxxxxx Xxxxxxx
President, COO, Director
/s/ XXXXXX XXXX
Xxxxxx Xxxx
Vice President Corporate Development
