EMPLOYEE LEASING AGREEMENT
Parties:
This
agreement is
between HR Management Systems, Inc. (HRMS) a corporation located at 00000
Xxxxxxx Xxx Xxxxx, Xxxxxx, XX 00000 and Green Energy Live, Inc. (GEL), a
corporation located at 0000 00xx
Xxxxxx,
Xxxxx 0-000, Xxxxxxx, XX 00000-0000.
Services:
Under the terms of
this agreement HRMS will be providing GEL with human resources to provide
various business support functions and tasks that include:
· Financial
Management and planning
· Accounting
& Taxes
· Budgeting
and forecasting
· Investor
Relations
· Marketing
· Business
Development
· Business
Prospecting
Fees:
The monthly fee for
services provided will be cost plus 5%. Costs will include payroll taxes and
benefits, which are estimated below. If actual costs vary by more than 10%
of
the estimated cost then this agreement must be amended and approved by both
parties. There is also a one-time retainer fee of $3,000 to be paid by October
12th,
2007.
Estimated monthly fees are as follows:
|
Compensation
for services provided by HRMS
|
$ | 16,500 | ||
|
Estimated
Payroll taxes (8%)
|
$ | 1,500 | ||
|
Estimate
Benefit costs
|
$ | 0 | ||
|
Estimated
5% Fee
|
$ | 1,000 | ||
|
Estimated
total monthly fee
|
$ | 19,000 |
Schedule
and Term: Payment is
to be made via two equal installments on the and 15th
of each
month beginning with November 1st 2007
and a one time October, 2007 payment of $10,000. Either party may cancel this
agreement as long as 30 days written notice is provided. The current scope
and
fee structure will remain in effect until mutually amended and agreed to by
both
parties. This agreement replaces any former agreements that exist between HRMS
and GEL.
Payment
should be made via bank wire
to:
HR Management Systems, Inc.
Routing
#: 000000000
Account
#: 2000031062918
Wachovia
Bank, N.A. Austin, Texas
This
contract is agreed to this 9thof
October,
2007 , by:
|
/s/Xxxx
Xxxxx
|
/s/Xxxxx
Xxxxx
|
|
|
Xxxx
Xxxxx, President HRMS
|
Xxxxx
Xxxxx, President GEL
|
