MANAGEMENT SERVICES AGREEMENT
THIS AGREEMENT made as of the 1st day of July 2002.
BETWEEN:
XXXXXX ENTERPRISES INC., a company
incorporated under the laws of the
State of Nevada
(Herein referred to as “Xxxxxx”or the “Company”)
AND:
ANGUS CONSULTING INC., of
0000 Xxxxxxxxx Xxxxx
Xxxxx Xxxxxxxxx, Xxxxxxx Xxxxxxxx, Xxxxxx
(Herein referred to as “Angus Management”)
WHEREAS:
A. Angus Management, a company incorporated under the laws of the Province of British Columbia, maintains an office with administration services, including telephone, fax and computer services;
B. Xxxxxx Xxxxx, an employee of Angus Management, has business and management expertise relevant to Xxxxxx’x business;
X. Xxxxxx requires management and administrative services, project management services and office administration services including, telephone, fax and
computer services, all as related to the Company’s mineral exploration activities, and wishes to retain Angus Management to provide same.
NOW THEREFORE THIS AGREEMENT WITNESSES that the parties agree as follows:
1. SERVICES AND SCOPE OF WORK
Angus Management will:
(a) Provide the services of Xxxxxx Xxxxx as President of Xxxxxx to carry out the management and direction of the business of the Company, including retaining appropriate geological consultants, and managing, supervising and coordinating
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the mineral exploration activities carried out by Xxxxxx (the “Management Services”); and
(b) Provide office administration services including telephone, fax and computer services related to the Management Services (the “Administrative Services”).
2. TERM
The Term of this Agreement shall be for a period of two years commencing July 1, 2002 and ending June 30, 2004.
3. COMPENSATION
In consideration of Angus Management providing the above Management Services and Administrative Services, Xxxxxx agrees to pay to Angus Management a consulting fee in the amount of US $900.00 per month payable on the 1 st day of each month. It is understood that the Management Services to be provided by Xxxxx on behalf of Angus Management to Xxxxxx will account for approximately 15% of Xxxxx'x business time. It is further agreed that, in the event that Xxxxx is required to spend more than 15% of his business time in providing the Management Services, the consulting fee above will be increased to an am!
ount equal to the fair market value of Xxxxx'x services.
4. EXPENSES
It is understood and agreed that Angus Management will incur out-of-pocket expenses in connection with rendering the services provided for under this Agreement, including expenses related to travel. Apart from incidental parking, photocopying and long distance telephone charges related directly to the services provided, any travel and other expenses shall be as agreed with Xxxxxx in advance. To the extent that convenient arrangements cannot be made to have such expenses paid directly by the Company, they will be invoiced by Angus Management to Xxxxxx at cost.
5. CONFIDENTIAL INFORMATION
Angus Management covenants and agrees that it shall not disclose to anyone any confidential information with respect to the business or affairs of Xxxxxx, except as may be necessary and in the best interests of Xxxxxx or as required by a court or legal tribunal of competent jurisdiction. This obligation shall survive the expiry of this Agreement.
6. TERMINATION OF SERVICES
The parties agree that Angus Management’s services under this Agreement may be terminated as follows: (a) by Xxxxxx upon giving 30 days written notice of termination to Angus Management, or (b) with the mutual written consent of both Xxxxxx and Angus Management.
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7. SEVERABILITY
In the event that any provision or part of this Agreement shall be deemed to be null and void by a Court of competent jurisdiction, the remaining provisions or parts shall remain in full force and effect.
8. ENTIRE AGREEMENT
This Agreement constitutes the entire Agreement between the parties with respect to the retaining by Xxxxxx of Angus Management, and any and all previous agreements, written or oral, express or implied, between the parties relating to the retaining of Angus Management by Xxxxxx, are terminated.
9. MODIFICATION OF AGREEMENT
Any modification to this Agreement must be agreed in writing and signed by the parties or it shall have no effect and shall be void.
10. HEADINGS
The headings used in this Agreement are for convenience only and are not to be construed in any way as additions or limitations of the covenants and agreements contained in it.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first above written.
XXXXXX ENTERPRISES INC.
Per: /s/ Xxxxxx Xxxxx
Xxxxxx Xxxxx, President
Authorized Signatory
ANGUS CONSULTING INC.
Per: /s/ Xxxxxx Xxxxx
Xxxxxx Xxxxx, President
Authorized Signatory
