EXHIBIT 10.5
CONSULTING AGREEMENT
This consulting agreement is made and dated for reference (the "Effective date")
as of November 1, 2001.
BETWEEN:
Xxx XxXxxxx #000-0000 Xxxxxxxx Xxxxxx, Xxxxxxxxx, XX X0X 0X0
(the "Consultant");
AND:
DBS Holdings, Inc. 1 - 0000 Xxx Xxxxxx, Xxxxxxxxx, XX X0X 0X0
(the "Company")
WHEREAS:
The Consultant will engage his efforts as Chief Financial Officer of the
corporation and will carry on his duties to the extent of what is standard
in the industry. His duties will include and not limited to the following:
1. completing DBS and MI Vascular's yearend audit;
2. completing a review of Q1 results;
3. completing DBS's 8-K, 10-KSB, 10Q and 14-C filings;
4. liaise with and supervise DBS' financial consultants and auditors;
5. participate in management meetings determining the company's long
term objectives, direction and strategies.
6. such other duties as requested by Xx. Xxxx Xxxxxxx.
The completion of these tasks is subject to the appointment of auditors for MI
Vascular Innovations and DBS Holding, Inc.
Fees:
Consulting fee of CAD $5,500.00 per month plus GST payable in installments
of $2,750. on the 15th and the 30th of each month in arrears, plus approved
expenses and 25,000 stock options at US$.55.
Term:
The term of this Agreement is for a period of six months, commencing on
the Effective Date November 1, 2001.
Renewal:
This Agreement is subject to renewal for one month periods, upon notice
from DBS. The Company agrees to notify the Consultant, at least 30
calendar days prior to the end of the Term, of the Company's intent to
renew this Agreement.
DBS Holdings, Inc.
-------------------------- -----------------------------
Xxxx X. Xxxxxxx Xxxxxxx X. XxXxxxx
DBS HOLDINGS INC.
M-I VASCULAR INNOVATIONS INC.
Xxxx 0, 0000 Xxx Xxxxxx, Xxxxxxxxx, Xxxxxxx Xxxxxxxx, Xxxxxx X0X 0X0
Tel: (000) 000-0000 - Fax: (000) 000-0000 - xxx.xxxx.xx
