EMPLOYMENT AGREEMENT
THIS AGREEMENT made as of October 16, 1996 between GLOBUS INTERNATIONAL
RESOURCES CORP. having an address located at 0 XXXXX XXXXX XXXXXX, XXXXX 0000,
XXX XXXX, XX 00000 (the "Company") and XXXX XXXXX having an address located at
0000 XXXXX XXXXXX, XXXXXXXX, XX 00000 (the "Employee")
W I T N E S S E T H:
WHEREAS, the Company desires to employ the Employee to perform certain
services in connection with the Company's development of business contacts in
Russian Federation; and
WHEREAS, the Employee has experience and business contacts in the
Russian Federation and desires to assist the Company in developing and promoting
the Company's corporate finance business in the Russian Federation; and
WHEREAS, the parties wish to set forth in writing the terms and
conditions of this Employment Agreement
NOW THEREFORE, in consideration of the mutual covenants and promises
contained in this Agreement, the parties agrees as follows:
SECTION 1. Term. The Company engages the Employee as Director of
International Sales & marketing as set forth in this agreement, the Employee
hereby accepts this engagement, for a term of 3 YEARS beginning on the date of
this Agreement. During this Agreement's term, the Employee shall devote
sufficient time, unless prevented from so doing because of sickness or
disability, to the performance of services as shall be necessary or as shall be
agreed to between Company and the Employee. Company and Employee may extend the
term of this Agreement for additional years by mutual agreement.
SECTION 2. Services. The Employee's services to be performed are as
follows:
(a) From time to time, as and when requested to do so by the
Company, the Employee shall provide business advice in connection with the
Company's business development efforts in the Russian Federation. These services
shall include, without limitation, providing advice and information regarding
business affairs and dealings in the Russian Federation and making
recommendations to the Company regarding business operations in the Russian
Federation. The Employee also shall actively promote the Company's business in
the Russian Federation and refer business contacts to the Company.
SPECIFICALLY: But not limited to:
1 - Assist the Company to extend the product sales by increasing
additional suppliers and manufacturers in Europe and in the United
States.
1 - Develop and initial long-term contracts with American and European
manufacturers to resale products to companies in Russian and
European communities.
2 - Assist the Company by working closely with United States banks to
finance all purchases of products through letters of credit; secured
lines of credits and obtain other more favorable terms from
International banks in the United States and in Europe.
3 - Develop and market new products for resale to well established
clients in Russian Federation and in Europe.
(b) The Employee's service shall be performed at times and places as
shall be agreed to from time to time by the Company and the Employee. The
Employee shall maintain his contacts in and knowledge of the Russian Federation
through frequent trips to and from the Russian Federation, and shall be
available to travel to and from the Russian Federation to assist the Company in
the Company's business development activities, during the term of this
Agreement.
(c) The Employee will be required to attend six (6) Board of
Directors meetings per year on the Company's main headquarters and will report
directly to the Company's Board of Directors. All travel and accommodation
expenses paid for by the Company.
(d) The Employee will be required and will commit to a minimum of 40
hours of work per week on the services outlined above.
SECTION 3. Compensation.
(a) During the term of this Agreement the Employee shall be paid as
compensation for services the sum of $676 per week.
(b) The Employee will receive 35,000 shares of Restricted 144 Stock
issued from the Company's treasury for prior services rendered , which, at the
date of this agreement, has a fair market value of $0.40 per share.
SECTION 4. Assignment. This contract may not be assigned without the
Company's prior written consent.
SECTION 5. Notices. All notices and other communications shall be in
writing and shall be deemed to have been duly given if delivered personally or
mailed, registered or certified mail, to the business address or the residence
of the party.
SECTION 6. Entire Agreement. This Agreement constitutes the entire
agreement among the parties relating to this consulting engagement and
supersedes all prior agreements or understandings between the Company and the
Employee.
SECTION 7. Separability. The provisions of this Agreement are
independent of and severable from each other, and no provision shall be affected
or rendered invalid or unenforceable if, for any reason, any other provision is
invalid or unenforceable in whole or in part.
SECTION 8. Applicable Law. This Agreement shall be governed by, and
construed and enforced in accordance with, the Laws of the State of New York,
without regard to its conflicts of law principles.
IN WITNESS WHEREOF, the parties have set their hands on the day and year
first above written
WITNESS: COMPANY:
________________ ____________________________________
GLOBUS INTERNATIONAL RESOURCES CORP.
XXXXXX XXXX, SECRETARY
WITNESS: EMPLOYEE:
________________ ____________________________________
XXXX XXXXX
