MANAGEMENT SERVICES AGREEMENT
MANAGEMENT SERVICES AGREEMENT executed this 1st day of February, 2003, by and between J. Xxxxx Xxxx (“BROW”), and The Electric Xxxxxxx.xxx Inc., (“ELECTRIC”), a Nevada corporation, with offices at suite #000-000 Xxxxx Xxxxxxx Xxxxxxxxx, Xxx Xxxxx, Xxxxxx, (collectively the “Parties”).
WHEREAS, ELECTRIC wishes to enter into a management services agreement with BROW.
IT IS THEREFORE NOW AGREED AS FOLLOWS:
| 1. | Effective February1st 2003, BROW shall
be retained by ELECTRIC for the purpose of assisting ELECTRIC in further
developing its current business model and to review and evaluate investment
opportunities for ELECTRIC. |
|
| 2. | The initial term of this agreement is
for TWELVE (12) months and may be extended upon mutual agreement of the
parties hereto. |
|
| 3. | As compensation and in consideration
for the BROW services, ELECTRIC shall remunerate BROW by issuing 4,000,000
shares of its common stock. |
|
| 4. | BROW shall not be required to devote
his entire time and attention to ELECTRIC’s business, but shall devote
such time as is necessary to properly carry out the duties for which he
is being contracted. |
|
| 5. | BROW shall be entitled to a business
expense account allowance, to cover all travel, entertainment and business
expenses, which he incurs on behalf of ELECTRIC. BROW shall maintain records
to substantiate this account allowance and provide a monthly expense report. |
|
| 6. | This Agreement shall be construed to
the laws of the state of Nevada. |
|
| 7. | This Agreement supersedes all prior
or contemporaneous oral or written statements concerning the subject matter
herein, and represents the complete and final understanding between the
parties hereto. Any modification of this Agreement is ineffective unless
provided in writing and executed by all of the parties hereto. |
|
| 8. | BROW acknowledges that he may not assign
his rights or delegate his duties or obligations under this agreement. |
| 9. | If a suit or action is instituted in
connection with any controversy arising out of this agreement, the prevailing
party shall be entitled to recover from the other party, in addition to
costs, such sums as the court may adjudge reasonable as attorneys fees,
including fees on appeal from a judgment, order or decree. |
|
| 10. | This agreement may be executed in two
or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. |
IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first written above.
_________________________________
THE ELECTRIC XXXXXXX.XXX INC.
Director: XXXXXXX XXXXXX
This ____ day of __________ , 2003.
__________________________________
J. Xxxxx Xxxx
This day ____ of ____________ , 2003.
