January 11, 2005 Mr. Israel Vicente Global Consulting Solutions, LLC
Exhibit
10.11
January
11, 2005
Xx.
Xxxxxx Xxxxxxx
Global
Consulting Solutions, LLC
This
letter agreement will define the terms which will govern business between
Platinum IT Consulting, Inc. and Global Consulting Solutions, LLC.
Permanent
Placements - All fees net of expenses for placements in which one of the
companies provides the client and the other provides the applicant will be
split
equally between the two companies regardless of which company performs which
function. Any third party expenses such as applicant travel will be deducted
prior to the split. Any expenses specific to the function, either sales or
recruiting will be xxxxx by the party incurring the expense. Disbursement of
fees will be made after any guarantee periods for the specific placement have
expired.
Consulting
Placements - All gross profit for consulting placements will be split equally
between the two companies. Gross profit is defined as billed amount less
burdened pay amount. In the case of consultant who is compensated on a
corporation to corporation basis, there is no burden. For W-2 consultants,
the
burden is 12% of pay rate. For example, if there is a xxxx rate of $100 and
a
pay rate of $70, the split amount would be $15 for each party for a corp to
corp
consultant and $10.80 for a W2 consultant ($100 - $70*1.12). Disbursement of
fees will be made when payment is received from the client.
We
look
forward to a long and mutually profitable relationship.