EMPLOYMENT AGREEMENT
THIS AGREEMENT made as of October 16, 1996 between Globus International
Resources Corp. having an address at 0 Xxxxx Xxxxx Xxxxxx, Xxxxx 0000, Xxx Xxxx,
XX 00000 (the "Company") and Xxxxx Xxxxxxxx having an address located at 0000
Xxxx 0xx Xxxxxx, Xxx. 0X, 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
the 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 Export Manager 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 export products from USA and Europe to clients
in Russia.
2 - Develop and initiate long-term contracts with American and European
transport companies to export products to existing clients.
3 - To work closely with manufacturers in the USA to develop new
products and export overseas. Assist with export documentation,
correspond with US customs and other US agencies.
(b) The Employee's services 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 6 (six) 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 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 of the Employee shall be paid
as compensation for services the sum of $380.00 per week.
(b) The Employee will receive 20,000 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:
________________________ _____________________________________
Xxxxx Xxxxxxxx
