THOMAS HONEY AGREEMENT APRIL 1, 2008
Exhibit 10.1
XXXXXX HONEY AGREEMENT
APRIL 1, 2008
AGREEMENT TERM: Two years with annual renewal on anniversary date thereafter.
TITLE: President
ENTITY NAME: “EVE TEC” (Electronic Value Exchange Technologies) or “VEE TEC” (Value Exchange & E-Commerce Technologies)
DUTIES & AUTHORITY:
REPORTS TO: The CMT Board of Directors
LIABILITY INDEMNIFICATION: D & O Insurance of Board of Directors
LOCATION: United Kingdom by 1 June 2008
RELOCATION & REPATRIATION:
| • | Packing, storage & moving expenses |
| • | Lease temporary residence in UK for two-year (2) term |
| • | Repatriation to USA upon termination of employment including packing, storage and moving expenses. |
| • | Animal quarantine (UK and US) |
COMPENSATION:
| • |
10,000 Pound Sterling Base Compensation (5,000 Payable on 1st and 16th of each month via wire or ACH transfer)* |
| • | 5,000 Pound Sterling Signing Bonus (to get started) |
| • | Incentive Compensation: To Be Determined (Consistent with European Industry Norms) |
| • | CMT Stock & Options: Preferred Shares Convertible into 250,000 common shares of CMKT |
| • |
USD 1,000 monthly for Medical, Dental, & Travel Insurance (payable of 1st of month |
| • | UK Automobile Lease & Insurance |
| • | Ex-patriot Residency & Income Tax Equalization—To Be Determined |
| • | Corporate Expense Card |
TERMINATION:
| • | Employer Induced (Company dissolution, acquisition, redundancy, etc.)—90-day written notice with (a) lump sum payment equivalent to last six months base and benefit compensation and (b) repatriation packing and moving expenses. |
| • | Employee Induced—90-day written notice by employee with repatriation packing and moving expenses. |
| • | Employer induced for Cause—Immediate with repatriation packing and moving expenses. |
SIGNED BY:
| /s/ Xxxx Xxxxxxxxxxx |
| Xxxx Xxxxxxxxxxx |
| Chairman CMT |
| /s/ Xxxx Honey |
| Xxxx Honey |
