Multi-Tech International, Corp.
BUSINESS CONSULTANT AGREEMENT
This agreement dated April 30, 2003, is made By and Between: Multi-Tech
International, Corp., herein referred to as "Company" and Xx. Xxx X. Xxxxxx,
herein referred to as "Consultant".
W I T N E S S E T H :
1. Consultation Services:
The company hereby employs the consultant to perform the following services
in accordance with the terms and conditions set forth in this agreement: The
consultant will consult with the officers, employees and consultants of the
company concerning matters relating to the management and organization of the
company, including but not limited to serve as consultant on short and long
term trade and economic development initiatives; recommend, design and
implement strategies for team development, market research, budgeting,
marketing materials, primary market development, due diligence,
territory/corporate licensing, product, and service marketing/sales programs,
broker relations, and public relations programs, service provided by the
consultant, which include recommendations for resolving disputes and to
generally consult any matter arising out of the business affairs of the
company, which are accepted and agreed to by the consultant. The Consultant
will issue timely and clearly written reports for each service provided.
2. Terms of Agreement:
This agreement will begin May 13, 2003 and will end May 12, 2004. Either party
may cancel this agreement on seven (7) days notice to the other party in
writing, by registered letter.
3. Time Devoted by Consultant:
It is anticipated the consultant will spend sufficient time to fulfill its
obligations under this agreement. The particular amount of time may vary from
day to day or week to week.
4. Payment to Consultant:
For the services rendered by the consultant as set forth herein the consultant
will be paid a fee of 2,000,000 (two million) free trading shares of the
company's common stock, which shall be registered on a Form S-8. The
consultant is prohibited from selling the free trading shares issued in this
agreement, throughout the term of this agreement, unless otherwise notified in
writing by the company.
5. Independent Contractor:
Both the company and the consultant agree that the consultant will act as an
independent contractor in the performance of its duties under this contract.
Accordingly, the consultant shall be responsible for payment of all taxes
including Federal, State and local taxes arising out of the consultant's
activities in accordance with this contract, including by way of illustration
but not limitation, Federal and State income tax, Social Security tax,
Unemployment Insurance taxes, and any other taxes or business license fee as
required.
6. Confidential Information:
The consultant agrees that any information received by the consultant during
any furtherance of the consultant's obligations in accordance with this
contract, which concerns the personal, financial or other affairs of the
company will be treated by the consultant in full confidence and will not be
revealed to any other persons, firms or organizations.
7. Employment of Others:
The company may from time to time request that the consultant arrange for the
services of others. All costs to the consultant for those services will be
paid by the company but in no event shall the consultant employ others without
the prior authorization of the company.
8. Representation.
The consultant represents that he is familiar with securities laws (both
federal and state) and is receiving the shares of common stock set forth
herein for the services rendered pursuant to the terms of this agreement.
The services to be performed by the consultant to not include any form of
capital raising activities. The consultant is a sophisticated investor and
is aware of the risks involved in accepting shares of commons tock in lieu of
cash compensation. The consultant is an accredited investor as defined under
Regulation D.
9. Termination:
In the event the consultant terminates this agreement for any reason whatsoever
or the company terminates this agreement by written notice to the consultant,
for breach by consultant or consultant's failure to perform, the consultant
shall return that portion of the shares within five business days, which have
not been accounted for to the company.
9. Signatures:
Both the company and the consultant agree to the above contract:
Accepted by: Accepted by:
By: /s/ Xxxx X. Xxxxxxx, III By Xxx Xxxxxx
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Xxxx X. Xxxxxxx, III, President Xx. Xxx Xxxxxx
Multi-Tech International, Corp. Date: May 14, 2003
Date: May 13, 2003
