AGREEMENT
Exhibit-10.1
AGREEMENT
THIS AGREEMENT is made on the 11th day of June 2010.
BETWEEN:
Atlantic Components Limited (“ATL”), a Hong Kong corporation with its Registered place of business at Xxxx 0000, 00/X., Xxxxx 0, Xxxxxxxxxx Xxxxxx, 9 Xxxxxx Xxxx Road, Kowloon Bay, Kowloon, Hong Kong.
AND
Xx. XXX Xxx Xxx, with address located Room X, 0/X, Xxxxxx Xxxxxxxx, 0 Xxxxxx Xxx Xxxxxx, Xxxxxxx, Hong Kong.
WHEREAS:
“ATL” hereby appoint Xx. XXX Xxx Xxx as the Chief Financial Officer. Xx. Xxx will be responsible for: the Group investor relations; road show; private investment in public equity and special project; quarter’s press release plus 10Q & 10K SEC related issues.
THEREFORE IT IS HEREBY AGREED AS FOLLOWS:
| 1. |
“ATL” agree to pay Xx. XXX Xxx Xxx in Hong Kong dollars Fifty Thousand Dollars (“HKD 50,000.00”) per month as consultation fee. |
| 2. |
“ATL” will issue 175,000 – 200,000 shares of ACL Semiconductors Inc to Xx. Xxx Xxx Xxx in a year. |
| 3. |
This AGREEMENT will operate for a term of 19 months and it will commence on 11th June 2010 and it will expire on 31st December 2011. |
| 4. |
Incentive for fund raising projects as they arise: Project ONE: 1% of fund raise for up to USD $40Million in 2010/2011. |
The parties hereto have executed this Agreement on the dates set forth above.
| Signed for and on behalf of | Signed for and on behalf of | |
| Atlantic Components Limited | Xx. XXX Xxx Xxx | |
| Date: February 21, 2011 | Date: February 18, 2011 | |
