Agreement Between
Agreement
Between
Xx. Xxxxx Xxxx, Xxx xx Xxxxxxxx 00, 0000 Xxxx xx Xxxx, Xxxxxxxxxxx
and
Exploration Drilling International Inc., Xxxxxxxxxxxx 00, Xxxxxxxxxxxxxx, X-00000 Xxxxxxx, Xxxxxxx
0. Xx. Xxxx agrees to provide Exploration Drilling International Inc. (“EDI”) with public relations services, especially spreading EDI-Story to editors of stock and money news-letters in Europe (written and mailer – based). Xx. Xxxx will also contact potential European private and institutional investors about EDI. When providing these services, Xx. Xxxx agrees not to contact any US persons, including, but not limited to, citizens of the United States and individuals, companies or other entities resident in the United States.
2. Xx. Xxxx agrees to provide the services to be performed by him under this Agreement for a period ending on February 28, 2009.
3. Xx. Xxxx agrees that the services to be performed by him under this Agreement will be performed in compliance with all applicable securities and other laws. Notwithstanding the generality of the preceding sentence, Xx. Xxxx agrees not to:
(a) make use of spam e-mails or spam faxes or any other improper promotional methods or activities, and shall not engage any subcontractor who conducts, or is otherwise involved in, such activities; and
(b) distribute any materials or make any representations about EDI, its business or its prospects, other than as set out in EDI’s public filings made with the United States Securities and Exchange Commission, without EDI’s prior written approval.
4. In exchange for Xx. Xxxx’x services, EDI will issue 250,000 shares of its common stock to Xx. Xxxx, and share purchase warrants to purchase an aggregate of 250,000 additional shares of EDI’s common stock at a price of $0.25 per share for a period ending on February 28, 2009.
5. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersede all prior arrangements and understandings, both written and oral, expressed or implied, with respect thereto. Any preceding agreements, correspondence or offers are expressly superseded and terminated by this Agreement.
6. This Agreement may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.
This Agreement is dated effective as of February 13, 2008
EXPLORATION DRILLING | ||
INTERNATIONAL INC. | ||
/s/ Xxxxx Xxxx | /s/ Xxxxxx Xxxxxxxx | |
XXXXX XXXX | XXXXXX XXXXXXXX | |
Chief Financial Officer |