ORAL AGREEMENT BETWEEN DYNAMIC HYDROCARBONS LTD. AND RON PETRUCCI
ORAL AGREEMENT
BETWEEN
AND
XXX XXXXXXXX
RE: Employment Arrangement
Reference Date: 1 January 2010
Reference Points:
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(a)
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Xxx Xxxxxxxx has agreed to provide managerial services to Dynamic Hydrocarbons Ltd (“Dynamic”) in the form of fulfilling the roles of President, CFO, and Secretary / Treasurer, which commitment is anticipated to involve the provision of approximately 1 day per week of time;
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(b)
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Such services will be provided to Dynamic with no charge until the Effective Date of Dynamic’s S-1 Registration Statement;
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(c)
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Subsequent to the Effective Date, Xxx Xxxxxxxx will be paid a monthly salary of $1,500, which amount will either accrue or be paid in cash based the then current fiscal situation of the Company, with there being a minimum requirement for the Company to have raised a minimum of $75,000 under the Offering in order for the salary to be paid in cash, and;
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(d)
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The parties may enter into a written employment agreement upon mutual agreement of terms and conditions at any time subsequent to the Effective date and upon a minimum of $75,000 under the Offering having been raised.
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