Consulting Services Agreement
Exhibit 10.3
THIS NON-EXCLUSIVE AGREEMENT ("Agreement") is made on January 1, 2006, (the "Execution Date").
BETWEEN:
Sino Fibre Communications, Inc. ("Sino Fibre"), a Nevada corporation with its principal office located at The Chrysler Building, 000 Xxxxxxxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000 U.S.A (hereafter referred to as "Sino Fibre");
and
Xxxxxx Boulliet, having his principal residence at X.X. Xxx 00000
Xxxxx Xxxx, Xxxxxx, X.X. (hereafter referred to as "Boulliet").
The parties hereby agree as follows:
- Scope of Work. Boulliet shall perform the services set forth in Schedule A of this Agreement. Any additions to or modifications of Schedule A shall be in writing and shall be signed by both parties. The performance of services and compensation necessary for the completion of such additions or modifications shall be governed by this agreement unless otherwise described in the written agreement of the parties.
- Payments. Payment for the services rendered as per Schedule A shall be made as specified in Schedule B.
- Confidentiality. Boulliet acknowledges that Confidential Information (as defined in Item 5 of this letter) is of great value to SINO FIBRE Accordingly, Boulliet agrees not to divulge to anyone, either during or after the term of this Mandate, any Confidential Information obtained by Boulliet and which is owned by SINO FIBRE during the term of this Mandate. Upon the expiration or termination of this Mandate, Boulliet agrees to deliver to Asia Payment Systems all documents, papers, drawings, tabulations, reports and similar documentation which are furnished by SINO FIBRE to Boulliet or which were prepared by Boulliet in performance of the Services for the SINO FIBRE. Upon the expiration or termination of this Agreement, Boulliet agrees to make no further use or utilization of any Confidential Information. The provisions of this Section 6 shall survive the termination of this Mandate for a period of two years.
- Non-Disclosure Agreement. Both parties remain bound by the terms of their mutual Non-Disclosure Agreement dated January 16, 2006, for the greater of: i) the term of their mutual Non-Disclosure Agreement or ii) the term of this Mandate.
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- Definitions. As used in this Agreement:
"Confidential Information" means information of SINO FIBRE or any person or business entity directly or indirectly controlled by or controlling SINO FIBRE, or in which any of the aforesaid have at least a 50% interest, which information is or has been disclosed to Boulliet or known to Boulliet as a consequence of or through the performance of Services for SINO FIBRE, whether or not related to his duties for SINO FIBRE, including, but not limited to, information relating to Inventions, original works of authorship, disclosures, processes, systems, methods, formulas, trade secrets, procedures, concepts, algorithms, software, compositions, techniques, drawings, specifications, models, data, source code, object code, documentation, diagrams, flow charts, research procedures, copyrights, copyright applications, trademarks, trademark applications, devices, machinery, materials, cost of production, contract forms, prices, pricing policies, volume of sales, promotional methods, identity or information about customers or suppliers, marketing techniques or other information of a similar nature. Information shall be considered to be Confidential Information if not known by the trade generally, even though such information has been disclosed to one or more third parties pursuant to distribution agreements, joint research agreements, or other agreements entered into by SINO FIBRE.
- Termination. Either party may terminate this agreement with or without cause on ten (10) business days written notice. In the event of any termination of this Agreement, SINO FIBRE shall make payments to Boulliet for all Services performed in accordance with the terms and conditions of this Mandate up to the date of termination, and Boulliet shall immediately return to SINO FIBRE, without limitation, all documents, drawings and any other items of whatever nature supplied to Boulliet by SINO FIBRE or owned by SINO FIBRE pursuant to this Agreement.
- Independent Contractor/Taxes. Boulliet is not an agent or employee of SINO FIBRE and is not authorized to act on behalf of SINO FIBRE. Except as required by a final determination by the relevant taxing authority and upon due notice to the other party, Boulliet and SINO FIBRE each agrees that it will treat Boulliet as an independent contractor for tax purposes and file all tax and information returns and pay all applicable taxes on that basis.
- Assignment. Neither party shall assign this Agreement or any interest herein, nor delegate any obligation hereunder without the prior written consent of the other party.
- Governing Law. This Agreement, together with its Schedules, shall be governed by the laws of the State of Nevada in the United States Of America.
- Limitation Of Liability. In no event shall either party be liable for indirect, consequential, incidental, special or punitive damages, or for loss of use, lost profits or loss of goodwill, whether arising under theories of contract, tort (including negligence) or otherwise. Each party's total liability hereunder, shall not in the aggregate exceed any sums due or paid hereunder
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- Headings. The headings in this letter are intended principally for convenience and shall not, by themselves, determine the rights and obligations of the parties to this Mandate.
- Notices. All notices, requests, demands, and other communications required by, or made in connection with, this Mandate or the transactions contemplated by this Mandate, shall be in writing and shall be deemed to have been duly given on the date of delivery, if delivered in person, or three days after mailing if mailed by certified or registered mail, postage prepaid, return receipt requested, addressed as follows:
If to SINO FIBRE: The address listed in this agreement or by fax to:
(000) 0000 0000
If to Boulliet: The address listed in this agreement.
Such addresses may be changed, from time to time, by means of a notice given in the manner provided in this Section 13.
- Severability. If any provision of this Mandate is held to be unenforceable for any reason, such provision shall be adjusted rather than voided, if possible, in order to achieve the intent of the parties to the maximum extent possible. In any event, all other provisions of this Mandate shall be deemed valid and enforceable to the full extent possible.
- Waiver. The waiver of any term or condition contained in this Mandate by any party to this Mandate shall not be construed as a waiver of a subsequent breach or failure of the same term or condition or a waiver of any other term or condition contained in this Agreement.
- Entire Agreement. This letter contains all of the terms and conditions agreed upon by the parties relating to the Mandate and supersedes any and all prior and contemporaneous agreements, negotiations, correspondence, understandings and communications of the parties, whether oral or written, respecting the subject matter hereof except for the Non-Disclosure Agreement signed by SINO FIBRE and Boulliet on January 16, 2006.
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Accepted by SINO FIBRE: |
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By: XXXX XXXXX |
[Signature] |
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Name: |
Xxxx Xxxxx |
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Title: |
CEO |
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Accepted by Boulliet: |
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By: XXXXXX BOULLIET |
[Signature] |
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Name: |
Xxxxxx Boulliet |
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Schedule A
Term of Mandate and Scope of Services
The term of this Agreement shall commence on the Effective Date hereof and shall continue for a period of 12 months. Thereafter, this Agreement can be renewed with the mutual consent of the parties.
Boulliet agrees to perform the following services on behalf of SINO FIBRE:
Chief Technology Strategist:
Boulliet agrees to undertake management or supervision of projects in support of Sino Fibre Communications' ongoing business and/or any other work or projects as directed to Boulliet by the CEO of Sino Fibre.
Boulliet agrees that he will undertake to complete in a timely manner all business related requests as directed by the Executive Management and/or individual members of the Board of Directors of Sino Fibre.
For the avoidance of doubt, Boulliet will report directly to the CEO of Sino Fibre but will be under obligation to perform business related duties for the CEO and/or members of the Board of Directors of Sino Fibre.
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SCHEDULE B
Fees
Boulliet will be paid a monthly consulting fee of 3,000 USD for his services.
During the Term of this agreement, for his services SINO FIBRE will issue 150,000 employee stock options to Boulliet with an exercise price of USD 0.16 cents. Such options will have a vesting schedule of:
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Xxxxxx Boulliet |
900,000 |
USD$ [?] |
January, 2006 300,000 |
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