MANAGEMENT SERVICES AGREEMENT
THIS AGREEMENT dated effective as of the 1st day of December, 2000.
BETWEEN: W.F.C. MANAGEMENT CORPORATION, of
Xxxxx 000, 0000 Xxxxxxxx Xxxxx,
Xxxxxxxxx, Xxxxxxx Xxxxxxxx, Xxxxxx
(hereinafter called "WFC Management")
OF THE FIRST PART
AND: COMMODORE MINERALS, INC., a company
incorporated under the laws of the
State of Nevada
(hereinafter called "Commodore")
OF THE SECOND PART
WHEREAS:
X. Xxxxxxx Hand is an employee of WFC ("Hand");
B. Hand has geological, business and management expertise;
C. WFC maintains an office with administration services, including
telephone and computer services;
D. Commodore requires geological technical services, management
services, office administration services, including telephone and
computer services, and wishes WFC to provide same to Commodore.
NOW THEREFORE THE PARTIES HAVE AGREED and do hereby agree as follows:
1. WFC hereby agrees to provide the services of Hand as President of
Commodore to carry out management and direction of the business
of the Company, including managing and supervising and
coordinating any mineral exploration activities carried out by
Commodore (the "Management Services").
2. WFC hereby agrees to provide office administration services,
including telephone and computer services, to Commodore (the
"Administrative Services").
3. In consideration of WFC providing all the Management Services and
the Administrative Services to Commodore, Commodore agrees to pay
to WFC a consulting fee in the
-2-
amount of $750.00 U.S. per month
payable on the 1st day of each month (the "Consulting Fee").
4. In addition to the payment of the Consulting Fee, Commodore
agrees to reimburse WFC for any expenses directly attributable to
performing its obligations to Commodore pursuant to this
Agreement.
5. It is agreed that the Management Services to be provided by Hand
on behalf of WFC to Commodore will account for approximately 15%
of Hand's business time. The Consulting Fee will be increased in
the event that Hand is required to spend more than 15% of his
business time in providing the Management Services to an amount
equal to fair market value of Hand's services.
6. This Agreement shall be for a term of one year and one month
commencing December 1, 2000 and ending December 31, 2001.
7. No amendment or termination of this Agreement shall be valid
unless it is in writing and executed by both parties.
8. Time shall be of the essence of this Agreement.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as
of the day and year first above written.
W.F.C. MANAGEMENT CORPORATION
by its authorized signatory
/s/ Xxxxxxx Hand
__________________________________
Signature of Authorized Signatory
XXXXXXX HAND
__________________________________
Name of Authorized Signatory
COMMODORE MINERALS, INC.
by its authorized signatory
/s/ Xxxxxxx Hand
__________________________________
Signature of Authorized Signatory
XXXXXXX HAND
__________________________________
Name of Authorized Signatory
