iLink Telecom, Inc.
Xxxxx 000 - 0000 Xxxxxx Xxxxxx, Xxxxxxxxx, X.X. X0X 0X0
Tel: (000) 000-0000 Fax: (000) 000-0000 email: xx@xxxxxxxxx.xxx
February 27th, 1999
Attention: Xx. Xxxx Xxxxxxxxxxxxx, President, Devmar Holdings Ltd.
RE: iLink Telecom, Inc. & Devmar Holdings Ltd. Management Contract
Dear Xx. Xxxxxxxxxxxxx:
This document is to outline the terms of the management contract that Devmar
Holdings Ltd. ("Devmar") will undertake on behalf of iLink Telecom, Inc. Devmar
Holdings Ltd. is a wholly owned holding corporation owned by Xx. Xxxxxxxxxxxxx.
Xx. Xxxxxxxxxxxxx will act as Director, President and Chief Executive Officer,
effective April 1, 1999. This contract will be in place for five years. Either
party shall be entitled to terminate this consulting agreement by providing the
other party with four calendar weeks written notice.
For this, Devmar will be remunerated a sum of $5,000 USD per month plus GST,
with a management review on a semi-annual basis.
Devmar will be expected to provide:
1. Strategic planning to iLink Telecom, Inc.;
2. Financial planning and development pro-forma cash projections;
3. Expertise relating to Mergers and Acquisitions;
4. Management expertise;
5. The hiring and staffing of iLink Telecom, Inc.;
6. Xx. Xxxxxxxxxxxxx acting as a director of iLink Telecom, Inc.;
7. Assembling a Board of Directors for iLink Telecom, Inc.;
8. Developing a corporate hierarchy for iLink Telecom, Inc.;
9. Provide direction for the corporate governance of iLink Telecom, Inc.;
and,
10. Utilize the funds within iLink Telecom, Inc. to develop a business
that is parallel to the business plan and business model that iLink has
created.
Xx. Xxxxxxxxxxxxx is declaring that he also has similar consulting agreement
with two private organizations in unrelated fields.
A signed copy of this document signifies acceptance of these terms.
Xxxxx Xxxxxxx Devmar Holdings Ltd.
Director Per: Xxxx Xxxxxxxxxxxxx, President
