MEMORANDUM OF UNDERSTANDING
This Memorandum confirms the agreement between Bentley House International Group
(hereafter referred to as "BHIG") and Brot/XxXxxx Delaware corporation, EIN
00-0000000 (hereafter referred to as: B/L") on this 1st day of December 1999
Whereas BHIG is a publicly traded company that is the survivor of a reverse
merger between Global TeleMedia International Inc. and Bentley House Furniture
and,
Whereas BHIG is a diverse holding company for interests in technology,
telecommunications, internet, international cable, construction and development,
timber plantations, timber processing, furniture among others, and
Whereas B/L possess expertise in management, operations, finance, marketing and
has many valuable contracts in the business world, and,
Whereas BHIG is engaging the services of B/L as a valued executive advisor,
It is agreed that B/L will provide business advisory services to BHIG. Said
engagement to be for the term of six months and may be renewed through agreement
of the parties.
B/L will be compensated as follows:
B/L will receive shares of free trading S-8 stock at the commencement of this
engagement.
B/L will receive options for 500,000 shares of BHIG at a strike price of U.S.
$.10 (ten cents) excisable for 24 months after each issuance, upon the
deployment of each and every of the following operation units/assets during the
term of this agreement or for the period of four months after its termination:
- Housing Development and construction
- Timber harvesting
- Furniture production
- XxxxxxxXxx.xxx (multi function card)
- Ultra-pulse
- Long Distance/ISP Service in BIMP-EAGA
- The installment of voice over Internet service in Australia
- Commercial/Institutional real estate development
B/L will be reimbursed for all out of pocket expenses incurred in the execution
of this agreement. No expense will be incurred without written authorization of
BHIG prior to their occurrence.
Agreed to by:
/s/ 12/23/99
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for BHIG Date
/s/ 12/23/99
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for Brot/XxXxxx, Ltd Date
