EXHIBIT 10.6
CONTRACTING AGREEMENT
This Contracting Agreement (hereinafter "Agreement") is made this tenth day of
September, 1999, by and between MARICULTURE SYSTEMS, INC., a Florida
Corporation, of Xxxx Xxxxxx Xxx 000, Xxxx Xxxxxxx, Xxxxxxxxxx 00000 (hereinafter
"MCSI") and Methow Valley Excavating, Inc.,a Washington Corporation, of 0000
Xxxxxxxx Xxxxx, XX Xxx 0000, Xxxx Xxxxxxx, Xxxxxxxxxx 00000 (hereinafter "MVE").
SUBJECT: As principal, MCSI wishes to engage MVE as a registered professional
contractor for the purposes of dismantling, removing and disposing of
a 45 foot diameter fiberglass fish rearing tank located and floating
in the waters of Rich Passage offshore from 0000 Xxxxx Xxxxx, Xxxx
Xxxxxxx, Xxxxxxxxxx.
MVE agrees:
1) to act as a contractor to MCSI for the successful remova of the SARGO
reservoir, pump well, pumps, debris and all attachment hardware, providing
their mobilization and professional services including those costs of
permits, disposal, trucking, diving and marine towing at an approximate
cost of $10,000.00; and
2) to provide temporary or long-term storage for the pump well, pumps and
other hardware not being disposed of through this Agreement; and
3) to accept MCSI common stock on completion of the project in lieu of cash
payment for services rendered accepting any and all tax consequences of
such a transaction; and
4) to acknowledge and understand that MCS is not now a publicly owned
Corporation and that there is no guarantee that MCSI stock will be openly
traded by any broker or agent. MVE knows and has knowledge that MCSI is a
development stage company with a limited number of investors in its
privately placed stock; and
5) to release MCSI from any and all responsibilities or liabilities resulting
from the work performed under this Agreement for the removal of the SARGO
reservoir and hardware without additional compensation.
MCSI agrees:
1) to supply MVE information, as reasonably available and as needed to assist
MVE to produce the desired removal; and
2) to pay MVE, as a contractor's fee, one (1) share of the restricted common
stock of MCSI for every one (1) dollar of fees earned by MVE. Travel,
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mobilization, disposal, sub-contractors and out-of-pocket costs are included;
and
3) to reimburse in kind, within thirty (30) days, any previously agreed upon
out- of-pocket costs upon submission to MCSI of substantiated bills; and
4) to order payment in stock of the above agreed consultant's fees upon
submission of the final xxxx for the services of MVE. Each certificate of
stock tendered under this Consulting Agreement shall be issued to "XXXXX
XXXXX". All certificates of stock shall be issued through the legal firm of
Mintmire & Associates, Palm Beach, Florida by the registered transfer
agent, Interwest Transfer Corporation, Salt Lake City, Utah or through
others as designated by MCSI, at their convenience.
This agreement is valid for one (1) year from the date first above written.
MCSI agrees that MVE is not responsible for, and does not guarantee any cost
bids for the removal of the vessel or sub-systems to that vessel. MVE may not
negotiate any final contract on behalf of MCSI nor can MVE, either intentionally
or unintentionally, financially obligate MCSI without specific written
instructions for each act. MVE cannot and will not be held legally responsible
for the results or the actions or the consequences of any MCSI negotiations
outside of this Agreement.
Intending to be legally bound, the parties have signed this Contracting
Agreement as of the date first above written.
MARICULTURE SYSTEMS, INC. METHOW VALLEY EXCAVATING, INC.
/s/ Xxxxx X. Xxxxxxx /s/ Xxxxx Xxxxx
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Signature Signature
President President
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Title Title
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