Ozoloutions, Inc Management Agreement
Ozoloutions,
Inc
Dear
Xxx.
Xxxxxxx:
The
following consulting Agreement between Ozolutions, Inc. (The Company or OI)
and
Xxxxxxx XxXxxx Inc. or HMI outlines the terms under which Xxxxx Xxxxxxx will
perform the consulting services for the company.
1. Service:
Chairman
&
CEO
Xxxxx
Xxxxxxx will perform consulting services as directed by the board of directors
as defined here and in section five below.
2. Term:
The
contract shall be for a term of sixty months (five years) commencing on the
1st day of
October 2004.
3. Compensation:
|
a)
|
Fee
of $US 220,000 annually, to be invoiced to the Company at the rate
of $
18,333.33 monthly. The Board of Directors will review this fee from
time
to time.
|
|
b)
|
HMI
and or Xxxxx Xxxxxxx will be granted $50,000 signing
bonus.
|
|
c)
|
Entitlement
to a bonus of up to 50% of annual fee if and when granted by the
Board of
Directors subject to the achievement of annual performance criteria
as
approved by the Board.
|
|
d)
|
HMI
will invoice the company monthly for Xxx. Xxxxxxx’x out of pocket expenses
such as travel, meals and entertainment and other such expenses related
to
the execution of his duties, including $1,000 per month as an automobile
allowance.
|
1
4. Non
competition:
The
Contract will contain the usual provision prohibiting you from competing with
the company for a period of two (2) years from the expiry or termination of
your
services.
5. Duties:
Your
duties shall include:
|
·
|
Execute
the company business plan and implement controls and procedures to
insure
structured company growth.
|
|
·
|
Identify
and perform due diligence of potential merger and acquisitions targets
for
Board of Directors review. Execute approved transactions as directed
and
integrate the new businesses into the company business
plan
|
|
·
|
Develop
customer relations and awareness of the
OI
|
|
·
|
Develop
and Maintain government public relations
|
|
·
|
Any
other duties as determined by the Board of
Directors
|
6. Termination
for any reason:
The
Company shall have the right to terminate your contract at any time with a
payment of twice the outstanding fee remaining on the term of the contract
at
the time of termination, plus a cash settlement of $1,000,000. The fee payments
will be in the form of cash.
7. Termination
by consultant:
The
consultant shall provide a minimum of two (2) months notice prior to termination
of the contract.
Please
sign this letter below to indicate your agreement with the above
terms.
Yours
truly,
Max
Weissengruber
President
Ozolutions
Inc.
Agreed
this 1st day of October 2004.
_____________________________
Xxxxxxx
XxXxxx Inc.
2
