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Document Preview Officer Engagement Agreement |
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Title: |
Officer Engagement Agreement |
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Entities: |
iQ Power Technology Inc.; Power Technology, Inc.; Marco Graf Von Matuschka |
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Date: |
2003 |
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Size: |
Preview shows 6KB of 17KB total |
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Price: |
$32 |
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ID: |
#161401 |
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OFFICER ENGAGEMENT AGREEMENT
| From: | iQ POWER TECHNOLOGY INC. (the "Company") |
| At: | In care of its registered office at Suite 708, 1111 West Hastings Street Vancouver, BC, Canada V6E 2J3 |
| To: | MARCO GRAF VON MATUSCHKA (the "Officer") |
| At: | Waakirchner Str. 40, 81379 Munchen, Germany |
IN CONSIDERATION for the mutual promises and covenants and the terms and conditions set out in Sections 1 through 8 attached, the Company hereby offers and the Officer hereby accepts engagement with the Company upon the terms and conditions set forth herein:
| Position | Chief Financial Officer |
| Responsibilities: | As described in Schedule A. |
| Term of Agreement: | November 14, 2002, through March 31, 2003. |
| Compensation: | The Company shall pay the Officer US$3,000 per month as consideration for the services of the Officer hereunder, payable on the last business day of each month during the term of this Agreement, one-half of which shall be paid by the delivery to the Officer of 3,333 common shares of the Company (the "Shares') at a deemed issue price per share of US $0.45. The first monthly payment shall be on a pro rata basis for a period of one-half month. |
| Governing Jurisdiction: | Canada. |
| Jurisdiction: | The Court at the domicile of the Company is exclusively competent to hear any disputes resulting from or in the context of this contract. |
| Signing Bonus: | In recognition of the agreement of the Officer to accept the position of Chief Financial Officer of the Company in accordance with the terms of this Agreement and his services to the Company to date, the Company hereby awards the Consultant and agrees to pay an immediate bonus of US$10,000 following execution of this Agreement. |
Executed and delivered by and on behalf of the Company and the Officer at Unterhaching, Germany, effective the date and year first above written.
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