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Employment Agreement

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Title:

Employment Agreement

Entities:

Metalex Resources Inc.

Date:

2006

Size:

22KB total

Price:

$36

ID:

#2172660

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EMPLOYMENT AGREEMENT

THIS AGREEMENT dated the 1st day of June, 2006

BETWEEN:

RANCHER ENERGY CORP., a company incorporated under the laws of the State of Nevada, having an office address of 1811 East 17^th Avenue, Spokane, Washington, USA, 99203

(hereinafter referred to as the Company)

OF THE FIRST PART

AND:

JOHN WORKS, Businessman, having an address of 3445 South Columbine Circle, Englewood, Colorado, USA, 80113

(hereinafter referred to as the Employee)

OF THE SECOND PART

WHEREAS:

The Employee has expertise in the area of developing, arranging financing and managing energy projects and companies and the Company desires to employ the Employee as its President, Chief Executive Officer and an Executive Director to attend to such business and to perform duties as more particularly described herein;

B.	The Company and the Employee are of the view that it is in the best interest of each of the parties to have the Employee enter into this Agreement and to have the Employee devote his full time and attention to the business of the Company;

C.	The parties desire to set out in writing the terms on which the Employee will perform services for the Company.

NOW THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration of the premises and the mutual promises, conditions, representations, warranties and agreements herein contained, the parties hereto agree as follows:

1.	Duties and Responsibilities

1.01 The Company hereby engages and retains the Employee as its President, Chief Executive Officer and an Executive Director to perform duties and assignments relating to the business of the Company or its affiliates as may be assigned to him by the Board of Directors of the Company (the

"Board") from time to time, or by the Chairman or other designee, if so empowered by the Board. The Employee shall have the authority and responsibility over the day-to-day operations of the Company and such other rights and responsibilities as shall be consistent with his position (collectively referred to as the Services). The Employee agrees that he will devote his full employment energies, interest, abilities and time to the performance of his employment obligations with the Company and that he will not, without the written consent of the Company, render to other any service of any kind for compensation, and will not engage in any activity that conflicts or interferes with the performance of any employment duties with the Company.

1.02 The Employee shall be authorized to incur corporate expenditures in connection with his duties under this Agreement in the ordinary course of business provided that such expenditures do not exceed Thirty Thousand $30,000) per month and, in the event funds over Thirty Thousand ($30,000) require to be expended, the Employee will consult the Companys Board of Directors for approval prior to any disbursement of monies.

1.03 The Consultant will perform the Services in accordance with this Agreement at Suite 1050, 17^th Street, Denver, Colorado, USA, 80265 or such other address that is acceptable to both parties. In addition, the Consultant will perform the Services on the telephone, via e-mail or other communication device, and at such other places as designated by the Company in accordance with this Agreement.

Term

Subject to the terms of this Agreement, the Employee shall perform the Services for a period of Two (2) years (the Term) commencing on the date of execution of this Agreement (the Effective Date) provided however, that this Agreement shall be renewed automatically for additional Two (2) year periods on the anniversary date of the Second (2nd) year (the Additional Term) unless:

(a)	prior to the commencement of the Additional Terms, one of the parties gives the other party Thirty (30) days written notice that such party desires to terminate this Agreement; or

(b)	the parties have been unable to agree upon a mutually-acceptable Fee for such Additional Terms.

3.	Remuneration

3.01 For providing the Services to the Company during the Term, the Employee shall receive a fee of Twelve Thousand, Five Hundred Dollars ($12,500) per month (the Fee) commencing on the Effective Date. The Fee will be issued to the Employee on the first day of each month the Agreement is in effect. The Employee will be responsible for remitting all withholding tax from his compensation as may be required by United States and Canadian (as applicable) federal, provincial, state, and local tax laws.

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