Preview | Employment Agreement |

THIS EMPLOYMENT AGREEMENT ("Agreement") is made by and between Friendlyway Corp., a duly organized Nevada corporation (Employer), and Adam Self, a resident of the State of California (Employee).

WHEREAS, Employer is in need of persons with experience at the executive level in developing, organizing and managing IT strategies including product hardware and software in the telecommunications industry; and

WHEREAS, Employee is willing to be employed by Employer, and Employer is willing to employ Employee, on the terms, covenants and conditions hereinafter set forth; and

WHEREAS, Employer and its affiliates have accumulated valuable and confidential information, including, without limitation, trade secrets and know-how relating to technology, equipment, marketing plans, acquisition plans, sources of supply, business strategies and other business records; and

WHEREAS, the giving of the covenants contained herein is a condition precedent to the employment of Employee by Employer and Employee acknowledges that the execution of this Agreement and the entering into of these covenants is an express condition of his employment by Employer and that said covenants are given in consideration for such employment and the other benefits conferred upon him by this Agreement; and

NOW, THEREFORE, in consideration of such employment and other valuable consideration, the receipt and adequacy of which is hereby acknowledged, Employer and Employee hereby agree as follows:

Employer hereby employs, engages and hires Employee as Chief Information Officer, and Employee hereby accepts and agrees to such hiring, engagement and employment, subject to the direct supervision and direction of the President and CEO of Employer, as well as the general supervision of the Board of Directors of Employer. Employee shall perform duties as are customarily performed by one holding such position in other, same or similar businesses or enterprises as that engaged in by Employer, and shall also additionally render such other and unrelated services and duties as may be assigned to him from time to time by Employer.

Employee hereby agrees that he will, at all times, faithfully, industriously and to the best of his ability, experience and talents, perform all of the duties that may be required of and from him pursuant to the express and implicit terms hereof, to the reasonable satisfaction of Employer.

Salary. Employee shall be paid a salary of $100,000 per year, which salary shall be payable in equal installments on the 1st and 15th days of each calendar month, in arrears, subject to deduction of all lawful and required withholding. Employer may, in its sole discretion, for any payment period hereunder, elect to pay up to 100% of Employees salary in shares of Employers $.0001 par value Common Stock. Any such shares issued to Employee shall be valued as follows: each share of Employer Common Stock shall be issued at a per share price identified by the company on the first of each month. The compensation due Employee shall be divided by the per share value of Employers Common Stock, as determined by the foregoing, to determine the number of shares owed Employee.

Insurance and Other Benefits. As further consideration for the covenants contained herein, Employer will provide Employee with such insurance, welfare, sick leave and other benefits as may be established by Employer from time to time with respect to its employees in accordance with Employers established procedures.

C.	Other Compensation Plans. Employee shall be entitled to participate, to the same extent as is provided to other persons employed by Employer, in any future stock bonus plan, stock option plan or employee stock ownership plan of Employer.

Expenses. It is acknowledged that, during the term of employment, Employee will be required to incur ordinary and necessary business expenses on behalf of Employer in connection with the performance of his duties hereunder. Employer shall reimburse Employee promptly the amount of all such expenses upon presentation of itemized vouchers or other evidence of those expenditures. Any single expense item in excess of $1,000.00 shall be approved by Employer prior to the incurrence of such expense.