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Engagement Agreement

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Title:

Engagement Agreement

Entities:

Separate Account No 301 of AXA Equitable Life Insurance Co

Date:

2006

Size:

13KB total

Price:

$42

ID:

#2647060

► Fee Agreements ► Engagement Agreements

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ENGAGEMENT AGREEMENT

THIS AGREEMENT made as of the 1st day of November, 2006.

BETWEEN:

GLOBAL DEVELOPMENTS INC., a Nevada corporation having an office located at 510-999 W. Hastings St., Vancouver, BC, V6C 2W2

(the "Company")

OF THE FIRST PART

AND:

JULIUS BRINER, a businessperson

(the "Director")

OF THE SECOND PART

WHEREAS:

A. The Company is a publicly traded company developing junior companies.

B. The Company wishes to engage the Director on the terms and conditions of this Agreement.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the material promises and conditions contained in this Agreement, the Company and the Director agree as follows:

1. Engagement

The Company hereby engages the Director and the Director hereby accepts the engagement upon the terms and conditions hereinafter set forth.

2.	Period of Engagement

Subject to the provisions for termination as hereinafter provided, the term of the engagement shall be for an initial period of one year commencing on the effective date of this agreement and shall automatically renew thereafter for one (1) year periods with the mutual agreement of the parties (the "Period of Engagement"), unless the Company or the Director gives the other party 60 days written notice of non-renewal, in which case this Agreement will terminate.

3.	Services

The Director agrees to serve in the position and carry out the duties and responsibilities described in Schedule "A" and perform such other services as may be designated from time to time by the Company.

4.	Compensation

(a)

Fee

For all services rendered by the Director under this Agreement, the Company shall pay the Director a fee as outlined in Schedule A.

(b)

Incentives/Bonuses

In addition to the fee set forth above, the Director shall be compensated from time to time by the issuance of additional shares on a performance basis. Such compensation shall be on an irregular basis and shall be negotiated directly between the Company and the Director.

(c)

Expenses Reimbursement

The Company will reimburse the Director for the costs of all travel to meetings where attendance has been specifically requested by the Company.

5.	Benefits

If the Company applies for a benefit plan, the Company shall provide the Director with the right to participate in and to receive benefits from all insurance and all similar benefits made available generally to employees of the Company, as determined by the Board of Directors of the Company. Notwithstanding the foregoing provisions of this section, the amount and extent of any benefits to which the Director may be entitled shall be governed by the provisions of any employee benefit plans adopted by the Company, as amended from time to time.

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