EXHIBIT 4.5
Consulting Agreement
Parties: Spacetec IMC Corp and Xxxxxx X. Xxx
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Issue to be addressed: SIMC needs to make revenue targets for Q2. Several
distracting factors may keep top management from concentrating on this goal
(Sun Capital, CFO missing/recruitment, issues listed in BOD presentation
regarding shortfall in Q1)
Consultant Function:
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a) provide focal point for all BOD-related issues. Resolve and communicate
with Board and President/COO.
b) Provide back-up management to enable Pres/COO to place heavy emphasis on
Sales activities.
c) Support Gain and Xxxxxxxx on any projects to free Pres/COO to place heavy
emphasis on Sales activities.
Responsibility/Authority:
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a) President/COO retains decision making and personnel management authority for
SIMC.
b) Consultant will work using the general form of the standard SIMC consulting
agreement.
c) Consultant will have office in Boott Mill and be on-site a majority of days,
and will be available telephonically on other days.
Period: Until Sun Capital is completed or 9/30/98 or whichever other date is
agreed by the parties.
Compensation:
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a) Expenses of rental car, apartment or condo in good location, travel to
Florida for 2 twice per month, reasonable miscellaneous living costs.
b) Cash compensation of $1,500 per day being $30,000 per month, pro-rated if
completed before 9/30/98.
