Exhibit 10.8
Global Gold Mining, LLC
00 Xxxx Xxxxxx Xxxxxx x Xxxxxxxxx, XX 00000
Tel: 000.000.0000 o Fax: 000.000.0000
Xxxxxxxx 0/0 x Xxxxxxx, Xxxxxxx 000000
Tel: 0000.00.00.00 o Fax: 0000.00.00.00
September 29, 2006
Xx. Xxxxx Xxxxxxxx
Yerevan, Armenia
Dear Simon:
This letter agreement memorializes your resignation effective September
30, 2006 as Director of Exploration and Mining of Global Gold Mining, LLC
pursuant to your August 1, 2005 Employment Agreement, as amended August 1, 2006.
According to your August 1, 2005 restricted stock award, 15,000 of the total
45,000 shares of Global Gold Corporation have vested; according to your December
29, 2005 restricted stock award, none of the 10,000 shares awarded have vested.
Please return the certificates representing those awards, and the transfer agent
will be requested to issue you a new certificate for the 15,000 shares which
have vested.
Effective October 1, 2006, you will be employed as "Senior Geologist
for Exploration," available for up to five working days per month, or as
mutually agreed. Your compensation will be based on actual days worked and will
be at the rate of $600 (USD) per day. Global Gold Mining shall pay income,
social security and other employment related taxes imposed by Armenian law, and
you will be subject to the employment terms and conditions applicable to the
general staff.
Sincerely,
Van X. Xxxxxxxxx,
Manager
Acknowledged and Agreed
Xxxxx Xxxxxxxx
