BINDING LETTER OF AGREEMENT - MARCH 1, 2005
EAPI ENTERTAINMENT, INC. (Name to be changed to Organic Recycling
Technologies Inc.)
AND
MILVERTON CAPITAL CORPORATION
Milverton Capital Corporation (the "Consultant") as a consultant to Organic
Recycling Technologies Inc. (name to be changed from EAPI Entertainment, Inc.)
(the "Company") agree as follows:
1) The Consultant and the Company agree that based upon the work need to
be completed within the Company, the Company agrees to trigger the
consultant a fee of CDN $835,000. This fee represents all work to date up
until March 31, 2005.
2) The Company and the consultants agree that a new binding contract is
to be prepared to effective April 1, 2005 going forward. This master
consulting contract will define all services.
3) The various consultants will continue to provide the administration,
records maintenance and support of Organic Recycling Technologies Inc. and
its various subsidiaries for review and approval by the management
executive committee and the Board of Directors;
4) The various consultants will continue to provide accounting work for
the company and ensure completion of the annual and quarterly filings for
review and by the management executive committee and the Board of
Directors;
5) The various consultants will continue to provide the individual and
team support and assistance with marketing and public relations for Organic
Recycling Technologies Inc. for review and approval by the management
executive committee and the Board of Directors;
6) The various consultants will continue to supply their talents and extensive
network of recycling, waste management, venture capitalist and finance
contacts and the marketing and public relations network developed over the
past years to Organic Recycling Technologies Inc.;
REQUIREMENTS:
A) Master Consulting contract with Organic Recycling Technologies Inc.
(Name to be changed from EAPI Entertainment, Inc.);
(i) Scope of work required for each consultant;
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(ii) Contract including a monthly fee;
(iii) Contract term recommended as 5 year contract;
(iv) Confidentiality and non-disclosure terms, that all information of
the Company is confidential and can not be disclosed without
corporate authorization;
IN WITNESS WEREOF the parties have agreed to the above letter of understanding
on the day and year first above written.
Agreed to by Milverton Capital Corporation:
/s/ Xxxx Xxxxxxxxxxx
_____________________________________
Authorized signature
March 1, 2005
_____________________________________
Date
Agreed to by EAPI Entertainment, Inc. (Name to be changed to Organic Recycling
Technologies Inc.):
/s/ Xxxxx Xxxxxxxx
_____________________________________
Authorized Signature
March 1, 2005
_____________________________________
Date
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