EMPLOYMENT AGREEMENT
Exhibit
4.3
THIS
EMPOYMENT AGREEMENT, entered into as of
October 7, 2007,
by and between:
A.
|
the
Company styled "GEO
GENESIS
GROUP, LTD." of
Majuro,
Republic of the Xxxxxxxx Islands (hereinafter referred to as
"PRINCIPAL"),
duly
represented hereto by its authorized Director
XXXXXX
X. XXXXX
XX, pursuant to corporate Resolutions adopted on
an Extraordinary Meeting of its Board of Directors held on
.7. October
2007, and
|
B.
|
Mr.
PHILIP XXXXX XXXXXX XXXXXX III, 000 Xxxx Xxxxxx, Xxx 00X, Xxx Xxxx,
XX 00000, XXX, (hereinafter referred to as
"EMPLOYEE')
|
NOW THEREFORE, in consideration of
the
covenants herein contained, the parties agree as
follows:
1.
|
PRINCIPAL offers
to EMPLOYEE the
position of Executive
Director
of the PRINCIPAL,
fur a term
of five
(5) years.
|
2.
|
The
IMPLOYEE
will conduct the
management of the PRINCIPAL
on a
global
basis and
will execute
the
PRINCIPAL's
global business strategy as
set forth by the Board of Directors of the
PRINCIPAL and the
original business plan.
|
3.
|
The
PRINCIPAL will pay to the EMPLOYEE the amount
of fifteen thousand USDollars (US$
15.000) on a monthly basis an
remuneration fur
services rendered.
|
4.
|
As a
further consideration for the position of Executive Director, the
EMPLOYEE will
receive a Cash
Bonus of 10%
of
the PRINCIPAL's consolidated
net profit first
yrar divided equally amongst all Executive Directors
of the PRINCIPAL
|
5.
|
The
EMPLOYEE has the right to be allocated between
45% to 60% of
Xxxxxxxx shares from the
PRINCIPAL'S
related transactional clients/star up companies, above allocation
divided squally
amongst
all Executive Directors of the
PRINCIPAL.
|
6.
|
The
EMPLOYEE will be entitled to spend up to seventy
five thousand USD011ars
(US$ 75.000) for
Travel and Entertainment expenses, subject to original receipts
related to the PRINCIPAL's business
only. All
the Executive Directors of the PRINCIPAL shall have the
responsibility to unanimously approve requests
for
all
expenses/disbursements
exceeding five thousand
USDallans (US$ s.000).
|
7. | The monthly cash remuneration and the aforementioned level of expenses paid, will become effective upon the conclusion of a capital raise of Two Million USDoliars (US$ 2.000.000) or the liquidation of certain private equity holdings equaling the aforesaid amount, whichever event comes first, all above by the PRINCIPAL, therefore above events constitute a Condition Precedent for the validity and effectively of the present Employment Aweement otherwise if above will not occur, the present Employment Agreement will become null and void with no further consequences for the parties hereto |
8.
|
Unless the
parties othenvise notify each other in writing of changes of
address, all
notices herein shall be deemed served if hand delivered or sent by fax or
express courier or registered mail to PRINCIPAL
and EMPLOYEE at
their respective addresses herein
below;
|
9.
|
Even
though the word "employee" is used, compensation is to be in the form of
independent contractor status and the ampler/et is NOT subject to any
payroll
tax deductions or requirements in any
jurisdiction.
|
PRINCIPAL
|
EMPLOYEE
|
||
GEO
GENESIS GROUP. LTD-
|
XXXXX
XXXXXXXX
|
||
In
000 Xxxx Xxxxxx,
|
|||
Xxx 00X Now York
-
|
|||
XX
00000 XXX
|
|||
Phone
: (
|
Phone
:
|
||
Fax
:
|
Fax
:
|
IN WITNESS WHEREOF the parties
have executed this EMPLOYMENT AGREEMENT as of the day and year first above
written.
PRINCIPAL
|
EMPLOYEE
|
||
GEO
GENESIS GROUP. LTD-
|
XXXXX
XXXXXXXX
|
By:
|
|||
XXXXXX
X. XXXXX XX
|
|||
Vice-President/Treiusure/
Director
|
|||
Authorised
Attorney
|