EXHIBIT 6.11
Agreement for Xxx Xxxxxxx
President of Axion Spatial Imaging Inc.
President of Axion Spatial Imaging Ltd.
1. Effective Period
This agreement is in effect from June 1st, 1998. Salary increase
will be retroactive to June 1st, 1998 until funding from OTC has
been received. The funding is expected some time in June 1998.
2. Salary
The Minimum Salary will be $144,000.00 CND per year.
If Gross sales projections are met, salary increases by 10%. If
Gross sales projections are exceeded by 5%, salary increases by
15%.
3. Shares
Employee stock option of 200,000 shares at $1.00 USD granted,
option open for exercise for five years from June 1st, 1998.
4. Severance
On termination of employment, a minimum of two years salary will be
paid as severance compensation. If severance is without cause,
expiration period for options after termination will be extended to
full term.
5. Responsibilities
The primary responsibilities of the President are running the
operations of the two companies, reporting to the Directors and the
CEO. Secondary responsibilities are assisting the CEO with issues
relating to the public market and securities.
6. Approval
The Board of Directors, with Ian abstaining from voting has
approved this agreement.
The CEO, Xxxxxxx Xxxxxx, has approved this Agreement. Xxxxxxx
Xxxxxx has informed the new investment group of this agreement.
Date: 8 June 98
/s/ Milinusic, Tomislav /s/ Xxxxx Xxxxxxx
_________________________ _________________________
Tomislav Milinusic Xxxxx Xxxxxxx
Director Director
/s/ Xxxxxxx Xxxxxx /s/ Ias Xxxxxxx
_________________________ _________________________
Xxxxxxx Xxxxxx Xxx Xxxxxxx
CEO President
