Exhibit 10.1
Business Consultant Contract
This agreement dated December 31, 2001 is made By and Between Loafer Peak, LLC
whose address is ▇▇▇ ▇. ▇▇▇ ▇▇., ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ referred to as
"Consultant", AND Electric Aquagencis Unlimited, Inc. (EAU) whose address is
▇▇▇▇ ▇. ▇▇ ▇., ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ referred to as "Company."
1. Consultation Services. The company hereby employs the consultant to perform
the following services in accordance with the terms and conditions set forth in
this agreement: The consultant will consult with the officers and employees of
the company concerning matters relating to the management and organization of
the company, their public relations, financial policies and strategies,
marketing and growth plans and policies, testing and regulatory issues regarding
the Company's products, patents, licenses and other related issues and the terms
and conditions of employment, and generally any matter arising out of the
business affairs of the company.
2. Terms of Agreement. This agreement will begin December 31, 2001 and will end
December 31, 2002, or until otherwise terminated as herein set forth. Either
party may cancel this agreement on thirty (30) days notice to the other party in
writing, by certified mail or personal delivery.
3. Time Devoted by Consultant. It is anticipated the consultant will spend
approximately 70% of its time in fulfilling its obligations under this contract.
The particular amount of time may vary from day to day or week to week. However,
the consultant shall devote a minimum of 112 hours per month to its duties in
accordance with this agreement.
4. Place Where Services Will Be Rendered. The consultant will perform most
services in accordance with this contract at the Company's offices or at the
Consultants place of business. In addition the consultant will perform services
on the telephone and at such other places as designated by the company to
perform these services in accordance with this agreement.
5. Payment to Consultant. The consultant will be paid at the rate of $5,000.00
per month for work performed in accordance with this agreement. The consultant
will submit an itemized statement setting forth the time spent and services
rendered, and the company will pay the consultant the amounts due as indicated
by statements submitted by the consultant within ten (10) days of receipt.
6. Independent Contractor. Both the company and the consultant agree that the
consultant will act as an independent contractor in the performance of its
duties under this contract. Accordingly, the consultant shall be responsible for
payment of all taxes including Federal, State and local taxes arising out of the
consultant's activities in accordance with this contract, including by way of
illustration but not limitation, Federal and State income tax, Social Security
tax, Unemployment Insurance taxes, and any other taxes or business license fee
as required.
7. Confidential Information. The consultant agrees that any information received
by the consultant during any furtherance of the consultant's obligations in
accordance with this contract, which concerns the personal, financial or other
affairs of the company will be treated by the consultant in full confidence and
will not be revealed to any other persons, firms or organizations.
8. Employment of Others. The company may from time to time request that the
consultant arrange for the services of others. All costs to the consultant for
those services will be paid by the company but in no event shall the consultant
employ others without the prior authorization of the company.
9. Signatures. Both the company and the consultant agree to the above contract.
Witnessed by:
COMPANY
Electric Aquagenics Unlimited, Inc.
By:
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CONSULTANT
Loafer Peak, LLC
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Member
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