EXHIBIT 10.2
Services Contract for Consulting and Investments
Reunited
On the one side:
Mr Xxxxxxxx Xxxxx Xxxx xxx Xxxxxxxx ID: X0977758M
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Domiciled in Postal Code Municipality
Xxx. Xxxxx Xxxxxxxxx Xxxx Xxx Xxxxxxx 00000 Marbella
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Who intervenes in name and representation of :
Company ID:
Teleconnect Comunicaciones S.A. A 82192097
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Domiciled in Postal Code Municipality
Avda Xxxxxx Xxxxx, N 28, 9th floor 29600 Marbella
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In virtue of the faculties empowered in him via the public deeed signed before
the Notary of Madrid D. Xxx Xxxxx Xxxxxxxx Sanchin, with date of March 11, 2003
and with number 727
And on the other side;
Mr Yves Horoit ID X1182796K
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Domiciled in Postal Code Municipality
C/Jabal N 12 Urb Los Monteros 29600 Marbella
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Intervenes in his own name and representation:
EXPOSE:
1. That it is in the Interest of "Teleconnect Comunicaciones S.A." to
contract the services of the professional Mr. Yves Horoit as an
individual physical person (and not in name of a company)
2. In harmony with the nature of this document and to facilitate in the
most easy and brief its expression, the following terms are
established;
Teleconnect Comunicaciones S.A. will be referred to as Teleconnect
Given the above mentioned, both parties subscribe to this contract for the use
of the professional services, agreeing freely and by mutual consent the
following:
CLAUSES:
FIRST: Objective of the contract
Teleconnect trusts to D Yves Horoit the consulting associated with the
investments and relations associated with investors
SECOND: Regulations regarding the services to be rendered
Mr. Yves Horoit will offer the following services:
1. Analysis of the market information available at Teleconnect
2. Recommendations with respect to the strategy to follow as a Telephony
Carrier (Operator)
3. Relationships with potential investors and related actions to this
end.
THIRD: Mr. Horoit is obliged to Teleconnect to guarantee at all times the
security, secrets and total protection of all data and documentation subject of
this contract
In the same way. Mr. Horoit must keep safe and private all publicity and
information related material property of Teleconnect which has been given to him
in confidence directly or indirectly during the validity of this contract,
returning it all to Teleconnect at the end of the contract term.
FOURTH
Mr. Yves Horoit must search and obtain Teleconnect's approval prior to embarking
on any proposed project
If Mr. Yves Horoit does not render the services committed to, or should he carry
them out outside the rules and limitations establish herein, or acts contrary to
the effective legislation of the subject mater, Teleconnect may cancel the
contract.
FIFTH
Mr. Yves Horoit commits to work exclusively for Teleconnect during the validity
period of this contract
SIXTH
The economic conditions which rule the relationship between Mr. Yves Horoit and
Teleconnect are:
FIVE THOUSAND EUROS (5.000 - ) fixed monthly, plus a variable which consists of
trips expenses and other costs associated to his function of representation of
the Company
In order to facilitate the payment of these amounts, Mr. Horoit will issue an
invoice (adding on the corresponding VAT tax and % percentage applicable of
retention for IRPF - personal income tax) The payment of each invoice will be
due 30 days from its reception.
SEVENTH In the case of non-compliance with the contract conditions, either
party may cancel the contract before it expiry date whereby the party which
caused the non-compliance would bear the responsibility of all associated costs
of the breach of contract.
EIGTH: This contract is valid from April 1, 2003 and will continue for one
year.
NINTH: The validity, execution, interpretation of this contract, is subject to
Spanish legislation, and the parties agree to submit themselves to the normal
jurisdiction of the tribunals of the City of Malaga
In the same way, both parties agree to respect the decision of any tribunal
As proof of conformity, both parties sign two original copies and initial each
page, at the time and place identified.
Teleconnect Comunicaciones S.A
By:/s/D. Xxxxxxxx Xxxxx Xxxx Xxx Xxxxxxxx /s/ D. Yves Horoit
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D, Xxxxxxxx Xxxxx Xxxx Xxx Xxxxxxxx D. Yves Horoit
