EMPLOYMENT AGIRIEMENT
Exhibit
4.4
THIS
EMPOYMENT AGREEMENT, entered into as of October ...7
..... , 2007, by and between:
A.
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the
Company styled "GEC GENESIS GROUP, LTD." of Majuro, Republic of the
Xxxxxxxx Islands (hereinafter referred to as 'PRINCIPAL"), duly
represented hereto by its authorized Director XXXXXX 0. XXXXX XX, pursuant
to corporate Resolutions adopted on an Extraordinary Meeting of its Board
of Directors held on .7
October 2007, and
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B.
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Xx.
XXXXXXXXX CARAYANNIS, Suite 293 487 East Main street, Mount Kisco, New
York, USA, (hereinafter referred to as
"EMPLOYEE")
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NOW
THEREFORE, in consideration of the covenants herein contained, the parties agree
as follows:
I.
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PRINCIPAL
offers to EMPLOYEE the position of Executive Director of the PRINCIPAL,
for a term of five (5) years.
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2.
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The
EMPLOYEE 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.
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3.
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The
PRINCIPAL will pay to the EMPLOYEE the amount of fifteen thousand
USDollars (US$ 15.000) on a monthly basis as remuneration for services
rendered.
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4.
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Asa
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 year divided equally amongst all Executive Directors of the
PRINCIPAL.
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5.
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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 equally
amongst all Executive Directors of the
PRINCIPAL.
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6.
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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
USDollars (US$ 5.000).
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7.
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The
monthly cash remuneration and the aforementioned level of expenses
paid, will become effective upon the conclusion of
a capital
raise of Two Million USDollars (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
Agreement otherwise
if above
will not occur, the present Employment Agreement
will become null and void with no further consequences for the
parties
hereto.
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8.
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Unless
the parties otherwise 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 hereinbelow:
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9.
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Even
though the word "employee" is used, compensation is to be in the form of
independant contractor status and the employer is NOT subject
to
any payroll tax deductions or requirements in
any
jurisdiction.
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PRINCIPAL
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EMPLOYEE
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GEO
GENESIS GROUP. LTD-
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XXXXXXXXX
XXXXXXXXXX
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In
000 Xxxx Xxxxxx,
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Xxx 00X Now York
-
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XX
00000 XXX
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Phone
:
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Phone
:
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Fax
:
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Fax
:
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IN WITNESS WHEREOF the parties
have executed this EMPLOYMENT AGREEMENT as of the day and year first above
written.
PRINCIPAL
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EMPLOYEE
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GEO
GENESIS GROUP. LTD-
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XXXXXXXXX
XXXXXXXXXX
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By:
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XXXXXX
X. XXXXX XX
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Vice-President/Treiusure/
Director
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Authorised
Attorney
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