EXHIBIT 4.5
Consulting Agreement
Parties: Spacetec IMC Corp and Xxxxxx X. Xxx
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Issue to be addressed: SIMC needs a CEO/Chairman to represent the company until
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the merger with Labtec is completed.
Consultant Function:
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a) Perform duties of CEO and Chairman of the Board of Directors.
b) Provide focal point for all BOD - related issues. Resolve and communicate
with Board and President/American Asset Management.
c) Represent SIMC on all matters with Xxxxx, Xxxxxxx and Xxxxxxxxx. Sign
necessary documents.
d) Conduct Shareholder Meeting and Board of Director meetings as required.
Period: From November 1, 1998 until the Labtec merger is completed or 2/28/99
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whichever comes first, or whichever other date is agreed by the parties.
Compensation:
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a) Cash compensation of $1,500 per day. Partial days to be prorated. Not to
exceed $30,000 per month.
b) Reimbursement for reasonable business expenses incurred in performance of
duties on behalf of SIMC.
