Looking for an agreement? Search from over 1 million agreements now.

Consultant Agreement (vega)

This is an actual contract by CAN Cal Resources.

Save time and money with our Premium Packages.
Buy all (8) recommended agreements for
$140.00 (50% savings)
Agreement Preview
Sectors: Metals and Mining
Governing Law: Nevada, View Nevada State Laws
Effective Date: April 17, 2003
Related Agreement Types:
Search This Document
EXHIBIT 10.2


CONSULTING AGREEMENT


THIS MANAGEMENT CONSULTING AGREEMENT (the "Agreement") is made and entered into as of April 17, 2003 (the "Effective Date"), between Can-Cal Resources, Ltd., a Nevada Corporation (the "Company"), whose principal place of business is 8222 Cretan Blue Lane, Las Vegas, Nevada, and Luis A. Vega, an individual (the "Consultant"), whose address is 755 Ridgecrest, Kingman, Arizona 86401.


R E C I T A L S


A. The Company is engaged in the exploration and development of mineral resource properties.


B. The Consultant wishes to provide geological consulting services ("Services") to the Company, and the Company wishes to hire the Consultant, subject to the terms and conditions of this Agreement.


C. The Consultant, by virtue of his involvement with the Company, will become familiar with and possessed with the manner, methods, trade secrets and other confidential information pertaining to the Company's Business.


NOW, THEREFORE, in consideration of the mutual agreements herein made, and the exchange of good and valuable consideration, the exchange and receipt of which hereby is acknowledged by all parties, the Company and the Consultant do hereby agree, as follows:


1. RECITALS. The above recitals are true, correct and are herein
incorporated by reference.


EMPLOYMENT. The Consultant is hereby employed to provide Services to the Company in the capacity of Senior Consulting Geologist ("Employment"). The Consultant hereby accepts such Employment, upon the terms and conditions hereinafter set forth, and agrees to make his Services available to the Company for five days per month, at a minimum, unless otherwise mutually agreed by the parties.


DURATION. The Employment shall be deemed to have commenced on the Effective Date and shall continue until either party terminates the Agreement, by providing the other party with 30-days advance written notice of termination.


DUTIES DURING EMPLOYMENT PERIOD. The Consultant will perform his Services to the best of his ability giving the Company the full benefit of his knowledge, expertise and technical skill.


2


FEES AND OTHER BENEFITS.


(a) CONSULTING FEE. The Consultant shall be paid a Consulting Fee (the "Fee"), payable at a rate of $500 per day of Service, based on the Consultant's submission of a supporting invoice detailing the nature of the Services provided and related time commitments. It is agreed that the Fee shall be payable in restricted common shares ("Shares") of the Company. The number of Shares to be issued in satisfaction of the Fee shall be determined by dividing the Fee by the average closing price of the company's common stock, as quoted on the Over-The-Counter Bulletin Board ("OTCBB"), applicable to the dates for which Services were provided. Any fractional Share resulting from the calculation shall be rounded up.


(b) BUSINESS EXPENSE REIMBURSEMENT. The Consultant shall be timely reimbursed for all business-related travel and entertainment expenses, as well as business-related out-of-pocket expenses, incurred directly in the performance of his Services, provided he reports same with proper receipts.


(c) FINDER'S FEE. If the Consultant presents a mineral property available for acquisition to the Company, and if the Company acquires said mineral property, the Consultant shall be entitled to receive, as a Finder's Fee, a 1% Net Smelter Return Royalty ("NSR") on any future sales of mineral products from said mineral property by the Company. The Consultant shall neither be entitled to receive a Fee for any time commitments, nor shall he be entitled to be reimbursed for any expenses, related to the investigation of any mineral property available for acquisition prior to the Consultant presenting said mineral property to the Company, unless said time commitments and expenses are authorized, in advance and in writing, by the Company. This Finder's Fee clause shall be further governed by the Finder's Fee Agreement entered into by the Company and the Consultant.


(d) SHARES. The Company shall grant to the Consultant, as of the Effective Date, an option to purchase 100,000 shares of Common Stock of the Company, priced at the average closing price of the Company's Common Stock, as quoted on the OTCBB, for the five trading days prior to the Effective Date. The option shall fully vest on the one-year anniversary of this Agreement, assuming the Agreement has not been terminated prior thereto, in which case the option shall be forfeited. The option shall have a three-year term from the Effective Date of this Agreement


6. Duties upon Termination. Upon the termination of this Agreement, for whatever reason and howsoever arising or effected, the Consultant shall forthwith (and in any event not later than fourteen (14) days after such termination):


Deliver up to the Company all documents, statistics, accounts, memoranda, papers, records and other items of whatsoever nature or description which may be in his possession or control and relate in any way to the business or affairs of the Company and no such documents or other items, nor any part of copy thereof, shall be retained by him


Resign from any office or appointment held by him with the Company and transfer any share registered in his name as nominee for the Company and should he fail to do so, the Company is hereby irrevocably authorized in his name and on his behalf to sign and deliver every such resignation and transfer


3


7. NON-DISCLOSURE OF CONFIDENTIAL INFORMATION.


a. The Consultant shall not at any time, either during or after the termination of this Agreement:


(1) Disclose to any person not employed by the Company or any person not engaged to render services to the Company (except with the prior written consent of a majority of the members of the Board or an officer duly authorized by the Board), any confidential information or trade secrets relating to the Company or any of its business activities obtained by the Consultant while employed by the Company if such disclosure would cause demonstrable injury, monetary
-- End of Preview --
Home| About Us| FAQ| Subscription | Contact Us |

Privacy Policy   Terms of Service  54.92.148.165