sedar.com/GetFile.do?lang=EN&docClass=10&issuerNo=00037702&issuerType=03&projectNo=03144799&docId=4845671
Mr. Moore’s services are provided pursuant to an employment agreement with the Company dated effective August 13, 2020 (the “Moore Employment Agreement”). Pursuant to the Moore Employment Agreement, Mr. Moore provides his services as Chief Executive Officer of the Company and the Company pays Mr. Moore a base salary of $25,000 per month (the “Base Salary”) and a quarterly bonus equal to 250,000 Common Shares with the value of such shares being determined by the stock price of the Company on the last day of the fiscal quarter less any allowable deduction to current market rates (collectively the “Base Remuneration”). Pursuant to the Moore Employment Agreement, Mr. Moore is also entitled to be paid an annual bonus (the “Annual Bonus”), if any, to be determined by the Company’s board of directors. The Annual Bonus shall be based upon the Company and Mr. Moore meeting key criteria each year, as mutually agreed between Mr. Moore and the Company, and the Annual Bonus in each year shall be equal to 100% of the Base Salary and if the Company is profitable, a bonus equal to 3% of the Company’s net profits. The Annual Bonus is payable in cash, Common Shares or combination thereof. Under the Moore Employment Agreement, Mr. Moore is also entitled to be paid a bonus (the “Capital Raising Bonus”) if Mr. Moore is responsible for and successful in raising capital for the Company equal to 3% of the number of shares issued as a result of such efforts payable on a monthly basis. The Company also reimburses Mr. Moore for any reasonable travelling, and other direct expenses, office and cell phone expenses incurred by Mr. Moore in connection with his services, including a maximum of $1,000 per month for health care costs, and a monthly vehicle allowance not to exceed $1,500 per month, or as applicable, to the cost of leasing a vehicle, or as a $18,000 annual allowance indexed to increase 10% annually over the term of the agreement, as well as 45 business days of vacation. Moore was also to be issued 10,000,000 shares within 60 days of the executives of the Moore Employment Agreement. |