This Consulting Services Agreement involves
Title: CONSULTING CONTRACT
4th of August, 2008
Simonov Stepan, hereinafter referred to as the "Contractor", from one party, and
the company Planet Resources Corp, represented by the Director Deshin Alexander,
hereinafter referred to as the "Customer", from the other party, have concluded
this Consulting Contract hereinafter referred to as the "Contract" on the
1. SUBJECT OF THE CONTRACT
1.1. The Customer assigns and the Contractor undertakes to provide research
aimed at locating mining sites with tailings or refuse of mining and processing
industry (technogenic deposits) and determination of possibilities and prospects
of extracting fine, extra-fine and fine-dispersed gold from such sites.
2. TERRITORY OF RESEARCH
2.1. Research shall be carried out in the territory of the Russian Federation.
3. CONSULTING TASKS
3.1. Consulting tasks (the "Consulting") shall be carried out accordingly:
3.1.1. Locating prospective business subject(s) with special permits for use of
subterranean resources activity within the boundaries of their sites for the
purpose of minerals mining.
3.1.2. Selecting site(s), with available tailings or refuse of mining and
processing industry that contain economic concentration of gold with minimum
potential gold content of 200kg.
3.1.3. Taking samples and performing tests with view of estimating content and
concentration of fine, extra-fine and fine-dispersed gold in refuse of mining
and processing industry (technogenic deposits).
3.1.4. Providing a complete cost schedule in connection with the extraction of
fine gold from the selected site(s) and transportation to the point of sale.
3.1.5. Obtaining agreement for each mining site, whereby the licensee will allow
Planet Resources, Inc. or their whole owned subsidiary to extract fine gold from
licensee's mining site. The extracted gold will remain in possession of the
license holder in return for payment equal to market price of gold at the time
of extraction less 20% discount).
4. DUTIES OF THE CONTRACTOR
4.1. The Contractor shall:
4.1.1. Begin the research within 30 days after the written assignment by the
4.1.2. Upon completion of Consulting, present the research documents and any
executed agreements (the "Research Results") to the Customer.
4.1.3. Attach a detailed and complete report on all the issues pertinent to the
4.1.4. Ensure complete confidentiality of the information received from the
Customer if third parties are involved in the research.
4.2. Within 90 days after completion of the Consulting, specified by this
Contract and signing the Statement of transfer of Research Results the
Contractor shall provide Research Results regarding the Consulting referred to
in the part 3 of the Contract.
5. DUTIES OF THE CUSTOMER
5.1. The Customer shall:
5.1.1. Provide the Contractor with written assignment 30 days prior to
commencement of the Consulting.
5.1.2. Upon the Contractor's request, provide the latter with all the available
information necessary for efficient research.
5.1.3. Accept the Research Results and pay the Contractor.
6. PROCEDURES OF CARRYING OUT THE CONSULTING AND TRANSFERRING THE RESULTS
6.1. The Contractor shall independently manage the Consulting.
6.2. The Contractor shall