Exhibit
10.1
GREENMAN
TECHNOLOGIES
CONSULTING
AGREEMENT
This Consulting
Agreement is made and entered into this 18th day of November 2008,
by and between Coastal International, Inc.
(“Consultant”), and GreenMan Technologies
(“GMTI” or the “Company”).
1.
Consultant Services. Consultant hereby
agrees to perform and provide consulting services for the Company
on a monthly basis for a period of four months commencing upon the
execution of this agreement and ending March 17, 2009 unless
extended upon mutual agreement. Consultant will perform the
services with the assistance and full participation of Mr. Lew Boyd
and his associates. The services will include, but not
be limited to, the following (the
“Services”):
(a) Provide and/or
identify due diligence support as the Company’s management
explores commercial opportunities in the areas of green products
and services and alternative energy and renewable fuels.
(b) Work with Company
management to broaden GMTI’s overall presence and footprint
in the “green” marketplace by introducing the Company
to the Consultant’s wide network of contact points with the
financial community, industry groups, government agencies and
relevant academic centers of excellence. This will include due
diligence meetings in select cities, at GMTI’s
request
(c) Interface with the
“green” community on behalf of the Company, and work to
generate interest in the Company in this setting.
(d) Work with the
Company’s management to formulate and refine its mission
statement as it relates to green opportunities including
alternative energy and renewable fuels
(e) Assist in
formulating the selection criteria to be used in identifying and
qualifying potential candidates for the Company’s Board of
Directors. Also, assist in the selection and interview process of
potential future candidates.
(f) Provide other
services as requested by the Company’s management and/or
Board of Directors that can be reasonably expected to be
accomplished.
2.
Payment. Subject to the provisions of the
Agreement, the Company shall pay Consultant the following as full
compensation for the Services for the term hereof:
(a) Cash
–In return for the services rendered, the Consultant shall be
compensated by a monthly payment of $7,500 in arrears commencing
November 19, 2008 and ending March 18, 2009.
3.
Project Expenses . The Company shall pay
Consultant project fees for special events and materials as
mutually agreed upon and such fees to be approved in
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