MANAGEMENT CONSULTING
AGREEMENT
THIS AGREEMENT is made effective the
1st day of May, 2005.
BETWEEN:
DREW BONNELL, businessman, of 2320
Queens Avenue, West Vancouver, British Columbia V7V 2Y6
(the
“Consultant”)
AND:
EDEN ENERGY CORP., a Nevada company
having an office at Suite 1925 – 200 Burrard Street,
Vancouver, British Columbia, V6C 3L6
(the
“Company”)
WHEREAS:
A. The
Company is a United States reporting company under the US
Securities Exchange Act of 1934; and
B. The
Company wishes to engage the Consultant to provide, and the
Consultant has agreed to provide to the Company, certain management
services, on a part-time basis, as the Chief Financial Officer and
a Director for the Company.
NOW THEREFORE THIS AGREEMENT
WITNESSES that in consideration of the sum of $1.00 now paid by
each of the parties to the other and for other good and valuable
consideration (the receipt and sufficiency of which are hereby
acknowledged by both parties) and in consideration of the premises
and the mutual covenants and agreements set forth herein, the
parties hereto covenant and agree as follows:
ARTICLE 1
DEFINITIONS AND INTERPRETATIONS
Definitions
1.01 In
this Agreement, the following words and phrases, unless there is
something in the context inconsistent therewith, shall have the
following meanings:
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(a)
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“Agreement” means this agreement
dated as of May 1, 2005 and made between the Company and the
Consultant as the same is from time to time amended;
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(b)
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“Board” means the Board of Directors
of the Company;
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(c)
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“Business” means the business
carried on by the Company from time to time;
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(d)
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“Business Day” means any day other
than a day which is a Saturday, a Sunday or a statutory holiday in
Vancouver, British Columbia;
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(e)
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“Term” means the term during which
this Agreement shall be in full force as defined by section 5.01 of
this Agreement; and
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any other capitalized term shall
have the meaning ascribed to it in this Agreement.
Captions and Section
Numbers
1.02 The
headings and section references in this Agreement are for
convenience of reference only and do not form a part of this
Agreement and are not intended to interpret, define or limit the
scope, extent or intent of this Agreement or any provision
thereof.
Extended Meanings
1.03 The
words “hereof”, “herein”,
“hereunder” and similar expressions used in any clause,
paragraph or section of this Agreement shall relate to the whole of
this Agreement and not to that clause, paragraph or section only,
unless otherwise expressly provided.
Number and Gender
1.04 Whenever
the singular or masculine or neuter is used in this Agreement, the
same shall be construed to mean the plural or feminine or body
corporate where the context of this agreement or the parties hereto
so require.
Section References
1.05 Any
reference to a particular “article”,
“section”, “subsection” or other
subdivision is to the particular article, section or other
subdivision of this Agreement.
Governing Law
1.06 This
Agreement and all matters arising hereunder shall be governed by,
construed and enforced in accordance with the laws of the Province
of British Columbia and the federal laws of Canada applicable
therein and all disputes arising under this Agreement shall be
referred to the Courts of the Province of British
Columbia.
Severability of Clauses
1.07 In
the event that any provision of this Agreement or any part thereof
is invalid, illegal or unenforceable, such provision shall be
ineffective to the extent of such illegality or unenforceability,
but shall not invalidate or affect the validity, legality and
enforceability of the remaining provisions of this
Agreement.
Currency
1.08 All
sums of money to be paid or calculated pursuant to this Agreement
shall be paid or calculated in currency of the United States unless
otherwise expressly stated.
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No Contra Proferentum
1.09 The
language in all parts of this Agreement shall in all cases be
construed as a whole and neither strictly for nor strictly against
any of the parties.
Statutes
1.10 Unless
otherwise stated, any reference to a statute includes and is a
reference to such statute and to the regulations made pursuant
thereto, with all amendments made thereto and in force from time to
time, and to any statute or regulations that may be passed which
supplement or supersede such statute or such
regulations.
Action on Non-Business
Day
1.11 If
by the terms of this Agreement any payment, delivery or event
provided for herein is scheduled to take place at a time which
falls on a day which is not a Business Day, such delivery, payment
or event shall take place on the first Business Day next
following.
ARTICLE 2
ENGAGEMENT OF CONSULTANT
Engagement of Consultant
2.01 Subject
to the terms and conditions of this Agreement, the Company hereby
engages the Consultant, on a part-time basis as required, for the
Term to provide to the Company certain management services
including, without limitation, business administration, corporate
planning and governance, managing regulatory affairs and assisting
in the raising of capital. The Company and the Consultant have
agreed that the Consultant will work a minimum of 15 hours per week
and no more than 20 hours per week.
Duties and
Responsibilities
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2.02
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Without limiting the generality of section 2.01,
the Consultant shall:
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(a)
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perform such management services in relation to
the Company and the Business as the Board from time to time may
request of him;
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(b)
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in the performance of his management services,
observe and comply with all policies and guidelines of the Company
and all resolutions and directions from time to time made or given
by the Board;
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(c)
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comply with all applicable laws, rules,
regulations and orders of any authority having jurisdiction over
the affairs of the Company and the Business;
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(d)
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perform his management services honestly, in
good faith and in the best interests of the Company exercising the
degree of care, diligence and skill that a reasonably prudent
person would exercise in comparable circumstances;
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(e)
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devote so much time and attention to the affairs
of the Company as is required to complete, or cause the completion
of, his management services as described in Section 2.01 herein, on
a timely basis;
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(f)
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conform to such hours of work as may from time
to time be reasonably required of it; and
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(g)
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perform his management services in such manner
as the Consultant sees fit provided that such performance shall
always meet with the standards of the Company.
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Consultant Status
2.03 The
Consultant shall perform his management services as an independent
contractor of the Company and neither the Consultant nor any of the
Consultant’s employees is nor shall be deemed to be an
employee of, or co-venturer or partner of, the Company and nothing
in this Agreement shall be construed so as to make either the
Consultant or any of the Consultant’s employees an employee
of,