SERVICES AGREEMENT
THIS AGREEMENT is made effective the 1
st day of January,
2009
(the “Agreement”), between
Global Green Solutions Inc., a Nevada Corporation
(“GGRN”) at 789 West Pender Street, Suite 1010,
Vancouver, BC, Canada V6C 1H2 and; Arnold Hughes,
(“Hughes”) of 3523 West King Edward
Avenue, Vancouver, British Columbia, Canada, V6S 1M4, together, the
Parties.
RECITALS
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GGRN is a public company engaged in the
business of developing and implementing technology internationally
for renewable energy projects;
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GGRN requires the services of a Chief
Financial Officer;
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Hughes has been providing Chief Financial
Officer services to GGRN on a continuous basis since March 15, 2006
and GGRN wishes to have Hughes continue to provide those
services;
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The Parties agree that Hughes has the skills
and expertise to serve as Chief Financial Officer for GGRN, as
successfully demonstrated since March 15, 2006; and
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Hughes has agreed to continue to serve as
Chief Financial Officer for GGRN as hereinafter provided.
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AGREEMENT
NOW, THEREFORE, t he Parties agree as
follows:
1
.
Services . Hughes agrees to continue to provide
the services of Chief Financial Officer of GGRN and report to the
Chief Executive Officer of GGRN. Hughes will perform
such duties as are assigned to him by GGRN, including those
regularly and customarily performed by a Chief Financial Officer
including responsibility for all accounting, financial and related
administrative activities regarding GGRN, its subsidiaries, and its
joint venture companies (collectively, the
“Duties”). Hughes will comply with all
rules, policies and procedures of GGRN as modified from time to
time. Hughes will perform all of his responsibilities in
compliance with all applicable laws and will endeavor to ensure
that the operations are in compliance with all applicable laws.
2
.
Term of Engagement . The term of engagement of
Hughes will be for the three year period commencing the 1
st day of January,
2009 and ending the 31 st day of December, 2011 ("the
Term"), unless sooner terminated in accordance with the terms and
conditions of this Agreement. If the term continues
after the end of the Term, such term will continue on the terms and
conditions set forth in this Agreement, but will be terminable by
either party at any time with or without cause or advance notice,
unless otherwise mutually agreed.
3.
Compensation . For the duration of Hughes’s
tenure hereunder, Hughes will be entitled to base compensation at a
monthly rate of US $8,000.00, in arrears.
4.1
Certain Benefits. Hughes will be eligible to
participate in all corporate benefit programs established by GGRN
that are applicable to management personnel such as medical,
pension, disability and life insurance plans on a basis
commensurate with Hughes’ position and in accordance with
GGRN’s policies from time to time, but nothing herein shall
require the adoption or maintenance of any such plan.
4.2
Vacations, Holidays and Expenses . For the
duration of Hughes’ tenure hereunder, Hughes will be provided
with such holidays, sick leave and vacation as GGRN makes available
to its management level employees generally. GGRN will
reimburse Hughes in accordance with company policies and procedures
for reasonable expenses necessarily incurred in the performance of
duties hereunder against appropriate receipts and vouchers
indicating the specific business purpose for each such
expenditure.
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Termination or Discharge by GGRN.
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5.1
For Cause. GGRN will have the right to
immediately terminate Hughes’ services and this Agreement for
cause. For the purposes of this Agreement,
“Cause” includes:
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fundamental breach of this Agreement by
Hughes;
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failure to perform assigned job
responsibilities that continues unremedied for a period of sixty
(60) days after written notice to Hughes by GGRN as to the
stand
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