Exhibit 10.1
EMPLOYMENT AGREEMENT
(Key Executive)
This
Employment Agreement (the “Agreement”) is entered on
February 5, 2009 (the “Effective Date” between
Dominion Minerals Corp, a corporation organized under the laws of
Delaware (the “Company”), and Manuel Jose Paredes, a
citizen of Panama, bearer of Panamanian identification card Nº
8-259-666 (the “CEO”) pursuant to the following
declarations, terms and condition
Declarations
A.
The Company is in the business of
controlling, managing, operating and negotiating mining concessions
in many parts of the world, including specifically, control of the
operation of a copper mine located at Cerro Chorcha, Republic of
Panama (the “Project”).
B.
The Company’s business includes
obtaining and managing the finances of its mining operations
worldwide, including the procurement of funds through equity and or
debt infusions from lenders and investors worldwide.
C.
Following a thorough selection process,
during which several candidates were interviewed, the Company has
selected the CEO to fulfill the position of its Chief Executive
Officer.
D.
Following an arms-length negotiation of
the terms and conditions of this Agreement the CEO has accepted the
Company’s offer of employment.
E.
The CEO warrants that there is no legal
impediment to his accepting the terms of this Agreement and that
the Company will not be in violation of any laws or regulations
which may hinder or impede his employment with it or otherwise
subject the Company to prosecution, fines, damages or the
assessment of any penalty.
F.
The preceding Declarations are of the
essence to this Agreement and any inaccuracies therein shall
constitute a breach of the terms and conditions of the
Agreement.
Terms and Conditions
1.
Position. The Company hereby hires the CEO for the key
management position of Chief Executive Officer . The
position shall involve a full time and full efforts commitment by
the CEO who may not accept or perform any other regular employment
either directly or indirectly while employed by the Company under
the terms of this Agreement, with exception of his current
positions held as a member of the Board of Directors of certain
companies, which predate his employment with the
Company.
2.
Duties of the CEO.
The CEO shall report directly to the
Chairman of the Board and shall bear the primary executive
responsibility for overseeing the Company’s day to day
operations, including its management, finances, accounting and
government relations, among other responsibilities, as well as
other functions which are analogous and/or compatible with these
both in Panama and abroad.
3.
Working Schedule.
The CEO shall be available to tend to the
Company’s business during regular business hours as well as
during the course of ordinary business activities, outside those
regular business hours. As key personnel with executive
responsibilities and oversight the CEO shall not be entitled to
overtime, Sunday pay or other bonuses related to employment outside
the regular hours.
4.
Base Salary and Deductions.
As remuneration for his employment under
this Agreement, the CEO will be paid a monthly salary of USD
$15,000, subject to income tax, social security, educational
insurance and other legally prescribed withholding amounts under
the laws of Panama, which salary, net of such deductions, will be
paid in two monthly installments every 15 monthly calendar
days
