Mr. Salil
Dhaumya
[Address Line]
On behalf of Mexoro Minerals Ltd. (the
“Company”), I am pleased to offer you employment in the
positions of Chief Financial Officer and Corporate Secretary,
reporting to directly to me, the Company’s President. This
letter sets out the terms of your employment with Company, which
will start on September 21, 2009, should you accept this
offer.
If you decide to join us, your initial salary
will be $7,000.00 (U.S.) per month (which annualizes to $84,000.00
per year), less applicable tax and other withholdings, paid in
accordance with Company’s normal payroll practices. Future
adjustments in compensation, if any, will be made by Company in its
sole and absolute discretion. This position is an exempt position,
which means you are paid for the job and not by the hour.
Accordingly, you will not receive overtime pay if you work more
than 8 hours in a workday or 40 hours in a workweek.
If you accept this offer, your employment with
Company will be “at will.” This means it is not for any
specific period of time and can be terminated by you at any time
for any reason. Likewise, Company can terminate the employment
relationship at any time, with or without cause or advance notice.
In addition, Company reserves the right to modify your
compensation, position, duties or reporting relationship to meet
business needs and use its managerial discretion in deciding on
appropriate discipline.
You agree to hold all Confidential Information
of the Company in confidence and to not disclose, use, copy,
publish, summarize, or remove from the premises of the Company any
Confidential Information, except as necessary to carry out your
assigned responsibilities to the Company. In the event you are
required to disclose any Confidential Information pursuant to law
or government regulation, you will promptly notify the Company in
order to allow the Company the maximum time to obtain protective or
confidential treatment of the Confidential Information before it is
disclosed. “Confidential Information” is all
information related to any aspect of the Company’s business
which is either information not known by actual or potential
competitors of the Company or is proprietary information of the
Company, whether of a technical nature or otherwise. Confidential
Information is to be broadly defined and includes, but is not
limited to, trade secrets, copyrights, ideas, techniques, know-how,
inventions (whether patentable or not), and/or any other
information of any type relating to business plans, past or future
financing, mar
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