RE: HiEnergy Technologies, Inc. - Engagement LetterEngagement Agreement |
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EXHIBIT 10.148
DR Vladivoj
Valkovic
Prilesje 4
10000
ZAGREB
Croatia
February
16, 2006
Dr. Bogdan C. Maglich
Chairman and Chief Executive Officer
HiEnergy Technologies, Inc.
1601B Alton Parkway
Irvine, CA 92606
RE: HiEnergy Technologies, Inc. -
Engagement Letter
Dear Sir,
This letter will confirm our mutual understanding concerning advisory and
consulting services that I, Dr. Vladivoj Valkoviae ("Valkoviae"),
will render to
HiEnergy Technologies, Inc. and/or its subsidiaries ("HiEnergy"), as
described
herein.
Services
--------
1. Valkovic will provide HiEnergy with
advisory services to assist
HiEnergy in product and
technology sales, promotion, research,
product development and
integration, and technology licensing and
funding opportunities.
The services provided by
Valkovia will include (but not be limited
to):
o Sales of all HiEnergy's products and
re-sale technologies in
Europe and Africa;
o Significant participation in the projects
funded by NATO,
IAEA, EU and local
governments;
o Organizing conferences, seminars, shows,
exhibits, meetings
and other events in
Europe including TV and radio shows in
which HiEnergy and its
products will receive prominent role;
and
o Producing publications, CD's, films, books
in which HiEnergy
and its products will
receive prominent role.
Compensation
------------
2. HiEnergy will pay Valkoviae a retainer of
$40,000 for aforementioned
services to be rendered to
HiEnergy. Said retainer will be pre-paid
in the form of restricted
stock, which is to be filed under a
