CareerTek.org Inc.
170 Atwell Drive, Suite 640 Toronto, Ontario M9W 3Z3
416 679 8688 (T) 416 679 8684 (F)
galligan@CareerTek.org
October 12, 2000
Mr. Tony Harnett
RR#1 Alton, ON
LON 1AO
VIA Hand Delivery
Dear Mr. Harnett RE: Summary Term Sheet for Position of VP Corporate Sales:
CareerTek.org Inc
The purpose of this letter is to propose the general terms and conditions of a
contract with you, as follow:
Job Title: VP Marketing
1. Responsibilities:
o Develop and Drive a Marketing Program that results in "Usage
Contracts" with particularly Canadian Top 100 and Fortune 500
Corporate for JobFit profiles.
o Negotiate favorable revenue sharing Agreements wit "other
marketing agents"
o Manage and Develop in House Sales Force
o Develop, Create, and Produce materials and training programs to
support sales and marketing of the Company's three key
products: jobFit, careerFit, studentFit.
o Operate within established budgetary parameters.
o File concise weekly results reports on appropriate topics and
activities.
o File monthly summary reports for presentation to Executive
Committee or Board of Directors.
o From a team-centered concept, assist all Company employees in
creating a value-centered workplace where employees, managers
and shareholders will share in the personal and financial
rewards wrought by outstanding performance.
o Provide mentoring and instruction to other employees.
o Manage Specialized Marketing projects
2. Compensation: A package based on performance objectives as follows:
o Base Salary: 90 day probation period: $5,000.00 per month
paid 50% at the 15% and last day of the month
Escalations in salary based on attaining performance revenue
objectives for a three-month running average as follows:
>> At $20,000/month add $1,000.00 per month for $6,000
>> At $50,000/month add $1,000.00 per month for $7,000
>> At $100,000/month add $1,500.00 per month for $8,500
>> At $150,000/month add $1,500.00 per month for $9,000
>> At $200,000/month add $1,500.00 per month for $10,500
>> At #250,000/month add $1,500.00 per month for $12,500
o Out of pocket expenses as approved reimbursed 100%
o Signing Bonus: 50,000 common shares of the company vested upon
completion of one-year continuous service. Second to fifth
annual anniversary share bonuses of 50,000 common shares.
o "Special" Shares Bonuses: Based on revenue generated by all
gross sales for a three month running average as follows:
>> At $20,000/month - 5,000 shares
>> At $50,000/month - 5,000 shares / 10,000 total
>> At $100,0000/month - 5,000 shares / 15,000 total
>> At $150,000/month - 5,000 shares / 20,000 total
>> At $200,000/month - 5,000 shares / 25,000 total
o Additional Share, Cash Incentive, and/or Option Plan Bonuses
per programs instituted by Board Of Directors form time to time
o Special Proviso for 5% override commissions on business
generated through ADP and ADP relationships.
3. Term: Three (3) Years subject to termination on 90 days notice.
4. Initiation Date: ASAP
5. Benefits: In accordance with corporate plans if any in effect.
If this proposal is acceptable to you kindly so indicate below and provide a
copy to us.
Sincerely, Accepted:
/s/ Mark L. Galligan /s/ Anthony Harnett
Mark L. Galligan Anthony Harnett
Principal
