 | Head Office: 81 Clemenceau Ave. 04-15/16 UE Square Suite 23 Singapore 239917 (t) +65 6830 8440 www.kalenergyinc.com |
Mr William Bloking
President & Chairman of the Board of Directors
KAL Energy, Inc.
9 September 2008
RE: Executive Chairman Fees
Dear Mr. Bloking:
On behalf of the Board of Directors of KAL Energy, Inc. (“the Company”), and in light of your duties as Executive Chairman and President of the Company, I hereby tender for your consideration our offered Remuneration Package.
Base Salary
During your term as Executive Chairman, your fees will be increased from a rate of $84,000 per annum to $300,000 per annum, payable monthly in arrears on the 15th of the month.
This will be accounted for since June 1, 2008. This fee structure will revert to $84,000 per annum upon appointment of a new Chief Executive Officer as so noted by a resolution of the Board of Directors.
I hope you will find this to be a competitive offer, and look forward to your written acceptance.
Yours sincerely,
| /s/ Antonio Varano | |||
Antonio Varano | |||
Independent Non-Executive Director KAL Energy, Inc |
US Office:
148 North Main St.
Florida, NY 10921
(t) +1 (845) 651 5260
(f) +1 (845) 988 6817
www.kalenergyinc.com