CONTRACT BETWEEN JEFF MANORE, PRO-GOLF TAECHING ACADEMY LLC AND
EX-10.25 5 ex1025.htm EXHIBIT 10.25 ex1025.htm
Exhibit 10.25
CONTRACT
BETWEEN JEFF MANORE, PRO-GOLF TAECHING ACADEMY LLC AND
ELEMENT 21 GOLF (AREM)
October 20, 2010
VP OF RESEARCH AND DEVELOPMENT
PAYMENT TERM:
| 1) | 3 SETS OF SHAFTS/ MONTH FOR 12 MONTHS (Maximum 8 shafts per set) |
| 2) | $2,000/ MONTH PAID IN COMMON SHARES OF AREM BASED ON THE AVERAGE CLOSING PRICE OF THE LAST FIVE DAYS OF EACH MONTH |
| 3) | PAY EXPENSES ON TRIP AND TOUR RELATED (Subject to all expenses pre-approved in writing) |
| 4) | MAINTAIN AT LEAST 100 SHAFT INVENTORY AT JEFF'S FACILITY (7550 STERNS RD, OTTAWA LAKE, MI 49267) (TO BE INVOICED BY AREM TO JEFF) WITH THE STARTING INVENTORY OF 448 SHAFTS |
| 5) | INCENTIVE PROGRAM TO BE DEVELOPED AS THE PRODUCT IS LAUNCHED |
DUTIES:
| 1) | FITTING OF PGA AND LPGA TOUR PLAYERS |
| 2) | CREATION OF FITTING SCHEDULES AND CHARTS FOR OEMS, TOUR TRAILERS, CLUB MAKERS AND INDIVIDUAL SALES |
| 3) | MANUFACTURING OF SHAFT SETS (IRONS, HYBRIDS, WEDGES AND PUTTERS) |
| 4) | COORDINATING AND RUNNING SEMINARS FOR CLUB MAKERS |
| 5) | R&D FOR SCANDIUM AND COMPOSITE SHAFTS |
| 6) | SHAFTS RETAINED/ BOUGHT BY JEFF WILL BE CHARGED AT $24/SHAFT EXCEPT FOR THE 3 SETS PER MONTH FOR THE 12 MONTH PERIOD |
TERM:
| 1) | COMMENCING OCTOBER 20,2010 AND ENDING ON OCTOBER 19,2011 |
| 2) | RENEWABLE UPON MUTUAL AGREEMENT |
| 3) | 3 MONTHS TERMINATION BY EITHER PARTY |
 |  |
| JEFF MANORE PRO-GOLF TEACHING ACADEMY LLC | NATALIYA HEARN ELEMENT 21 GOLF COMPANY (AREM) |
