Consulting and Compensation Agreement between Atlantic Components Limited and Mr. LEE Kun Lin
Atlantic Components Limited (ATL) appoints Mr. LEE Kun Lin as Chief Financial Officer under this agreement. Mr. Lee will handle investor relations, SEC filings, and special projects. He will receive a monthly consulting fee of HKD 50,000, an annual issuance of 175,000–200,000 shares of ACL Semiconductors Inc, and a 1% incentive on funds raised up to USD $40 million for specific projects. The agreement is effective from June 11, 2010, to December 31, 2011.
Exhibit-10.1
AGREEMENT
THIS AGREEMENT is made on the 11th day of June 2010.
BETWEEN:
Atlantic Components Limited (“ATL”), a Hong Kong corporation with its Registered place of business at Room 1701, 17/F., Tower 1, Enterprise Square, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong.
AND
Mr. LEE Kun Lin, with address located Room A, 1/F, Tontex Building, 2 Sheung Hei Street, Kowloon, Hong Kong.
WHEREAS:
“ATL” hereby appoint Mr. LEE Kun Lin as the Chief Financial Officer. Mr. Lee will be responsible for: the Group investor relations; road show; private investment in public equity and special project; quarter’s press release plus 10Q & 10K SEC related issues.
THEREFORE IT IS HEREBY AGREED AS FOLLOWS:
| 1. | “ATL” agree to pay Mr. LEE Kun Lin in Hong Kong dollars Fifty Thousand Dollars (“HKD 50,000.00”) per month as consultation fee. |
| 2. | “ATL” will issue 175,000 – 200,000 shares of ACL Semiconductors Inc to Mr. Lee Kun Lin in a year. |
| 3. | This AGREEMENT will operate for a term of 19 months and it will commence on 11th June 2010 and it will expire on 31st December 2011. |
| 4. | Incentive for fund raising projects as they arise: Project ONE: 1% of fund raise for up to USD $40Million in 2010/2011. |
The parties hereto have executed this Agreement on the dates set forth above.
| Signed for and on behalf of | Signed for and on behalf of | |
| Atlantic Components Limited | Mr. LEE Kun Lin | |
| Date: February 21, 2011 | Date: February 18, 2011 | |
