KAL Energy, Inc. Executive Chairman Remuneration Agreement with William Bloking (December 2008)

Summary

KAL Energy, Inc. offers William Bloking, its Executive Chairman and President, an amended compensation package effective January 1, 2009. Instead of a $300,000 annual cash salary, Mr. Bloking will receive the equivalent value in KAL Energy stock, calculated at the market rate each month. This agreement outlines the change in payment method and requires Mr. Bloking's written acceptance.

EX-10.2 3 v134479_ex10-2.htm

EXHIBIT 10.2

Mr William Bloking

President & Chairman of the Board of Directors

KAL Energy, Inc.

10 December 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 amended Remuneration Package.

Base Salary

During your term as Executive Chairman, your cash fees will be decreased from a rate of $300,000 per annum to $0 per annum. This will be accounted for since January 1, 2009.

In exchange for the cash savings, the Company offers to pay you the equivalent rate in shares of KAL Energy Stock at the prevailing market rate for each month of service.

I hope you will find this to be a competitive offer, and look forward to your written acceptance.

Yours sincerely,

Andrew Caminschi

Executive Director

KAL Energy, Inc.