Luckycom Inc. Oral Compensation and Loan Arrangement Confirmation with Kingrich Lee
This agreement documents previous oral arrangements between Luckycom Inc. and Kingrich Lee regarding his compensation as an officer and director, and loans he made to the company. Mr. Lee was paid monthly fees for his services, which ended when he entered into a formal employment agreement with Luckycom Ltd. Additionally, Mr. Lee loaned $27,179 to the company, which was unsecured, non-interest bearing, and repaid in full by May 31, 2013. The agreement serves to formally record these terms for regulatory purposes.
From: Luckycom Inc. (the “COmpany”)
Level 8, Two Exchange Square, 8 Connaught Place
Central Hong Kong
To: Kingrich lee
date: October 7, 2013
re: ORAL compensation AND LOAN arrangments
In order to reduce to writing certain oral arrangements for purposes of Item 601(b)(10) of Regulation S-K, please note the following:
- We had oral agreement with Mr. Lee to pay monthly fees of approximately $4,520 USD for his services as our officer and director. Total officer compensation was $9,030 for the period ended February 28, 2013 and $13,560 for the period ended May 31, 2013. This oral agreement is terminated in connection with Mr. Lee’s Employment Agreement with Luckycom Ltd., which supersedes and replaces the oral arrangement with our company.
- Mr. Lee loaned $27,179 to the Company during the period ended May 31, 2013, which was the largest aggregate total amount outstanding during any given period. The amounts were unsecured, non-interest bearing and due on demand. The loans were repaid in full during the three months ended May 31, 2013; the total due to Mr. Lee was $0 as of May 31, 2013.
Luckcom, Inc.
/s/ Kingrich Lee
By: Kingrich Lee
Its: President and CEO
