EMPLOYMENT
AGREEMENT


 


 


THIS AGREEMENT
MADE AS OF October 13, 2015 but effective as of January 1, 2015 (The “Effective Date”)


 


 


BETWEEN:


 


Praetorian
Property, Inc., a company incorporated under the laws of the State of Delaware, USA, having a business address at 7702
E Doubletree Ranch Rd. Ste 300 Scottsdale AZ 88258.


(the
“Company”)


 


OF
THE FIRST PART


AND:


 


Munjit
Johal, A US citizen, with an address at 42 Rockwood, Irvine, California 92614.


(the
“Employee”)


 


OF
THE SECOND PART


 


WHEREAS
the Company has agreed to hire the Munjit Johal as a full-time Employee of the Company and the Employee has agreed to provide
management services to the Company on the terms and conditions hereinafter set forth;


 


NOW
THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements herein contained, the parties
hereto agree (the “Agreement”) as follows:


 


 


		1.	APPOINTMENT



 


		1.1.	The
                                         Company hereby retains the Employee to provide the Company management with services as
                                         the Chief Financial Officer (the “Services”) in regards to the Company’s
                                         management and operations, and the Employee hereby agrees to provide such Services upon
                                         the terms and conditions contained in this Agreement.



 


		2.	TERM;
                                         TERMINATION:



 


		1.1.	The
                                         term of this Agreement will begin on the date of the Effective Date and terminate (i)
                                         by mutual consent; (b) if the Employee gives 30 days’ prior written notice to the
                                         Company; or (c) if the Company gives 90 days’ prior written notice to the Employee.
                                         If the Company terminates the Employee, the Employee shall be entitled to 18 month’s
                                         severance pay and any bonus payable to Employee.



 


 




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		3.	ASSIGNMENT:
                                         



 


		1.1.	Due
                                         to the personal nature of the services to be rendered by Employee, this Agreement may
                                         not be assigned. Company may assign all rights and liabilities under this agreement to
                                         a subsidiary or an affiliate or to a successor to all or a substantial part of its business
                                         and assets with the prior written consent of the Employee. Subject to the foregoing,
                                         this Agreement will inure to the benefit of and be binding upon each of the heirs, assigns,
                                         and successors of the respective parties.



 





		4.	REMUNERATION/REIMBURSEMENT



 


		1.1.	Salary.
                                         During the term of this Agreement, and provided the Agreement has not been terminated
                                         pursuant to Section 2, Company shall pay Employee a salary of $4,000 per month commencing
                                         from the Effective Date payable in respect of each calendar month on the last day of
                                         each month. The Employee shall be entitled to four weeks per year of paid vacation.



 


		1.2.	Bonus.
                                         The Employee will be entitled to a bonus set by the Board of Directors at year end each
                                         year.



 


		1.3.	Expenses.
                                         Company shall reimburse Employee for all reasonable and necessary out-of-pocket expenses,
                                         including travelling expenses, associated with providing the Services. Any monthly expenses
                                         shall be approved by the Company prior to their being incurred.



 





		1.4.	Benefits.
                                         Employee is to receive full medical and dental insurance paid
                                         for by the Company.



 


		1.5.	Taxes.
                                         Company will deduct the required tax owing and remit monthly to the IRS on the Employee’s
                                         behalf. If Employee incurs income tax or any other tax, including payroll tax, as a result
                                         of the receipt of non-cash compensation during any fiscal year, Company shall pay to
                                         Employee an amount equal to cover any and all such tax. 





 





		5.	DUTIES
                                         OF THE EMPLOYEE



 


		1.1.	The
                                         Employee shall provide management services to the Company pursuant to this Agreement
                                         by directing, overseeing and coordinating major activities of the Company’s operations,
                                         including identifying, evaluating, performing due diligence and acquiring direct equity
                                         holdings in promising properties located in the US, raising capital, as well as acting
                                         as spokesperson for the Company. The Company recognizes that the Employee is actively
                                         involved in other businesses as board member and management, and that therefore, the
                                         Employee shall devote the necessary time, ability, and attention to the business of the
                                         Employer as he and the Board of Directors mutually deem necessary to carry out his duties.





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		6.	CONFIDENTIALITY



 


		1.1.	Unless
                                         permitted by resolution of the Directors, the Employee shall not, during the term of
                                         this Agreement or at any time thereafter, use for its own purposes or for any purposes
                                         other than those of the Company any intellectual property or knowledge or confidential
                                         information of any kind whatsoever it may acquire in relation to the Company’s
                                         business or the business of its subsidiaries, and such shall be and remain the property
                                         of the Company.



 


		8.	GENERAL



 


		1.1.	The
                                         headings and section references in this Agreement are for convenience of reference only
                                         and do not form a part of this Agreement and are not intended to interpret, define or
                                         limit the scope, extent or intent of this Agreement or any provision thereof.



 


		1.2.	Time
                                         is hereby expressly made of the essence of this Agreement with respect to the performance
                                         by the parties of their respective obligations under this Agreement.



 


		1.3.	This
                                         Agreement shall insure to the benefit of and be binding upon the parties hereto and their
                                         respective heirs, executors, administrators, personal representatives, successors and
                                         permitted assigns. This Agreement may not be assigned by either party hereto without
                                         the prior express written consent of the other party.



 


		1.4.	This
                                         Agreement constitutes the entire agreement between the parties hereto relating to the
                                         subject matter hereof and may not be amended, waived or discharged except by an instrument
                                         in writing executed by the party against whom enforcement of such amendment, waiver or
                                         discharge is sought and this Agreement supersedes all prior agreements between the parties.



 


		1.5.	Each
                                         of the parties hereto hereby covenants and agrees to execute such further and other documents
                                         and instruments and do such further acts and other things as may be necessary to implement
                                         and carry out the intent of this Agreement.



 


		1.6.	All
                                         notices, requests, demands and other communications hereunder shall be in writing and
                                         shall be deemed to have been duly given if delivered by hand or mailed by postage prepaid
                                         double registered mail address as follows:



 


To
the Company:


 


Praetorian
Property, Inc.


Address:
7702 E Doubletree Ranch Rd. Ste 300 Scottsdale AZ 88258


 


Attention:
The President


 


To
the Employee:




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Address:


42
Rockwood, Irvine, California 92614.





 


Attention:
Munjit Johal 


 


IN WITNESS
WHEREOF this Agreement has been duly executed by the parties hereto effective as of the day and year first above written.


 


 


PRAETORIAN
PROPERTY, INC.


 


 


 


Per:
/s/ Authorized Signatory 


 Authorized
Signatory


 


/s/ Munjit
Johal 


Munjit
Johal



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