exhibit10-1goldenaria.htm


     

    
      

      

    

    
      


      CONTROLLER
AGREEMENT

      
 

       

      
        	 	THIS AGREEMENT is
      made effective this 2nd day of March, 2008.	 
	 	 	 
	BETWEEN:	
                Golden Aria Corp., a
      body corporate duly incorporated under the laws of the State of Nevada,
      and having its Registered Office at 500 – 625 Howe Street, in the City of
      Vancouver, in the Province/State of British Columbia, V6C
    1G8

              	 
	 	 	 
	 	(hereinafter called
      the "Golden Aria")	 
	
                


                 

              	 	 
	
                AND:

              	
                CAB Financial Services
      Ltd., a company duly incorporated under the laws of the Province of
      British Columbia and having an office at 483 Holbrook Road East, in the
      City of Kelowna, in the Province of British Columbia, V1X
    7H9

              	 
	 	 	 
	 	
                (hereinafter
      called the "CAB")

              	 


      

       

      


      WHEREAS:

      


      A.    CAB is a
consulting company controlled by Chris Bunka, who has been appointed Chairman of
the Board and Chief Executive Officer of Golden Aria by the board of
Directors;

      


      B.    Golden Aria
is desirous of retaining the accounting and controller services of CAB on a
continuing basis and CAB has agreed to serve Golden Aria as an independent
contractor upon the terms and conditions hereinafter set forth;

      


      FOR VALUABLE CONSIDERATION it is hereby
agreed as follows:

      


      1.    CAB shall
provide corporate accounting and controller services to Golden Aria, such duties
and responsibilities to include those services set out in Schedule A and CAB
shall serve Golden Aria (and/or such subsidiary or subsidiaries of Golden Aria
as Golden Aria may from time to time require) in such accounting and controller
capacity or capacities as may from time to time be determined by resolution of
the Board of Directors of Golden Aria and shall perform such duties and exercise
such powers as may from time be determined by resolution of the Board of
Directors, as an independent contractor.

      


      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      2.    The basic
remuneration of CAB for its services hereunder shall be at the rate of three
thousand five hundred Canadian dollars per month ($3500.00) exclusive of GST,
together with any such increments thereto as the Board of Directors of Golden
Aria may from time to time determine, payable on the 15th
business day of each calendar month. The basic compensation covers that time
required by CAB, in its estimation, to fulfill the Services.

      


      3.    CAB shall be
responsible for the payment of its income taxes and GST remittances as shall be
required by any governmental entity with respect to compensation paid by Golden
Aria to CAB.

      


      4.    The terms
"subsidiary" and "subsidiaries" as used herein mean any corporation or company
of which more than 50% of the outstanding shares carrying voting rights at all
times (provided that the ownership of such shares confers the right at all times
to elect at least a majority of the Board of Directors of such corporation or
company) are for the time being owned by or held for Golden Aria and/or any
other corporation or company in like relation to Golden Aria and include any
corporation or company in like relation to a subsidiary.

      


      5.    During the
term of this Agreement, CAB shall provide its services to Golden Aria through
Bal Bhullar (“Bhullar”), and CAB shall ensure that Bhullar will be available to
provide such services to Golden Aria in a timely manner subject to Bhullar's
availability at the time of the request.

      


      6.    CAB shall be
reimbursed for all travelling and other expenses actually and properly incurred
by it in connection with its duties hereunder.  For all such expenses CAB
shall furnish to Golden Aria statements, receipts and vouchers for such
out-of-pocket expenses on a monthly basis.

      


      7.    Neither CAB
nor Bhullar shall, either during the continuance of its contract hereunder or at
any time thereafter, disclose the private affairs of Golden Aria and/or its
subsidiary or subsidiaries, or any secrets of Golden Aria and/or its subsidiary
or subsidiaries, to any person other than the Directors of Golden Aria and/or
its subsidiary or subsidiaries or for Golden Aria's purposes and shall not
(either during the continuance of its contract hereunder or at any time
thereafter) use for its own purposes or for any purpose other than those of
Golden Aria any information it may acquire in relation to the business and
affairs of Golden Aria and/or its subsidiary or subsidiaries.

      


      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      8.    CAB and
Bhullar shall well and faithfully serve Golden Aria or any subsidiary as
aforesaid during the continuance of its contract hereunder and use its best
efforts to promote the interests of Golden Aria.

      


      9.    This
Agreement may be terminated forthwith by Golden Aria without prior notice if at
any time:

      


      
        	
                (a)

              	
                CAB
      shall commit any material breach of any of the provisions herein
      contained; or

              


      

      


      
        	
                (b)

              	
                CAB
      shall be guilty of any misconduct or neglect in the discharge of its
      duties hereunder; or

              


      

      


      
        	
                (c)

              	
                CAB
      shall become bankrupt or make any arrangements or composition with its
      creditors; or

              


      

      


      
        	
                (d)

              	
                Bunka
      shall become of unsound mind or be declared incompetent to handle his own
      personal affairs; or

              


      

      


      
        	
                (e)

              	
                CAB
      or Bunka shall be convicted of any criminal offence other than an offence
      which, in the reasonable opinion of the Board of Directors of Golden Aria,
      does not affect their position as a Consultant or a director of Golden
      Aria.

              


      

      


      This
Agreement may also be terminated by either party upon thirty (30) days written
notice to the other.

      


      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      11.    In the event
this Agreement is terminated by reason of default on the part of CAB or the
written notice of Golden Aria, then at the request of the Board of Directors of
Golden Aria, CAB shall cause Bhullar to forthwith resign any position or office
which she then holds with Golden Aria or any subsidiary of Golden
Aria.  The provisions of paragraph 9 shall survive the termination of
this Agreement.

      


      12.    Golden Aria
is aware that CAB has now and will continue to have financial interests in other
companies and properties and Golden Aria recognizes that these companies and
properties will require a certain portion of CAB's time.  Golden Aria
agrees that CAB may continue to devote time to such outside interests, PROVIDED
THAT such interests do not conflict with, in any way, the time required for CAB
to perform its duties under this Agreement.

      


      13.    The services
to be performed by CAB pursuant hereto are personal in character, and neither
this Agreement nor any rights or benefits arising thereunder are assignable by
CAB without the previous written consent of Golden Aria.

      


      15.    Any notice in
writing or permitted to be given to CAB hereunder shall be sufficiently given if
delivered to CAB personally or mailed by registered mail, postage prepaid,
addressed to CAB as its address above.  Any such notice mailed as aforesaid
shall be deemed to have been received by CAB on the first business day following
the date of mailing.  Any notice in writing required or permitted to be
given to Golden Aria hereunder shall be given by registered mail, postage
prepaid, addressed to Golden Aria at the address shown above.  Any such
notice mailed as aforesaid shall be deemed to have been received by Golden Aria
on the first business day following the date of mailing.  Any such address
for the giving of notices hereunder may be changed by notice in writing given
hereunder.

      


      16.    The
provisions of this Agreement shall enure to the benefit of and be binding upon
CAB and the successors and assigns of Golden Aria.  For this purpose, the
terms "successors" and "assigns" shall include any person, firm or corporation
or other entity which at any time, whether by merger, purchase or otherwise,
shall acquire all or substantially all of the assets or business of Golden
Aria.

      


      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      17.    Every
provision of this Agreement is intended to be severable.  If any term or
provision hereof is illegal or invalid for any reason whatsoever, such
illegality or invalidity shall not affect the validity of the remainder of the
provisions of this Agreement.

      


      18.    This
Agreement is being delivered and is intended to be performed in the Province of
British Columbia and shall be construed and enforced in accordance with, and the
rights of the parties shall be governed by, the laws of such Province. 
This Agreement may not be changed orally, but only by an instrument in writing
signed by the party against whom or which enforcement of any waiver, change,
modification or discharge is sought.

      


      19.    This
Agreement and the obligations of Golden Aria herein are subject to all
applicable laws and regulations in force at the local, provincial, and federal
levels.

      


      IN WITNESS WHEREOF this Agreement has
been executed as of the day, month and year first above written.

      


      


      
        	
                THE
      COMMON SEAL of Golden Aria Corp. was hereto affixed in the presence
      of:

                ____________________________

                ____________________________

              	
                )

                )

                )

                )

                )                       c/s

                )

                )

                )

                )

                )

              


      

      


      


      
        	
                SIGNED
      by:

                ____________________________

                ____________________________

              	
                )

                )

                )

                )

                )

                )

                )

                )

                )

                )

              


      

      


      


      
        
          
          

        

        
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      SCHEDULE
A

      


      The
Services

       

      
        
          
            	Bookkeeping
      and Accounting:
	 	
                    Set
      up general ledger and internal systems;

                    Do
      weekly bookkeeping, cheque writing, accounts receivable and
      payable;

                    Prepare
      and complete full quarterly financial statements, notes, and
      MD&A;

                    Liaise
      with external auditors;

                    Set
      up oil and gas well ledgers, reserves, NPV, etc;

                    General
      banking.

                  
	 	 
	
                    Regulatory
      filings:

                    Prepare,
      review, revise and file:

                  
	
                    SEC:

                  
	
                    
                      
                      

                    

                  	
                    
                      AGM
      

                        Sarbanes
      Oxley internal controls and compliance

                        Prepare, complete
      and file: 

                          10KSB

                          10Q

                          8K

                          SB2

                          Forms
      3, 4, 5

                        

                      

                    

                  
	
                     

                  	
                    
                       

                    

                  
	BCSC:
	
                     

                  	
                    As
      needed.

                  
	 	 
	Other:
	 	Insurance
      requirements 

                    Canadian/US
      Taxation forms

                    State
      of Nevada

                    GST
      Remit

                    Payroll
      Source Deduction Remit

                  
	 	 
	Finance
      Related:
	  

                     

                  	
                    Insert
      financial reporting into presentation materials;

                    Construct
      powerpoint presentations;

                    Construct
      and update monthly, spreadsheet financial models and
      forecasts;

                    Oil
      & Gas Project evaluation, NPV calculations;

                  
	 	 
	Executive
      Services:
	 	
                    CFO or
      controller level Road-Show presentations;

                    Strategic financing;

                    
                      Office
      management;

                      Personnel
      manager;

                      Strategic
      planning;

                    

                  


          

        

         

      

      
        
          
          

        

        
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