Document:

chtl_10q-ex1001.htm

    
      	
               
      

            	
              EXHIBIT
      10.1

            

    

    
      	
               
      

            	
            

    

    
      C  O  N  S  U  L  T  I  N  G    A  G  R  E  E  M  E  N   T

    

    AGREEMENT made as of the 11th day of
March by and between CHINA TEL GROUP INC., maintaining its principal offices
at  8105 Irvine Center Drive Suite 800 Irvine, CA 92618 (hereinafter
referred to as "CHINATEL") and STRATEGIC PARTNERS CONSULTING, LLC maintaining
his principal offices at 58 Autumn Lane Bristol, NH 03222 (hereinafter referred
as "STRATEGIC").

    

    

    W
I T N E S S E T H:

    

    WHEREAS, STRATEGIC is engaged in the
business of financial consulting services and has knowledge, expertise and
personnel to render the requisite services to CHINATEL; and

    

    WHEREAS, CHINATEL is desirous of
retaining STRATEGIC for the purpose of obtaining these services so as to better,
more fully and more effectively present itself in the financial services
community.

    

    NOW, THEREFORE, in consideration of the
premises and of the mutual covenants and agreements contained herein, it is
agreed as follows:

    

    I. Engagement of
STRATEGIC.  CHINATEL herewith engages STRATEGIC and STRATEGIC agrees
to render to CHINATEL financial consulting services which would include
evaluating various business strategies and recommending changes where
appropriate and also critically evaluate CHINATEL’s performance in view of its
corporate planning and business objectives.

    

    A.           The
consulting services to be provided by the STRATEGIC shall include, but are not
limited to, the development, implementation and maintenance of a sound financial
advisory strategy which would include:

    

    1. Corporate Planning--(a) develop an
in-depth familiarization with CHINATEL's business objectives and bring to its
attention potential or actual opportunities which meet those objectives or
logical extensions thereof, (b) alert the CHINATEL to new or emerging high
potential forms of production and distribution which could either be acquired or
developed internally, (c) comment on CHINATEL's corporate development including
such factors as position in competitive environment, financial performances vs.
competition, strategies, operational viability, etc., and (d) identify
prospective suitable merger or acquisition candidates for the CHINATEL, perform
appropriate diligence investigations with respect thereto, advise the CHINATEL
with respect to the desirability of pursuing such candidates, and assist the
CHINATEL in any negotiations which may ensue there from.

    

    B. The services to be rendered by
STRATEGIC to the CHINATEL shall under NO circumstances include the
following:

    

    1.  Any activities which
could be deemed by the Securities and Exchange Commission to constitute
investment banking or any other activities required by  STRATEGIC to
be registered as a broker-dealer under the Securities Act of 1934.

    

    2.  Any activities which
could be deemed to be in connection with the offer or sale of securities in a
capital-raising transaction.

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    C.           CHINATEL
acknowledges that STRATEGIC will devote such time as is reasonably necessary to
perform the services for CHINATEL, having due regard for STRATEGIC's commitments
and obligations to other businesses for which it performs consulting
services.

    

    

    II.
Compensation and Expense Reimbursement.

    

    A.           CHINATEL
will pay  STRATEGIC, as compensation for the services provided for in
this Agreement and as reimbursement for expenses incurred by STRATEGIC on
CHINATEL's behalf, in the manner set forth in Schedule A annexed to this
Agreement which Schedule is incorporated herein by reference.

    

    Term and Termination.  This
Agreement shall be for a period of six months commencing March 11th, 2009 and
terminating September 11th, 2009.

    

    Treatment of Confidential
Information.   STRATEGIC shall not disclose, without the consent
of CHINATEL, any financial and business information concerning the business,
affairs, plans and programs of CHINATEL which are delivered by CHINATEL to
STRATEGIC in connection with  STRATEGIC's services hereunder, provided
such information is plainly and prominently marked in writing by CHINATEL as
being confidential (the "Confidential Information").  That STRATEGIC
will not be bound by the foregoing limitation in the event (i) the Confidential
Information is otherwise disseminated and becomes public information or (ii)
that STRATEGIC is required to disclose the Confidential Informational pursuant
to a subpoena or other judicial order.

    

    Indemnification by CHINATEL as to
information provided to STRATEGIC.  CHINATEL acknowledges that
STRATEGIC, in the performance of its duties, will be required to rely upon the
accuracy and completeness of information supplied to it by CHINATEL's officers,
directors, agents and/or employees.  CHINATEL agrees to indemnify,
hold harmless and defend STRATEGIC, its officers, agents and/or employees from
any proceeding or suit which arises out of or is due to the inaccuracy or
incompleteness of any material or information supplied by CHINATEL to
STRATEGIC.

    

    Independent Contractor.  It
is expressly agreed that STRATEGIC is acting as an independent contractor in
performing its services hereunder.  CHINATEL shall carry no workers
compensation insurance or any health or accident insurance on STRATEGIC or
consultant's employees. CHINATEL shall not pay any contributions to social
security, unemployment insurance, Federal or state withholding taxes nor provide
any other contributions or benefits which might be customary in an
employer-employee relationship.

    

    Assignment.  This
Agreement may be assigned all or in part by STRATEGIC without the written
consent of the other party.

    

    Notices.  Any notice to be
given by either party to the other hereunder shall be sufficient if in writing
and sent by registered or certified mail, return receipt requested, addressed to
such party at the address specified on the first page of this Agreement or such
other address as either party may have given to the other in
writing.

    

    Entire Agreement.  The within
agreement contains the entire agreement and understanding between the parties
and supersedes all prior negotiations, agreements and discussions concerning the
subject matter hereof.

    
      
         

      

      
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    Modification and
Waiver.  This Agreement may not be altered or modified except by
writing signed by each of the respective parties hereof.  No breach or
violation of this Agreement shall be waived except in writing executed by the
party granting such waiver.

    

    Law to Govern; Forum for
Disputes.  This Agreement shall be governed by the laws of the
Commonwealth of Massachusetts without giving effect to the principle of conflict
of laws.  Each party acknowledges to the other that courts within the
City of Boston, Massachusetts shall be the sole and exclusive forum to
adjudicate any disputes arising under this agreement.

    

    Cancellation.  This agreement
may be cancelled by CHINATEL with seven days written notice and that all
prorated shares will be returned to CHINATEL upon such
cancellation.

    

    

    IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year
first written above.

    

    

    

    

    

    

    By:           ____________________________

    STRATEGIC PARTNERS CONSULTING,
LLC

    

    

    

    

    

    

    By:           ____________________________

    CHINA TEL GROUP, INC.

    
      
         

      

      
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    SCHEDULE
A-1

    

    PAYMENT
FOR SERVICES

    AND
REIMBURSEMENT OF EXPENSES

     

    

    
      	
              A.   
        

            	
              For
      the services to be rendered and performed by STRATEGIC during the term of
      the Agreement, CHINATEL agrees to pay to STRATEGIC, 2,300,000 shares
      (Two-Million Three Hundred Thousand shares) of CHINA TEL GROUP, INC.
      restricted common stock issued in two traunches, with the first traunch of
      1,300,000 shares to be received within 10 days of the signing of this
      agreement and the remaining 1,000,000 shares to be received within 45 days
      of the signing of this agreement.  All shares issued will have
      Piggy-Back Rights of registration or after any period applicable under
      Rule 144, CHINATEL will have an attorney issue an opinion letter for the
      removal of the legend and release all stock transfer instructions on such
      stock except as may be required under state or federal securities
      laws.

            
	 	 

    

    
      	
              B.    
       

            	
              STRATEGIC
      agrees that all expenses must be approved in advance by CHINA TEL and that
      STRATEGIC may invoice CHINA TEL for those expenses upon and only with the
      approval of CHINA TEL.

            

    

    

    

    

    

    

    

              By:         __________________________________

              STRATEGIC
PARTNERS CONSULTING, LLC

    

    

    

    

    

    

    

                                                                                                       
By:        ___________________________________

    CHINA TEL
GROUP, INC..

     

     

     

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  EXHIBIT 10.1    
    

 
    AMENDMENT TO EMPLOYMENT AGREEMENT    
    

        This
AMENDMENT ("Amendment") is made as of May 18, 2009, by and between GAF Materials Corporation (the "Company") and Richard A. Nowak (the "Employee"). 

W
I T N E S S E T H: 

        WHEREAS,
Employee and the Company entered into that certain Employment Agreement dated August 9, 2007 ("Employment Agreement"); and 

        WHEREAS,
the Company and Employee desire to amend the Employment Agreement on the terms and conditions set forth below, to provide for the continued employment of Employee under the
terms herein specified; and 

        NOW,
THEREFORE, in consideration of the above-stated premises, the mutual promises herein contained, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties agree as follows: 

	1.
	Defined
Terms.    Capitalized terms used but not defined herein shall have the meanings specified in the Agreement.

	2.
	Amendments
to Agreement.    The Company and Employee agree to amend the Agreement as
follows:

	a.
	Paragraph 3
shall be deleted in its entirety and replaced with the following new paragraph: 

3.
Term of Agreement.    The Term of this Agreement shall commence on the date Employee executes this Agreement and shall continue until the close of business on December 31, 2010,
unless earlier terminated as provided in Paragraph 11 (the "Term of Employment").  

	b.
	The
last sentence of Paragraph 5 shall be deleted and replaced with the following new sentence: 

Employee
shall be eligible for annual merit increases of his base salary on the same terms and conditions as other executive officers.  

	c.
	A
new Paragraph 8A shall be added immediately after Paragraph 8 as follows: 

8A.
Incentive Bonus.    Employee shall receive a bonus of $500,000 within 30 days of December 31, 2010 if (a) Employee's employment with the Company has not been
terminated pursuant to Paragraph 11 or Employee has not resigned prior to the end of the Term of Employment and (b) the Employee has successfully completed the projects mutually agreed
upon by Employee and Company; provided,
however, that if Employee has not successfully completed such projects by December 31, 2010 and Employee's employment with the Company has not been terminated pursuant to Paragraph 11 or
Employee has not resigned prior to the end of the Term of Employment, Employee shall receive a bonus of $250,000 within 30 days of December 31, 2010.  

	d.
	Paragraph 9
shall be amended by adding at the end thereof the following sentence: 

From
the effective date of the Amendment through the Term of Employment, Employee shall be eligible to participate in the Company's 2001 Long-Term Incentive Plan (or any successor plan)
pursuant to the terms and conditions of such plan and on terms consistent with other executives of the Company. 

	e.
	Paragraph 12(c)
shall be deleted in its entirety and replaced with the following new subsection:

	(c)
	During
the Term of Employment, if the Company terminates Employee's employment, Employee shall be entitled to severance pay in accordance with Company's
Severance Pay Plan.

	f.
	The
first sentence of Paragraph 14 shall be deleted in its entirety and replaced with the following new sentence: 

Nowak
will sign the Company's Agreement Regarding Confidentiality and Competition under which, among other things, he agrees not to compete with the Company and its affiliate in the roofing business
by accepting employment with or providing consulting services to any manufacturer that competes with the Company or any of its affiliates during the Term of Employment and for a two-year
period thereafter commencing January 1, 2011, in consideration of which the
Company shall pay Nowak $180,000.00 at the rate of $7,500.00 per month during such two-year period.  

	g.
	Subsection (i)
of Paragraph 15 shall be deleted in its entirety and replaced with the following new subsection: 

(i)
From January 1, 2011 through December 31, 2011 (the "Consulting Term"), Employee would provide consulting services to the Company, provided that both Employee and the Company would
have the right to terminate the Consulting Term at any time, for any reason upon not less than 90 days prior written notice to the other party.  

	3.
	Effect
on Agreement.    Except as specifically set forth in this Amendment, the Agreement shall remain unmodified and
in full force and effect and is hereby ratified by Employee and Company.

	4.
	Effective
Date.    The terms of this Amendment shall become effective upon full execution of this Amendment.

	5.
	Counterparts.    This
Amendment may be executed in two counterparts, each of which shall be an original but both of
which together shall constitute one and the same instrument.

	6.
	Headings.    Headings
in this Amendment are for reference only, and shall not affect the interpretation or meaning of
any provision of this Amendment.

	7.
	Disputes.    Employee
and the Company agree to resolve any and all disputes that may arise over the terms of this
Amendment in accordance with the provisions of Paragraph 21 of the Agreement. 

        IN
WITNESS WHEREOF, the Parties have signed this Agreement on the dates set forth. 

							
	WITNESSED:	 	GAF Materials Corporation
	

 	
 	
/s/ CHRISTOPHER J. GAROFALO

 	
 	
By:	
 	
/s/ ROBERT TAFARO

 
	 	 	 	 	Name:	 	Robert Tafaro
	 	 	 	 	Title:	 	President and CEO
	
 Date:	
 	
May 18, 2009

 	
 	
Date:	
 	
May 18, 2009

 

 

							
	WITNESSED:	 	 	 	 
	

 	
 	
 /s/ JAN JERGER-STEVENS

  Jan Jerger- Stevens	
 	
 	
 	
/s/ RICHARD A. NOWAK

  Richard A. Nowak
	
 Date:	
 	
May 8, 2009

 	
 	
Date:	
 	
May 8, 2009

 

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EXHIBIT 10.1

AMENDMENT TO EMPLOYMENT AGREEMENT

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