Document:

EMPLOYMENT AGREEMENT

 

	
             
 	
            THIS AGREEMENT is dated for reference the 1st day of April 2006
 

 

BETWEEN:

 

EARTH SOURCE ENERGY, a company duly incorporated pursuant to the Federal laws of the Country of Canada and having its Principal offices at #101-5219 192nd Street, Cloverdale, B.C. V3S 4P6. 

 

(Herein called the “Employer”)

 

OF THE FIRST PART

 

AND:

 

STEVAN PERRY

 

(Herein called the “Employee”)

 

OF THE SECOND PART

 

WHEREAS:

 

	
            A.
 	
            The Employee is employed or is about to be employed by the Employer; and
 

 

B.            The Employer is in the business of sales, design, installation and servicing of Geothermal Heat Pumps; and

 

C.            The Employer has agreed to employ or continue to employ the Employee and the Employee has agreed to be employed or continue to be employed by the Employer on the terms and conditions hereinafter set forth.

 

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and the mutual covenants and agreements herein contained, the parties hereto covenant and agree each with the other as follows:

 

EMPLOYMENT

 

1.            The Employee will faithfully, honestly and diligently serve the Employer, in consideration of which the Employer will pay to the Employee remuneration to be established by the Employer from time to time, with at least an annual review. The position of the Employee and the basis of the initial remuneration of the Employee are as set out in the Schedule to this Agreement.

 

2.            During the term of his employment, the Employee shall perform and accept the duties assigned to him by the Employer from time to time based upon the needs of the Employer. 

 

DEVOTION OF TIME

 

3.            It is acknowledged and agreed by the Employee that the work of the Employee is and will be of such nature that regular hours may be impossible. It is anticipated that there will be certain evenings, Saturdays, Sundays, and holidays during which the Employee shall be requested or may volunteer to 

 

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work. The work of the Employee is of a supervisory or senior nature and accordingly the Employee agrees that the remuneration established by the Employer from time to time shall be in full and complete satisfaction for the Employee’s work and services no matter how and when performed, and the Employee hereby releases the Employer from any claims for overtime pay or compensation whatsoever which the Employee might have by reason of any existing or future legislation or otherwise.

 

TERMS OF EMPLOYMENT

 

4.            The employment of the Employee under this Agreement shall continue from the date of this agreement until this Agreement is terminated in accordance with its terms and provisions.

 

RULES AND REGULATIONS

 

5.            The Employee shall observe, comply and be bound by all rules, regulations and instructions of the Employer in force from time to time including, without limiting the generality of the foregoing, those which may from time to time be in force as set out in a Policies and Procedures Manual which may be written and utilized by the Employer from time to time herein called the “Manual”).

 

CONFIDENTIAL INFORMATION

 

6.            The Employee acknowledges that during the course of his employment with the Employer he will come into contact with various information and trade secrets (herein called the “Proprietary Information”), both written and unwritten, in connection with the business and activities conducted by the Employer, the technology utilized by the Employer, the equipment being utilized or developed, the marketing by the Employer, and the commercial activities of the Employer, including, without limiting the generality of the foregoing, providing technical support to customers to assist them in downloading specific computer software programs and to conduct certain credit card transactions, and new business ideas. The Employee acknowledges that the Proprietary Information is a special’ valuable,
and unique asset owned by the Employer.

 

7.            The Employee shall during the term of his employment and thereafter at all times treat the Proprietary Information strictly confidential and shall not communicate the Proprietary Information to any person, firm, corporation or business without the Employer’ prior written consent.

 

8.            The Employee shall not use the Proprietary Information, during the term of his employment or at any time thereafter, as a basis for or ancillary to the conducting of a similar business or activity to that of the Employer or for any other purpose other than in connection with his employment hereunder, without first obtaining the Employer’ prior written consent.

 

9.            The Employee shall not make copies of any computer files, documents, materials or other information included in or relating to the Proprietary Information without the Employer’s prior written consent. The Employee shall immediately upon demand by the Employer return to the Employer all computer files, documents, materials or other information and all copies thereof or any materials arising out of the foregoing and shall not retain any copies thereof for any purpose.

 

NON-COMPETITION WITH EMPLOYER

 

10.          During the term of the employment of the Employee the Employee agrees to devote his best efforts and entire working time to further the interest of the Employer, and the Employee shall not during such term of employment or for a period of three (3) years after termination of such employment, within a one hundred (100) mile radius of the City boundaries of the City of Cloverdale, British Columbia, directly or indirectly in any capacity whatsoever, directly or indirectly, alone or in association with any other 

 

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person’ firm, partnership, association or corporation, or as employee, officer, director or stockholder of any other person, firm, partnership, association or corporation, be engaged in or be financially interested in any commercial activity competitive with the Employer or continue or assume any other corporate affiliations without the prior written consent of the Employer. This excludes the purchase by the Employee of any publicly traded stock purchased in the usual manner at the current market price.

 

11.          The Employee further agrees that for a period of two (2) years after termination of his employment the Employee shall not, except with the prior written consent of the Employer, on behalf of himself or any other person or any firm or corporation solicit business from any person, firm or corporation who or which shall at any time during the Employee’s employment with the Employer have been a customer of the Employer or of any of its subsidiaries or affiliates, provided always that the provisions of this clause shall not prohibit the Employee from soliciting business from any such customer if such business is in no way similar to the business carried on by the Employer or any of its subsidiaries or affiliates.

 

REMEDIES IN THE EVENT OF BREACH

 

12.          In recognition of the irreparable harm that a violation of this Agreement would cause the Employer, the Employee agrees that in addition to any other relief afforded by law, an injunction against such violation or violations may be issued against him and every other person connected thereby and the parties acknowledge that both damages and injunctive relief shall be proper modes of relief and are not to be considered alternative remedies.

 

13.          In the event of any such violation, the Employee agrees to pay all reasonable solicitor’s costs incurred by the Employer on a solicitor and own client basis as well as all disbursements and court costs incurred by the Employer in pursuing any of its rights with respect to such violation, in addition to any damages suffered by the Employer.

 

14.          The Employee acknowledges that all of the covenants and conditions of this Agreement are reasonable and necessary for the protection of the Employer’s business operations and activities.

 

15.          The Employee acknowledges that he has been advised to and afforded an opportunity to obtain independent legal advice in connection with the contents and the advisability of executing this Agreement. The Employee acknowledges that either he has obtained such advice or decided to forego the obtaining of such advice.

 

TERMINATION

 

16.          The Employer may terminate the employment of the Employee under this Agreement without cause and without notice during the probationary period comprising the first three (3) months of the Employee’s employment with the Employer.

 

17.          The Employer may terminate the employment of the Employee under this Agreement summarily for cause or at any time without cause but in the event of termination without cause, the Employer shall at its option either:

 

	
             
 	
            (a)
 	
            Give the Employee written notice for Notice Period (as hereinafter defined); or
 

	
             
 	
            (b)
 	
            Pay the Employee a payment equal to the aggregate salary which the Employee would have earned during the Notice Period; or
 

	
             
 	
            (c)
 	
            Continue the salary due to the Employee during the Notice Period;
 

 

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18.          The Employee agrees, understands and accepts as reasonable that in any case other than for cause his employment under this Agreement may be terminated regardless of the position that he holds with the Employer, his age or employment prospects at the time of termination by the Employer at any time upon written notice or payments in lieu of notice pursuant to the preceding paragraph, during the Notice Period (in this Agreement referred to as the “Notice Period”) as follows:

 

	
             
 	
            (a)
 	
            Two (2) weeks notice where, the Employee has completed a period of employment of at least three (3) consecutive months;
 

	
             
 	
            (b)
 	
            Three (3) weeks notice where, the Employee has completed a period of employment of at least two (2) consecutive years, and
 

	
             
 	
            (c)
 	
            One (1) additional weeks notice for each subsequent completed year of employment up to a maximum of twenty - four (24) weeks notice.
 

 

19.          In the event that the Employee shall at any time during the term hereof by reason of illness or mental or physical disability or incapacity be prevented from or incapable of performing the Employee’s duties hereunder, then the Employee shall not be entitled to receive remuneration for the period during which such incapacity shall continue. If such incapacity shall continue for longer than three (3) successive months then the employment of the Employee hereunder shall, at the option of the Employer, forthwith terminate, and the Employee shall not be entitled to any compensation from the Employer in respect of such termination.

 

20.          The Employee shall give the Employer two (2) weeks notice of termination of his employment under this Agreement.

 

RETURN OF MATERIALS AT TERMINATION

 

21.          In the event of any termination of the employment of the Employee under this Agreement, the Employee will promptly deliver to the Employer, or any subsidiary designated by the Employer, all documents, data, records and other information pertaining to his employment hereunder, and the Employee shall not take any documents or data, or any reproduction or excerpt of any documents or data containing or pertaining to the Employer.

 

PERSONAL CONTRACT

 

22.          This Agreement and all other rights, benefits privileges herein contained shall be personal and accordingly, may not be assigned by the Employee

 

23.          Any notice, payment or other communication required or permitted to be given or served pursuant to this Agreement shall be in writing and shall be delivered personally or mailed in British Columbia by registered post prepaid addressed as follows:

 

If to the Employer:

 

EARTH SOURCE ENERGY

#150 – 4620 Viking Way

Richmond B.C.

V6L 5Y6 Canada

 

If to the Employee

 

STEVAN PERRY

_____________________

 

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_____________________

 

or at such other addresses as may from time to time, be notified in writing by either of the parties. Any such notice shall be deemed to have been given, if delivered by hand, on the day delivered and if mailed, three (3) business days following the day of posting; provided that if there shall be at the time of mailing or between the time of mailing and actual receipt of the notice of a mail strike, slow down or other labor dispute which might affect delivery of the notice by mail, then such notice shall be effective only if actually delivered.

 

GENERAL

 

24.          The provisions herein contained constitute the entire Agreement between the parties and supersede all the previous communications, representations and agreements whether verbal or written, between the parties with respect to the subject matters hereof.

 

CAPTIONS

 

25.          The captions, appearing in this Agreement have been inserted for reference and as a matter of convenience only and in no way define, limit or enlarge the scope or meaning of this Agreement or any provisions hereof.

 

INTERPRETATION

 

26.          All references to any party to this Agreement shall be read with such changes in number and gender as the context hereof or reference to the party shall require.

 

JURISDICTION

 

27.          The proper law of this Agreement shall be the law of the Province of British Columbia, whose courts shall have the exclusive jurisdiction to interpret this Agreement or determine any dispute arising out of the performance of its terms or conditions.

 

INVALIDITY

 

28.          To the extent that any of the provisions set forth herein, or any work, phrase, clause or sentence thereof shall be found to be illegal or unenforceable for any reason, such agreement, word, phrase, or sentence shall be modified or deleted in such manner so as to make the Agreement as modified legal and enforceable under the applicable laws, and the balance of the Agreement or any part thereof shall not be affected thereby, the balance being construed as severable and independent.

 

AMENDMENT

 

29.          No alteration or amendment of this Agreement shall take effect unless the same is in writing duly executed by each of the parties in the same manner as this Agreement.

 

ENUREMENT

 

30.          This Agreement shall enure to the benefit of and be binding upon the parties and their respective heirs, executors, administrators, successors and permitted assigns.

 

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

 

	
            THE CORPORATE SEAL OF
 	
            )
 	
             
 
	
             
 	
            )
 	
             
 
	
            EARTH SOURCE 
 	
            )
 	
             
 
	
            ENERGY, INC.
 	
            )
 	
             
 
	
            was affixed hereto in the presence of:
 	
            )
 	
             
 
	
            /s/ Jason McDiarmid
 	
            )
 	
             
 
	
            Authorized Signatory
 	
            )
 	
             
 
	
            /s/ Peter Bond
 	
            )
 	
            c/s
 
	
            Authorized Signatory
 	
            )
 	
             
 
	
             
 	
            )
 	
             
 
	
            SIGNED, SEALED AND DELIVERED
 	
            )
 	
             
 
	
            by
 	
            )
 	
            /s/ STEVAN PERRY
 

 

 

SCHEDULE “A”

 

To EMPLOYMENT AGREEMENT dated the 1st day of April 2006.

 

Contract Terms:

 

Essential Innovations Corporation

 

	
            Employee:
 	
            STEVAN PERRY
 
	
             
 	
             
 
	
            Position:
 	
            V.P. Geoexchange Systems Integration
 
	
             
 	
             
 
	
            Term:
 	
            April 1st, 2006 to April 1st, 2009; the salary may be re-negotiated for the third year extension
 
	
             
 	
             
 
	
            Basic Salary:
 	
            First year            USD $126,000
 
	
             
 	
            Second year       USD $138,600
 
	
             
 	
             
 
	
            Shares:
 	
            250,000 common shares (144 stock) in Essential Innovations Technology Corp. (USA Parent Public Company) to be issued at the start date of this Agreement; May 1st, 2006 Under Rule 144, the shares issued may be sold 1 year after the date of issuance, that date being May 1, 2007, under a letter of Legal Opinion to be provided by the Company securities counsel
 
	
             
 	
             
 
	
            Cashless Warrants:
 	
            250,000 cashless warrants in Essential Innovations Technology Corp. (USA Parent Public Company) to be issued at the start date of this Agreement and priced based on the market at that date, that price being $0.53/share; these warrants have a 5 year life from the issuance date of April 1, 2006
 
	
             
 	
             
 
	
            Incentive Bonus:
 	
            A 1.0% bonus of Earth Source Energy EBITDA (paid quarterly) payable in Cash
 
	
             
 	
             
 
	
            Benefits:
 	
            -  Vehicle allowance or vehicle + operating costs
 
	
             
 	
            -  Group health / dental (for self and family) + life insurance 
 
	
             
 	
            -  Payment of Company Cell Phone
 
	
             
 	
            -  Any other benefits that the Company may implement for similar position
 
	
             
 	
            -  Reimbursement of pre-approved business expenses
 
	
             
 	
            -  Pay for professional association dues (if necessary)
 
	
             
 	
            -  Pay for required continuing professional education
 
	
             
 	
            -  Paid vacation of 4 weeks per year
 
	
             
 	
            -  Participation in any further standard employee option plan that may be instituted by ESIVSEVERANCE AGREEMENT

 

THIS SEVERANCE AGREEMENT (the “Agreement”), is made and entered into this 1st day of April, 2006 (the “Effective Date”) by and between Essential Innovations Technology Corp., a Nevada corporation with its principal place of business at #142 – 114 West Magnolia Street, Suite 400, Bellingham, WA, USA 98225 (“Essential” or the “Company”), and [Employee Name] (“[Employee Name]” or the “Employee”). 

 

RECITALS

 

WHEREAS, Employee has been, and is currently, employed by the Company in a critical managerial position with the Company; 

 

	
             
 	
            WHEREAS, Employee is currently employed by the Company on an at-will basis; and
 

 

WHEREAS, Employee and the Company each believe it to be in their best interests to provide Employee with certain severance protections and accelerated option vesting in certain circumstances 

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

 

1.    Employment. The Company hereby agrees to continue Employee’s current employment as its [position] unless terminated earlier in accordance with provisions contained herein below. The Employee shall be subject to the supervision of, and shall have such authority as is delegated to her by, the Chief Executive Officer or the Board of Directors (the “Board”), as the case may be. 

 

	
             
 	
            2.
 	
            Effect of Termination.   
 

 

	
             
 	
            2.1
 	
            Termination at the Election of the Company or the Employee for Good Reason. 
 

 

For the purposes of this Section 2.1, “good reason” shall be deemed to exist when there occurs: (A) a material change in the reporting responsibilities of the Employee to someone other than the Chief Executive Officer or the Board; (B) a substantial diminution of the Employee’s responsibilities; (C) any reduction in the Employee’s level of compensation without the approval of the Employee; or (D) a difference in professional opinion between Employee and the President and CEO regarding including or excluding disclosure in the Company’s financial regarding some item or event such that the Employee believes certifying the financial statements would be a violation of federal securities laws.

 

(a)   the conviction of the Employee of, or the entry of a pleading of guilty or nolo contendere by the Employee to, any crime involving moral turpitude that may reasonably adversely reflect on the Company or any felony; 

 

(b)   willful misconduct in connection with the Employee’s duties or willful failure to use reasonable effort to perform substantially her responsibilities in the best interest of the Company (including, without limitation, breach by the Employee of this Agreement), except in cases involving the mental or physical incapacity or disability of the Employee; provided however, that the Company may terminate the Employee’s employment pursuant to this subsection (b) only after the failure by the Employee to correct or cure, or to commence and 

 

continue to pursue the correction or curing of, such refusals within 30 days after receipt by the Employee of written notice by the Company of each specific claim of any such misconduct or failure. The Employee shall have the opportunity to appear before the Board to discuss such written notice during such 30-day period. “Willful misconduct” and “willful failure to perform” shall not include actions or inactions on the part of the Employee that were taken or not taken in good faith by the Employee; and 

 

(c)   fraud, material dishonesty, or gross misconduct in connection with the Company perpetuated by the Employee.

 

Under this Section 2.1 the Employer will be responsible to meet the following compensation obligations: 

 

(i)    the Employer shall pay the Executive all Accrued Compensation and a Pro Rata Bonus;

 

(ii)   the Employer shall pay the Executive as severance pay and in lieu of any further compensation for periods subsequent to the Termination Date, in a single payment an amount in cash equal to three (3) times the sum of (A) the Base Amount and (B) the Bonus Amount; provided, however, if an employment agreement is in existence between the Company and the Executive on the Termination Date, any amount due the Executive under this Section 3(b)(ii) shall be reduced by the amount of Base Amount and Bonus Amount paid as severance pay to Executive pursuant to such employment agreement in lieu of compensation for periods subsequent to the Termination Date.

 

(iii)  If the Employee’s employment is terminated (i) other than for cause (as defined hereinbelow) by the Company or (ii) by the Employee for good reason (as defined hereinbelow), the Company shall pay to Employee an aggregate severance amount equal to 300% of the Employee’s annual base salary in effect as of the date of such termination (i.e., twelve months’ base salary and such amount being referred to as the “Severance Amount”). The Severance Amount must be made in a single lump sum amount. Payment of the Severance Amount shall be contingent upon the Employee signing a “Release and Waiver Agreement.” 

 

(iv)  In addition for thirty (30) months following the Termination Date, (the “Continuation Period”), the Employer shall at its expense continue on behalf of the Executive and his dependents and beneficiaries the medical, dental, life, disability and hospitalization benefits provided (A) to the Executive at any time during the 90-day period prior to the Change in Control or at any time thereafter (and if different benefits were paid during such period, such of those benefits as are elected by the Executive) or (B) to other similarly situated executives who continue in the employ of the Company during the Continuation Period. The coverage and benefits (including deductibles and costs) provided in this Section 3(b)(iii) during the Continuation Period shall be no less favorable to the Executive and his dependents and beneficiaries than the most favorable
of such coverages and benefits during any of the periods referred to in clauses (A) and (B) above. The Employer’s obligation hereunder with respect to the foregoing benefits shall be compromised to the extent that the Executive obtains any such benefits pursuant to a subsequent employer’s benefit plans, in which case the Employer may reduce the coverage of any benefits it is required to provide the Executive hereunder as long as the aggregate coverages and benefits of the combined benefits plans is no less favorable to the Executive than the coverages and benefits required to be provided hereunder. This subsection (iii) shall not be interpreted so as to limit any benefits to which the Executive, 

 

his dependents or beneficiaries may be otherwise entitled under any of the Company’s employee benefit plans, programs or practices following the Executive’s termination of employment, including without limitation, retiree medical and life insurance benefits;

 

For the purposes of this Section 2.1, termination “without cause” shall be deemed to exist upon: 

 

(A)  any termination of the employment of Executive by the period commencing on or after the date that the Company first publicly announces a definitive agreement that would result in a Change of Control (even though still subject to approval by the Company’s stockholders and other conditions and contingencies) and ending on the date which is twelve (12) months following a Change of Control; or 

 

(B)  any resignation by Executive based on a Diminution of Responsibilities where (i) such Diminution of Responsibilities occurs during the period commencing on or after the date that the Company first publicly announces a definitive agreement that would result in a Change of Control (even though still subject to approval by the Company’s stockholders and other conditions and contingencies) and ending on the date which is twelve (12) months following the Change of Control, and (ii) such resignation occurs within one-hundred and twenty (120) days following such Diminution of Responsibilities. 

 

	
             
 	
            2.2
 	
            Extension of Option Exercise Period; Acceleration of Option Vesting.
 

 

i)      All theretofore unvested share options, restricted options, restricted share and other awards issued to the Executive pursuant to the Company’s Share Option and Share Award Plan, and all unvested benefits under any split dollar life insurance policies insuring the Executive’s life, shall immediately become 100% vested; and

 

ii)     A payment from the Employer equal to the unvested amount contained in the Executive’s accounts in the Company’s 401(k) plan (or any other qualified plan of the Company or an affiliate) which he or she will forfeit as a result of his or her termination.

 

DEFINITION

 

For purposes of this Agreement a “Change of Control Event” shall be deemed to exist if there occurs either: 

 

(a)   “Change of Control” means (a) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than a trustee or other fiduciary holding securities of the Company under an employee benefit plan of the Company, becomes the “beneficial owner” (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of (A) the outstanding shares of common stock of the Company or (B) the combined voting power of the Company’s then-outstanding securities; 

 

(b)   the Company is party to a merger or consolidation, or series of related transactions, which results in the voting securities of the Company outstanding immediately prior thereto failing to continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving or another entity) such percentage of the combined voting power of the voting securities of the Company or such surviving or other entity outstanding immediately after 

 

such merger or consolidation that could in fact effectuate immediate decision making power over the Company; 

 

(c)   the sale or disposition of all or substantially all of the Company’s assets (or consummation of any transaction, or series of related transactions, having similar effect); 

 

(d)   there occurs a change in the composition of the Board of Directors of the Company within a two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors; 

 

	
             
 	
            (e)
 	
            the dissolution or liquidation of the Company; or
 

 

(f)    any transaction or series of related transactions that has the substantial effect of any one or more of the foregoing. 

 

	
             
 	
            3.
 	
            Gross Up for Tax Treatment. The Company agrees that if
 

 

(a)   because of the operation of any of the provisions of this Agreement, the payments to be made to Employee and the acceleration of option vesting hereunder are deemed “golden parachute payments” under the Internal Revenue Code of 1984, as amended, and 

 

	
             
 	
            (b)
 	
            Employee is obligated to pay an excise tax associated with such golden parachute payments,
 

 

the Company shall reimburse the Employee in full for both (i) the amount of any such excise tax owed upon such golden parachute payments and (ii) any excise or ordinary income taxes owed in connection with the payment of the amount described in the preceding clause (i) (such payments being referred to as the “gross up amounts”). 

 

4.    Entire Agreement. This Agreement and the exhibits hereto constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement. 

 

5.    Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the Employee. 

 

6.    Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the laws of the State of Washington. 

 

7.    Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and assigns, including any corporation with which or into which the Company may be merged or which may succeed to its assets or business, provided, however, that the obligations of the Employee are personal and shall not be assigned by him. 

 

8.    Waiver of Jury Trial. The parties agree that they have waived their right to a jury trial with respect to any controversy, claim, or dispute arising out of or relating to this Agreement, or the breach thereof, or arising out of or relating to the employment of the Employee, or the termination thereof, including any claims under federal, state, or local law, and that any such controversy, claim, or dispute shall be heard and adjudicated in the state courts of the State of Washington. 

 

IN WITNESS WHEREOF, the parties hereto have executed this Severance Agreement as of the day and year set forth above. 

 

ESSENTIAL INNOVATIONS TECHNOLOGY CORP.

By:  /s/ Jason McDiarmid, Chief Executive Officer

By:  /s/ Ken Telford, Chief Financial Officer 

 

EMPLOYEE 

By:  /s/ [Employee Name]

 

SCHEDULE OF SEVERANCE AGREEMENTS

 

	
            Employee Name
 	
            Position
 
	
             
 	
             
 
	
            Jason McDiarmid*
 	
            President/Chief Executive Officer
 
	
            Ken Telford
 	
            Chief Financial Officer
 
	
            Steve Wuschke
 	
            Chief Technical Officer
 
	
            Peter Bond
 	
            Chief Operating Officer
 
	
            Stevan Perry
 	
            V.P. Geoexchange Systems Integration
 

 

____________________

	
            *
 	
            Steve Wuschke, CTO and Peter Bond, COO, signed on behalf of Essential Innovations Technology Corp.

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