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	FastCash Dominica – Roseau, 25 King George V Street Anse de Mai, Dominica	__________________
	Tel: (767) 448-3278, Fax: (767) 448-5778, Emal dominica@fastcash.dm	 
	 	 

SALARY DEDUCTION AUTHORIZATION

	 	 	 

       I hereby request that you deduct from my salary                   
  by deduction                       Monthly for a period of 
                Month(s) (the first deduction to be made on the                               
 ) and thereafter on each payroll day of your company as provided. The last deduction shall be made on the 
                          and these amounts be paid directly to FastCash Dominica Ltd.     

     I further Request that should my employment with                                              cease or to be terminated before full payment of the said                       the whole balance then outstanding be deducted from any salary and benefits owed to me upon termination of my employment and be paid forthwith to FastCash Dominica Ltd.

       These deductions shall be made in preference to any other deduction from my salary besides those payable                                                                                      .

 

	 	 	 

 

                         I ___________________________________ (name), accountant/manager/votes clerk (circle position) of                                hereby agree to make such salary deductions as requested above and to pay  all amounts as per the said request. 

 

	(Signature)	 	(Date)	 	(Company Stamp)

This agreement shall be binding upon the parties here to until full payment of                          to FastCash Dominica Ltd. and shall not be subject to change by either or both parties without prior written approval of FastCash Dominica Ltd.

	 	 	 	 	 	 	 
	 	 	Announcer	 	ofa2.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

	Tel: (767) 448-3278, Fax: (767) 448-5778, Email dominica@fastcash.dm	________________________
	FastCash Dominica – Roseau, 25 King George V Street Anse de Mai, Dominica	 

  

  SALARY CONFIRMATION AUTHORIZATION                                      

  

This is to certify that the following information listed below is true and correct:  

                                          is employed at                                           as A                                  and does not work on commission. 

 

	DESCRIPTION  	 	DATA ENTERED BY EMPLOYEE	 	CORRECTIONS 
	
Employment Date 	 	 	
	 	 	 
	
Social Security # 	 	 	
	 	 	 
	
Salary Payment Method 	 	 	 
	 	 	 
	
Salary Payment Frequency 	 	 	
	 	 	 
	Salary  	 	 	 	 	 	 
	Overtime  	 	 	
	 	 	 
	Allowance  	 	 	
	 	 	 
	
Total Income 	 	 	 	 	 	 
	
Income Tax / PAYE 	 	 	 	 	 	 
	
Social Security 	 	 	 	 	 	 
	
Other Govt. Deduction 	 	 	 	 	 	 
	Loans 1 	 	 	 	 	 	 
	Loans 2  	 	 	 	 	 	 
	
Hire Purchase 1 	 	 	 	 	 	 
	
Hire Purchase 2 	 	 	 	 	 	 
	
Insurance Life 	 	 	 	 	 	 
	
Insurance Health 	 	 	 	 	 	 
	Savings 	 	 	 	 	 	 
	
Other Deductions 	 	 	 	 	 	 
	
Take Home Pay 	 	 	 	 	 	 

 

 

I_______________ (name), _______________ (position) of                                         certify the above stated information to be true and correct to the best of my
knowledge.

 

	
Authorized Signature	 	Date	 	Company StampSERVICES
AGREEMENT

          THIS SERVICES AGREEMENT (this
“Agreement”) is made and entered into on this day of June, 2008, between FastCASH ST LUCIA LIMITED, a corporation
organized and existing under the laws of St Lucia, having its registered
office at Lower Morne Road, Castries, St Lucia, (the “Company”) of the FIRST PART, TAX & CORPORATE LAW
OFFICES a corpo­ration organized and existing under the
laws of St Lucia, having its registered office at Lower Morne Road, Castries,
St Lucia (“TCL”), of the
SECOND PART, AND RUDOLPH FRANCIS
and CHERYL FRANCIS of Castries,
St. Lucia (jointly and severally, the “Executives”)
of the THIRD PART.

RECITALS

          WHEREAS,
the Company is engaged in the payday loan
business of advancing short term loans to borrowers secured by the pledge of
the respective borrowers’ expected salary payment (the “Business”); and

          WHEREAS,
TCL, through the services of its authorized agents Rudolph Francis and Cheryl
Francis (the “Executives”), has
expertise in managing and operating businesses similar to the Business; and

          WHEREAS,
the Company desires to engage TCL to manage and operate the Business
specifically through services to be provided by the Executive of the Company
through TCL and to perform other duties which may be assigned from time to time
by the Board of Directors of the Company or its designee (the “Board”) in its/his discretion; and

          WHEREAS,
the parties desire to enter into this Agreement to be effective from and after
the date hereof.

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

          1.          Engagement.

                       (a)          Agreement
to Engage. Upon the terms and subject to the conditions of this Agreement,
the Company hereby engages TCL and TCL hereby accepts such engagement by the
Company.

                       (b)          Term
of Engagement. Subject to Section 8, the engagement under this Agreement
shall be for a three year period commencing the 1st of May, 2008 and
ending the 30th day of April, 2011, with an option to renew the
engagement in accordance with clause 10 hereof. The period during which this
Agreement is effective, including any renewal thereof, shall be referred to as
the “Engagement
Period.”

          2.          Position
and Duties.

                       (a)          During
the Engagement Period, TCL shall be responsible for personnel management,
facilities and equipment management, and financial performance Without limiting
the generality of the foregoing, TCL shall be responsible for determining the
credit worthiness of customers of the Company’s services in accordance with the
guidelines of the Company Manual. 

                       (b)          TCL
agrees that the Executives shall provide the services hereunder to the Company
on behalf of TCL and the Executives hereby agree to act in such capacity in accordance
with the terms hereof. TCL shall cause the Executives to, and the Executives,
shall diligently and conscientiously perform their obligations under this
Agreement and shall devote their best efforts in discharging their duties
hereunder and to affiliates of the Company, as shall be determined by the
Company (the “Affiliates”),
pursuant to the terms of services agreements similar to this Agreement entered
into with any Affiliate.

          3.          Remuneration

                       (a)          The
Company shall pay TCL in accordance with the Agency Fee Structure set out in
the Schedule hereto. 

                       (b)          Deductions.
For purposes hereof, “Bad Debt”
means any outstanding amount due to the Company from a customer (i) whose
installment payments are in arrears of 120 days or more, (ii) who has filed for
bankruptcy or other creditor protection or has had a bankruptcy or any similar case commenced against it, or (iii) against
whom the Company has commenced legal proceedings. If, at the end of any fiscal
year of the Company the Bad Debts exceed 7% of the gross revenue of the Company
then an amount equal to 50% of the amount in excess of 7% classified as Bad
Debt shall be deducted from the gross revenue and withheld by the Company from
the Agency Fee payment next due and any succeeding payment(s) until offset in
full. Upon recovery of Bad Debts, any amounts withheld under this clause shall
be refunded to the Company and shall be added to the next due Agency Fee
payment. The parties will review this Bad Debt deduction annually.

          4.          Delinquency
The “Delinquency rate” shall be the rate of payments in arrears by more than
one day at any given time out of the total loan repayments receivable. In the
event that TCL’s delinquency rate should exceed 8% at any given time the
Company shall notify TCL in writing of such excess and TCL shall within 60 days
of such written notification reduce the delinquency rate to 8% or less. 

          5.          Business
Expenses. 

                       (a)          The
Company shall reimburse TCL for all Marketing costs and expenses pre-approved
by the Company. All other operating costs and expenses, including salaries,
utilities, rent, incurred by TCL during and in the course of fulfillment of
their obligations under this Agreement shall be for TCL’s account.

                        (b)          The
Executives shall be signatory and have access to the Company’s chequing account
No. 100-765-7 at the Royal Bank of Canada, Castries, St Lucia. At no time shall
any withdrawals be made from this account by the Executives except for the 

- 2 -

purposes of paying expenses pre-approved by the
Company or for refunding monies paid by or on behalf of customers or former
customers which monies and/or payments were not due to the Company.

          6.          Loan
Approval TCL shall approve and disburse loans in accordance with the
guidelines set out in the Company Manual. No loans shall be approved and/or
disbursed by TCL unless the necessary pre-conditions set out in the said Manual
are met except with the prior approval of the CEO of the Company. 

          7.          Appointment
of Administrator. 

                    
  (a)          Any
breach by TCL of any of the covenants of this Agreement shall entitle the
Company to appoint whomsoever it shall deem fit to physically enter into TCL’s
place of business upon five (5) working days written notice from the Company
and to administer, manage, supervise, and/or oversee the administration of this
Agreement. And TCL agrees to allow any person so appointed to enter into its
place of business for such purposes and shall give such person full access to
all records, accounts, books, receipts, invoices and any other documents
relevant to and/or in connection with the business of the Company and the
administration of this Agreement PROVIDED however that the Company’s exercise
of its rights under this clause shall not be construed as a waiver of any of
its rights and/or obligations under this Agreement and nothing therein shall
prevent either party from exercising any right arising as a result of any
breach by the other party of any covenant of this Agreement including but not
limited to their right to terminate under clause 8 hereof.

          8.          Termination
of Engagement 

                       (a)          TCL’s
engagement and any obligations of the Company to the Executives will be
terminated upon the last day of the Engagement Period should the parties not
exercise the option to renew provided for in clause 11 hereof.

                       (b)          The
Company may forthwith terminate TCL’s engagement for its failure and/or neglect
to fulfill its obligations under this Agreement to the Company, or for any
conduct by TCL or the Executives that is in breach of the covenants of this
Agreement or which is injurious to the Company monetarily or otherwise
(including conduct that constitutes competitive activity pursuant to Section 11
hereof). 

                       (c)          TCL
may, without incurring liability or forfeiting any compensation or benefit
provided hereunder, terminate this Agreement for failure by the Company to
comply with any material provision of this Agreement which has not been cured
within 30 days after written notice of such noncompliance has been given by the
Executive to the Company.

                       (d)          TCL
or the Company may terminate TCL’s engagement and any obligations of the
Company to the Executives by giving to the other party six months’ advance
written notice of such termination. 

                       (e)          Termination
under clause 8(b) or (c) of this Agreement by the Company or TCL, respectively,
shall be effected by that party giving to the other party 30 

- 3 -

days prior written notice of the termination. Each
such notice shall indicate the specific termination provision of this Agreement
relied upon and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of this Agreement
under the provision so indicated PROVIDED ALWAYS that termination of this
Agreement by either party shall not prejudice any right of action of either
party in respect of any breach by the other party of its covenants herein
contained. 

          9.          Effect
of Termination. In the event that this Agreement is termi­nated for any
reason, TCL shall be paid on the 1st working day of the following
month after the date of termination all compensation, and reimbursement of all
pre-approved Marketing expenses for the Engagement Period accruing through to
the effective date of termination.
Neither TCL nor the Executives shall be entitled to any additional payment.

          10.          Option
to Renew. The Company may upon the written request of TCL served on the
Company not less than 3 months and not more than 6 months before the expiration
of this agreement and if there shall not at the time of the service of such
request be any existing breach or non-observance of any of the covenants on the
part of TCL renew the Engagement Period. The new Engagement Period shall begin
from the expiration of this Agreement and shall be for such period and upon
such terms of remuneration as the parties may agree, all other provisos and
covenants shall be as are herein contained with the exception of the present
covenant for renewal. 

          11.          Restrictive
Covenants.

                        (a)          Non-competition.
During the Engagement Period, and for a period of two years thereafter, neither
TCL nor the Executive will, directly or indirectly, either as principal, agent,
employee, or in any other capacity, enter into or engage in any business in
which the Company is engaged during the Engagement Period except on behalf of
the Company or an Affiliate. During the Engagement Period and for a period of
two years thereafter, neither TCL nor the Executive will, directly or
indirectly, either as principal, agent, employee, or in any other capacity,
solicit any person or entity who is or was a customer of the Company at any
time during the 12 months preceding the end of the Engagement Period.

                   
     (b)          CONFIDENTIALITY.
DURING THE ENGAGEMENT PERIOD AND AT ALL
TIMES AFTER THE TERMINATION OF THIS AGREEMENT FOR ANY REASON, NEITHER TCL NOR
THE EXECUTIVE WILL, DIRECTLY OR INDIRECTLY, DISCLOSE TO ANY THIRD PARTY ANY
TRADE SECRETS, CUSTOMER LISTS OR OTHER CONFIDENTIAL INFORMATION PERTAINING TO
THE BUSINESS OF THE COMPANY.

                        Company
Property

                        (c)          TCL
agrees to use the logos, trade names and/or trade marks of the Company solely
in connection with and in relation to the business of the Company and for the
purposes of administering this Agreement. TCL further agrees that all logos,
trade names and/or trade marks of the Company shall remain the property of the
Company and upon the termination of this Agreement, for any reason, TCL and the
Executives shall forthwith cease to use such logos, trade names and/or trade
marks of the Company. 

- 4 -

                       (d)          All
customer loan files in TCL’s possession, any monies collected as a result of
and/or in relation thereto and any files in connection with the disbursement
and/or repayment of any loans issued under this Agreement are and remain the
property of the Company during and after the engagement period. Within 24 hours
of the termination and/or expiration of this Agreement TCL shall return to the
Company all such files complete with all receipts, deposit slips, vouchers,
cash summaries and any other documents issued and/or received in relation to
the administration of such loans, including originals and any copies thereof in
TCL’s or the Executives’ possession or under their respective control,
including all confidential information and trade secrets, in whatever media or
in whatever form.

                       (e)          Non-solicitation
of Employees. During the Engagement Period and for a period of two years
thereafter, neither TCL nor the Executive shall, directly or indirectly, induce
any employee of the Company or any of its affiliates to terminate employment with
such entity, and will not directly or indirectly, either individually or as
owner, agent, employee, consultant or otherwise, employ or offer employment to
any person who is or was employed by the Company or a subsidiary thereof except
on behalf of an Affiliate or unless such person shall have ceased to be
employed by such entity for a period of at least three months.

              
         (f)          INJUNCTIVE
RELIEF WITH RESPECT TO COVENANTS. TCL AND THE EXECUTIVE ACKNOWLEDGE
AND AGREE THAT THE COVENANTS AND OBLIGATIONS OF TCL AND THE EXECUTIVE WITH
RESPECT TO NON-COMPETITION, NON-SOLICITATION, CONFIDENTIALITY AND COMPANY
PROPERTY RELATE TO SPECIAL, UNIQUE AND EXTRAORDINARY MATTERS AND THAT A
VIOLATION OF ANY OF THE TERMS OF SUCH COVENANTS AND OBLI­GATIONS WILL CAUSE THE
COMPANY AND ITS SUBSIDIARIES IRREPARABLE INJURY FOR WHICH ADEQUATE REMEDIES ARE
NOT AVAILABLE AT LAW. THEREFORE, TCL AND THE EXECUTIVE AGREE THAT THE COMPANY
AND ITS SUBSIDIARIES SHALL BE ENTITLED TO AN INJUNCTION, RESTRAINING ORDER OR
SUCH OTHER EQUITABLE RELIEF AS A COURT OF COMPETENT JURISDICTION MAY DEEM
NECESSARY OR APPROPRIATE TO RESTRAIN TCL OR THE EXECUTIVE FROM COMMITTING ANY
VIOLATION OF THE COVENANTS AND OBLIGATIONS CONTAINED IN THIS SECTION. THESE
INJUNCTIVE REMEDIES ARE CUMULATIVE AND ARE IN ADDITION TO ANY OTHER RIGHTS AND
REMEDIES THE COMPANY OR ITS SUBSIDIARIES MAY HAVE AT LAW OR IN EQUITY. IN THE
EVENT (I) THE ENFORCEABILITY OF ANY OF THE COVENANTS CONTAINED IN THIS SECTION
IS CHALLENGED BY TCL OR THE EXECUTIVE IN ANY JUDICIAL PROCEEDING, (II) TCL AND
THE EXECUTIVE ARE NOT ENJOINED IN SUCH PROCEEDING FROM BREACHING SUCH COVENANT,
AND (III) TCL AND THE EXECUTIVE DO, IN FACT, BREACH SUCH COVENANT, THEN, IF A
COURT OF COMPETENT JURISDICTION DETERMINES THAT THE CHALLENGED COVENANT IS
ENFORCEABLE, THE TIME PERIOD SET FORTH IN SUCH COVENANT SHALL BE DEEMED TOLLED
UPON THE INITIATION OF SUCH PROCEEDING UNTIL THE DISPUTE IS FINALLY RESOLVED
AND ALL PERIODS OF APPEAL HAVE EXPIRED. 

          12.          Miscellaneous.

                         (a)          Binding
Effect. This Agreement shall be binding on and inure to the benefit of the
Company and any person or entity which suc­ceeds to the interest of the Company
(regardless of whether such succession occurs by operation of law, by reason of
the sale of all or a portion of the Company’s stock or assets or a merger,
consolidation or 

- 5 -

reorganization involving the Company). This Agreement
shall also be binding on and inure to the benefit of TCL and the Executive.

                        (b)          Assignment.
Neither this Agreement nor any of the rights or obligations hereunder shall be
assigned or delegated by any party hereto without the prior written consent of
the other parties.

                        (c)          Company
Manual The Company Manual shall form part of this Agreement and by
executing this Agreement TCL agrees to be bound by the guidelines set out in the
Company Manual to the extent that any failure by TCL to comply with the
guidelines set out therein shall entitle the Company to terminate the
engagement of TCL in accordance with the provisions of clause 8(b) hereinabove
stated. No prior agreements between the parties hereto with respect to the
matters referred to herein or in the Company Manual shall supersede the
provisions of this Agreement and/or the guidelines of the Company Manual. No
other agreement, oral or otherwise, shall be binding between the parties unless
it is in writing and signed by the party against whom enforcement is sought.
There are no promises, representations, inducements or statements between the
parties other than those that are expressly contained herein and/or set out in
the Company Manual. TCL AND THE
EXECUTIVES ACKNOWLEDGE THAT EACH IS ENTERING INTO THIS AGREEMENT OF ITS OWN
FREE WILL AND ACCORD, AND WITH NO DURESS, THAT EACH HAS READ THIS AGREEMENT AND
UNDERSTANDS IT AND ITS LEGAL CONSEQUENCES.

                        (d)          Severability;
Reformation. In the event that one or more of the provisions of this
Agreement shall become invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein shall not be affected thereby. In the event any of Section 11(a), (b),
(c), (d), (e) or (f) is not enforceable in accordance with its terms, TCL, the
Executive and the Company agree that such Section, or such portion of such
Section, shall be reformed to make it enforceable in a manner which provides
the Company the maximum rights permitted under applicable law.

                        (e)          Waiver.
Waiver by any party hereto or any breach or default by another party of any of
the terms of this Agreement shall not operate as a waiver of any other breach
or default, whether similar to or different from the breach or default waived.
No waiver of any provision of this Agreement shall be implied from any course
of dealing between the parties hereto or from any failure by either party
hereto to assert its or his rights hereunder on any occasion or series of
occasions.

                        (f)          Notices.
Any notice required or desired to be delivered under this Agreement shall be in
writing and shall be delivered personally, by courier service, by electronic
mail, by reg­istered mail, return receipt requested, or by telecopy and shall
be effective upon dispatch to the party to whom such notice shall be directed,
and shall be addressed to the other party at the address(es) appearing on the
signature page hereto.

                        (g)          Amendments.
This Agreement may not be altered, modified or amended except by a written
instrument signed by each of the parties hereto.

                        (h)          Headings.
Headings to sections in this Agreement are for the convenience of the parties
only and are not intended to be part of or to affect the meaning or
interpretation hereof.

- 6 -

                        (j)          Context.
Unless the context of this Agree­ment
clearly requires otherwise, references to the plural include the singu­lar, to
the singular include the plural, to the part include the whole, and to the male
gender shall also pertain to the female and neuter genders and vice versa. The
term “including” is not limit­ing, and the term “or” has the inclusive meaning
represented by the phrase “and/or”. The words “hereof,” “herein,” “hereby”,
“hereto”, “hereunder” and similar terms in this Agree­ment refer to this
Agreement as a whole and not to any particular provision of this Agreement.
Section and Exhibit and clause references are to this Agreement unless
otherwise speci­fied.

SCHEDULE

Agency
Fee Structure

(a)          New
loans issued of up to $500.00

	
 

	
 

	
 

	
Number of loans issued per month 

	
 

	
Agency fee per loan 

	

	
 

	

	
0-50

	
 

	
$30.00

	
51 – 99

	
 

	
$30.00

	
100 – 149

	
 

	
$30.00

	
150 – 199

	
 

	
$30.00

	
200 – 249

	
 

	
$30.00

	
250 plus

	
 

	
$30.00

(b)          New
loans issued in excess of $500.00

	
 

	
 

	
 

	
Number of loans issued per month 

	
 

	
Agency fee per loan 

	

	
 

	

	
0-50

	
 

	
$40.00

	
51 – 99

	
 

	
$42.50

	
100 – 149

	
 

	
$45.00

	
150 – 199

	
 

	
$47.50

	
200 – 249

	
 

	
$50.00

	
250 plus

	
 

	
$52.50

	
 

	
 

	
(c)

	
The Company will pay TCL
 $30.00 for every loan paid off.

	
 

	
 

	
(d)

	
The Company will pay TCL an
 additional $2.50 per loan issued in every month where the average delinquency
 rate is below 5% 

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

	
 

	
 

	
 

	
 

	
Signed by ROBERT TONGE, Managing

	
)

	
 

	
 

	
Director acting for and on behalf of

	
)

	
 

	
/s/ Robert Tonge

	
FASTCASH
 ST. LUCIA LIMITED as

	
)

	
 

	

	
and for its own act before
 and in the

	
)

	
 

	
ROBERT
 TONGE

	
presence of:

	
 

	
 

	
 

	
 

	
          Illegible

	

	
WITNESS

- 7 -

	
 

	
 

	
 

	
 

	
Signed by RUDOLPH FRANCIS, Managing

	
)

	
 

	
    /s/ Rudolph Francis

	
Director, and CHERYL FRANCIS, Secretary,

	
)

	
 

	

	
both acting for and on behalf of Tax &

	
)

	
 

	
RUDOLPH FRANCIS

	
Corporate Law Services
 as and for its own

	
)

	
 

	
 

	
act before and in the presence of:

	
 

	
 

	
    /s/ Cheryl Francis

	
 

	
 

	
 

	

	
 

	
 

	
 

	
CHERYL FRANCIS

	
 

	
          Illegible

	

	
WITNESS

	
 

	
 

	
 

	
 

	
Signed by RUDOLPH
 FRANCIS

	
)

	
 

	
 

	
as and for his own act before and

	
)

	
 

	
    /s/ Rudolph Francis

	
in the presence of:

	
 

	
 

	

	
 

	
 

	
 

	
RUDOLPH FRANCIS

	
 

	
          Illegible

	

	
WITNESS

	
 

	
 

	
 

	
 

	
Signed by CHERYL
 FRANCIS

	
)

	
 

	
 

	
as and for his own act before and

	
)

	
 

	
    /s/ Cheryl Francis 

	
in the presence of:

	
 

	
 

	

	
 

	
 

	
 

	
CHERYL FRANCIS

	
 

	
          Illegible

	

	
WITNESS

- 8 -

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