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TERMS OF AGREEMENT
THIS AGREEMENT made and entered on the 24thday of May 2007,
by and between POWER HOLDINGS COMPANY of NIGERIA,
hereinafter “PHCN” and Applicant.

WHEREAS, Applicant is prepared to enter into an employment agreement with PHCN

and give PHCN the assurance it desires, and PHCN is of desirous obtaining the services
of Applicant as an employee;

NOW THEREFORE, in consideration of the premises and mutual agreements hereinafter

set forth, the parties hereto agree as follows;

1. PHCN agrees to, and hereby does employ Applicant as Electrical Safety Engineer, and
Applicant accepts said employment and agrees, during the term hereof, to discharge
faithfully, diligently and to the best of his or her ability, the responsibilities of Electrical
Safety Engineer and to perform such substitutive or additional duties as PHCN may
request from time to time. Such services maybe performed in whole or in part at the
discretion of PHCN.

2. During the period commencing on the 30th July 2007, and unless sooner terminated as
provided herein, continuing through Applicant will serve as a regular employee on a full-
time basis, subject to the other provisions and conditions of this Agreement.

3. As compensation and consideration for such performance of such services and the
observance of all the provisions of this Agreement, PHCN agrees to pay Employee, and
Employee agrees to accept the following amount and benefits;
a) Salary at the rate of US$18,920.00 (Eighteen Thousand Nine hundred and Twenty United
States Dollars) per month, such salary increases and such other and further benefits as
PHCN may designate.

b) A bonus to be established by PHCN, which will be based upon the meeting of sales
quotas to be set from time to time. PHCN shall reimburse Employee for all ordinary and
necessary expenses which have been approved in advance by PHCN.

This Agreement embodies the entire understanding of the parties

hereto and any prior representation or arrangements are hereby
superseded.

ATTESTATION

AS WITNESS, the hands of the duly authorized representatives of

the parties, the day and year first above written;

S IGN BY:

D R. MUSA MOHAMMED

HR DEPT MANAGER

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EMPLOYEE;

SIGNATURE: ……………………………………………………………..

NAME:
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ADDRESS:
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TEL/MOBILE ……………………………………………………………..