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Ex-10.52
Recruiting Agreement between the Company and Jack King
EXHIBIT 10.52
April 26, 1999
Mr. Jack King
Southcourt, Ltd.
Irvine, CA 92602
RE: TELEGEN RECRUITMENT
Dear Jack,
Pursuant to our earlier conversations, Telegen Corporation is prepared to
compensate you as provided in this letter for your assistance in recruiting
senior management for the Company. Should Telegen hire an individual for a
senior management positions who was introduced to the Company by you, the
Company will pay you a finder's fee equal to five percent (5%) of the first
year's gross cash compensation. This finder's fee would be paid to you in the
form of post-reorganization Telegen common stock, the amount to be calculated
based upon the price of the common stock sold in our next offering and payable
upon confirmation of our Plan of Reorganization.
Thanks for again for your assistance.
Best regards,
/S/ JESSICA L STEVENS
Jessica L. Stevens
President/CEO
AGREED:
/S/ JACK KING
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