CONTRACT AGREEMENT

FOR  THE

 

TRANSFER OF THE SUM

OF

US$18,000,000.00

EIGHTEEN MILLION UNITED STATES DOLLARS ONLY

BETWEEN

MRS. MARIAM SESE-SEKO AND ANOTHER

OF DEMOCRATIC REPUBLIC OF CONGO

(SENDERS)

 

AND

 

LILITH COVA

OF UNITED KINGDOM

(RECEIVER)

 

 

 

 

 

AGREEMENT made on the 17^th day of June, 2002, Between MRS. MARIAM SESE-SEKO and another of Zaire, Democratic Republic of Congo (hereinafter called “THE SENDERS/GRANTOR”) on the one part and LILITH COVA, U.K (hereinafter called the “THE RECEIVER/GRANTEE”) on the other part.

WHEREAS IT IS AGREED AS FOLLOWS:

(1)        The sum of $18,000,000.00 in U. S. Currency will be transferred into LILITH COVA designated Bank after he has secured the funds from Eurolite Services, Amsterdam, The Netherlands. The funds mentioned above will be used for investment purposes as agreed by both parties.

(2)        The “RECEIVER/GRANTEE” after the transfer proper, is entitled to (US$3,600,000.00) i.e. 20% of total Sum US$18,000,000.00 that the “GRANTOR” is depositing with the “GRANTEE” as payment for Agency and Consultancy services. It is herein understood and agreed that Mrs. Mariam Sese-seko and Family is the owner of US$13,5000,000.00, which represents 75% of the total funds, and the said funds shall be deposited in a new legal entity with separate financial institution accounts to be determined by “Receiver/Grantee” with signatory powers residing with Two (2) Trustees: “Receiver/Grantee” and one other Trustee, to be named by “Receiver/Grantee”. And within the new legal entity a separate account shall be established where “Trustee”, “Receiver”, and “Sender” shall have signatory powers.

(3)        “THE RECEIVER” and the “SENDER” must keep adequate records of their respective expenses both communication and other miscellaneous expenses, the total of which shall be deducted from the 5% (US$900,000.00) which had been purportedly set aside for that purpose AND the balance from the 5% shall be retained by the “Sender/Grantor.”

(4)        This agreement, unless otherwise retained by the two (2) parties for the purpose of future projects terminates after all the outstanding rights and liabilities have been reconciled at the end of the said project, but not to exceed ten (10) years from the commencement date. This contract shall be terminated by mutual consent of both parties prior to the date of expiration and/or a new contract shall be drafted for subsequent time periods. 

(5)        This agreement will also serve to confirm that LILITH COVA “THE RECEIVER” is hereby authorized to act as Consultants and Business Managers, to conduct on our behalf various types of business transactions as is deemed necessary to effectively invest, transfer, manage and conduct legal business in U.K. Furthermore any business conducted on our behalf will be subjected to the appropriate and current tax and investment laws stipulated by the state in which the business shall be conducted, both federal and provincial (State) also other countries as may be required.

(6)        However, the “SENDER” and the “RECEIVER” having reached a consensus hereby covenants

            as follows:

                       i)           To keep the substance of this project secret and to themselves alone.

ii)          To be trustworthy in all respects during the course of this project.

iii)         Undertake that they will not at anytime whether during continuance in force of this agreement or at any time after the termination thereof divulge any information in relation to the method used in effecting this project to third party.

iv)         That “RECEIVER” can at him own discretion deduct his 20% commission amounting to US$3,600,000.00 anytime immediately his in custody of the said funds.