This excerpt taken from the PRVT 10-K filed Apr 2, 2007.
Re: Consultancy Agreement
We refer to the agreement between us and you dated as of todays date relating to the provision of your services to Private Media Group, Inc (herein the Consultancy Agreement). When signed by you and us this letter agreement will be a binding agreement the terms of which will supplement the Consultancy Agreement.
We hereby agree as follows:
a) You will be responsible for managing the day-to-day activities of the Private Media Group on a full-time basis. As COO you are one of the highest ranking members of the Groups organization, monitoring the daily operations of the Group and reporting to the Groups Chief Executive Officer directly.
b) As COO you will be responsible for Operations Management (OM). Your focus will be strategic, tactical, and short-term OM, which means that you are responsible for the effective planning, design, operation, and improvement of the systems that create and deliver the Groups products/services, including: management information systems, quality management, production management, inventory management, and other functions as they affect the organization. You will have full responsibility for the Groups financial performance.
Please sign and return the enclosed copy of this letter agreement to indicate your acceptance of the terms set out herein.
Accepted and Agreed