Cascio is to prepare "a written status report describing the status of any sales of the Company Common Stock sold hereby."
Cascio was hired to provide "general legal services" to the company. A search of Google did not turn up any mentions of his name. He is required under the contract to report to the company if he sells any of his stock.
Said one particularly knowledgeable investor:
Frank Cascio is a major deal maker and assisted [I think] ERHC on the JDZ Participation Agreements with Noble and Pioneer, and I believe this is his speciality.
He was discussed at length some months back when his name popped up. He has appeared at several trade gatherings and conferences and speaks often on the subject.
According to a post on the RB board:
FRANK L. CASCIO JR is a partner in the firm of Barnes & Cascio LLP in Houston Texas, where he is engaged in a transactional and negotiating practice representing mostly large independent energy companies in upstream and midstream projects around the world. Most of his recent activity has been in the Pacific Rim countries, principally China.
That information is from a PDF file at http://www.cailaw.org/brochures/Intl%20Energy%20brochure.2004.pdf.
Cascio is the second new hire in recent months. CEO Ali Memon was hired late last year following the departure of CEO Chude Mba.
A copy of the Consulting Agreement is provided below and at the www.sec.gov/edgar site.
This Consulting Agreement dated January 4, 2005 (“Agreement”) is by and between, ENVIRONMENTAL REMEDIATION HOLDING CORPORATION d/b/a CHROME ENERGY CORPORATION, a Colorado corporation (“Company”) and FRANK CASCIO, an individual (“Consultant”).
W I T N E S S E T H :
WHEREAS, Consultant desires to provide certain consulting services to the Company; and
WHEREAS, the Company and Consultant desire to set forth in writing the terms and conditions of their agreement;
NOW, THEREFORE, in consideration of the premises and the mutual covenants, agreements, and considerations herein contained, the parties hereto agree as follows:
1. Engagement . Subject to the terms and provisions of this Agreement, the Company hereby affirms the engagement of Consultant, as an independent contractor, to provide general legal services.
2. Compensation . For legal services performed by Consultant for the Company, the Company will issue to Consultant 175,000 shares of common stock of the Company pursuant to a S-8 Registration Statement, which shares are valued at $82,250 based on the average of the high and low prices of the Company common stock on January 3, 2005, or $0.47, as reported on the OTC Bulletin Board.
3. Status Reports . At the Company’s written request, Consultant shall prepare and submit to the Company a written status report describing the status of any sales of the Company Common Stock sold hereby.
4. Term . The term of this Agreement shall commence on the date herein and shall continue in full force and effect for a period of six months.
5. Miscellaneous .
(a) Assignment . All of the terms, provisions and conditions of this Agreement shall be binding upon and shall inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. This Agreement shall not be assigned or transferred by either party, nor shall any interest herein be assigned, transferred, pledged or hypothecated by either party without the prior written consent of the other party.
(b) Applicable Law . This Agreement shall be construed in accordance with and governed by the laws of the State of Texas.
(c) Entire Agreement, Amendments and Waivers . This Agreement constitutes the entire agreement of the parties hereto and expressly supersedes all prior and contemporaneous understandings and commitments, whether written or oral, with respect to the subject matter hereof. No variations, modifications, changes or extensions of this Agreement or any other terms hereof shall be binding upon any party hereto unless set forth in a document duly executed by such party or an authorized agent or such party.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above.
ENVIRONMENTAL REMEDIATION HOLDING
By: /s/ Ali Memon
Ali Memon, President
By: /s/ Frank Cascio