Consulting Agreement (2007)Full Document 

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- Consulting Agreement, William F. Plon

 

 

SIBLING ENTERTAINMENT GROUP, INC.

WITH

WILLIAM PLON

 

CONSULTING AGREEMENT

 

 

DATE:

 

June 1, 2007

 

COMPANY:

Sibling Entertainment Group, Inc. (“SEGI”)

511 West 25th Street

New York, NY 10001

 

CONSULTANT:

William Plon (“WP”)

64 Tammany Road

Upper Black Eddy PA 18972

 

RECITALS

 

 

A.

The Company is engaged in various elements of the entertainment industry including, without limitation the production of live stage events and motion pictures.

 

 

B.

Consultant has considerable experience and ability in Company’s business and extensive knowledge, experience and abilities with respect to financial and business matters.

 

 

C.

The Company desires to retain Consultant as an independent contractor to assist it from time-to-time in furtherance of its business and Consultant is willing to provide such services to the Company on the terms herein contained.

 

 

D.

Company and Consultant anticipate that they may enter into further agreements for the specific services of Consultant on various issues of interest to Company and same shall be subject to the general terms and conditions of this agreement, unless as otherwise specified in writing.

 

WP was engaged as the Chief Financial Officer (“CFO”) of the Company pursuant to an employment agreement dated December 13, 2006 (the “Employment Agreement”) and both parties agree to mutually rescind the Employment Agreement and to simultaneously engage WP as a consultant to SEGI (“Consulting Agreement”) with no further obligations by either party with respect to the Employment Agreement, except for SEGI to maintain health insurance as a former employee as provided under COBRA and to reimburse the Consultant for this cost, if not paid directly by the Company; except for the following:

 

 

a.

SEGI shall pay WP an amount equal to Six Thousand Eight Hundred Seventy Five Dollars ($6,875) for the days between May 16, 2007 and May 31, 2007 for the remaining service under the Employment Agreement.

 

 

b.

SEGI shall pay WP an amount equal to ten thousand ($10,000) dollars within sixty (60) days of the signing of this Agreement for initial outstanding “Signing Bonus” payable to PLON as defined by Consulting Agreement.

 

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Exhibit No. 10.02

- Consulting Agreement, William F. Plon

 

 

NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties hereto agree as follows:

 

TERMS AND CONDITIONS

 

1.  INCORPORATION OF RECITALS. The recitals set forth above are incorporated unto this Agreement as if they were set forth in full in the body of this Agreement.

 

2.  ENGAGEMENT:  

 

2.1. Company hereby engages Consultant as an independent contractor to render the services described herein to Company, and Consultant accepts the engagement subject to the terms contained herein.

 

2.2. Consultant acknowledges that the obligation to provide the services of such parties is of essence to this agreement and that failure to provide such services shall be deemed a default hereunder permitting Company to terminate this agreement at its discretion.

 

3.  TERM:

 

3.1.  The Company hereby engages the Consultant to furnish the advisory and consulting services specified herein, and the Consultant hereby accepts such engagement and agrees to provide such services, on the terms and conditions herein set forth, for a minimum period of three (3) months and a maximum period of six (6) month commencing on June 1, 2007 (the “Consulting Period”). The Consulting Period may be extended for an additional six (6) month period by mutual written consent of the parties.

 

3.2.        Notwithstanding the foregoing, the Consulting Period may be terminated by the Company:

 

3.2.1.     Upon the Company’s sending to the Consultant written notice terminating the Agreement for Just Cause. For purposes of this Agreement, “Just Cause” shall mean, (A) action by the Consultant involving conclusively proven fraudulent acts materially detrimental to the operations of the Company where after receipt of written notice of same from the Company; (B) the conviction of the Consultant of a felony crime of moral turpitude; (C) any intentional and continuing violation in a material respect of any of the provisions of Sections 6 or 7 hereof after receipt of written notice of same from the Company and a failure of Consultant to cure such violation within thirty (30) days of receipt of such notice; or (D) any material failure by the Consultant to perform its duties in accordance with this Agreement (other than by reason of physical or mental disability of either Essential Party), provided the Consultant shall first have been given written notice of such failure and the Consultant shall not have corrected or caused to be corrected such failure within 30 days from such notice; or

 

3.2.2. Upon the date of death of Consultant;

 

3.3. Notwithstanding the foregoing, this Agreement shall terminate upon the following:

 

 

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Exhibit No. 10.02

- Consulting Agreement, William F. Plon

 

 

3.3.1      If Consultant becomes employed by a third party on a full time basis (40 hrs per week or more) within the first 90 days from the date hereof, the Agreement shall automatically terminate on the 90th day from the date of the Agreement.

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