Employment Agreement (2006)Full Document 

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MITCHELL MAXWELL, President

 

SIBLING ENTERTAINMENT GROUP, INC.

EMPLOYMENT AGREEMENT

 

Mitchell Maxwell

One Byrne, #6

Tenafly, NJ 07670

 

Dear Mitchell:

 

Sibling Entertainment Group, Inc. (“Sibling”), a New York Corporation, currently having an address at 511 West 25th Street, Suite 503, New York, NY 10001, agrees to employ you and you agree to accept such employment on the terms and conditions set forth herein.

1)

TERM. The term of your employment hereunder shall commence on January 1, 2006 and, unless terminated by Sibling pursuant to paragraph 8 hereof, shall continue through and until December 31, 2008. The period from January 1, 2006 through December 31, 2006 (the “Employment Term”) notwithstanding any earlier termination pursuant to Paragraph 14.

2)

DUTIES/RESPONSIBILITIES/REPORTING

 

a)

General. Your title shall be “President and CEO” of Sibling. You shall have such duties and responsibilities as are consistent with the traditional positions of a President and CEO of a publicly traded entertainment company. You shall report solely and directly to the Board of Directors of Sibling.

 

b)

Services. Except as herein otherwise specified, during the Employment Term you shall devote your entire business time, attention and energies to the business of Sibling. You agree to perform such duties, and such other duties reasonable and consistent with such office as may be assigned to you from time to time by the Board of Directors of Sibling or such other individual as may be designated by the Chairman of Sibling.

 

c)

Location. The principal place of business shall be in the greater metropolitan New York (Manhattan), New York area.

3)

EXCLUSIVITY. Except as otherwise provided herein, you hereby acknowledge and agree that your engagement with Sibling under this Agreement is exclusive and that during the Employment Term hereof you shall not, directly or indirectly, whether for compensation or otherwise, engage in any business that is competitive with the business of Sibling, or render any services of a business, commercial or professional nature to any other person or organization that is a competitor of Sibling or in a business similar to that of Sibling, without the prior written consent of Sibling, except you shall be permitted to render services for the following:

 

a)

Denver Civic Theatre, Inc. (“DCT”): It is understood that you currently serve as a member of the Board of Directors and the Chairman of the Board of the Denver Civic

 

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Theatre, Inc. (a not-for-profit) organization in the State of Colorado and may perform all the duties and responsibilities under such appointment. Sibling encourages your participation and shall not restrict your involvement with other not-for-profit and charitable organizations including theatrical and performance based organizations provided such participation does not prohibit your duties to Sibling under this Agreement.

 

b)

Sibling Entertainment Inc. (“SEI”): It is understood that you currently serve as an officer and director of SEI a company organized and operated in a similar industry of Sibling that may hold investments in one or more entertainment companies, and you may continue to serve in such positions, except you shall not devote more than approximately ten percent (10%) of your professional working hours to SEI, and so long as SEI does not actively pursue, acquire the additional rights to any new entertainment projects that is deemed competitive with the business of Sibling, except for passive investment interests, limited partnership or limited liability membership interests.

 

c)

Zachwell, Ltd. and Zia, Ltd.: It is understood that this company is owned and/or controlled by you that may hold investments and/or other financial arrangements, including but not limited to, royalties, net profits, fees or other arrangements for work, services or investments made in productions organized and financed prior to your engagement under this Agreement and therefore, you may continue to own this company and continue receive income for personal services rendered prior to your engagement under this Agreement.

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