Employment Agreement (2006)Full Document 

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SIBLING ENTERTAINMENT GROUP, INC.

EMPLOYMENT AGREEMENT

William Plon
64 Tammany Road
Upper Black Eddy PA 18972

Dear William:

                    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.

47)
TERM. The term of your employment hereunder shall commence on November 1, 2006 and, unless terminated by Sibling pursuant to paragraph 8 hereof, shall continue through and until December 31, 2008. The period from November 1, 2006 through December 31, 2008 (the “Employment Term”) notwithstanding any earlier termination pursuant to Paragraph 14.

48) DUTIES/RESPONSIBILITIES/REPORTING

  a)
General. Beginning November 1, 2006 you agree to work for Sibling no less than two (2) days per week for the month of November 2006 and no less than three (3) days per week for the month of December 2006 (“Part-time”) assisting the Office of the Chief Financial Officer. Beginning on January 1, 2007, you agree to work for Sibling five (5) days per week (“Full-time”).

 
As of January 1, 2007 or upon the closing of the merger between Sibling and Sona Development Corp., your title shall be “Chief Financial Officer” of Sibling. You shall have such duties and responsibilities as are consistent with the traditional positions of a Chief Financial Officer of a publicly traded entertainment company. You shall report solely and directly to the President and Board of Directors of Sibling.

  b)
Services. Prior to January 1, 2007, it is understood that Sibling will engage you Part-time and that you are permitted to provide services to and be employed by your current employer, but beginning January 1, 2007, you shall devote your entire business time, attention and energies to the business of Sibling. You agree to perform such duties, and other duties reasonable and consistent with such office as may be assigned to you from time to time by the Board of Directors and/or President of Sibling or such other individual as may be designated by the Board of Directors and/or President of Sibling.

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

49)
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


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the prior written consent of Sibling, except you shall be permitted to render services for the following:

  a)
Other Prior Partnerships and Corporations: It is understood that you may own part or control singularly or with others, limited partnership, limited liabilities companies, or other corporations within the theatrical, film or entertainment industries that may own various residual rights, royalties and other income for which you may still possess certain legal responsibilities to such entities and their limited investors, except you shall not devote more than approximately five percent (5%) of your professional working hours towards such activities and responsibilities.

  b)
Other Corporate Investments. The Exclusivity Provisions shall also not prohibit your ownership or services in connection with investments which you or members of your family or your charitable trusts or foundations (directly or indirectly) and future investments which (a) do not require devotion of a substantial amount of your personal professional services which shall include, without limitation, passive investment interests, limited partnership interests or limited liability membership interests and (b) other than Sibling, do not compete with Sibling’s business when the investment is made, provided however that you may own directly or indirectly up to 5% of a publicly held company, limited partnership interests, or limited liability membership interests or other passive investment interests in private companies even if it does compete with Sibling’s business.
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