Exhibit
10.1


 


EMPLOYMENT
AGREEMENT


 


THIS
EMPLOYMENT AGREEMENT is executed on the dates set forth below the signatures hereon but effective as of January 1, 2013,
and is by and between GLOBAL EQUITY PARTNERS PLC., domiciled in the United Arab Emirates, Level 28 – Al Habtoor
Business Tower, P.O. Box 29805, Dubai Marina, Dubai (“Employer”), and Mr. Peter Smith a resident of Dubai,
UAE (“Employee”).


 


1.
Duties; Assignment 


 


During
the term of employment hereunder, Employee shall initially perform the duties of Chief Executive Officer (CEO) of Employer,
or such other duties as assigned by and at the location determined by the Board of Directors of Employer. Employee shall oversee
the running and development of the company to the best of his ability.


 


2.
Compensation


 


In
consideration of the services rendered by Employee to Employer hereunder, Employer shall pay to Employee an annual salary of no
less than $180,000, subject to annual review and adjustment of no less than a 5% percentage increase, if any, in
the U.S. Consumer Price Index during such year (“Base Salary”). This Salary shall be paid on a monthly basis to the
employee or a Company owned by the Employee at the option of the Employee.


 


3.
Employment


 


Employer
hereby employs Employee and Employee hereby accepts employment on the terms set forth herein commencing on the first day of
January 1, 2013.


 


	 	(a)	Employment
    will continue for 36 months and until terminated as hereafter set forth.
	 	 	 
	 	(b)	Employer
    shall have the right to terminate this Agreement and all of Employee’s rights shall thereupon terminate upon the disability
    (for 180 or more days, whether or not consecutive, in any 360 day period) of Employee (“Disability”) and the Employer
    giving written notice thereof, and this Agreement shall automatically terminate upon the death of Employee (“Death”).
	 	 	 
	 	(c)	Employer
    shall have the right to terminate Employee’s employment (1) for any reason or no reason with either (i) 60 days prior
    written notice of termination or (ii) immediate notice of termination with an undertaking to continue payment of Employee’s
    compensation under this Agreement for 90 days, (2) at any time during the thirty six month period following the execution
    of this agreement and with 30 days prior written notice or (3) for Cause (as defined below), upon Employee’s receipt
    of notice thereof. . As used herein, “Cause” means (i) willful or serious misconduct or dishonesty in the performance
    of, Employee’s duties hereunder or (ii) the indictment or conviction of Employee for a felony under state or federal
    criminal laws. Upon the effective date of termination specified in such notice, this Agreement shall terminate except for
    the provisions, which expressly survive termination, and Employee shall vacate the offices of Employer.



 











    	 



    	 



    

 


	 	(d)	Employee
    shall have the right to terminate employment hereunder by providing 30 days written notice. Thereafter, this Agreement shall
    terminate except for the provisions, which expressly survive termination.




 


4.
Severance Payments


 


	 	(a)	If
    Employer terminates this Agreement for any reason other than Disability, Death, Employee shall be entitled to receive, and
    Employer shall make, the following severance payments:


  


(i)
continue to pay a sum equivalent to twelve months’ salary.


 


	 	(b)	If
    Employer terminates this Agreement by reason of the Disability of Employee or if this Agreement is automatically terminated
    upon the Death of Employee pursuant to Section 3(b), Employee or his estate shall be entitled to receive, and Employer shall
    make, the following severance payments: 


 


(i)
continue to pay a sum equivalent to five years annual salary via the life assurance scheme to be put in place before the
end of 2013.


 


5.
Expenses


 


Employer
shall reimburse Employee’s expenses reasonably incurred in carrying out his duties hereunder within 30 days of submittal
of an itemized account of such expenses together with such receipts and forms as are required by Employer’s normal policies
and practices. In the event of cash advances such reimbursements will be credited against the advanced account.


 


6.
Benefits


 


Employer
shall provide and Employee shall be entitled to participate in an all benefit plans and programs generally available to employees
of Employer on the same terms as other employees except as follows:


 


	 	(a)	Vacation:
    Employee shall be entitled to four weeks paid vacation per year scheduled at times mutually convenient to Employee and Employer.
    Employee shall be entitled to carry over unused vacation days into the next year in accordance with Employer’s policy,
    as modified from time to time. Employee shall be entitled to all holidays as allowed to other employees of the Employer with
    similar responsibilities.



 






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	 	(b)	Life
    Insurance: The employee shall be entitled a life insurance coverage equivalent five years of gross salary.




 


	 	(c)	Medical:
    The employee and his family shall be entitled to full health insurance coverage by a reputable insurance company of the employee’s
    choice.
	 	 	 
	 	(d)	Stock
    Options: The employee shall be entitled to stock options to be agreed before June 30, 2013. 
	 	 	 
	 	(e)	Rent
    Allowance: The employee shall be entitled to a monthly rent allowance in Dubai of $10,000. This rent allowance shall commence
    on July 1st 2013.


 


7.
Confidentiality; Non-Disclosure


 


	 	(a)	For
    the purpose of this Agreement, “Confidential Information” is defined to include any information, designs, software,
    processes, practices, plans, proposals, markets, pricing, personnel or financial or business information relating to Employer,
    its affiliates (including the Subsidiary), and their respective businesses, customers, suppliers, products or services, whether
    in written, oral or other form. Confidential Information shall not include information, which at the time of disclosure is
    in the public domain by publication or otherwise through no fault of Employee, or information furnished by a third party which
    was not received directly from Employer or otherwise under an obligation of secrecy.
	 	 	 
	 	(b)	At
    all times after the date hereof, including after termination of this Agreement, Employee shall not, except with the expressed
    prior written consent of Employer, directly or indirectly communicate, disclose or divulge any of the Confidential Information
    or use any of the Confidential Information for any purpose other than performance of his duties hereunder.


 


8.
Agreement Not to Compete


 


For
so long as Employee is entitled to receive severance payments under Sections 4(a), 4(b) or 4(c), or (ii) for a period of one year
from the effective date of termination if Employee voluntarily terminates his employment hereunder or if Employee is terminated
by Employer for Cause, Employee agrees that he will not, directly or indirectly, (1) be employed by, serve as a consultant or
advisor to, or have a material ownership interest in any corporation or other entity whose business is competitive (as reasonably
determined by the Board of Directors of Employer) with the business of Employer, the Subsidiary or any of their affiliates; provided,
however that this clause (1) shall not prohibit any such employment or other relationship with an entity which itself is not,
but has a separate corporate affiliate which is, engaged in such competitive business so long as Employee does not provide services
to, assist or advise such competitive affiliate in any way, or (2) induce or solicit any other person who was employed by Employer,
Subsidiary or any of their affiliates at any time during Employee’s employment by Employer to engage in any line of business
competitive with that of Employer, Subsidiary or their affiliates.


 






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9.
No Conflicting Agreements


 


Employee
represents and warrants that he is not a party to or bound by any agreement or subject to any restriction arising out of any current
or prior employment or relationship which would be violated by his entering into and performing his obligations under this Agreement,
including, without limitation, restrictions relating to non-competition or the protection of confidential information.


 


10.
Notices


 


All
notices and other communication which are required or permitted hereunder shall be given in writing and either delivered by hand
or overnight courier service or mailed by certified mail, return receipt requested, postage prepaid, to the following addresses:


 


Global
Equity Partners Plc.


 


Level
28 – Al Habtoor Business Tower,


PO Box
29805, 


Dubai,
U.A.E.


 


Peter
Smith


 


Frond
“F”, Villa 38,


Palm
Jumeirah,


Dubai
UAE


 


11.
Miscellaneous


 


	 	(a)	This
    Agreement shall be binding upon, inure to the benefit of, and enforceable by the successors and assigns of the Employer and
    the heirs, estate, personal representatives and beneficiaries of Employee. The rights, obligations and duties of the Employee
    hereunder shall be personal and are not assignable or delegable in any manner whatsoever; provided, however, that this Agreement
    shall be assigned to and assumed by the Subsidiary if and when required by Section 1.



 


	 	(b)	The
    obligations of the parties in Sections 4, 7, 8 and 11 shall survive any termination of this Agreement.



 






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	 	(c)	This
    Agreement constitutes the entire understanding of the parties with respect to subject matter hereof, and shall not be modified,
    terminated or any provisions waived orally, including this clause. Any such modification, termination or waiver must be in
    writing and signed by each of the parties hereto.
	 	 	 
	 	(d)	No
    failure to exercise or delay in exercising any right, power or remedy hereunder shall preclude any other or further exercise
    of the same or any other right, power or remedy.
	 	 	 
	 	(e)	This
    Agreement shall be construed and enforced in accordance with the laws of England.


 


IN
WITNESS WHEREOF, the parties have executed this Agreement on the date indicated below intending to be legally bound hereby.


 


	Global
    Equity Partners Plc.	 	Employee
	 	 	 
	/s/ Enzo Taddei	 	/s/
    Peter Smith
	Enzo Taddei	 	Peter Smith
	CFO	 	 
	 	 	 
	Dated: January
    1, 2013	 	Dated: January
    1, 2013


 






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