Exhibit 10.1


 





MUTUAL
RELEASE AGREEMENT


 


This
mutual release agreement (“Release”) is made and entered into as of November 4, 2015, by and between Studioplex
City, LLC a Georgia corporation (“SC”, “Party”), and Nutmeg Productions, Inc. and Parkway
Productions, Inc. (together “NP&PP”, “Party” “Parties”).


 


WITNESSETH


 


WHEREAS,
SC and NP&PP entered into a Two Picture Director and Executive Producer Agreement dated September 9, 2014 (“Agreement”)
under which NP&PP was to perform various services for SC including, but not limited to directing and executive producing (“Services”);
and


 


WHEREAS,
the Parties wish to cancel the Agreement;


 


NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties
hereto, intending to be legally bound, do agree as follows:


 


		1)	Cancellation
                                         of Agreement.  The Parties agree that the Agreement is hereby canceled and terminated
                                         as of the date hereof, and that neither SC nor NP&PP have any further rights, liabilities
                                         or obligations under the Agreement.



 


		2)	Release
                                         by SC. SC, on behalf of itself and on behalf of any other person or entity claiming
                                         through or under SC, does hereby release and forever discharge NP&PP, their general
                                         partners and limited partners, partners, respective directors, officers, employees, shareholders,
                                         agents, assigns, attorneys, successors, heirs, administrators, executors, representatives,
                                         and all others who may have acted or been claimed to have acted in concert with NP&PP,
                                         liable or who might be claimed to be liable from any and all claims charges, complaints,
                                         liabilities, obligations, promises, agreements, controversies, damages, demands, actions,
                                         causes of action or suits of any kind or nature whatsoever, whether they sound in law,
                                         equity, tort or contract, which SC may have had, now has or may have against NP&PP
                                         arising out of any act or omission of NP&PP under the Agreement or in any way connected
                                         with any and all transactions, occurrences or other matters relating to the Agreement.



 



     


     

    

 


		3)	Release
                                         by NP&PP. NP&PP, on behalf of itself and on behalf of any other person or
                                         entity claiming through or under NP&PP, does hereby release and forever discharge
                                         SC, their general partners and limited partners, partners, respective directors, officers,
                                         employees, shareholders, agents, assigns, attorneys, successors, heirs, administrators,
                                         executors, representatives, and all others who may have acted or been claimed to have
                                         acted in concert with NP&PP, liable or who might be claimed to be liable from any
                                         and all claims charges, complaints, liabilities, obligations, promises, agreements, controversies,
                                         damages, demands, actions, causes of action or suits of any kind or nature whatsoever,
                                         whether they sound in law, equity, tort or contract, which NP&PP may have had, now
                                         has or may have against SC arising out of any act or omission of SC under the Agreement
                                         or in any way connected with any and all transactions, occurrences or other matters relating
                                         to the Agreement.



 


		4)	Stock:
                                         On February 18, 2015, NP was issued 7,083,333 shares of common stock (“Stock”)
                                         of Fonu2, Inc. (ticker reference “FONU”). Said Stock shall remain the property
                                         of NP.



 


		5)	Screen
                                         play Option: By virtue of the execution of the agreement, SC hereby assigns its option
                                         on the Screen play currently titled “EFFA” to NP and or its assignees.



 


		6)	Miscellaneous.



 


		(a)	This
                                         Release shall be binding upon, and shall inure to the benefit of, the Parties hereto
                                         and their respective heirs, executors, administrators, personal representatives, successors,
                                         and assigns. Any and all rights granted to any of the Parties hereto may be exercised
                                         by their agents or personal representatives.



 


		(b)	Time
                                         is of the essence of this Release.



 


		(c)	This
                                         Release may be executed in several counterparts, each of which shall be deemed an original,
                                         and all counterparts together shall constitute one and the same instrument.



 


		(d)	This
                                         Release shall be governed by and construed and interpreted in accordance with the laws
                                         of the State of Georgia.



 


		(e)	This
                                         Release constitutes the sole and entire agreement of the Parties herein with respect
                                         to the subject matter hereof and no promises, agreements or understandings, whether oral
                                         or written, shall be of any force or effect unless set forth herein.



 


		(f)	Parties
                                         agree to use reasonable endeavors to negotiate an agreement within 90 (ninety) days hereof
                                         with the intention of NP&PP providing the services of Penny Marshall for future motion
                                         picture development, production and exploitation.



 



    - 2 -


     

    

 


IN
WITNESS WHEREOF, the Parties hereto have signed and sealed this Mutual Release Agreement as of the day and year first above
written.


 





	Studioplex City, LLC	 
	 	 	 
	By:	/s/
    Roger Miguel	 
	Its:
    	CEO	 
	 	 	 
	Date:
    	11/4/15	 
	 	 	 
	Nutmeg Productions, Inc.	 
	 	 	 
	By:	/s/
    Penny Marshall	 
	Its:
    	Chairman	 
	 	 	 
	Date:	11/2/15	 
	 	 	 
	Parkway Productions, Inc.	 
	 	 	 
	By:	/s/
    Penny Marshall	 
	Its:
    	Chairman	 
	 	 	 
	Date:	11/2/15	 




 


 


 


- 3 -