Exhibit 10.1


 





FBEC WORLDWIDE INC.


 


EMPLOYMENT AGREEMENT


 


This Agreement is dated this 1st day of
August, 2015 by and between Jason Spatafora, (“Spatafora”), and FBEC Worldwide Inc. ("FBEC"), a Wyoming Corporation,
located at 1621 Central Avenue, Cheyenne, WA 82001; and is hereinafter referred to as the (“Company”).


 


RECITALS


 


A. Whereas; FBEC desires to enter into
an Employment Agreement (“Agreement)” with Spatafora to serve as its Chief Marketing Officer (“CMO”) and
a Member of the Board of Directors.


 


B. Whereas: FBEC's Board of Directors held
a meeting of on July 30, 2015 at which time the Board unanimously voted to appoint Spatafora to become a member of the Board of
Directors and Chief Marketing Officer (CMO) a Corporate Officer of the Company responsible for managing the marketing of the Company,
reporting directly to CEO & Chairman, Robert Sand.


 


C. Whereas; Robert Sand, will work with
the CMO to create, give guidance, and approve the overall direction, goals and strategies of the Company to be implemented by the
CMO.


 


D. Whereas; FBEC and Spatafora have reviewed
this Agreement and any documents delivered pursuant hereto and have taken such additional steps and reviewed such additional documents
and information as deemed necessary to make an informed decision to enter into this Agreement.


 


E. Whereas; Each of the parties hereto
desires to make certain representations, warranties and agreements in connection herewith and also to describe certain conditions
hereto in the Agreement.


 


Now therefore, for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:


 


AGREEMENT


 


Job Title and Term of Agreement:


 


1. Job Title: Chief Marketing Officer
and a Member of the Board of Directors of FBEC Worldwide, Inc.


 


2. Term: The term of this Agreement
is for a minimum of one year and the Board of Directors has the option to appoint Sparafora for another annual term, in addition
to revised considerations and conditions.


 


Compensation, Bonuses, & Benefits:


 


a. Annual Salary: Spatafora will
receive an Annual Salary of $180,000. This amount will be paid in 12 equal monthly installments of $15,000.


 


 


 






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b. Stock Signing Bonus: Spatafora
will receive a signing bonus of Ten Million (10,000,000) restricted shares of the common stock of FBEC Worldwide Inc.


 


4. Confidentiality:


 


The provisions of this Agreement are confidential
and private and are not to be disclosed to outside parties (except on a reasonable need to know basis only) without the express,
advance consent of all parties hereto or by order of a court of competent jurisdiction. Spatafora agrees and acknowledges that
during the course of this Agreement in the performance of his duties and responsibilities that he will come into possession or
knowledge of information of a confidential nature and/or proprietary information of FBEC. Such confidential and/or proprietary
information includes, but is not limited to the following of FBEC: its agents, contractors, employees and all affiliates; corporate
and/or financial information and records of FBEC or any client, customer or associate of FBEC; information regarding others under
contract, or in contact with, FBEC; customer information; client information; shareholder information; business contacts, investor
leads and contacts; employee information; documents regarding FBEC’s website and any FBEC product, including intellectual
property.


 


Spatafora represents and warrants to FBEC
that he will not divulge confidential, proprietary information of FBEC to anyone or anything without the advance, express consent
of FBEC, and further will not use any proprietary information of FBEC for his or anyone else's gain or advantage during and after
the term of this Agreement.


 


5. Further Representations and Warranties:


 


Spatafora acknowledges that this is an
employment position and represents that he will perform his duties and functions herein in a timely, competent and professional
manner. Spatafora represents and warrants that he will be fair in his dealing with FBEC and will not knowingly do anything against
the interests of FBEC.


 


6. Survival of Warranties and Representations:


 


The parties hereto agree that all warranties
and representations of the parties survive the closing of this transaction.


 


7. Termination:


 


This agreement is expressly not “at
will.” It can be terminated by FBEC only for cause, after reasonable notice and opportunity to correct any alleged deficiencies.
Spatafora may request a hearing of the full Board of Directors to defend himself against any attempt of FBEC to terminate this
Agreement. Any final determination of termination must be made by majority vote of the FBEC Board of Directors (after such a hearing,
if requested). Spatafora must give at least 30-day’s notice if he intends to resign.


 


MISCELLANEOUS PROVISIONS


 


1. Expenses: Each party shall bear
its respective costs, fees and expenses associated with the entering into or carrying out its obligations under this Agreement.


 


 






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2. Indemnification: Any party, when
an offending party, agrees to indemnify and hold harmless the other non-offending parties from any claim of damage of any party
or non-party arising out of any act or omission of the offending party arising from this Agreement.


 


3. Notices: All notices required
or permitted hereunder shall be in writing and shall be deemed given and received when delivered in person or sent by confirmed
facsimile, or ten (10) business days after being deposited in the United States mail, postage prepaid, return receipt requested,
addressed to the applicable party as the address as follows:


 


	 	Company: 	FBEC Worldwide, Inc.
	 	 	1621 Central Avenue
	 	 	Cheyenne, WY 82001
	 	 	Attention: Robert Sand, CEO
	 	 	714-330-3798
	 	 	 
	 	Employee:	Jason Spatafora
	 	 	535 N. East 17th Way
	 	 	Ft. Lauderdale, FL 33301













 











4. Breach: In the event of a breach
of this Agreement, ten (10) days written notice (from the date of receipt of the notice) shall be given. Upon notice so given,
if the breach is not so corrected, the non-breaching party may take appropriate legal action per the terms of this Agreement.


 


5. Assignment: This Agreement is
assignable only with the written permission of FBEC and Spatafora.


 


6. Amendment: This Agreement is
the full and complete, integrated agreement of the parties, merging and superseding all previous written and/or oral agreements
and representations between and among the parties, and is amendable in writing upon the agreement of all concerned parties. All
attachments hereto, if any, are deemed to be a part hereof.


 


7. Interpretation: This Agreement
shall be interpreted as if jointly drafted by the parties. It shall be governed by the laws of the State of Wyoming applicable
to contracts made to be performed entirely therein.


 


8. Enforcement: If the parties cannot
settle a dispute between them in a timely fashion, either party may file for arbitration within Cheyenne, WY. Arbitration shall
be governed by the rules of the American Arbitration Association. The arbitrator(s) may award reasonable attorney’s fees
and costs to the prevailing party. Either party may apply for injunctive relief or enforcement of an arbitration decision in a
court of competent jurisdiction within Cheyenne, WY.


 


9. Counterparts: This Agreement
may be executed in counterparts each of which shall be deemed an original and all of which together shall constitute one and the
same agreement. Facsimile signatures shall be considered as valid and binding as original signatures.


  


IN WITNESS WHEREOF, the Parties
hereto have executed this Agreement on the date first written above.


 


FBEC WORLDWIDE, INC.





_________________________________________


ROBERT SAND - CHAIRMAN & CEO


 


 





______________________________________


JASON SPATAFORA


 


 


 






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