# EDGAR Filing Document

**Accession Number:** 0002012600
**File Stem:** 0001641172-25-024259
**Filing Date:** 2025-8
**Character Count:** 39810
**Document Hash:** 695c34f6cc70253d78a4b48145abede0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-024259.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001641172-25-024259

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250815

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** rYojbaba Co., Ltd.
- **CENTRAL INDEX KEY:** 0002012600
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** M0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42781
- **FILM NUMBER:** 251222359

**BUSINESS ADDRESS:**
- **STREET 1:** 4-3-1, OHASHI, MINAMI-KU
- **STREET 2:** FUKUOKA-SHI
- **CITY:** FUKUOKA
- **STATE:** M0
- **ZIP:** 815-0033
- **BUSINESS PHONE:** 81 (92) 553-0344

**MAIL ADDRESS:**
- **STREET 1:** 4-3-1, OHASHI, MINAMI-KU
- **STREET 2:** FUKUOKA-SHI
- **CITY:** FUKUOKA
- **STATE:** M0
- **ZIP:** 815-0033

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16** 

**UNDER THE SECURITIES EXCHANGE ACT OF 1934** 

**For the month of August, 2025**

**Commission File Number: 001-42781**

**RYOJBABA CO., LTD.**

**(Translation of registrant's name into English)** 

**4-3-1, Ohashi, Minami-Ku**

**Fukuoka-Shi, Fukuoka, 815-0033, Japan**

**(Address of principal executive offices)** 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. ☒ Form 20-F ☐ Form 40-F

**Independent Director Agreement**

On August 14, 2025, Ferdinand Groenewald entered into an Independent Director Agreement (the "Agreement") with rYojbaba Co., Ltd. (the "Company"). Pursuant to the terms of the Agreement, Mr. Groenewald will be paid the sum of $30,000 annually for director's service as a director of the Company, to be paid $2,500 per month, payable within five business days of the end of each month, and with such amount for any partial calendar month being appropriately prorated.

During the term of the Agreement, the Company agreed to reimburse Mr. Groenewald for all reasonable out-of-pocket expenses incurred by Mr. Groenewald in attending any in-person meetings, provided that he complies with the generally applicable policies, practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such expenses. Any reimbursements for allocated expenses (as compared to out-of-pocket expenses of the applicable director in excess of $500) must be approved in advance by the Company.

The Agreement contains customary confidentiality provisions and customary provisions related to Company ownership of intellectual property conceived or made by Mr. Groenewald in connection with the performance of his duties under the Agreement (i.e., a "work-made-for-hire" provision).

The Agreement further provides that, during the term (which continues as long as he is serving as a director of the Company), he is to be entitled to indemnification and insurance coverage for officers' liability, fiduciary liability and other liabilities arising out of Mr. Groenewald's position with the Company in any capacity, in an amount not less than the highest amount available to any other director, and such coverage and protections, with respect to the various liabilities as to which Mr. Groenewald has been customarily indemnified prior to termination of employment, shall continue for at least six years following the end of the term. Any indemnification agreement entered into between the Company and Mr. Groenewald will continue in full force and effect in accordance with its terms following the termination of the Agreement.

The Agreement contains customary representations and warranties by Mr. Groenewald, relating to the Agreement, and contains other customary miscellaneous provisions relating to waivers, assignments, third party rights, survival of provisions following termination, severability, notices, waiver of jury trials and other provisions.

The Agreement is governed by and construed and enforced in accordance with the laws of Japan, and for all purposes will be construed in accordance with the laws of Japan.

The foregoing description of the Agreement does not purport to be complete and are qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibits 10.1 to this Current Report on Form 6-K and is incorporated herein by reference.

**EXHIBIT INDEX** 

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Independent Director Agreement between rYojbaba Co., Ltd. and Ferdinand Groenewald, dated August 14, 2025](ex10-1.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **RYOJBABA CO., LTD.** | **RYOJBABA CO., LTD.** |
| Date: August 15, 2025 | By: | */s/ Rjoji Baba* |
|  | Name: | Ryoji Baba |
|  | Title: | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**<u>RYOJBABA CO., LTD.</u>**

**<u>Independent Director Agreement</u>**

(Director Name: Mr. Ferdinand Groenewald)

Dated as of August 14, 2025

This Independent Director Agreement (this "Agreement"), dated and made effective as of the date first set forth above (the "Effective Date"), is entered into by and between rYojbaba Co., Ltd., a Japanese corporation ("Company"), and Ferdinand Groenewald ("Director"). The Company and Director may be referred to herein individually as a "Party" or collectively as the "Parties".

WHEREAS, the Company has appointed the Director to the Board of Directors of Company (the "Board") and now desires to enter into an agreement with the Director with respect to Director's continuing service as a director of Company; and

WHEREAS, the Director is willing to continue serving as a director of Company upon the terms and conditions set forth herein and in accordance with the provisions of this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged. the Parties hereby agree as follows:

1. <u>Defined Terms</u>. Wherever the following terms are used in this Agreement, they shall have the meanings ascribed to them below, unless the
 context clearly indicates otherwise. Other capitalized terms in this Agreement are defined in the text hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Affiliate"
 means, with reference to Company, any other Person controlling, controlled by or under the common control of Company. For purposes
 hereof, the term "control" (or any equivalent term) means having ownership of more than fifty percent (50%) of the voting
 securities of a Person or the power, whether through voting power or otherwise, to control the management policies of such Person.

(b) "Person"
 means any natural person, corporation, company, partnership (including both general and limited partnerships), limited liability
 company, sole proprietorship, association, joint stock company, firm, trust, trustee, joint venture, unincorporated organization,
 executor, administrator, legal representative or other legal entity, including any governmental authority, entity or instrumentality.

2. <u>Duties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Director
 agrees to serve as an independent Director of the Company and to be available to perform the duties consistent with such position
 pursuant to the articles of incorporation and bylaws of the Company, and any additional codes, guidelines or policies of the Company
 that may be effective now or in the future (collectively, the "Governance Documents") and the laws of Japan. The Company
 acknowledges that Director currently holds other positions ("Other Employment") and agrees that Director may maintain
 such positions, provided that such Other Employment shall not materially interfere with Director's obligations under this Agreement.
 Director confirms that Director expects Director will be able to devote sufficient time and attention to the Company as is necessary
 to fulfill Director's responsibilities as a Director of the Company and that Director expects the Other Employment will not
 in any way impact Director's independence, and if Director determines that is no longer the case, Director will promptly notify
 the Company. Such time and attention shall include, without limitation, participation in telephonic and/or in-person meetings of
 the Board; provided, that Director is given reasonable advance notice of such meetings and they are scheduled at times when Director
 is available. Director also represents that the Other Employment shall not materially and unreasonably interfere with Director's
 obligations under this Agreement. Subject to the forgoing, Director will use Director's best efforts to promote the interests
 of Company and its shareholders.

(b) Without
 limiting the generality of the foregoing, Director confirms that Director is independent (as such term has been construed under Japanese
 law with respect to directors of Japanese corporations and the OTC Markets, the NASDAQ Stock Exchange and the New York Stock Exchange).
 Director also confirms that, to Director's knowledge, (a) Director does not possess material business, close personal relationships
 or other affiliations, or any history of any such material business, close personal relationships or other affiliations, with the
 Company's significant equity or debt holders or any of their respective corporate affiliates that would cause Director to be
 unable to (i) exercise independent judgment based on the best interests of the Company or (ii) make decisions and carry out Director's
 responsibilities as a Director of the Company, in each case in accordance with the terms of the Governance Documents and applicable
 law, and (b) Director has no existing relationship or affiliation of any kind with any entity Director knows to be a competitor of
 the Company.

(c) By
 execution of this Agreement, Director accepts Director's appointment or election as an independent Director of the Company,
 and agrees to serve in such capacity, subject to the terms of this Agreement, until Director's successor is duly elected and
 qualified or until Director's earlier death, resignation or removal. The Parties acknowledge and agree that Director is being
 engaged to serve as an independent Director of the Company only and is not being engaged to serve, and shall not serve, the Company
 in any other capacity.

(d) Director's
 status during the Term (as defined below) shall be that of an independent contractor and not, for any purpose, that of an employee
 or agent with authority to bind the Company in any respect. All payments and other consideration made or provided to the Director
 hereunder shall be made or provided without withholding or deduction of any kind except Japanese withholding income tax, and the
 Director shall assume sole responsibility for discharging all tax or other obligations associated therewith.

3. <u>Term</u>.
 The term of this Agreement shall continue until the earliest of (a) such time as Director resigns or is removed in accordance with
 the Governance Documents, and (b) the death of the Director (the "Term").

4. <u>Compensation</u>.
 For all services to be rendered by Director hereunder, and so long as Director remains a Director of the Company, the Company shall,
 during the Term, pay to Director the compensation and reimbursement of expenses as set forth in this Section 3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Director
 shall be paid the sum of US$30,000 annually for Director's service as a director of the Company, to be paid US$2,500 per month,
 payable within five business days of the end of each calendar month, and with such amount for any partial calendar month being appropriately
 prorated.

(b) Director
 shall be paid additional compensation for service on committees of the Board as may be agreed by the Company and the Director, subject
 to any approvals required by the Board, subject to the maximum aggregate compensation amount resolved by our shareholders meetings
 as required by applicable law or the rules or regulations of any securities exchange on which the securities of the Company are listed.

(c) During
 the Term, Company shall reimburse Director for all reasonable out-of-pocket expenses incurred by Director in attending any in-person
 meetings, provided that Director complies with the generally applicable policies, practices and procedures of the Company for submission
 of expense reports, receipts or similar documentation of such expenses. Any reimbursements for allocated expenses (as compared to
 out-of-pocket expenses of the Director in excess of US$500.00) must be approved in advance by the Company.

5. <u>Confidentiality</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Definition</u>.
 For purposes of this Agreement, "Confidential Information" shall mean all Company Work Product (as hereinafter defined)
 and all non-public written, electronic, and oral information or materials of Company communicated to or otherwise obtained by Director
 in connection with this Agreement, which is related to the products, business and activities of Company, its Affiliates, and subsidiaries,
 and their respective customers, clients, suppliers, and other entities with which such party does business, including: (i) all costing,
 pricing, technology, software, documentation, research, techniques, procedures, processes, discoveries, inventions, methodologies,
 data, tools, templates, know how, intellectual property and all other proprietary information of Company; (ii) the terms of this
 Agreement; and (iii) any other information identified as confidential in writing by Company. Confidential Information shall not include
 information that: (a) was lawfully known by Director without an obligation of confidentiality before its receipt from Company; (b)
 is independently developed by Director without reliance on or use of Confidential Information; (c) is or becomes publicly available
 without a breach by Director of this Agreement; or (d) is disclosed to Director by a third party which is not required to maintain
 its confidentiality. An "Affiliate" of a Party shall mean any entity directly or indirectly controlling, controlled by,
 or under common control with, such Party at any time during the Term for so long as such control exists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Company Ownership</u>. Company shall retain all right, title, and interest to the Confidential Information, including all copies thereof
 and all rights to patents, copyrights, trademarks, trade secrets and other intellectual property rights inherent therein and appurtenant
 thereto. Subject to the terms and conditions of this Agreement, Company hereby grants Director a non-exclusive, non-transferable,
 license during the Term to use any Confidential Information solely to the extent that such Confidential Information is necessary
 for the performance of Director's duties hereunder. Director shall not, by virtue of this Agreement or otherwise, acquire any
 proprietary rights whatsoever in Confidential Information, which shall be the sole and exclusive property and confidential information
 of Company. No identifying marks, copyright or proprietary right notices may be deleted from any copy of Confidential Information.
 Nothing contained herein shall be construed to limit the rights of Company from performing similar services for, or delivering the
 same or similar deliverable to, third parties using the Confidential Information and/or using the same personnel to provide any such
 services or deliverables.

(c) <u>Confidentiality Obligations</u>. Director agrees to hold the Confidential Information in confidence and not to copy, reproduce, sell, assign, license,
 market, transfer, give or otherwise disclose such Confidential Information to any Person or to use the Confidential Information for
 any purposes whatsoever, without the express written permission of Company.

(d) <u>Required Disclosure</u>. If Director is requested to disclose any of the Confidential Information as part of an administrative or judicial
 proceeding, Director shall, to the extent permitted by applicable law, promptly notify Company of that request and cooperate with
 Company, at Company's expense, in seeking a protective order or similar confidential treatment for the Confidential Information.
 If no protective order or other confidential treatment is obtained, Director shall disclose only that portion of Confidential Information
 which is legally required and will exercise all reasonable efforts to obtain reliable assurances that confidential treatment will
 be accorded the Confidential Information which is required to be disclosed.

(e) <u>Enforcement</u>.
 Director acknowledges that the Confidential Information is unique and valuable, and that remedies at law will be inadequate to protect
 Company from any actual or threatened breach of this Section 5 by Director and that any such breach would cause irreparable and continuing
 injury to Company. Therefore, Director agrees that Company shall be entitled to seek equitable relief with respect to the enforcement
 of this Section 5 without any requirement to post a bond, including, without limitation, injunction and specific performance, without
 proof of actual damages or exhausting other remedies, in addition to all other remedies available to Company at law or in equity.
 For greater clarity, in the event of a breach or threatened breach by Director of any of the provisions of this Section 5, in addition
 to and not in limitation of any other rights, remedies or damages available at law or in equity, Company shall be entitled to a permanent
 injunction or other like remedy in order to prevent or restrain any such breach or threatened breach by Director, and Director agrees
 that an interim injunction may be granted against Director immediately on the commencement of any action, claim, suit or proceeding
 by Company to enforce the provisions of this Section 5, and Director further irrevocably consents to the granting of any such interim
 or permanent injunction or any like remedy. If any action at law or in equity is necessary to enforce the terms of this Section 5,
 Director, if it is determined to be at fault, shall pay Company's reasonable legal fees and expenses on a substantial indemnity
 basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Related Duties</u>. Director shall: (i) promptly deliver to Company upon Company's request all materials in Director's possession
 which contain Confidential Information; (ii) use its best efforts to prevent any unauthorized use or disclosure of the Confidential
 Information; (iii) notify Company in writing immediately upon discovery of any such unauthorized use or disclosure; and (iv) cooperate
 in every reasonable way to regain possession of any Confidential Information and to prevent further unauthorized use and disclosure
 thereof.

(g) <u>Legal Exceptions</u>. Further notwithstanding the foregoing provisions of this Section 5, Director may disclose confidential information
 as may be expressly required by law, governmental rule, regulation, executive order, court order, or in connection with a dispute
 between the Parties; provided that prior to making any such disclosure, subject to applicable law, Director shall use its best efforts
 to: (i) provide Company with at least fifteen (15) days' prior written notice setting forth with specificity the reason(s)
 for such disclosure, supporting documentation therefor, and the circumstances giving rise thereto; and (ii) limit the scope and duration
 of such disclosure to the strictest possible extent.

(h) <u>Limitation</u>.
 Except as specifically set forth herein, no licenses or rights under any patent, copyright, trademark, or trade secret are granted
 by Company to Director hereunder, or are to be implied by this Agreement. Except for the restrictions on use and disclosure of Confidential
 Information imposed in this Agreement, no obligation of any kind is assumed or implied against either Party or their Affiliates by
 virtue of meetings or conversations between the Parties hereto with respect to the subject matter stated above or with respect to
 the exchange of Confidential Information. Each Party further acknowledges that this Agreement and any meetings and communications
 of the Parties and their affiliates relating to the same subject matter shall not: (i) constitute an offer, request, invitation or
 contract with the other Party to engage in any research, development or other work; (ii) constitute an offer, request, invitation
 or contract involving a buyer-seller relationship, joint venture, teaming or partnership relationship between the Parties and their
 affiliates; or (iii) constitute a representation, warranty, assurance, guarantee or inducement with respect to the accuracy or completeness
 of any Confidential Information or the non-infringement of the rights of third persons.

6. <u>Intellectual Property Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Disclosure of Work Product</u>. As used in this Agreement, the term "Work Product" means any invention, whether or not patentable,
 know-how, designs, mask works, trademarks, formulae, processes, manufacturing techniques, trade secrets, ideas, artwork, software
 or any copyrightable or patentable works. Director agrees to disclose promptly in writing to Company, or any Person designated by
 Company, all Work Product that is solely or jointly conceived, made, reduced to practice, or learned by Director in the course of
 any work performed for Company ("Company Work Product"). Director agrees (a) to use Director's best efforts to
 maintain such Company Work Product in trust and strict confidence; (b) not to use Company Work Product in any manner or for any purpose
 not expressly set forth in this Agreement; and (c) not to disclose any such Company Work Product to any third party without first
 obtaining Company's express written consent on a case-by-case basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Ownership of Company Work Product</u>. Director agrees that any and all Company Work Product conceived, written, created or first reduced to
 practice in the performance of work under this Agreement shall be deemed "work for hire" under applicable law and shall
 be the sole and exclusive property of Company.

(c) <u>Assignment of Company Work Product</u>. Director irrevocably assigns to Company all right, title and interest worldwide in and to the Company
 Work Product and all applicable intellectual property rights related to the Company Work Product, including without limitation, copyrights,
 trademarks, trade secrets, patents, moral rights, contract and licensing rights (the "Proprietary Rights"). Except as
 set forth below, Director retains no rights to use the Company Work Product and agrees not to challenge the validity of Company's
 ownership in the Company Work Product. Director hereby grants to Company a perpetual, non-exclusive, fully paid-up, royalty-free,
 irrevocable and world-wide right, with rights to sublicense through multiple tiers of sublicensees, to reproduce, make derivative
 works of, publicly perform, and display in any form or medium whether now known or later developed, distribute, make, use and sell
 any and all Director owned or controlled Work Product or technology that Director uses to complete the services and which is necessary
 for Company to use or exploit the Company Work Product.

(d) <u>Assistance</u>.
 Director agrees to cooperate with Company or its designee(s), both during and after the Term, in the procurement and maintenance
 of Company's rights in Company Work Product and to execute, when requested, any other documents deemed necessary by Company
 to carry out the purpose of this Agreement. Director will assist Company in every proper way to obtain, and from time to time enforce,
 United States and foreign Proprietary Rights relating to Company Work Product in any and all countries. Director's obligation
 to assist Company with respect to Proprietary Rights relating to such Company Work Product in any and all countries shall continue
 beyond the termination of this Agreement, but Company shall compensate Director at a reasonable rate to be mutually agreed upon after
 such termination for the time actually spent by Director at Company's request on such assistance.

(e) <u>Execution of Documents</u>. In the event Company is unable for any reason, after reasonable effort, to secure Director's signature on
 any document requested by Company pursuant to this Section 6 within seven (7) days of the Company's initial request to Director,
 Director hereby irrevocably designates and appoints Company and its duly authorized officers and agents as its agent and attorney
 in fact, which appointment is coupled with an interest, to act for and on its behalf solely to execute, verify and file any such
 documents and to do all other lawfully permitted acts to further the purposes of this Section 6 with the same legal force and effect
 as if executed by Director. Director hereby waives and quitclaims to Company any and all claims, of any nature whatsoever, which
 Director now or may hereafter have for infringement of any Proprietary Rights assignable hereunder to Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Director Representations and Warranties</u>. Director hereby represents and warrants that: (i) Company Work Product will be an original work
 of Director or all applicable third parties will have executed assignments of rights reasonably acceptable to Company; (ii) neither
 the Company Work Product nor any element thereof will infringe the intellectual property rights of any third party; (iii) neither
 the Company Work Product nor any element thereof will be subject to any restrictions or to any mortgages, liens, pledges, security
 interests, encumbrances or encroachments; (iv) Director will not grant, directly or indirectly, any rights or interest whatsoever
 in the Company Work Product to any third party; (v) Director has full right and power to enter into and perform Director's
 obligations under this Agreement without the consent of any third party; (vi) Director will use best efforts to prevent injury to
 any Person (including employees of Company) or damage to property (including Company's property) during the Term; and (vii)
 should Company permit Director to use any of Company's equipment, tools, or facilities during the Term, such permission shall
 be gratuitous and Director shall be responsible for any injury to any Person (including death) or damage to property (including Company's
 property) arising out of use of such equipment, tools or facilities.

7. <u>Director's Representation and Acknowledgment</u>. Director represents to the Company that Director's execution and performance of this
 Agreement shall not be in violation of any agreement or obligation (whether or not written) that Director may have with or to any
 Person, including without limitation, any prior or current employer. The Director hereby acknowledges and agrees that this Agreement
 (and any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the Director shall have
 no recourse whatsoever against any shareholder of Company or any of any of its affiliate or subsidiary companies with respect to
 any matter arising under this Agreement.

8. <u>Effect of Waiver</u>. The waiver by either Party of a breach of any provision of this Agreement shall not operate or be construed as a waiver
 of any subsequent breach hereof. No waiver shall be valid unless in writing.

9. <u>Assignment</u>.
 No Party shall have any power or any right to assign or transfer, in whole or in part, this Agreement, or any of its rights or any
 of its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Agreement
 or the transactions contemplated herein, or to pursue any claim for any breach or default of this Agreement, or any right arising
 from the purported assignor's due performance of its obligations hereunder, without the prior written consent of the other
 Party and any such purported assignment in contravention of the provisions herein shall be null and void and of no force or effect,
 provided that, notwithstanding the foregoing, the Company may transfer, assign or delegate to any successor (whether direct or indirect,
 by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company any of
 Company's rights, obligations or duties hereunder.

10. <u>No Third-Party Rights</u>. Except as expressly provided in this Agreement, this Agreement is intended solely for the benefit of the
 Parties hereto and is not intended to confer any benefits upon, or create any rights in favor of, any Person other than the Parties
 hereto.

11. <u>Entire Agreement; Effectiveness of Agreement</u>. This Agreement sets forth the entire agreement of the Parties hereto and shall supersede
 any and all prior agreements and understandings concerning the Director's employment by the Company. This Agreement may be
 changed only by a written document signed by the Director and the Company.

12. <u>Survival</u>.
 The provisions of Section 5, Section 6, and Section 9 through Section 22, inclusive, shall survive any termination or expiration
 of this Agreement, and provided that any expiration or termination of this Agreement shall not excuse a Party from compliance with,
 or fulfillment of, any obligations or conditions which arose prior to such expiration or termination.

13. <u>Severability</u>.
 If any one or more of the provisions, or portions of any provision, of the Agreement shall be held to be invalid, illegal or unenforceable,
 the validity, legality or enforceability of the remaining provisions or parts hereof shall not in any way be affected or impaired
 thereby.

14. <u>Governing Law and Waiver of Jury Trial</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined, and this Agreement
 shall be governed by and construed and enforced in accordance with the internal laws of Japan, and for all purposes shall be construed
 in accordance with the laws of Japan, without giving effect to the choice of law provisions of Japan.

(b) each
 Party agrees that all legal proceedings concerning this Agreement shall be commenced in the COURTS OF JAPAN LOCATED IN TOKYO, JAPAN
 (the "Selected Courts"). Each Party hereto hereby irrevocably submits to the exclusive jurisdiction of the Selected Courts
 for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed
 herein (including with respect to the enforcement of the rights of a Party under this Agreement), and hereby irrevocably waives,
 and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such
 Selected Courts, or such Selected Courts are improper or inconvenient venue for such proceeding. Each Party hereby irrevocably waives
 personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
 via registered or certified mail or overnight delivery (with evidence of delivery) to such Party at the address in effect for notices
 to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.
 Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable
 law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) TO
 THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
 OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES
 THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
 NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE
 BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 14(c).

(d) If
 any Party shall commence an action or proceeding to enforce any provisions of this Agreement, then the prevailing Party in such action
 or proceeding shall be reimbursed by the other Party for its attorney's fees and other costs and expenses incurred in the investigation,
 preparation and prosecution of such action or proceeding.

15. <u>General Remedies</u>. Each Party acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the other Party,
 and thus each Party acknowledges that the remedy at law for a breach of its obligations under this Agreement will be inadequate and
 agrees, in the event of a breach or threatened breach by such Party of the provisions of this Agreement, that the other Party shall
 be entitled, in addition to all other available remedies at law or in equity, and in addition to the penalties assessable herein,
 to an injunction or injunctions restraining, preventing or curing any breach of this Agreement and to enforce specifically the terms
 and provisions hereof, without the necessity of showing economic loss and without any bond or other security being required.

16. <u>Indemnification</u>.
 During the Term, the Director shall be entitled to indemnification and insurance coverage for officers' liability, fiduciary
 liability and other liabilities arising out of the Director's position with the Company in any capacity, in an amount not less
 than the highest amount available to any other director, and such coverage and protections, with respect to the various liabilities
 as to which the Director has been customarily indemnified prior to termination of employment, shall continue for at least six years
 following the end of the Term. Any indemnification agreement entered into between the Company and the Director shall continue in
 full force and effect in accordance with its terms following the termination of this Agreement.

17. <u>Expenses</u>.
 Other than as specifically set forth herein, each of the Parties will bear their own respective expenses, including legal, accounting
 and professional fees, incurred in connection with this Agreement and the transactions contemplated herein.

18. <u>Notices</u>.
 All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other Party, or by
 registered or certified mail, return receipt requested, postage prepaid, or by email with return receipt requested and received or
 nationally recognized overnight courier service, addressed as set forth below or to such other address as either Party shall have
 furnished to the other in writing in accordance herewith. All notices, requests, demands and other communications shall be deemed
 to have been duly given (i) when delivered by hand, if personally delivered, (ii) when delivered by courier or overnight mail, if
 delivered by commercial courier service or overnight mail, and (iii) on receipt of confirmed delivery, if sent by email.

If to the Company:

rYojbaba Co., Ltd.

Attn: Ryoji Baba

4-3-1, Ohashi, Minami-Ku

Fukuoka-Shi, Fukuoka, 815-0033, Japan

Email: baba@sr-baba.jp

If to Director, to the address for notices as set forth on the signature page hereof:

19. <u>Headings</u>.
 The section headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or
 interpretation of this Agreement.

20. <u>Counsel</u>.
 The Parties acknowledge and agree that Anthony, Linder & Cacomanolis, PLLC ("Counsel") has acted as legal counsel
 to the Company, and that Counsel has prepared this Agreement at the request of the Company, and that Counsel is not legal counsel
 to Director individually. Each of the Parties acknowledges and agrees that they are aware of, and have consented to, the Counsel
 acting as legal counsel to the Company and preparing this Agreement, and that Counsel has advised each of the Parties to retain separate
 counsel to review the terms and conditions of this Agreement and the other documents to be delivered in connection herewith, and
 each Party has either waived such right freely or has otherwise sought such additional counsel as it has deemed necessary. Each of
 the Parties acknowledges and agrees that Counsel does not owe any duties to Director in Director's individual capacity in connection
 with this Agreement and the transactions contemplated herein. Each of the Parties hereby waives any conflict of interest which may
 apply with respect to Counsel's actions as set forth herein, and the Parties confirm that the Parties have previously negotiated
 the material terms of the agreements as set forth herein.

21. <u>Rule of Construction</u>. The general rule of construction for interpreting a contract, which provides that the provisions of a contract
 should be construed against the Party preparing the contract, is waived by the Parties hereto. Each Party acknowledges that such
 Party was represented by separate legal counsel in this matter who participated in the preparation of this Agreement or such Party
 had the opportunity to retain counsel to participate in the preparation of this Agreement but elected not to do so.

22. <u>Execution in Counterparts, Electronic Transmission</u>. This Agreement may be executed in any number of counterparts, each of which shall be
 deemed an original. The signature of any Party which is transmitted by any reliable electronic means such as, but not limited to,
 a photocopy, electronically scanned or facsimile machine, for purposes hereof, is to be considered as an original signature, and
 the document transmitted is to be considered to have the same binding effect as an original signature or an original document.

*[Signatures appear on following page]*

 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

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| | |
|:---|:---|
| rYojbaba Co., Ltd. | rYojbaba Co., Ltd. |
| By: | /s/ Ryoji Baba |
| Name: | Ryoji Baba |
| Title: | Chief Executive Officer |

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| | |
|:---|:---|
| Ferdinand Groenewald | Ferdinand Groenewald |
| By: | /s/ Ferdinand Groenewald |
| Name: | Ferdinand Groenewald |

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| | |
|:---|:---|
| Address for notices: | Address for notices: |
| Ferdinand Groenewald | Ferdinand Groenewald |
| Email: | ferdig42@gmail.com |

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