Document:

ex10-1.htm

 

Execution Copy

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) dated as of March 21, 2013 is entered into by and among The Middleby Corporation, a Delaware corporation (the “Company”), Middleby Marshall Inc., a Delaware corporation (“MMI”), (collectively the “Employer”), and Timothy J. FitzGerald (“Employee”).

 

R E C I T A L S

 

The Employer is a party to an employment agreement with Employee, dated March 1, 2010, (the “Employment Agreement”).

 

The Employer desires to continue and extend the term of employment of Employee as Vice President and Chief Financial Officer of the Company and as Vice President and Chief Financial Officer of MMI, and Employee desires to serve the Employer in such capacities, all on the terms and conditions hereinafter provided.

 

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, Employee’s employment by the Employer, the compensation to be paid Employee while employed by the Employer, and other good and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties agree as follows:

 

	
1.

	
Employment. The Employer agrees to employ Employee and Employee agrees to be employed by the Employer subject to the terms and provisions of this Agreement.

 

	
2.

	
Term. The term of this Agreement shall be for a period commencing on March 1, 2013 (the “Effective Date”) and ending on December 31, 2017, unless sooner terminated as provided in Section 5; provided, however, that the term of this Agreement shall be deemed to be automatically extended, upon the same terms and conditions, for successive periods of one (1) year each for periods after December 31, 2017, unless Employee or Employer, as the case may be, provides at least one hundred and eighty (180) days prior written notice to the other party of an intention not to renew this Agreement.

 

	
3.

	
Duties. Employee shall serve as Vice President and Chief Financial Officer of the Company and Vice President and Chief Financial Officer of MMI, or in such other executive capacities as the Board of Directors of the Company or MMI, as applicable, may designate and shall have such powers and duties as may be from time to time prescribed by the Board of Directors of the Company or MMI, as applicable. Employee shall devote substantially all of his time and effort as reasonably may be required for him to perform the duties and responsibilities to be performed by him under the terms of this Agreement.

 

	
4.

	
Compensation.

 

	
  

	
(a)

	
Base Salary. The Employer shall pay to Employee a base salary at a rate per annum of $575,000, payable in accordance with the normal payroll practices of Employer.

  

  

  

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(b)

	
Incentive Compensation. Employee shall be eligible to participate in, and earn an annual bonus under, the management incentive programs adopted by the Employer from time to time, subject to all terms and conditions thereof, based upon the achievement of performance targets established in the sole discretion of Employer.

 

	
5.

	
Termination.

 

	
  

	
(a)

	
Employee’s employment hereunder may be terminated by Employer or by Employee at any time, or by the death of Employee. Such termination shall automatically terminate all of the Employer’s obligations not theretofore accrued under this Agreement other than as specifically set forth in this Agreement or in any employee benefit plan, program or arrangement in which Employee participates. If the Employer terminates Employee’s employment under this Agreement (as hereafter amended or extended) without “Cause,” as defined below, or if employment is terminated due to Employee’s death or disability, incentive compensation under the Employer’s annual incentive programs  for any year shall be deemed to have accrued as of the date of termination if and to the extent that incentive compensation under such annual incentive program would have been payable to Employee if he had been employed on the last day of such fiscal year and shall be (i) pro rated based on the number of days that Employee was employed during the fiscal year and (ii) payable in the following fiscal year, on the earlier of March 15 or at the same time as incentive compensation under the annual incentive program for such year is paid to those employees who are still employed by the Employer.

 

	
  

	
(b)

	
Notwithstanding anything to the contrary contained in this Agreement, in the event that the Employer terminates Employee’s employment under this Agreement (as hereafter amended or extended) without “Cause,” as defined below, (for this purpose, not including termination due to Employee’s death or disability), Employee shall be entitled to a lump sum amount equal to three (3) times the sum of (A) Employee’s annual base salary as in effect immediately prior to the date of the termination and (B) the greater of (x) the amount of Employee’s incentive compensation under the Company’s Value Creation Incentive Plan, as currently in effect and as may be renewed from time to time, with respect to the full calendar year immediately prior to the date of the termination and (y) the average of Employee’s incentive compensation under the Value Creation Incentive Plan for each of the three calendar years immediately prior to the date of the termination, payable in one lump sum within thirty (30) days of the date of termination.

 

	
  

	
(c)

	
If the duties assigned by the Employer to Employee are materially diminished, or become inconsistent with those assigned to a Chief Financial Officer of a similarly situated publicly traded company, and such change in duties is not cured by the Employer within ten (10) days following receipt by the Board of written notice from Employee, such change in duties shall be deemed a termination by the Employer of Employee’s employment without Cause, pursuant to the terms of this

  

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Agreement, and Employee shall be entitled to resign his employment hereunder and to thereafter receive all rights, benefits and payments set forth in Sections 5(a) and (b).

 

	
  

	
(d)

	
For purposes of this Section 5, the term “Cause” shall mean termination of Employee’s employment due to his willful misconduct in respect of his obligations to the Company occurring during the course of his employment, including violations of the Company’s code of conduct or code of ethics, which in either case results in or would reasonably be expected to result in material damage to the property, business or reputation of the Company or its affiliates; provided, however, that in no event shall unsatisfactory job performance alone be deemed to be Cause; and provided, further, that, to the extent curable, Employee shall have 30 calendar days after receiving written notice from the Company in which to cure any of the actions or inactions that would otherwise result in Cause.

 

	
  

	
(e)

	
Notwithstanding anything to the contrary contained herein (or any other agreement entered into by and between the Employer and Employee or any incentive arrangement or plan offered by the Company), in the event that any amount or benefit paid or distributed to Employee pursuant to this Agreement, taken together with any amounts or benefits otherwise paid to Employee by the Employer (collectively, the “Covered Payments”), would constitute an “excess parachute payment” as defined in Section 280G of the Code, and would thereby subject Employee to an excise tax under Section 4999 of the Code (an “Excise Tax”), the provisions of this Section 5(e) shall apply.  If the aggregate present value (as determined for purposes of Section 280G of the Code) of the Covered Payments exceeds the amount which can be paid to Employee without Employee incurring an Excise Tax, then, solely to the extent that Employee would be better off on an after tax basis by receiving the maximum amount which may be paid hereunder without Employee becoming subject to the Excise Tax, as determined by Employee in his sole discretion, the amounts payable to Employee under this Agreement (or any other agreement by and between the Employee and Employee or pursuant to any incentive arrangement or plan offered by the Company) shall be reduced (but not below zero) to the maximum amount which may be paid hereunder without Employee becoming subject to the Excise Tax (such reduced payments to be referred to as the “Payment Cap”).  In the event Employee receives reduced payments and benefits as a result of application of this Section 5(e), Employee shall have the right to designate which of the payments and benefits otherwise set forth herein (or any other agreement between the Company and Employee or any incentive arrangement or plan offered by the Company) shall be received in connection with the application of the Payment Cap, subject to the following sentence.  Reduction shall first be made from payments and benefits which are determined not to be nonqualified deferred compensation for purposes of Section 409A of the Code, and then shall be made (to the extent necessary) out of payments and benefits which are subject to Section 409A of the Code and which are due at the latest future date.

  

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6.

	
Payment. Payment of all compensation and benefits to Employee hereunder shall be made in accordance with the relevant policies of the Employer in effect from time to time and shall be subject to all applicable employment and withholding taxes.

 

	
7.

	
Successors. This Agreement shall be binding upon, and inure to the benefit of and be enforceable by, Employer and its successors and assigns. This Agreement shall inure to the benefit of Employee’s heirs, legatees, legal representatives and assigns, but neither this Agreement nor any right or interest hereunder shall be assignable by Employee without Employer’s prior written consent.

 

	
8.

	
Notices. All notices, requests, demands and other communications made or given in connection with this Agreement shall be in writing and shall be deemed to have been duly given (a) if delivered, at the time delivered or (b) if mailed, at the time mailed at any general or branch United States Post Office enclosed in a certified post-paid envelope addressed to the address of the respective parties as follows:

	 	
To the Company:

	 	
1400 Toastmaster Drive

	 	  	 	
Elgin, Illinois 60120

	 	  	 	
Attention: Chief Executive Officer

	 	  	 	  
	 	
To MMI:

	 	
1400 Toastmaster Drive

	 	  	 	
Elgin, Illinois 60120

	 	  	 	
Attention: Chief Executive Officer

	 	  	 	  
	 	
To Employee:

	 	
Timothy J. FitzGerald

	 	  	 	
1400 Toastmaster Drive,

	 	  	 	
Elgin, Illinois 60010

 

or to such other address as the party to whom notice is to be given may have previously furnished to the other party in writing in the manner set forth above, provided that notices of changes of address shall only be effective upon receipt.

 

	
9.

	
Modifications and Waivers. This Agreement may be modified or amended only by a written instrument executed by the Employer and Employee. No term or condition of this Agreement shall be deemed to have been waived nor shall there be any estoppel to enforce any provision of this Agreement except by written instrument of the party charged with such waiver or estoppel.

 

	
10.

	
Entire Agreement. This Agreement supersedes all prior agreements between the parties hereto relating to the subject matter hereof, including but not limited to the Employment Agreement, which is terminated hereby, and constitutes the entire agreement of the parties hereto relating to the subject matter hereof.

  

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11.

	
Law Governing. The validity, interpretation, construction, performance and enforcement of this Agreement shall be governed by the laws of the State of Illinois without regard to principles of conflicts of laws.

 

	
12.

	
Invalidity. The invalidity or unenforceability of any term or terms of this agreement shall not invalidate, make unenforceable or otherwise affect any other term of this Agreement which shall remain in full force and effect.

 

	
13.

	
Headings. The headings contained herein are for reference only and shall not affect the meaning or interpretation of this Agreement.

 

	
14.

	
Joint and Several Liability. The liability hereunder of the Company and MMI shall be joint and several.

 

	
15.

	
Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

	
16.

	
Section 409A. It is intended that the payments and benefits under this Agreement comply with, or as applicable, constitute a short-term deferral or otherwise be exempt from, the provisions of Section 409A of the Code and the regulations and other guidance issued thereunder (“Section 409A”). The Employer shall administer and interpret this Agreement in a manner so that such payments and benefits comply with, or are otherwise exempt from, the provisions of Section 409A. Any provision that would cause this Agreement to fail to satisfy Section 409A will have no force and effect until amended to comply therewith (which amendment may be retroactive to the extent permitted by Section 409A). Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A, Employee shall not be considered to have terminated employment with the Employer for purposes of this Agreement and no payments shall be due to Employee under this Agreement providing for payment of amounts on termination of employment unless Employee would be considered to have incurred a “separation from service” from the Employer within the meaning of Section 409A. To the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement during the six-month period immediately following Employee’s termination of employment shall instead be paid on the first business day after the date that is six months following Employee’s termination of employment (or upon death, if earlier). In addition, for purposes of this Agreement, each amount to be paid or benefit to be provided to Employee pursuant to this Agreement which constitutes deferred compensation subject to Section 409A shall be construed as a separate identified payment for purposes of Section 409A.

 

With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, of in-kind

  

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benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, and (iii) such payments shall be made on or before the last day of Employee’s taxable year following the taxable year in which the expense occurred. Any tax gross-up payment as provided herein shall be made in any event no later than the end of the calendar year immediately following the calendar year in which Employee remits the related taxes, and any reimbursement of expenses incurred due to a tax audit or litigation shall be made no later than the end of the calendar year immediately following the calendar year in which the taxes that are the subject of the audit or litigation are remitted to the taxing authority, or, if no taxes are to be remitted, the end of the calendar year following the calendar year in which the audit or litigation is completed.

 

  

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year set forth above.

 

	
EMPLOYEE

	  	
THE MIDDLEBY CORPORATION

	  
	  	  	  	  	  
	
  /s/ Timonty J. FitzGerald

	  	
By:    

	
  /s/ John R. Miller III

	  
	
Timothy J. FitzGerald

	  	  	John R. Miller	  
	  	  	  	  	  
	  	  	
MIDDLEBY MARSHALL INC.

	  
	  	  	  	  	  
	  	  	
By:

	
  /s/ John R. Miller III

	  
	  	  	  	John R. MillerExhibit 10.3

 

 

BUSINESS CONSULTING AGREEMENT

 

 

THIS BUSINESS CONSULTING AGREEMENT, effective
March 20, 2013, is entered into by Infinity Holdings, Ferrare Bldg. 6F, 1-24-15 Ebisu, Shibuya-ku, Tokyo 150-0013, Japan (herein
called CONSULTANT) and Your Event, Inc., having his principal place of business at 1601 Pacific Coast Highway Suite 250, Hermosa
Beach, CA 90254 (herein called CLIENT).

 

ARTICLE I

BACKGROUND OF AGREEMENT

 

CONSULTANT
represents that they are seeking business opportunities for the CLIENT, specifically sports memorabilia to sell in the U.S. (herein
called BRAND). The CONSULTANT represents they have a business relationship in place with different people and business entities
in order to help the CLIENT build their business operations in the U.S. CONSULTANT, for good and valuable consideration is prepared
to help the CLIENT obtain rights, title and interest to market the BRAND, subject to certain terms and conditions. This includes
without limitation: a) support towards obtaining licenses; b) provide necessary personnel to conduct business in the US; c) support
product development and sales, and d) support financial management.

 

1.01 CLIENT wishes to acquire the
rights of the BRAND for purposes of distributing and selling the BRAND to major U.S. sports teams via their channels of distribution
both domestically and internationally, whereby the Brand is marketed and distributed by the CLIENT under the same brand name to
third parties.

 

1.02 CLIENT wishes to acquire all
rights, title and interest in all domestic sales

and distribution with the major U.S. sports
teams on an exclusive basis that relates to the BRAND and any rights obtained in the future by the CONSULTANT, including all improvements
and DESIGN enhancements to the BRAND.

 

 

ARTICLE II

DEFINITIONS

 

As used herein, the following terms shall have
the meanings set forth below:

 

2.00 CONFIDENTIAL INFORMATION
is that information that is transmitted by

CONSULTANT and received by CLIENT that is considered
by CONSULTANT to be CONFIDENTIAL and PROPRIETARY INFORMATION.

 

2.01 EFFECTIVE DATE shall be
March 20, 2013.

 

2.02BRAND means the sports memorabilia
DESIGN printed on any product sold and distributed to a professional sports team, as well as sports memorabilia DESIGN used in
marketing the product to the sports teams.

 

2.03 FIELD means, IMPROVEMENTS,
DESIGNS, TRADEMARKS that may be issued

in the future, PROPRIETARY INFORMATION, TRADE
SECRETS, and the BRAND for purposes of using the BRAND on an exclusive basis with professional sports teams via their channels
of distribution both domestically and internationally.

 

2.04PRODUCTS or DESIGNS means
any and all sports memorabilia products which fall within the FIELD and which are covered by, marked or are produced using a process
or method covered by a claim of and IMPROVEMENTS, PROPRIETARY INFORMATION, DESIGNS, TRADE SECRETS, TECHNICAL and BRAND of CONSULTANT
for purposes of commercially using the BRAND.

 

2.05 PROCESS AND BRAND means
any and all process or proprietary Brand, DESIGN

features or components which fall within the
FIELD which were developed by the CONSULTANT or his affiliates and which are covered by, marked or are produced using a process
or method covered by a claim of PROPRIETARY INFORMATION, TRADE SECRETS, TECHNICAL and BRAND of CONSULTANT for purposes of commercially
utilizing the PRODUCT(S).

 

2.06 TERRITORY shall mean all professional
sport leagues channels of distribution both domestically and internationally.

 

2.07 CLIENT means
Your Event, Inc., a Nevada corporation.

 

2.08 CONSULTANT means Infinity Holdings.

 

2.09PROPRIETARY INFORMATION
means all information possessed by the CONSULTANT that is CONFIDENTIAL in nature and that the CONSULTANT has exclusive rights in
and to. It includes TRADE SECRETS, TECHNICAL and BRAND information as related to the BRAND.

 

2.10 TECHNICAL information means
all PROPRIETARY INFORMATION, TRADE SECRETS, DESIGNS, BRAND information contained in TRADEMARK(S) that may issue or TRADEMARK APPLICATION(S)
and IMPROVEMENTS that is the exclusive property of CONSULTANT or their associates, developed or acquired as of the date of this
agreement which would be useful in the making, using and selling of the PRODUCTS in the TERRITORY.

 

2.11 TRADE SECRET means any CONFIDENTIAL
INFORMATION that is the

personal property of CONSULTANT and in which
they have an exclusive right.

 

 

 

ARTICLE III

THE DESIGNS AND BRAND

 

3.00CONSULTANT,
hereby grants to CLIENT, the IMPROVEMENTS, DESIGNS, PROPRIETARY INFORMATION including TRADE SECRETS, TECHNICAL and BRAND for the
purpose of using sports memorabilia PRODUCTS and the DESIGNS and BRAND, for use in marketing and distribution sports memorabilia
products to major league sports teams.

 

(a)                                          
The Parties agree that any IMPROVEMENTS, design changes, modifications or developments of the BRAND, made by CONSULTANT
shall be available to CLIENT in the TERRITORY at no additional cost. In the event CONSULTANT makes application for new TRADEMARKS
or DESIGNS, the CLIENT shall have the right to use any newly developed product, design or Brand under this Agreement.

 

(b)                                          
The Parties further agree that any IMPROVEMENTS, design changes, modifications or developments of the BRAND made
by CLIENT or their CLIENT, which may be trademarked, may be made or used in the TERRITORY by the CLIENT. CLIENT shall promptly
inform CONSULTANT of any such IMPROVEMENTS or of the filing of any trademark applications by CLIENT or their CLIENT. Any IMPROVEMENTS,
design changes, modifications or developments of the BRAND by CLIENT or their CLIENT are construed to be a part of this Agreement
and CLIENT shall be bound to all terms and conditions contained in this Agreement.

 

3.01 CONSULTANT further
grants to CLIENT, to the extent of the FIELD and TERRITORY, a right to use any sports memorabilia TRADEMARK, by the
CONSULTANT or their CLIENT, relating to the BRAND.

 

 

 

ARTICLE IV

Conditions
Precedent to CLIENT’s Performance

 

4.00Conditions. CLIENT’s
obligations hereunder shall be subject to the satisfaction at or before the Effective Date of all the conditions set forth in this
Article IV. CLIENT may waive any or all of these conditions in whole or in part without prior notice; provided, however, that no
such waiver of a condition shall constitute a waiver by CLIENT of any other condition of or any of CLIENT’s rights or remedies,
at law or in equity, if CONSULTANT shall be in default of any of its representations, warranties or covenants under this Agreement.

 

4.01Accuracy of Representations.
Except as otherwise permitted by this Agreement, all representations and warranties by CONSULTANT in this Agreement or in any written
statement that shall be delivered to CLIENT by CONSULTANT under this Agreement shall be true and accurate on and as of the Closing
Date as though made at that time.

 

4.02Performance. CONSULTANT
shall have performed, satisfied and complied with all covenants, agreements and conditions required by this Agreement to be performed
or complied with by it on or before the Closing Date.

 

4.03Conditions Precedent by
the CLIENT, before any payment(s) are made to the CONSULTANT the following must take place:

 

a) CLIENT concludes licensing agreement with a distributor;

b) CLIENT concludes fee structure agreement with distribution
outlets;

c) CLIENT does not need to finance (i.e. payment terms
will allow CLIENT to

receive payment from distribution
outlets before CLIENT pays third party for goods sold), and

 

 

ARTICLE V

Conditions
Precedent to CONSULTANT’s Performance

 

5.00Conditions. CONSULTANT’s
obligations hereunder shall be subject to the satisfaction at or before the Effective Date of all the conditions set forth in this
Article V. CONSULTANT may not waive any or all of these conditions in whole or in part without prior notice; provided, however,
that no such waiver of a condition shall constitute a waiver by CONSULTANT of any other condition of or any of CONSULTANT’s
rights or remedies, at law or in equity, if CLIENT shall be in default of any of its representations, warranties or covenants under
this Agreement.

 

5.01Accuracy of Representations.
Except as otherwise permitted by this Agreement, all representations and warranties by CLIENT in this Agreement or in any written
statement that shall be delivered to CONSULTANT by CLIENT under this Agreement shall be true and accurate on and as of the Closing
Date as though made at that time.

 

5.02Performance. CLIENT shall
have performed, satisfied and complied with all covenants, agreements and conditions required by this Agreement to be performed
or complied with by it on or before the Closing Date.

 

5.03Best Efforts. The CONSULTANT
shall use their best efforts to help the CLIENT secure and obtain the rights to market and distribute the BRAND in the TERRITORY.

 

 

 

ARTICLE VI

PAYMENTS TO THE CONSULTANT

 

6.00 CLIENT shall, on the EFFECTIVE
DATE, due on February __, 2013, agrees to pay to CONSULTANT, as consideration for the services and work provided:

 

a) One Hundred and Twenty Million (120,000,000)
Japanese Yen in cash, which can be paid over a five (5) year period;

 

b) One (1) million shares will be issued to
the CONSULTANT when the CLIENT completes equity financing from third parties.

 

c) The CONSULTANT has a stock option to purchase
two (2) million restricted shares (exercise price of $1) at any time during the next five years; and

 

Once all payments are made, the CLIENT has
exclusive distributorship of the items as authorized by applicable professional sport leagues and Sanrio.

 

     

     

    

 

 

ARTICLE VII

CONFIDENTIALITY

 

7.00 CONSULTANT,
CLIENT, employees of both parties and Third Parties shall not disclose, by any method of communication, any PROPRIETARY INFORMATION,
TRADE SECRETS, DESIGNS and BRAND INFORMATION or other CONFIDENTIAL INFORMATION.

 

 

ARTICLE VIII

PRIVATE LABELS

 

 8.00 PRODUCTS used pursuant
to this AGREEMENT, may be used under thesports memorabilia TRADEMARK(S) or DESIGNS based on the rights CLIENT holds.

 

8.01 The PRIVATE
LABEL of the PRODUCT shall comply with the appropriate regulations of all governmental agencies of the country within the TERRITORY.

 

8.02 As long as
this exclusive AGREEMENT or any modification or extension thereof remains in force and effect, CLIENT shall have the right to each
such PRIVATE LABEL or trademark to be used exclusively by CLIENT on PRODUCT with the major league sports teams, provided the CLIENT
has obtain such rights.

 

 

 

ARTICLE IX

REPRESENTATIONS AND DISCLAIMER OF WARRANTIES

 

9.00 CONSULTANT SHALL DEFEND ANY
INFRINGEMENT ON BEHALF OF CLIENT OR ANY OTHER PERSON FOR, OR ON ACCOUNT OF ANY INJURY, LOSS OR DAMAGE OF ANY KIND OR NATURE, SUSTAINED
BY, OR ANY DAMAGE ASSESSED OR ASSERTED AGAINST, OR ANY OTHER LIABILITY INCURRED BY OR IMPOSED UPON CLIENT OR ANY OTHER PERSON,
ARISING OUT OF OR IN CONNECTION WITH, OR RESULTING FROM:

 

(a)                   THE PRODUCTION, USE OR SALE OF ANY PRODUCT, OR THE PRACTICE OF ANY TRADEMARKS OR DESIGNS, IMPROVEMENTS; OR

 

(b)          ANY
ADVERTISING OR OTHER PROMOTIONAL ACTIVITIES WITH RESPECT TO ANY OF THE FOREGOING.

 

     

     

    

 

 

 

ARTICLE X

TERMINATION

 

10.00 This Agreement shall terminate
if either party shall be:

 

(a)            
in default of any obligation hereunder; or

(b)            
shall be adjudged bankrupt; or shall become insolvent; or

(c)       
shall make an assignment for the benefit of creditors;

 

10.01 The word "termination"
and cognate words, such as "term" and "terminate", used in this agreement, are to read, except where the contrary
is specifically indicated, as omitting from their effect, the following rights and obligations, all of which survive any termination
to the degree necessary to permit their complete fulfillment or discharge for any cause of action or claim of CONSULTANT accrued
or to accrue, because of any breach or default by CLIENT.

 

 

ARTICLE XI

LITIGATION

 

 11.00 Each party shall notify the
other party in writing of any suspected infringement(s) of

any TRADEMARK(S) that may issue, TRADEMARK
APPLICATIONS and IMPROVEMENTS, DESIGNS, PROPRIETARY INFORMATION, TRADE SECRETS, TECHNICAL and BRAND information, in the TERRITORY,
and shall inform the other party of any evidence of such infringement(s).

 

11.01 CONSULTANT shall have the first
right to institute suit for infringement(s) in the FIELD and in the TERRITORY. CLIENT agrees to join as a party plaintiff in any
such lawsuit initiated by CONSULTANT, if requested by CONSULTANT, with all costs, attorney fees, and expenses to be paid by CONSULTANT.
However, if CLIENT does not institute suit for infringement(s) within ninety (90) days of receipt of written notice from CLIENT
of CONSULTANT’S desire to bring suit for infringement on its own behalf, then CLIENT may, at its own expense, bring suit
or take any other appropriate action.

 

11.02 Either party may settle with
an infringer without the prior approval of the other

party if such settlement would not affect the
rights of the other party under any TRADEMARK that may issue, IMPROVEMENTS, DESIGNS, PROPRIETARY INFORMATION, TRADE SECRETS, TECHNICAL
and BRAND information.

 

 

ARTICLE XII

SEVERABILITY

 

12.00 The parties agree that
if any part, term or provision of this Agreement shall be found

illegal or in conflict with any valid controlling
law, the validity of the remaining provisions shall not be affected thereby.

 

12.01 In the event the legality
of any provision of this agreement is brought into question

because of a decision by a court of competent
jurisdiction, either Party, by written notice to the other Party, may revise the provision in question or may delete it entirely
so as to comply with the decision of said court.

 

 

 

ARTICLE XIII

NON-USE OF CONSULTANT'S NAME

 

13.00 In publicizing anything
used under this Agreement, CLIENT shall not use

the name of CONSULTANT or otherwise refer to
any organization related to CONSULTANT, except with the written approval of CONSULTANT. CLIENT is authorized to make public the
name of the CONSULTANT and describe the contractual relationship between the CONSULTANT with respect to its fully reporting requirements
as a publicly traded company, whereby such disclosures are a requirement of the Securities Act of 1933 or 1934.

 

 

ARTICLE XIV

WAIVER, INTEGRATION, ALTERATION

 

14.00 The waiver of a breach
hereunder may be affected only by a writing signed by the

waiving party and shall not constitute a waiver
of any other breach. APPLICATIONS and IMPROVEMENTS, DESIGNS, PROPRIETARY INFORMATION, TRADE SECRETS, TECHNICAL and BRAND information.

 

14.02 A provision of this Agreement
may be altered only by a writing signed by both

parties, except as provided in this Section.

 

 

ARTICLE XV

APPLICABLE LAW

 

15.00 This Agreement shall be
constructed in accordance with the substantive laws of

the State of Nevada.

 

15.01The language under which
this Agreement shall be interpreted, arbitrated or

litigated shall be English.

 

     

     

    

 

 

 

ARTICLE XVI

NOTICES UNDER THE AGREEMENT

 

CONSULTANT:

 

Infinity Holdings, Inc.

Ferrare Bldg. 6F

1-24-15 Ebisu, Shibuya-ku

Tokyo 150-0013

Japan

 

 

CLIENT:

 

Your Event, Inc.

1601 Pacific Coast Highway Suite 250,

Hermosa Beach, CA 90254

 

or any other addresses of which either party
shall notify the other party in writing.

 

 

ARTICLE
XVII

Counterparts
and Facsimile Signatures.

 

This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
For purposes of this Agreement, facsimile or PDF signatures shall be treated as originals until such time that applicable pages
bearing non-facsimile signatures are obtained from the relevant party or parties.

     

     

    

 

 

IN WITNESS WHEREOF the parties have
caused this Agreement to be executed by their duly authorized officers and/or as an individual on the respective dates and at the
respective places hereinafter set forth.

 

 

CONSULTANT:

 

Infinity Holdings, Inc.

 

 

By: /s/ Tetsuya Imamura

Name: Tetsuya Imamura

President

 

 

CLIENT: 

 

Your Event, Inc.

 

 

By: /s/ Masatoshi Suga

Name: Masatoshi Suga

VP, CFO, Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00214-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00214-of-00352.parquet"}]]