Document:

EXHIBIT 10.2

 

CONSULTING AGREEMENT

 

THIS AGREEMENT is made as of this 1st day of June, 2011.

 

BETWEEN:

 

CORVUS GOLD INC., a body corporate having an office at #2300-1177
West Hastings Street, Vancouver, BC V6E 2K3

 

(hereinafter referred to as the “Company”)

OF THE FIRST PART

 

AND:

 

BLUE PEGASUS CONSULTING INC., of 824 Gauthier Avenue, Coquitlam,
BC V3K 1R9

 

(hereinafter referred to as the “Consultant”)

OF THE SECOND PART

 

AND:

 

PEGGY WU

 

(hereinafter referred to as the “Principal”)

OF THE THIRD PART

 

WHEREAS the Company carries on a mineral exploration
and development business in Canada and the United States;

 

AND WHEREAS the Company wishes to retain the
services of the Consultant, in the capacity of Chief Financial Officer, to assist in the furtherance of the business;

 

AND WHEREAS the Company and the Consultant have
agreed that the consulting relationship will be governed by the terms and conditions of this Consulting Agreement;

 

AND WHEREAS the Principal is the beneficial
owner, director and employee of the Consultant and will be providing such services on behalf of the Consultant.

 

NOW THEREFORE for and in consideration of the
provision of services by the Consultant to the Company and for the Base Fees and Payments to the Consultant hereunder, and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Consultant and the Company,
the parties have executed this Agreement to indicate their agreement to the terms and conditions of the consulting services as
set out below.

 

 

		1.	Definitions

 

		1.1.	“Agreement” means this Consulting Agreement along with the Schedules referred to herein,
as may be supplemented and amended pursuant to the provisions hereof;

 

		1.2.	“Base Fees” means the base fees amount set forth on Schedule “B” hereto,
as such may be amended from time to time;

 

     

     

    

 

		1.3.	“Board” means the Board of Directors of the Company;

 

		1.4.	“Business” means being engaged in mineral exploration and development business in Canada
and the United States; and

 

		1.5.	“Payments” means all other payments or reimbursements to be made to the Consultant
other than the Base Fees, as set forth on Schedule “B” hereto, as such may be amended from time to time.

 

		2.	Term of Consulting Service

 

		2.1.	The term of the Consultant's consulting with the Company shall begin on the date hereof and shall
thereafter be month to month until terminated pursuant to Section 9.1 hereof.

 

		3.	Position of Consulting Service

 

		3.1.	Consultant's position and duties to the Company are set forth in Schedule “A” to this
Agreement (the “Services”). It is understood and agreed between the Consultant and the Company that the Services of
the Consultant may be changed at any time by the Company and the Consultant executing a revised Schedule “A”, and attaching
it to the copy of this Agreement, and this will in no way affect any of the other terms and conditions of this Agreement which
will continue in full force and effect.

 

		4.	Consulting Fees

 

		4.1.	Consultant's Base Fee and Payments are as set out in Schedule “B” to this Agreement.
The Company and Consultant agree that the amount and scope of the Base Fees and Payments may be amended from time to time with
the consent and agreement of both the Company and Consultant by executing a revised Schedule “B” and attaching it to
this Agreement, and this will in no way affect any of the other terms and conditions of this Agreement which will continue in full
force and effect.

 

		5.	Indemnification

 

		5.1.	Consultant will indemnify, defend and hold the Company and/or its subsidiaries, affiliates and
their respective directors, officers, employees, agents, successors and assigns harmless from and against any allegation or claim
based on, or any damage, loss, and expense and any other liability (including reasonable legal fees incurred on such claims and
in proving the right to indemnification) (collectively “Claims”) arising from any act or omission by Consultant or
Principal, including without limitation any breach of this Agreement or allegation or Claim of negligence, strict liability or
misconduct. However, the foregoing does not apply to the extent such Claim results solely from the Company’s negligence,
wilful misconduct or express direction to Consultant. The duty to defend is independent of its duty to indemnify. Consultant’s
obligations under this section are independent of all its other obligations under this Agreement. Consultant will use counsel reasonably
satisfactory to Company to defend each Claim, and the Company will cooperate (at Consultant’s expense) with Consultant in
the defence. Consultant will not consent to the entry of any judgment or enter into any settlement without the Company’s
prior written consent, which may not be unreasonably withheld.

 

		5.2.	The Company will indemnify, defend and hold Consultant and Principal harmless from and against
any Claim arising from the performance by Consultant of the Services in good faith acting reasonably. However, the foregoing does
not apply to the extent such Claim results from Consultant’s negligence, wilful misconduct, unlawful conduct or failure to
comply with this Agreement or direction of the Company. The Company’s duty to defend is independent of its duty to indemnify.
The Company’s obligations under this section are independent of all its other obligations under this Agreement. The Company
will use counsel reasonably satisfactory to Consultant to defend each Claim, and Consultant will cooperate (at the Company’s
expense) with the Company in the defence. The Company will not consent to the entry of any judgment or enter into any settlement
without Consultant’s prior written consent, which may not be unreasonably withheld.

 

		5.3.	The foregoing indemnity provisions shall survive the termination of this Agreement and the termination
of the Consultant’s term with the Company.

 

		6.	General Obligations of Consultant to the Company

 

		6.1.	The Consultant shall serve the Company diligently, faithfully and to the best of the Consultant’s
ability and throughout the term of the Consultant's term with the Company.

 

     

     

    

 

		6.2.	The Consultant shall adhere to the policies and procedures adopted by the Company from time to
time, the laws, regulations, policies and industry standards of all applicable governmental and regulatory agencies, stock exchanges
and security commissions. The Consultant shall obey and carry out all lawful orders and directions given to the Consultant by the
Company.

 

 

		6.3.	The Consultant acknowledges and agrees that he will take all necessary steps to protect and maintain
the required level of security and privacy over the personal information of the Consultants, consultants, or customers of the Company
obtained in the course of the Consultant’s term with the Company. The Consultant shall at all times comply, and shall assist
the Company to comply, with all privacy laws as may be applicable to the Company and its operations.

 

		7.	Confidentiality Obligations of the Consultant

 

		7.1.	The Consultant acknowledges and agrees that as a senior manager, the Consultant holds a position
of trust and confidence with the Company, and acts as a fiduciary of the Company. It is a condition of the Consultant’s consulting
with the Company that they maintain, in the strictest of confidence, all confidential and proprietary information respecting the
business and affairs of the Company, its business partners, service providers and customers. Therefore, except as reasonably necessary
to perform the Services, Consultant and Principal agree not to use or divulge, furnish or make accessible to any person any information
relating to the Business of the Company of a confidential or proprietary nature including, without limitation, information about
Company mineral properties or properties the Company or its affiliates are considering acquiring an interest in, such as surveys
and assay results, and financial information of the Company (collectively “Confidential Information”). Upon termination
of this Agreement, Consultant and Principal agree to (a) return to the Company all originals and copies of Confidential Information
which exist in written or other physical form, and all property of any kind that belongs to the Company, that is in Consultant’s
possession or under Consultant’s control, and (b) delete any Confidential Information from any personal electronic devices.

 

		8.	Conflict of Interest

 

		8.1.	The Consultant shall not, without the written consent of the Company, during the term of this Agreement,
either as a principal or agent, partner, or shareholder, or as a director, officer, manager or Consultant of a corporation or otherwise,
carry on, or be engaged or concerned or interested in any business which is in competition to any business conducted by the Company
or any affiliated or subsidiary company of the Company. For greater certainty, any entity which holds or is seeking to acquire
an interest in a mineral property located in whole or in part within 50 kilometres of the perimeter of any mineral property
owned by the Company or in which the Company has an interest or property in which the Company is seeking or considering to acquire
ownership or an interest shall be deemed a competitor of the Company. Notwithstanding the provisions of this Section 9.1, nothing
set out in this Section 9.1 shall prevent the Consultant from being a shareholder only, holding not more than 10% of the outstanding
shares of any company or corporation carrying on such a business and whose shares are listed on a recognized stock exchange in
the United States of America or Canada.

 

		8.2.	The Consultant shall conduct itself at all times so as to avoid an actual or potential conflict
of interest. The Consultant shall immediately disclose to the Board any real or potential conflict of interest. The Board shall
be the sole and absolute arbiter of whether a conflict of interest exists, which decision is final, and the Consultant hereby agrees
to accept the decision of the Board in respect of all conflicts of interest, and to at all times conduct itself in accordance with
the decision of the Board on a conflict. Until such time as the Board has determines whether an actual or potential conflict of
interest exists, the Consultant shall recuse itself from taking any action or step in respect of which the conflict has been raised
so as not to injure the business or reputation of the Company.

 

		9.	Termination

 

		9.1.	Either party may terminate this contract without cause, by providing thirty (30) days advance written
notice to the other party. The Company may terminate this Agreement immediately for good cause without advance written notice.
Good cause shall include, but not be limited to, any material breach of this Agreement or material misconduct or negligence in
the performance of the Services. Upon termination, without good cause, the Consultant will be entitled to payment for all Base
Fees and Payments earned or incurred during the term of this Agreement, but shall not thereafter be entitled to any Base Fees or
Payments.

 

		10.	Non-Solicitation 

 

		10.1.	The Consultant agrees that for a period of twelve (12) months following the termination of this
Agreement for any cause or reason, its expiry or non-renewal, the Consultant shall not, either directly or indirectly, solicit,
divert, entice or take away any of the business partners, customers, service providers or investors of the Company with respect
to any of the business prospects, developments, or assets of the Company.

 

     

     

    

 

		10.2.	The Consultant agrees that for a period of twelve (12) months following the termination, of this
Agreement for any cause or reason, its expiry or non-renewal, the Consultant shall not, either directly or indirectly, on the Consultant’s
own behalf or on behalf of another solicit, divert, entice, hire, retain, employ or take away any employee or contractor of the
Company, whether with or without compensation.

 

		10.3.	The Consultant acknowledges and agrees that in consideration of the obligations of the Company
under this Agreement, the time limitations and restrictions in Sections 10.1 and 10.2 are reasonable and properly required for
the adequate protection of the Business and the Confidential Information of the Company, and having regard to the Services, and
that such limitations will not affect the Consultant’s ability to obtain reasonable consulting opportunities following the
termination of this Agreement for any cause or reason.

 

		10.4.	In the event of any alleged breach of this Section of the Agreement by the Consultant, the Company
shall be entitled, if it so elects, to institute and prosecute proceedings to obtain a interlocutory or permanent injunction (without
posting any bond) in order to prevent activities in violation of this Agreement and to obtain specific performance and/or money
damages for any breach of this Agreement by the Consultant, but nothing herein contained shall be construed to prevent such remedy
or combination of remedies as the Company may elect to invoke. The failure of the Company to promptly institute legal action upon
any breach of this Agreement shall not constitute a waiver of that or any other breach hereof. Consultant recognizes and agrees
that the enforcement of this Agreement is necessary to ensure the preservation and continuity of the Business and goodwill of the
Company and its affiliates.

 

		11.	Independent Contractor Status

 

		11.1.	The relationship with the Company created by this Agreement is that of an independent contractor
for all purposes, including under the Income Tax Act (Canada) and any similar provincial taxing legislation. Nothing contained
in this Agreement shall be regarded or construed as creating any relationship (whether by way of employer/employee, agency, joint
venture, association, or partnership) between Consultant/Principal and the Company other than as an independent consultant. Consultant
and Principal expressly acknowledge having requested engagement as an independent contractor and not an employee of the Company.
Consultant shall be free to determine how the Services are completed and use of time, subject to meeting Company requirements.
Consultant further acknowledges that no statutory deductions will be made from Base Fees because Consultant is an independent contractor
and that Base Fees paid will not qualify for eligibility for employment insurance benefits. Consultant shall be responsible for
deducting and remitting employee amounts and paying employer contributions as applicable all necessary taxes and statutory amounts,
including without limitation, HST/GST, income taxes, employment insurance and Canada pension plan contributions, arising from payments
of fees to Consultant or remuneration to Principal from such fees and will, on request, provide Company with reasonable proof of
same.

 

		11.2.	Consultant will also maintain Workers’ Compensation Board registration in good standing at
all times during the term of this Agreement and provide proof of same on request of the Company.

 

		11.3.	Consultant shall indemnify and hold harmless the Company in respect of any liability that the Company
may subsequently be determined to be under to any government authority or agency arising out of any alleged failure to make source
deductions or employer contributions in respect of the Base Fees paid under this Agreement or in respect of any determination that
Principal is an employee of the Company, including all legal fees incurred by Company to consider, defend against or settle any
such liability.

 

		12.	Liability of Principal

 

		12.1.	In addition to the express obligations of Principal under this Agreement, Principal agrees to ensure
Consultant performs its obligations under this Agreement and to be jointly and severally liable with Consultant for any breach
of this Agreement.

 

		13.	Notices

 

		13.1.	Any notice required or permitted to be given under this Agreement shall be sufficient if in writing
and either delivered personally or sent by facsimile, with delivery confirmed. For greater certainty, the current addresses of
the parties are as follows:

 

     

     

    

 

	 	If to Company:	Corvus Gold Inc.
	 	 	#2300-1177 West Hastings,
	 	 	Vancouver, BC V6E 2K3
	 	 	Facsimile: (604) 408-7499
	 	 	 
	 	If to the Consultant or Principal: 	Blue Pegasus Consulting
Inc.
	 	 	824 Gauthier Avenue,
	 	 	Coquitlam, BC V3K1R9

 

		13.2.	In the event that either party wishes to change its address and contact information for notices
under this Agreement, such party shall notify the other party in writing.

 

		14.	Entire Agreement

 

		14.1.	This Agreement, together with the Schedules hereto, and the policies and procedures of the Company
in force from time to time, contains the entire Agreement between the Company and the Consultant and supersedes and cancels all
previous negotiations, understandings, representations and agreements, whether verbal or written, with respect to the terms and
conditions of consulting between the Company and the Consultant. The parties agree that this Agreement may only be modified in
writing signed by both parties.

 

		15.	Laws

 

		15.1.	This Agreement shall be governed by and interpreted in accordance with the laws of the Province
of British Columbia. The Company and Consultant agree that, subject to Section 16, if there is any dispute between them arising
out of this Agreement, the Company and Consultant agree to submit their dispute to adjudication before the Courts of the Province
of British Columbia in the City of Vancouver and the Company and Consultant hereby exclusively and irrevocably attorn to the jurisdiction
of the Courts of the Province of British Columbia in the City of Vancouver.

 

		16.	Arbitration

 

		16.1.	If any dispute arises between the parties touching or concerning this Agreement, its construction
or effect, or as to the rights, duties and liabilities of the parties hereto, or either of them, or as to any other matter in any
way connected with, or arising out of the subject matter of this Agreement, then the dispute shall be submitted for determination
to a single arbitrator whose appointment is to be mutually agreed upon, and failing such agreement the single arbitrator shall
be appointed by a Justice of the Supreme Court of British Columbia.

 

		16.2.	The arbitrator so chosen shall immediately hear and determine the question in dispute including
all questions of fact or law. The arbitrator’s decision shall be final and binding on the parties as to any question submitted
to the arbitrator, and the parties shall abide by the decision of the arbitrator. Except as otherwise provided in this Agreement,
each party shall bear its own legal and other expenses associated with any arbitration hereunder, and unless otherwise determined
by the arbitrator, all other expenses in connection with such arbitration, including the reasonable compensation to the arbitrator,
shall be divided equally between the parties.

 

		16.3.	The rules of procedure and evidence and other provisions of The Arbitration Act of the Province
of British Columbia, for the time being in force, shall apply to all disputes which may arise between the parties whether during
the continuance of this Agreement or upon or after its termination.

 

		17.	Successors and Assigns

 

		17.1.	This Agreement shall not be assignable by either party unless the written consent of the other
party has been obtained, except that the Company may assign this Agreement to any affiliate (as defined in the B.C. Business Corporations
Act) or successor to substantially all of its undertaking on written notice. This Agreement shall enure to the benefit of and be
binding upon the parties hereto, their heirs, executors, administrators, successors and permitted assigns, as may be the case.

 

		18.	Further Acts and Assurances

 

		18.1.	The Company and the Consultant agree that they shall, from time to time, do all such further acts
and execute and deliver all such further documents and assurances as shall be reasonably required in order to fully perform and
carry of this Agreement.

 

     

     

    

 

		19.	Non-Waiver of Rights

 

		19.1.	The parties understand and agree that no failure by the other party to exercise any of that party’s
rights, powers or privileges pursuant to this Agreement shall operate as a waiver of the said rights, powers or privileges, nor
shall any single or partial exercise of any right, power or privilege under this Agreement preclude such party from further exercising
any right, power or privilege pursuant to this Agreement.

 

		20.	Gender

 

		20.1.	In this Agreement, all references and expressions which relate to the male gender, if applicable,
shall be taken as referring to the female gender.

 

		21.	Recitals

 

		21.1.	The recitals at the beginning of this Agreement shall constitute part of and are terms of this
Agreement.

 

		22.	Binding Effect of Agreement

 

		22.1.	The above described terms and conditions are acceptable to the Consultant, and the Consultant has
indicated its agreement in the designated space of the copy provided. The Consultant, by signing this Agreement represents and
warrants to the Company that:

 

		22.1.1.	The Consultant and Principal are under no contractual or other restriction or obligation, compliance
with which:

 

		(i)	would prevent the Consultant from accepting or otherwise limit the Services to the Company; or

 

 

		(ii)	is inconsistent with the execution of this Agreement, the performance of the Consultant’s
obligations under this Agreement, or the rights of the Company under this Agreement;

 

		22.1.2.	the Consultant will not bring to the Company or use in connection with the Services any confidential
or proprietary information belonging to another person or entity without first delivering a written release regarding the use of
that information from such third-party to the Company; and

 

		22.1.3.	the Consultant and Principal have been afforded a reasonable opportunity to review this Agreement
with their own legal counsel prior to executing this Agreement and have either consulted with their own legal counsel or consciously
decided not to consult with their own legal counsel, and they knowingly and willingly enter into this Agreement with full knowledge
of its meaning and effect.

 

The Consultant and the Principal understand that by executing
this Agreement, they agree to be bound by its terms and conditions and the Consultant and Principal are signing this Agreement
freely and voluntarily having had an opportunity to review, understand and seek legal advice as to the meaning and effect of the
above provisions.

 

		23.	Severability

 

		23.1.	The parties agree that this Agreement is divisible and separable so that, if any provision, paragraph
or subparagraph hereof shall be held to be unreasonable, unlawful or unenforceable, such holding shall not impair the remaining
provision, paragraph or subparagraph hereof. In addition, if any provision, paragraph or subparagraph hereof is held to be too
broad or unreasonable in duration, geographical scope or character of restriction to be enforced, such provision, paragraph or
subparagraph shall be modified to the extent necessary in order that any such provision, paragraph or subparagraph hereof shall
be legally enforceable to the fullest extent permitted by law, and the parties hereby expressly authorize any court of competent
jurisdiction to enforce any such provision, paragraph, subparagraph or portion thereof to the fullest extent permitted by applicable
law.

 

		24.	Reliance by Company

 

		24.1.	The Consultant acknowledges that each of the covenants and representations set forth in this Agreement
has been materially relied upon by the Company and each of the covenants and representations contained herein has served as a material
inducement for the Company to hire the Consultant and enter into this Agreement. A violation or breach of any of the covenants
or representations set forth in this Agreement may result in disciplinary action, including immediate termination of consulting
for just cause and without notice of termination or pay in lieu of notice of termination.

 

     

     

    

 

		25.	Survival

 

		25.1.	Except as otherwise provided in this Agreement, the covenants, obligations and provisions contained
in Sections 5, 7, 10, 12, 15 and 16 and any other provisions having effect after termination by their terms shall survive the termination
of this Agreement for any cause or reason.

 

		26.	Counterparts

 

		26.1.	This Agreement and any document executed pursuant to this Agreement may be executed in multiple
counterparts, each of which shall be an original, but all of which shall constitute one Agreement. A photographic, photostatic,
facsimile or similar reproduction of a writing signed by a person, shall be regarded as signed by the person for all purposes of
this Agreement.

 

 

 

 

 

 

IN WITNESS WHEREOF Blue Pegasus Consulting Inc. and Peggy Wu have
duly executed this Agreement as of the effective date first above written.

 

BLUE PEGASUS CONSULTING INC.,

 

	Per: 	 	 ) 	 
	 	Peggy Wu, President	 ) 	 
	 	 ) 	 
	SIGNED, SEALED and DELIVERED by Peggy Wu in the presence of:	 ) 	 
	 	 ) 	 
	 	 ) 	 
	Name	 ) 	 
	 	 ) 	 
	Address	 ) 	Peggy Wu
	 	 ) 	 
	 	 ) 	 
	 	 ) 	 
	Occupation	 ) 	 
	 	 ) 	 

 

 

     

     

    

 

IN WITNESS WHEREOF the Company has indicated its agreement by the
signature of its duly appointed Officer in that respect as of the effective date first above written.

 

 

	CORVUS GOLD INC.
	 	 
	 	 	 
	Per: 	 	 	 
	 	Signing Officer	 	 
	 	 	 

 

 

 

 

 

 

     

     

    

 

SCHEDULE "A"

 

Position

 

Principal shall serve as Chief Financial Officer to the Company

 

Reporting To

 

CEO and the Board of Directors

 

Services 

 

To provide all services required of the Chief Financial Officer,
including but not limited to:

 

		·	Attend board meetings as requested;

 

		·	Hold quarterly audit committee meetings;

 

		·	Work with auditors during quarterly reviews and year-end audits;

 

		·	Ensure timely preparations of financial statements, MD&A, AIF and other filings as applicable;

 

		·	Oversee internal controls of the Company; and

 

		·	Oversee banking and accounting process of the Company

 

 

 

 

 

     

     

    

 

SCHEDULE "B"

AMENDED

 

 

Effective Date

 

January 1, 2018

 

Consulting Fees

 

The Consultant shall be paid a fee of $7,500.00 per month plus applicable
taxes (currently GST). All fees are to be billed and paid on a monthly basis.

 

Business Expenses

 

The Consultant shall be reimbursed by the Company for all reasonable
actually and properly incurred by the Consultant in connection with the performance of the Services. For all such expenses, the
Consultant shall furnish to the Company statements and vouchers as and when required by the Company.

 

Regulatory Acceptance

 

Both parties agree to seek regulatory acceptance, to the extent
required to do so.

 

Blue Pegasus Consulting Inc. and Peggy Wu have duly executed this
Amendment as of the effective date first above written.

 

 

BLUE PEGASUS CONSULTING INC.

 

	Per: 	 	 	 
	 	Peggy Wu, President	 	 
	 	 	 

 

The Company has indicated its Amendment by the signature of its
duly appointed Officer in that respect as of the effective date first above written.

 

	CORVUS GOLD INC.
	 	 
	 	 	 
	Per: 	 	 	 
	 	Signing OfficerExhibit 10.1

 

 

 

EXECUTIVE EMPLOYMENT AGREEMENT

This EXECUTIVE EMPLOYMENT AGREEMENT ("Agreement") is made and entered into as of the 7th day of January 2018 (the "Effective Date", by and between Digital Green Energy Corp., a Nevada corporation headquartered at 202 6th Street, Suite 401, Castle Rock, CO 80104 ("Company") and Daniel Stefan Robertsen, an individual ("Executive").

W I T N E S S E T H:

WHEREAS, the Executive desires to be employed by the Company as its President and the Company wishes to employ the Executive in such capacity.

NOW, THEREFORE, in consideration of the foregoing and their respective covenants and agreements contained in this document, the Company and the Executive hereby agree as follows:

1.  Employment and Duties.  The Company agrees to employ and the Executive agrees to serve as the Company's President.  The duties and responsibilities of the Executive shall include the duties and responsibilities as the Company's Board of Directors ("Board") and Chief Executive Officer may from time to time assign to the Executive.  The Executive shall have the authority to hire and build a technical team for the Company going forward.

The Executive shall devote such time as Executive, in his sole discretion, determines to be necessary or appropriate to the business and affairs of the Company and its subsidiaries.  Nothing in this Section 1 shall prohibit the Executive from:  (A) serving as a director or member of any other board, committee thereof of any other entity or organization, or as an officer, employee or manager thereof; (B) delivering lectures, fulfilling speaking engagements, and any writing or publication relating to his area of expertise; (C) serving as a director or trustee of any governmental, charitable or educational organization; (D) engaging in additional activities in connection with personal investments and community affairs, including, without limitation, professional or charitable or similar organization committees, boards, memberships or similar associations or affiliations or (E) performing advisory activities.

2.  Term.  The term of this Agreement shall commence on the Effective Date and shall continue for a period of two (2) years following the Effective Date and shall be automatically renewed for successive one (1) year periods thereafter unless either party provides the other party with written notice of his or its intention not to renew this Agreement at least three (3) months prior to the expiration of the initial term or any renewal term of this Agreement.  "Employment Period" shall mean the initial two (2) year term plus renewals, if any.

 

3.  Place of Employment.  The Executive's services shall be performed at such location or locations as Executive shall determine, in his sole discretion.

 

4.  Salary.  The Company agrees to pay the Executive a base salary ("Base Salary") of $200,000 per annum.  Annual adjustments after the first year of the Employment Period shall be determined by the Board. The Base Salary shall be paid in periodic installments in accordance with the Company's regular payroll practices.

 

5.  Bonuses.

(a) Signing Bonus.  Upon execution of this Agreement, Executive shall be entitled to a signing bonus of $25,000

(b) Annual Bonus.  The Executive shall be eligible to receive an annual bonus the ("Annual Bonus") as determined by the Compensation Committee or the Board of Directors of the Company (the "Compensation Committee") in an amount equal up to 50% of the Executive's annualized Base Salary. The Annual Bonus shall be paid by the Company to the Executive promptly after determination that the relevant targets, if any, have been met, it being understood that the attainment of any financial targets associated with any bonus shall not be determined until following the completion of the Company's (and Parent's) annual audit and public announcement of such results and shall be paid promptly following the Company's (or Parent's) announcement of earnings. In the event that the Compensation Committee is unable to act or if there shall be no such Compensation Committee, then all references herein to the Compensation Committee (except in the proviso to this sentence) shall be deemed to be references to the Board. Upon his termination from employment, the Executive shall be entitled to receive a pro-rata portion of the Annual Bonus calculated based upon his final day of employment, regardless of whether he is employed by the Company through the conclusion of the fiscal quarter or year, as the case may be, on which the Annual Bonus is based and may be payable in cash or stock, at the discretion of the Board.

 

1

 

(c) Equity Awards.  The Executive shall be eligible for such grants of awards under a Riot Blockchain, Inc. ("Parent") incentive plan (or any successor or replacement plan adopted by the Parent's Board and approved by the stockholders of Parent) (the "Plan") as the Compensation Committee or Board may from time to time determine (the "Share Awards").  On the Effective Date, the Executive shall be issued the Share Awards set forth on Schedule I attached hereto.  Share Awards shall be subject to the applicable Plan terms and conditions, provided, however, that Share Awards shall be subject to any additional terms and conditions as are provided herein or in any award certificate(s), which shall supersede any conflicting provisions governing Share Awards provided under the Plan.

6. Severance Compensation. Upon termination of employment for any reason, the Executive shall be entitled to:  (A) all Base Salary earned through the date of termination to be paid according to Section 4; (B) any and all reasonable expenses paid or incurred by the Executive in connection with and related to the performance of his duties and responsibilities for the Company during the period ending on the termination date to be paid according to Section 8; (C) any accrued but unused vacation time through the termination date in accordance with Company policy; and (D) any Annual Bonuses earned through the date of termination to be paid according to Section 5(b); and all Share Awards earned and vested prior to termination.

7. Clawback Rights.  The Annual Bonus, and any and all stock based compensation (such as options and equity awards) (collectively, the "Clawback Benefits") shall be subject to "Clawback Rights" as follows:  during the period that the Executive is employed by the Company and  upon the termination of the Executive's employment and for a period of two (2) years thereafter, if there is a restatement of any financial results from which any Clawback Benefits to the Executive shall have been determined, the Executive agrees to repay any amounts which were determined by reference to any Company financial results which were later restated (as defined below), to the extent the Clawback Benefits amounts paid exceed the Clawback Benefits amounts that would have been paid, based on the restatement of the Company's financial information.  All Clawback Benefits amounts resulting from such restated financial results shall be retroactively adjusted by the Compensation Committee to take into account the restated results, and any excess portion of the Clawback Benefits resulting from such restated results shall be immediately surrendered to the Company and if not so surrendered within ninety (90) days of the revised calculation being provided to the Executive by the Compensation Committee following a publicly announced restatement, the Company shall have the right to take any and all action to effectuate such adjustment.  The calculation of the revised Clawback Benefits amount shall be determined by the Compensation Committee in good faith and in accordance with applicable law, rules and regulations.  All determinations by the Compensation Committee with respect to the Clawback Rights shall be final and binding on the Company and the Executive.  The Clawback Rights shall terminate following a Change of Control as defined in Section 12(f), subject to applicable law, rules and regulations.  For purposes of this Section 7, a restatement of financial results that requires a repayment of a portion of the Clawback Benefits amounts shall mean a restatement resulting from material non-compliance of the Company with any financial reporting requirement under the federal securities laws and shall not include a restatement of financial results resulting from subsequent changes in accounting pronouncements or requirements which were not in effect on the date the financial statements were originally prepared ("Restatements").  The parties acknowledge it is their intention that the foregoing Clawback Rights as relates to Restatements conform in all respects to the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("Dodd-Frank Act") and require recovery of all "incentive-based" compensation, pursuant to the provisions of the Dodd-Frank Act and any and all rules and regulations promulgated thereunder from time to time in effect.  Accordingly, the terms and provisions of this Agreement shall be deemed automatically amended from time to time to assure compliance with the Dodd-Frank Act and such rules and regulations as hereafter may be adopted and in effect.

 

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8.  Expenses.  The Executive shall be entitled to prompt reimbursement by the Company for all reasonable ordinary and necessary travel, entertainment, and other expenses incurred by the Executive while employed (in accordance with the policies and procedures established by the Company for its senior executive officers) in the performance of his duties and responsibilities under this Agreement; provided, that the Executive shall properly account for such expenses in accordance with Company policies and procedures.

 

9.  Other Benefits.  During the term of this Agreement, the Executive shall be eligible to participate in incentive, stock purchase, savings, retirement (401(k)), and welfare benefit plans, including, without limitation, health, medical, dental, vision, life (including accidental death and dismemberment) and disability insurance plans (collectively, "Benefit Plans"), in substantially the same manner and at substantially the same levels as the Company make such opportunities available to the Company's managerial or salaried executive employees and/or its senior executive officers.

The Company shall pay one hundred percent (100%) of the cost for any group medical, vision and/or dental coverage elected by and for the Executive and fifty percent (50%) of the additional incremental cost for any group medical, vision and/or dental coverage elected by the Executive for the Executive's family.

The Executive shall be entitled to air travel, including travel by business class, as is reasonable and necessary for the performance of his duties and responsibilities, in accordance with the Company's policies as approved by the Board.

10.  Vacation.  During the term of this Agreement, the Executive shall be entitled to accrue, on a pro rata basis, 20 paid vacation days per year.  Vacation shall be taken at such times as are mutually convenient to the Executive and the Company and no more than fifteen (15) consecutive days shall be taken at any one time without Company approval in advance.

 

11.  Intentionally Omitted.

 

12.  Termination of Employment.

(a) Death.  If the Executive dies during the Employment Period, this Agreement and the Executive's employment with the Company shall automatically terminate and the Company's obligations to the Executive's estate and to the Executive's Qualified Beneficiaries shall be those set forth in Section 6 regarding severance compensation.

(b) Disability.  In the event that, during the term of this Agreement the Executive shall be prevented from performing his essential functions hereunder to the full extent required by the Company by reason of Disability (as defined below), this Agreement and the Executive's employment with the Company shall automatically terminate.  The Company's obligation to the Executive under such circumstances shall be those set forth in Section 6 regarding severance compensation.  For purposes of this Agreement, "Disability" shall mean a physical or mental disability that prevents the performance by the Executive, with or without reasonable accommodation, of his essential functions hereunder for an aggregate of ninety (90) days or longer during any twelve (12) consecutive months.  The determination of the Executive's Disability shall be made by an independent physician who is reasonably acceptable to the Company and the Executive (or his representative), be final and binding on the parties hereto and be made taking into account such competent medical evidence as shall be presented to such independent physician by the Executive and/or the Company or by any physician or group of physicians or other competent medical experts employed by the Executive and/or the Company to advise such independent physician.

(c) Cause.

(1) At any time during the Employment Period, the Company may terminate this Agreement and the Executive's employment hereunder for Cause. For purposes of this Agreement, "Cause" shall mean: (a) the willful and continued failure of the Executive to perform substantially his duties and responsibilities for the Company (other than any such failure resulting from the Executive's death or Disability) after a written demand by the Board for substantial performance is delivered to the Executive by the Company, which specifically identifies the manner in which the Board believes that the Executive has not substantially performed his duties and responsibilities, which willful and continued failure is not cured by the Executive within thirty (30) days following his receipt of such written demand; (b) the conviction of, or plea of guilty or nolo contendere to, a felony, or (c) fraud, dishonesty or gross misconduct which is materially and demonstratively injurious to the Company. Termination under clauses (b) or (c) of this Section 12(c)(1) shall not be subject to cure.

 

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(2) For purposes of this Section 12(c), no act, or failure to act, on the part of the Executive shall be considered "willful" unless done, or omitted to be done, by him in bad faith and without reasonable belief that his action or omission was in, or not opposed to, the best interest of the Company.  Between the time the Executive receives written demand regarding substantial performance, as set forth in subparagraph (1) above, and prior to an actual termination for Cause, the Executive will be entitled to appear (with counsel) before the full Board to present information regarding his views on the Cause event.  After such hearing, termination for Cause must be approved by a majority vote of the full Board (other than the Executive).  After providing the written demand regarding substantial performance, the Board may suspend the Executive with full pay and benefits until a final determination by the full Board has been made.

(3) Upon termination of this Agreement for Cause, the Company shall have no further obligations or liability to the Executive or his heirs, administrators or executors with respect to compensation and benefits thereafter, except for the obligation to pay the Executive any Base Salary earned through the date of termination to be paid according to Section 4; any unpaid Annual Bonus to be paid according to Section 5; reimbursement of any and all reasonable expenses paid or incurred by the Executive in connection with and related to the performance of his duties and responsibilities for the Company during the period ending on the termination date to be paid according to Section 8; and any accrued but unused vacation time through the termination date in accordance with Company policy.  The Company shall deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and FUTA, and other appropriate deductions.

(d) For Good Reason or a Change of Control or Without Cause.

(1) At any time during the term of this Agreement and subject to the conditions set forth in Section 12(d)(2) below the Executive may terminate this Agreement and the Executive's employment with the Company for "Good Reason" or for a "Change of Control" (as defined in Section 12(f)).  For purposes of this Agreement, "Good Reason" shall mean the occurrence of any of the following events without Executive's consent: (A) the assignment to the Executive of duties that are significantly different from, and/or that result in a substantial diminution of, the duties that he assumed on the Effective Date (including reporting to anyone other than solely and directly to the Board); (B) the assignment to the Executive of a title that is different from and subordinate to the title President of the Company, provided, however, for the absence of doubt following a Change of Control, should the Executive be required to serve in a diminished capacity in a division or unit of another entity (including the acquiring entity), such event shall constitute Good Reason regardless of the title of the Executive in such acquiring company, division or unit; or (C) material breach by the Company of this Agreement.

(2) The Executive shall not be entitled to terminate this Agreement for Good Reason unless and until he shall have delivered written notice to the Company within ninety (90) days of the date upon which the facts giving rise to Good Reason occurred of his intention to terminate this Agreement and his employment with the Company for Good Reason, which notice specifies in reasonable detail the circumstances claimed to provide the basis for such termination for Good Reason, and the Company shall not have eliminated the circumstances constituting Good Reason within thirty (30) days of its receipt from the Executive of such written notice.  In the event the Executive elects to terminate this Agreement for Good Reason in accordance with Section 12(d)(1), such election must be made within the twenty-four (24) months following the initial existence of one or more of the conditions constituting Good Reason as provided in Section 12(d)(1).  In the event the Executive elects to terminate this Agreement for a Change in Control in accordance with Section 12(d)(1), such election must be made within one hundred eighty (180) days of the occurrence of the Change of Control.

(3) In the event that the Executive terminates this Agreement and his employment with the Company for Good Reason or for a Change of Control or the Company terminates this Agreement and the Executive's employment with the Company without Cause, the Company shall pay or provide to the Executive (or, following his death, to the Executive's heirs, administrators or executors) the severance compensation set forth in Section 6 above.  The Company shall deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and FUTA, and other appropriate deductions.

 

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 (4)            The Executive shall not be required to mitigate the amount of any payment provided for in this Section 12(d) by seeking other employment or otherwise, nor shall the amount of any payment provided for in this Section 12(d) be reduced by any compensation earned by the Executive as the result of employment by another employer or business or by profits earned by the Executive from any other source at any time before and after the termination date. The Company's obligation to make any payment pursuant to, and otherwise to perform its obligations under, this Agreement shall not be affected by any offset, counterclaim or other right that the Company may have against the Executive for any reason.

I Without "Good Reason" by the Executive.  At any time during the term of this Agreement, the Executive shall be entitled to terminate this Agreement and the Executive's employment with the Company without Good Reason and other than for a Change of Control by providing prior written notice of at least thirty (30) days to the Company.  Upon termination by the Executive of this Agreement or the Executive's employment with the Company without Good Reason and other than for a Change of Control, the Company shall have no further obligations or liability to the Executive or his heirs, administrators or executors with respect to compensation and benefits thereafter, except for the obligation to pay the Executive any Base Salary earned through the date of termination to be paid according to Section 4; any unpaid Annual Bonus to be paid according to Section 5; reimbursement of any and all reasonable expenses paid or incurred by the Executive in connection with and related to the performance of his duties and responsibilities for the Company during the period ending on the termination date to be paid according to Section 8; and any accrued but unused vacation time through the termination date in accordance with Company policy.  The Company shall deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and FUTA, and other appropriate deductions.

(f) Change of Control.  For purposes of this Agreement, "Change of Control" shall mean the occurrence of any one or more of the following: (i) the accumulation (if over time, in any consecutive twelve (12) month period), whether directly, indirectly, beneficially or of record, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended) of more than fifty percent (50%) or more of the shares of the outstanding Common Stock of the Company, whether by merger, consolidation, sale or other transfer of shares of Common Stock (other than a merger or consolidation where the stockholders of the Company prior to the merger or consolidation are the holders of a majority of the voting securities of the entity that survives such merger or consolidation), (ii) a sale of all or substantially all of the assets of the Company or (iii) during any period of twelve (12) consecutive months, the individuals who, at the beginning of such period, constitute the Board, and any new director whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the twelve (12) month period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the Board; provided that the following acquisitions shall not constitute a Change of Control for the purposes of this Agreement: any acquisition of Common Stock or securities convertible into Common Stock by any employee benefit plan (or related trust) sponsored by or maintained by the Company.

(g) Any termination of the Executive's employment by the Company or by the Executive (other than termination by reason of the Executive's death) shall be communicated by written Notice of Termination to the other party of this Agreement. For purposes of this Agreement, a "Notice of Termination" shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated, provided, however, failure to provide timely notification shall not affect the employment status of the Executive.

13. Confidential Information.

(a) Disclosure of Confidential Information. The Executive recognizes, acknowledges and agrees that he has had and will continue to have access to secret and confidential information regarding the Company, its subsidiaries and their respective businesses ("Confidential Information"), including but not limited to, its products, methods, formulas, software code, patents, sources of supply, customer dealings, data, know-how, trade secrets and business plans, provided such information is not in or does not hereafter become part of the public domain, or become known to others through no fault of the Executive.  The Executive acknowledges that such information is of great value to the Company, is the sole property of the Company, and has been and will be acquired by him in confidence.  In consideration of the obligations undertaken by the Company herein, the Executive will not, at any time, during or after his employment hereunder, reveal, divulge or make known to any person, any information acquired by the Executive during the course of his employment, which is treated as confidential by the Company, and not otherwise in the public domain. The provisions of this Section 13 shall survive the termination of the Executive's employment hereunder.

 

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(b)              The Executive affirms that he does not possess and will not rely upon the protected trade secrets or confidential or proprietary information of any prior employer(s) in providing services to the Company or its subsidiaries.

I   In the event that the Executive's employment with the Company terminates for any reason, the Executive shall deliver forthwith to the Company any and all originals and copies, including those in electronic or digital formats, of Confidential Information; provided, however, the Executive shall be entitled to retain (i) papers and other materials of a personal nature, including, but not limited to, photographs, correspondence, personal diaries, calendars and rolodexes, personal files and phone books, (ii) information showing his compensation or relating to reimbursement of expenses, (iii) information that he reasonably believes may be needed for tax purposes and (iv) copies of plans, programs and agreements relating to his employment, or termination thereof, with the Company.

14. Non-Competition.  Executive hereby covenants and agrees that for a period of six months following the termination of the Employment Period, Executive will not, without the prior written consent of the Company, indirectly or directly, on his own behalf or in the service or on behalf of others, whether or not for compensation, manage, operate, control, finance or participate in the ownership, management, operation, control or financing of, or be an officer, director, employee, partner, principal, agent, representative, consultant or otherwise with, or use or permit his name to be used in connection with, any business or enterprise or engage in any business activity, or have any interest in any person, firm, corporation or business, through a subsidiary or parent entity or other entity (whether as a shareholder, agent, joint venturer, security holder, trustee, partner, consultant, creditor lending credit or money for the purpose of establishing or operating any such business, partner or otherwise) with any Competing Business of the Company in the Covered Area. For purposes of this Agreement (i) "Competing Business" means any company engaging in cryptocurrency or data center operations. For purposes of this Non-Competition Agreement (ii) "Covered Area" means all geographical areas of the United States and other Foreign jurisdictions where the Company has offices, manufactures or may contemplate offices or manufacturing of related products and/or sells its products directly or in-directly through distributors and/or other sales agents.

 

15. Section 409A.

The provisions of this Agreement are intended to comply with or are exempt from Section 409A of the Code ("Section 409A") and the related Treasury Regulations and shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.  The Company and the Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions necessary, appropriate or desirable to avoid imposition of any additional tax under Section 409A or income recognition prior to actual payment to the Executive under this Agreement.

It is intended that any expense reimbursement made under this Agreement shall be exempt from Section 409A.  Notwithstanding the foregoing, if any expense reimbursement made under this Agreement shall be determined to be "deferred compensation" subject to Section 409A ("Deferred Compensation"), then (a) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit, (b) the amount of expenses eligible for reimbursement, or in-kind 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 (provided that this clause (b) shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect) and (c) such payments shall be made on or before the last day of the taxable year following the taxable year in which the expense was incurred.

 

 

 

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With respect to the time of payments of any amount under this Agreement that is Deferred Compensation, references in the Agreement to "termination of employment" and substantially similar phrases, including a termination of employment due to the Executive's Disability, shall mean "Separation from Service" from the Company within the meaning of Section 409A (determined after applying the presumptions set forth in Treasury Regulation Section 1.409A-1(h)(1)).  Each installment payable hereunder shall constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b), including Treasury Regulation Section 1.409A-2(b)(2)(iii).  Each payment that is made within the terms of the "short-term deferral" rule set forth in Treasury Regulation Section 1.409A-1(b)(4) is intended to meet the "short-term deferral" rule.  Each other payment is intended to be a payment upon an involuntary termination from service and payable pursuant to Treasury Regulation Section 1.409A-1(b)(9)(iii), et. Seq., to the maximum extent permitted by that regulation, with any amount that is not exempt from Code Section 409A being subject to Code Section 409A.

 

Notwithstanding anything to the contrary in this Agreement, if the Executive is a "specified employee" within the meaning of Section 409A at the time of the Executive's termination, then only that portion of the severance and benefits payable to the Executive pursuant to this Agreement, if any, and any other severance payments or separation benefits which may be considered Deferred Compensation (together, the "Deferred Separation Benefits"), which (when considered together) do not exceed the Section 409A Limit (as defined herein) may be made within the first six (6) months following the Executive's termination of employment in accordance with the payment schedule applicable to each payment or benefit.  Any portion of the Deferred Separation Benefits in excess of the Section 409A Limit otherwise due to the Executive on or within the six (6) month period following the Executive's termination will accrue during such six (6) month period and will become payable in one lump sum cash payment on the date six (6) months and one (1) day following the date of the Executive's termination of employment.  All subsequent Deferred Separation Benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if the Executive dies following termination but prior to the six (6) month anniversary of the Executive's termination date, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of the Executive's death and all other Deferred Separation Benefits will be payable in accordance with the payment schedule applicable to each payment or benefit.

For purposes of this Agreement, "Section 409A Limit" shall mean a sum equal to (x) the amounts payable within the terms of the "short-term deferral" rule under Treasury Regulation Section 1.409A-1(b)(4) plus (y) the amount payable as "separation pay due to involuntary separation from service" under Treasury Regulation Section 1.409A-1(b)(9)(iii) equal to the lesser of two (2) times: (i) the Executive's annualized compensation from the Company based upon his annual rate of pay during the Executive's taxable year preceding his taxable year when his employment terminated, as determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1); and (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the Executive's employment is terminated.     

16. Miscellaneous.

 (a) Neither the Executive nor the Company may assign or delegate any of their rights or duties under this Agreement without the express written consent of the other; provided, however, that the Company shall have the right to delegate its obligation of payment of all sums due to the Executive hereunder, provided that such delegation shall not relieve the Company of any of its obligations hereunder.

(b) During the term of this Agreement, the Company (i) shall indemnify and hold harmless the Executive and his heirs and representatives to the maximum extent provided by the laws of the State of Nevada and by Company's bylaws and (ii) shall cover the Executive under the Company's directors' and officers' liability insurance on the same basis as it covers other senior executive officers and directors of the Company.

I    This Agreement constitutes and embodies the full and complete understanding and agreement of the parties with respect to the Executive's employment by the Company, supersedes all prior understandings and agreements, whether oral or written, between the Executive and the Company, and shall not be amended, modified or changed except by an instrument in writing executed by the party to be charged. The invalidity or partial invalidity of one or more provisions of this Agreement shall not invalidate any other provision of this Agreement. No waiver by either party of any provision or condition to be performed shall be deemed a waiver of similar or dissimilar provisions or conditions at the same time or any prior or subsequent time.

 

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(d) This Agreement shall inure to the benefit of, be binding upon and enforceable against, the parties hereto and their respective successors, heirs, beneficiaries and permitted assigns.

I    The headings contained in this Agreement are for convenience of reference only and shall not affect in any way the meaning or interpretation of this Agreement.

(f) All notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given when personally delivered, sent by registered or certified mail, return receipt requested, postage prepaid, or by reputable national overnight delivery service (e.g., Federal Express) for overnight delivery to the party at the address set forth in the preamble to this Agreement, or to such other address as either party may hereafter give the other party notice of in accordance with the provisions hereof.  Notices shall be deemed given on the sooner of the date actually received or the third business day after deposited in the mail or one business day after deposited with an overnight delivery service for overnight delivery.

(g) This Agreement, the legal relations between the parties and any action, whether contractual or non-contractual, instituted by any party with respect to any matter arising between the parties, including but not limited to matters arising under or in connection with this Agreement, such as the negotiation, execution, interpretation, coverage, scope, performance, breach, termination, validity, or enforceability of this Agreement, shall be governed by and construed in accordance with the internal laws of the State of New York without reference to principles of conflicts of laws.  The parties hereto hereby irrevocably submit to the exclusive jurisdiction of the courts of the State of New York and the Federal Courts of the United States of America located within the Eastern or Southern District of New York with respect to any matter arising between the parties, and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or thereof, that it is not subject thereto or that such action, suit or proceeding may not be brought or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement or any such document may not be enforced in or by such courts, and the parties hereto irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined in such a New York State or Federal court.  The parties hereby consent to and grant any such court jurisdiction over the person of such parties and over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such action or proceeding in any manner as may be permitted by applicable law, shall be valid and sufficient service thereof. With respect to any particular action, suit or proceeding arising between the parties, including but not limited to matters arising under or in connection with this Agreement, venue shall lie solely in any New York County or any Federal Court of the United States of America sitting in the Eastern or Southern District of New York.  The prevailing party in any dispute arising out of this Agreement shall be entitled to his or its reasonable attorney's fees and costs.

(h) This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one of the same instrument. The parties hereto have executed this Agreement as of the date set forth above.

(i) The Executive represents and warrants to the Company, that he has the full  power and authority to enter into this Agreement and to perform his obligations hereunder and that the execution and delivery of this Agreement and the performance of his obligations hereunder will not conflict with any agreement to which the Executive is a party.

(j) The Company represents and warrants to the Executive that it has the full power and authority to enter into this Agreement and to perform its obligations hereunder and that the execution and delivery of this Agreement and the performance of its obligations hereunder will not conflict with any agreement to which the Company is a party.

[Signature page follows immediately]

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IN WITNESS WHEREOF, the Executive and the Company have caused this Executive Employment Agreement to be executed as of the date first above written.

	 	
DIGITAL GREEN ENERGY CORP.

 

 

 

By: 

Name:  _____________________________

 

Title: _____________________________

 

Date Signed:  ________________________

	 	
 

 

  

Executive: DANIEL  STEFAN  ROBERTSEN

 

Date Signed:  _________________________

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SCHEDULE I

	
·

	
Restricted Stock Award of 35,000 shares of common stock which shall vest in 24 equal monthly installments, beginning on the one month anniversary of the Effective Date.

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