Document:

gldc_ex107.htm

EXHIBIT 10.7
  
 EMPLOYMENT AGREEMENT 
  
 This EMPLOYMENT AGREEMENT (the “Agreement”) is made this 16th day of November, 2021, by and between Eital Muskal, a resident of Richmond Hill, Ontario, Canada (the “Employee”), and Golden Star Enterprises, Ltd., a Delaware corporation (“Golden Star” or “the Company”), registration number 2350791, with a business address of 2803 Philadelphia Pike, Suite B #565, Claymont, DE 19703, both parties hereafter sometimes referred to together as the “Parties” and individually as a “Party”.
  
 AGREEMENTS
  
 In consideration of the mutual covenants and obligations contained herein, and intending to be legally bound, the Parties, subject to the terms and conditions set forth herein, agree as follows:
  
 1. Employment and Term. Golden Star hereby employs the Employee and Employee hereby accepts the offer of employment with the Company as Vice President of Strategy and Business development of Enigmai Ltd. (“Enigmai), a wholly owned subsidiary of Golden Star (hereafter, the “Position”). The employment under this Agreement will commence on November 16, 2021. The place of employment will be in Greater Toronto area.
  
 2. Duties. During the term of employment, the Employee shall serve the Company faithfully and to the best of her ability and shall devote full business time during ordinary business hours and such additional time as required for the position of VP of Strategy & Business Development for GSPT and provide attention, skills and efforts (except for permitted vacations, reasonable periods of illness or other incapacity) to the performance of the duties required by or appropriate for her Position. The employee shall be responsible for customary duties related to this position. In her capacity as VP of Strategy & Business Development and will report directly to the Company’s CEO. She will also report to the Board of Directors of the Company (the “Board”) from time to time.
  
 3. Compensation. During her period of employment hereunder, The Company will pay the employee a gross annual base salary (see below), paid bi-weekly, less applicable withholdings and deductions, payable in accordance with the Company’s normal payroll practices. The annual salary of $160,000 Canadian Dollars (the “Salary”) shall be paid as described below. The parties shall review the Salary and terms of compensation on an annual basis and may, but are not required to, make upward adjustments from time to time.
  
 (i) The Employee shall be paid cash compensation of $100,000 Canadian Dollars per annum paid bi-weekly; The salary shall be paid by direct bank deposit and in Canadian Dollars.
  
 (ii) The Employee shall be paid the remaining $60,000 Canadian Dollars of annual salary by way of the quarterly issuance of unregistered restricted shares of common stock of Golden Star (the “Shares”), in arrears, and valued at a 15% discount to the market price of the Shares based on the 10 day trading average of the Shares on OTCMarkets at time of payment or such other quotation system as Golden Star may be quoted as of the last day of the quarter for which the shares shall be issued. The Company will apply the exchange rate from Canadian to United States Dollars as of the date of each respective quarterly share issuance which shall be based on $15,000 Canadian Dollars at the United States Dollar equivalent prior to determining the number of issuable compensation shares.
  
  	 
	
	

	 

 
  
 4. Benefits, Bonus and Vacation.
  
 (i) The Employee will be eligible for health coverage from the beginning date of employment. The Employee shall be entitled to participate in the standard package of health benefit plans adopted by Golden Star including, but not limited to, health benefits provided by way of an HSA account funded to the amount of $5,000 annually;
  
 (ii) Employee shall be entitled to participate in any employee stock option plan which Company may adopt from time to time, for senior management, assuming Employee shall have fulfilled the eligibility requirements for participation therein;
  
 (iii) Vacation – The employee shall be entitled to four (4) weeks paid vacation or eight precent (8%) of earnings paid vacation in each calendar year of employment with the Company, pro-rated for partial years. Such vacation must be taken at a time or times acceptable to the Company having regard to the Company’s operations. All vacation entitlement must be taken in the year it is granted. However, the employee shall be entitled to either carry forward any unused vacation days to the next calendar year or redeem the remaining unused vacation as a paid salary at the end of the calendar year and any such unused vacation shall be forfeited. Notwithstanding the foregoing, you will not receive less vacation each year than is required under the Employment Standards Act, 2000 (Ontario);
  
 (iv) The employee will be entitled to receive an annual bonus based on her professional performance as well as the company’s performance. The parties agree to determine the bonus structure no later than 90 days from the day of signing this agreement. Upon agreement, the agreed structure will be considered a part of the compensation section of this agreement.
  
 All salary and benefits payments stated in the compensation section to this agreement, will commence immediately at the beginning date of employment.
  
 5. Reimbursement of Expenses. Subject to compliance with any applicable policies of the Company, as amended from time to time, Employee shall be entitled to receive reimbursement, within ten (10) days of submission to the Company of all reasonable supporting documentation, for all reasonable business expenses incurred by him in connection with the performance of her duties under this Agreement.
  
 6. Confidentiality. Employee recognizes and acknowledges that the Proprietary Information (as hereinafter defined) is a valuable, special and unique asset of the Company and its subsidiaries and affiliates. As a result, both during the Term and thereafter, Employee shall not, without the prior written consent of the Company, for any reason either directly or indirectly divulge to any third-party or use for her own benefit, or for any purpose other than the exclusive benefit of the Company and its subsidiaries and affiliates, any confidential, proprietary, business and technical information or trade secrets of the Company or of any subsidiary or affiliate of the Company (“Proprietary Information”) revealed, obtained or developed in the course of her employment with the Company, unless and to the extent the Proprietary Information becomes generally known to and available for use by the public other than as a result of Employee’s acts or omissions. In the event that the Employee is requested or required (by oral questions, interrogatories, requests for Proprietary Information or documents in a court or administrative proceeding, subpoena, civil investigative demand or other similar process) to disclose any Proprietary Information, the Employee will provide the Company prompt notice of any such request or requirement so that the Company may, at the Company’s expense, seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement. If, in the absence of a protective order or other similar remedy or the receipt of a waiver from the Company, the Employee reasonably determines that disclosure of Proprietary Information is required to comply with such process or applicable law, the Employee may, without liability under this Agreement, disclose to the appropriate authority only that portion of the Proprietary Information which, on advice of counsel, he reasonably believes he is required to disclose.
  
  	 
	2
	

	 

 
  
 7. Property. All rights, title and interest in and to Proprietary Information and intellectual property developed by the Company or its subsidiaries or affiliates prior to, or during, the Term of Employment shall be and remain the sole and exclusive property of the Company. During the term of employment, Employee shall not remove from the Company’s offices or premises any documents, records, notebooks, files, correspondence, reports, memoranda or similar materials of or containing Proprietary Information, or other materials or property of any kind belonging to the Company unless reasonably necessary or appropriate in accordance with the duties and responsibilities required by or appropriate for her Position and, in the event that such materials or property are removed, all of the foregoing shall be returned to their proper files or places of safekeeping as promptly as possible after the removal shall serve its specific purpose. Employee shall not make, retain, remove and/or distribute any copies of any of the foregoing for any reason whatsoever except as may be necessary in the discharge of her assigned duties and shall not divulge to any third person the nature of and/or contents of any of the foregoing or of any other oral or written information to which he may have access or with which for any reason he may become familiar, except as disclosure shall be necessary in the performance of her duties; and immediately following the termination of her employment with the Company, he shall return to the Company, or destroy at the Company’s direction, all originals and copies of the foregoing then in her possession, whether prepared by Employee or by others.
  
 8. Non-Solicit. The Employee shall not, for her own purposes or gain, or for the purposes of any third party, during her employment and the 24 month period immediately following any cessation thereof (without regard to the reason for that cessation or whether that cessation is initiated by the Company or by the Employee) (the “Restricted Period”), do any of the following directly or indirectly without the prior written consent of the Company:
  
 (a) solicit or call on, for competitive purposes, either directly or indirectly, either any (i) client or prospective client with whom the Company or its subsidiaries or affiliates shall have sold or offered to sell its services or products at any time during the two (2) year period immediately preceding the termination of Employee’s employment hereunder; or (ii) any supplier or prospective supplier with whom the Company or its subsidiaries or affiliates shall have purchased, been solicited to or offered to purchase products or services from at any time during the two (2) year period immediately preceding the termination of Employee’s employment hereunder;
  
 (b) influence or attempt to influence any consultant, agent, supplier, potential supplier, or client or potential client of the Company or its subsidiaries or affiliates to terminate or modify any written or oral agreement or course of dealing with the Company or its affiliates; or
  
 (c) directly or indirectly influence or attempt to influence any person to terminate or modify her employment, consulting, agency, distributorship or other arrangement with the Company or its subsidiaries or affiliates., or (ii) employ or retain, or arrange to have any other person or entity employ or retain, any person who has been employed or retained by the Company or its subsidiaries or affiliates as an employee, consultant, agent or distributor of the Company or its subsidiaries or affiliates at any time during the two (2) year period immediately preceding the termination of Employee’s employment hereunder.
  
 9. Termination of Employment. Either Party may terminate this Agreement for any reason, with or without Cause, hereinafter defined, as the case may be, at any time upon forty five (45) days prior written notice to the other party of its decision to terminate (except in the event of a termination for Cause, whereupon Employee’s termination shall be effective immediately upon written notice thereof).
  
 “Cause” shall mean termination for any of the following:
  
 (a) Employee’s conviction of a felony or a crime involving commission of an act of or omission involving dishonesty in the performance of her duties to the Company or its subsidiaries or fraud against the Company or its subsidiaries;
  
 (b) Employee’s substantial and repeated failure to perform the duties of the office held by the Employee as reasonably directed by the Board;
  
 (c) Employee’s gross negligence or willful misconduct with respect to the Company or its subsidiaries;
  
 (d) Employee’s harassment of or discrimination against the Company’s or its subsidiaries ‘ employees, customers or vendors in violation of the Company or its subsidiaries’ policies with respect to such matters; and,
  
 (e) Employee’s misappropriation of funds or assets of the Company or its subsidiaries for personal use or willful violation of Company or its subsidiaries’ policies or standards of business conduct as determined in good faith by the Board.
  
  	 
	3
	

	 

 
  
 If during the Term, Employee’s employment is terminated by the Company with Cause then the Company’s obligation to Employee will be limited solely to the payment of accrued and unpaid Salary though the date of such termination and reimbursement for expenses, in accordance with Section 5, incurred prior to the termination of employment. All compensation and benefits will cease at the time of such termination and the Company will have no further liability or obligation by reason of such termination.
  
 If during the Term, Employee’s employment is terminated by the Company without Cause then the Company shall pay to Employee:
  
 (i) the accrued and unpaid Salary through the date of such termination and reimbursement for expenses, in accordance with Section 5, incurred prior to the termination of employment; and
  
 (ii) a lump sum in cash equal to the total remaining Salary of the full Employment Term due under this agreement; and
  
 (iii) the continued payment of any bonus payments employee would be eligible to receive paid at the time such bonus would be calculated, if such bonus falls within the Employment Term specified in Section 1.
  
 (iv) in addition, the Company shall immediately vest the remaining outstanding, non-vested shares as specified in Section 3(b)
  
 10. Other Agreements. Employee represents and warrants to the Company that:
  
 (a) There are no restrictions, agreements or understandings whatsoever to which Employee is a party which would prevent or make unlawful Employee’s execution of this Agreement or Employee’s employment hereunder, or which is or would be inconsistent or in conflict with this Agreement or Employee’s employment hereunder, or would prevent, limit or impair in any way the performance by Employee of her obligations hereunder;
  
 (b) Employee’s execution of this Agreement and Employee’s employment hereunder shall not constitute a breach of any contract, agreement or understanding, oral or written, to which Employee is a party or by which Employee is bound;
  
 (c) Employee is free to execute this Agreement and to enter into the employ of the Company pursuant to the provisions set forth herein; and
  
 (d) Employee shall disclose the existence and terms of the restrictive covenants set forth in this Agreement to any employer that the Employee may work for during the term of this Agreement (which employment is not hereby authorized) or after the termination of the Employee’s employment at the Company if such restrictive covenants are then in full force and effect.
  
 11. Survival of Provisions. Except as otherwise set forth in this Agreement, the provisions of this Agreement (including, without limitation, Sections 6, 7, 8, 9, 10, 11, 12 and 19) shall survive the cessation of Employee’s employment as set forth herein.
  
 12. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company and Employee and their respective successors, executors, administrators, heirs and/or permitted assigns; provided, however, that neither Employee nor the Company may make any assignments of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of the other parties hereto, except that, without such consent, the Company may assign this Agreement to any successor to all or substantially all of its assets and business by means of liquidation, dissolution, merger, consolidation, transfer of assets, or otherwise, provided that such successor assumes in writing all of the obligations of the Company under this Agreement.
  
  	 
	4
	

	 

 
  
 13. Notice. Any notice or communication required or permitted under this Agreement shall be made in writing and delivered in person, sent by recognized overnight courier or sent by certified or registered mail, return receipt requested, addressed to the last known address of the party or to such other address as either party may from time to time duly specify by notice given to the other party in the manner specified above.
  
 14. Entire Agreement; Amendments. This Agreement contains the entire agreement and understanding of the parties hereto relating to the subject matter hereof, and merges and supersedes all prior and contemporaneous discussions, agreements and understandings of every nature between the parties hereto relating to the employment of Employee with the Company. This Agreement may not be changed or modified, except by an agreement in writing signed by each of the parties hereto.
  
 15. Waiver. The waiver of the breach of any term or provision of this Agreement shall not operate as or be construed to be a waiver of any other or subsequent breach of this Agreement.
  
 16. Governing Law.
  
 (a) This Agreement shall be construed and enforced in accordance with the substantive laws of the Province of Ontario without reference to its conflicts of law principles.
  
 (b) Notwithstanding the substantive laws to be applied and the residence of the Parties, in the event of any dispute hereunder, the jurisdiction for resolution of such dispute shall be the Province of Ontario.
  
 17. Invalidity. In case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the validity of any other provision of this Agreement, and such provision(s) shall be deemed modified to the extent necessary to make it enforceable.
  
 18. Section Headings. The section headings in this Agreement are for convenience only; they form no part of this Agreement and shall not affect its interpretation.
  
 19. Specific Enforcement; Extension of Period.
  
 (a) Employee acknowledges that the restrictions contained in Sections 6, 7, and 8 hereof are reasonable and necessary to protect the legitimate interests of the Company and its subsidiaries and affiliates, that the duration of the restrictions are reasonable given the nature of this Agreement and the position Employee holds within the Company, and that the Company would not enter into this Agreement unless Employee agrees to be bound by the restrictions set forth in Sections 6, 7 and 8 hereof.
  
 (b) Employee acknowledges that any breach by of Sections 6, 7, and 8 hereof will cause continuing and irreparable injury to the Company for which monetary damages would not be an adequate remedy. Employee shall not, in any action or proceeding to enforce any of the provisions of this Agreement, assert the claim or defense that an adequate remedy at law exists. In the event of any such breach by Employee, the Company shall have the right to enforce the provisions of Sections 6, 7, and 8 of this Agreement by seeking injunctive or other similar equitable relief in any court, and this Agreement shall not in any way limit remedies of law or in equity otherwise available to the Company. If an action at law or equity is necessary by the Company to enforce or interpret the terms of this Agreement, the Company shall be entitled to recover, in addition to any other relief, reasonable attorneys’ fees, costs and disbursements. In the event that the provisions of Sections 6, 7 or 8 hereof should ever be adjudicated to exceed the time, geographic, or other limitations permitted by applicable law in any applicable jurisdiction, then such provisions shall be deemed reformed in such jurisdiction to the maximum time, geographic, or other limitations permitted by applicable law.
  
 (c) In the event that Employee shall be in breach of any of the restrictions contained in Section 8 hereof, then the Restricted Period shall be extended for a period of time equal to the period of time that Employee is in breach of such restriction.
  
 20. Withholding. All payments made by the Company to the Employee, or to her estate, shall be subject to the withholding of such amounts including, without limitation, any payroll taxes and any other assessments, as the Company determines should be withheld or paid pursuant to any applicable law or regulation.
  
 21. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same instrument.
  
 *****SIGNATURE PAGE TO FOLLOW***** 
  
  	 
	5
	

	 

 
  
 IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY BOUND, the parties have caused this Agreement to be executed on the day and year first written above by and between:
  
 Golden Star Enterprises Ltd. 
  
  
  	  
	 /s/ Eliav Kling
	  
	  
	 /s/ Eital Muskal
	  

	 By: 
	 Eliav Kling 
	  
	 By: 
	 Eital Muskal 
	  

	 Its: 
	 Chief Executive Officer 
	  
	  
	 Employee 
	  

 
  
  	 
	6gldc_ex108.htm

EXHIBIT 10.8
  
 GOLDEN STAR ENTERPRISES LTD. EXECUTIVE COMPENSATION AGREEMENT 
  
 This Agreement is dated effective as of December 1, 2021
  
 Between:
  
 LOUIS SHEFSKY an individual residing at 7420 Bathurst St., Suite 1104, Thornhill Ontario L4J6X4 (the “EXECUTIVE”) 
  
 And:
  
 GOLDEN STAR ENTERPRISES LTD., a Delaware corporation having a business office at 2803 Philadelphia Pike, Suite B #565, Claymont, DE 19703 (the “Company”)
  
 Whereas: 
  
 A. The Company desires to retain the services of EXECUTIVE with respect to the day to day operations of the Company and its wholly owned subsidiary, Enigmai;
  
 B. The EXECUTIVE has certain business management expertise and financial markets expertise and has agreed to provide day to day management and oversight of the Company’s operations.
  
 Now therefore this Agreement is entered into pursuant to the mutual covenants and agreements set forth below:
  
 Section 1. Interpretation 
  
 1.1 Where used herein the following terms shall have the meanings set out below:
  
 (a) “Executive Services” means the services to be provided by the EXECUTIVE as set out herein;
  
 (b) “Board” means the board of directors of the Company;
  
 (c) “Business Material” means any financial, market and technical information, methods and plans, trade secrets, know-how, technical expertise and other information relating to the Company’s business and operations;
  
 (d) “Term” has the meaning given to it in subsection 2.1.
  
 1.2 Governing Law.
  
 This Agreement shall be governed by and be construed in accordance with the laws of Delaware.
  
 1.3 Severability.
  
 If any one or more of the provisions contained in this Agreement should be determined to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.
  
  	 
	
	

	 

 
  
 Section 2. Term 
  
 2.1 Term.
  
 The term of this Agreement (the “Term”) shall be from and including December 1, 2021, to and including November 30, 2022, unless this Agreement is earlier terminated in accordance with Section 5.
  
 Section 3. Consulting Services 
  
 3.1 Consulting Services.
  
 The Company hereby appoints and retains the EXECUTIVE, on a non-exclusive basis, during the Term to act as President of the Company and to provide such management services as requested by the Company from time to time relative to the operation of the Company including oversight of the Company’s required compliance filings, management and director of staff and consultants, as maybe required, and other day to day operations. The EXECUTIVE hereby accepts such appointment and agrees to provide diligently the Executive Services. In providing the Executive Services, the EXECUTIVE will report directly to and take direction from the Board. The EXECUTIVE shall attend as may be required by the Board, such meetings of the Board, either telephonically or in person, and provide reports on the Executive Services which shall include:
  
 (a) be contracted by the Company as President;
  
 (b) perform such duties and services as are commensurate with Executive’s position or as otherwise reasonably directed by the Board of Directors of the Company (the “Board”), which include but are not limited to;
  
  	  
	 ·
	Design and implement business strategies, plans and procedures;
	  
	 ·
	Set comprehensive goals for performance and growth;
	  
	 ·
	Establish policies that promote company culture and vision;
	  
	 ·
	Oversee daily operations of the company and the work of employees and consultants (IT, Marketing, Sales, and Finance etc.);
	  
	 ·
	Lead employees to encourage maximum performance and dedication;
	  
	 ·
	Evaluate performance by analyzing and interpreting data and metrics;
	  
	 ·
	Work with Company in fundraising ventures;
	  
	 ·
	Participate in expansion activities (investments, acquisitions, corporate alliances etc.);
	  
	 ·
	Manage relationships with partners/vendors;
	  
	 ·
	Executive will serve on the Board of Directors of the Company and will retain said Board Seat at all times that they serve as an Executive of the Company

 
  
 (c) Perform all duties incident to Executive’s position to the best of Executive’s ability and in compliance with the policies and procedures of the Company;
  
 (d) Report directly to the Board
  
 3.2 Board to Act Independently.
  
 The Board shall diligently and responsibly receive all advice from the EXECUTIVE and exercise its own independent judgment before acting upon such advice.
  
  	 
	2
	

	 

 
  
 3.3 Remuneration.
  
 (a) In consideration of the provision of the EXECUTIVE Services, the Company shall pay to the EXECUTIVE a flat fee of one million fifty-four thousand three hundred thirty-nine (1,054,339) unregistered, restricted Shares of its Common Stock.
  
 (b) The Company shall further pay to the EXECUTIVE any out-of-pocket expenses which shall be prior approved by the Company for the attendance at any meetings as may be required.
  
 3.4 Other Contractual Agreements 
  
 The parties to this Agreement recognize that they may enter into other contractual agreements for services to be provided to the Company for which independent contracts shall be executed and that this Agreement relates solely to the appointment of the EXECUTIVE and the mandate of the EXECUTIVE as noted by the Company and the Board.
  
 3.5 Disclosure of EXECUTIVE. During the Term, the EXECUTIVE shall:
  
 (a) disclose to the Company all of its interests in any transaction or agreement contemplated by the Company or any matter which may taint the EXECUTIVE’s objectivity when performing its role as an EXECUTIVE hereunder;
  
 (b) inform the Company of any business opportunities made available to the EXECUTIVE as a result of the EXECUTIVE’s involvement with the Company or otherwise through the performance of the EXECUTIVE Services; and
  
 (c) not serve as EXECUTIVE, or consent to an appointment as a member of the board of directors, of a company which competes, directly or indirectly, with the Company.
  
 Section 4. Confidential Information 
  
 4.1 Confidentiality Obligation.
  
 The EXECUTIVE recognizes and agrees that any Business Material, Corporate Knowhow or Technical Data (the “Business Material”) furnished or to be furnished to it by the Company is to be used only for the purpose of providing the EXECUTIVE Services hereunder and that such materials and information will be kept confidential by the EXECUTIVE provided, however, that any such Business Material may be disclosed:
  
 (a) if specifically consented to in writing by the Company; or
  
 (b) if required by applicable law or by an order of a court of competent jurisdiction.
  
 4.2 Exceptions.
  
 The provisions of Section 4.1 shall not apply to:
  
 (a) information which becomes generally available to the public other than as a result of a disclosure by the EXECUTIVE;
  
 (b) information which is generally known to knowledgeable businesspeople involved in the business conducted by the Company other than as a result of a disclosure by the EXECUTIVE in violation of this part;
  
 (c) information that was available to the EXECUTIVE on a non-confidential basis prior to its disclosure to the EXECUTIVE by the Company; or
  
  	 
	3
	

	 

 
  
 (d) information that becomes available to the EXECUTIVE on a non-confidential basis from a person or entity other than the Company, unless such disclosure by that person is itself in breach of a confidentiality commitment made directly or indirectly to the Company;
  
 and provided that nothing in this Agreement shall prevent the EXECUTIVE from using its expertise and knowledge in the conduct of other business for its own account or as a Consultant to others, except as set forth in paragraph 3.5(c) above.
  
 5. Termination 
  
 5.1 Termination by the Company and the EXECUTIVE.
  
 The Company or the EXECUTIVE may terminate this Agreement without cause at any time by giving thirty (30) days written notice of termination of this Agreement to the other party. Any termination of this Agreement, either pursuant to this Section or otherwise, will not affect the obligations under Section 4, which will survive such termination. In the event that this Agreement is terminated by the Company, the Company shall pay the EXECUTIVE an amount equal to any expenses incurred by the EXECUTIVE up to the effective date of the termination to the extent such expenses have not previously been reimbursed. Upon payment of such amounts, the EXECUTIVE shall have no claim against the Company for damages or otherwise by reason of such termination. In the event of termination of this Agreement, the EXECUTIVE shall, prior to the effective date of the termination, deliver to the Company all books, records, or other information in its possession pertaining to the Company’s business.
  
 6. Indemnity and Limitation of Liability 
  
 6.1 Indemnification by the Company.
  
 The Company shall indemnify and hold harmless the EXECUTIVE against any and all losses, damages, suits, judgments, costs and expenses arising under any such third-party claim or action that occurs solely due to actions taken by the Company, or by EXECUTIVE at the Company’s direction, provided however, that the EXECUTIVE provides the Company with:
  
 (a) written notice of such claim or action within 14 days of acquiring knowledge of the event;
  
 (b) sole control and authority of the defense or settlement of such claim or action (provided that the Company shall not enter into any settlement which materially affects the EXECUTIVE’s rights without the EXECUTIVE’s prior written consent); and
  
 (c) proper and full information and reasonable assistance to defend and/or settle any such claim or action.
  
 The Company shall not indemnify EXECUTIVE for any losses, damages, suits, judgments, costs or expenses arising from actions taken solely by EXECUTIVE.
  
 6.2 No Liability for Acts of the Company.
  
 The EXECUTIVE shall not be liable for any act of the Company or any of its other directors, officers or employees, except as required under applicable Delaware law.
  
 6.3 Limitation of Liability.
  
 Under no circumstances will either party be liable to the other party for indirect, incidental, consequential, special or exemplary or punitive damages (even if such party has been advised of the possibility of such damages), arising from any provision of this Agreement, such as, but not limited to, loss of revenue or anticipated profits or loss of business.
  
  	 
	4
	

	 

 
  
 7. General Provisions 
  
 7.1 No Partnership or Agency.
  
 The relationship between the Company and the EXECUTIVE is that of independent contractor and nothing herein contained shall be interpreted so as to create a partnership or agency relationship between the parties.
  
 7.2 Assignment.
  
 Neither party may assign any rights or delegate any obligations hereunder without the prior written consent of the other party.
  
 As evidence of their agreement this Agreement has been executed by the parties hereto as of the date first above written.
  
 GOLDEN STAR ENTERPRISES, LTD. 
   
  	 /s/ Eliav Kling
	  

	 Eliav Kling, CEO
	  

	  
	  

	 /s/ Louis Shefsky
	  

	 Louis Shefsky, EXECUTIVE 
	  

 
  
  	 
	5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]