SEC Contract Filing

Filing Date: 2022-04-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex_360010.htm
<DESCRIPTION>EXHIBIT 10.1 EMPLOYMENT AGREEMENT BETWEEN THE COMPANY AND STUART CRUMBAUGH
<TEXT>
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><b>Exhibit 10.1</b></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt; text-align: center;"><b>Employment Agreement between the Company and Stuart Crumbaugh</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>April 18, 2022</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>Via email </i><i><u>(</u></i><i>scrumbaugh@themarygoldcompanies.com</i><i><u>)</u></i></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>To: Stuart Crumbaugh</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Re: Employment Agreement</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Dear Stuart:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Marygold Companies (&#8220;TMC&#8221; or the &#8220;Company&#8221;) is pleased to offer you continued employment under the following terms and conditions in the position of Chief Financial Officer (&#8220;CFO&#8221;) of the Company beginning on April 1, 2022, or another mutually agreeable date, according to the following terms.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">You will be primarily responsible for oversight of the financial activities for the Company and, as directed, the Company&#8217;s subsidiaries. Such responsibilities shall include, but are not limited to, commercial banking relationships; accounts payable/receivable; direct the preparation of current financial reports and summaries; and create forecasts predicting future growth in connection with the Company&#8217;s global operational objectives and initiatives. Your position also requires you to supervise and direct subsidiary financial accounting to meet US GAAP standards and consolidation of subsidiary operating results. You will be responsible for the preparation and reporting of income tax obligations in all jurisdictions where the Company has a presence. The role will require you to work closely with the Company&#8217;s and any subsidiary&#8217;s independent audit firm and the Company&#8217;s Audit Committee in preparation and filing of quarterly and annual reports to the SEC such that the Company and any subsidiary shall always remain in compliance with regulatory guidelines, as applicable. You will be expected to manage the cash flow from operating profits or investments as needed or instructed by the Company&#8217;s Chief Executive Officer (&#8220;CEO&#8221;). As such, cash flow analysis and projections will be a significant responsibility as it relates to advising the CEO and board members <u>on an </u>ongoing basis for capital raise, expenditures and acquisition opportunities of the Company&#8217;s overall financial health, capabilities, and cash positions. Additionally, the CFO is responsible for researching, recommending and managing, employee related benefits including, but not limited to, 401(K) plan, medical/health, disability insurance as well as obtaining required insurance for directors and officers errors, omissions and liability coverage. With the initiation of an equity incentive plan, you will have the responsibility of choosing a plan administrator to track and record the issuance of stock options and their derivative values to be included on the Company&#8217;s financial statements. The CFO will report to the Company&#8217;s CEO, Nicholas Gerber, but your manager may be changed during the course of your employment. You will be based out of our office located 1850 Mt. Diablo Blvd., Suite 640, Walnut Creek, CA and primarily, your remote home office in (<i>intentionally omitted</i>).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Your compensation will be set out in Exhibit A and paid to you in accordance with the Company's standard payroll procedures. You will also be eligible for the standard Company benefits described in Exhibit A, which are subject to change.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text