SEC Contract Filing

Filing Date: 2024-01-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tgcb_ex101.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT
<TEXT>
<html><head><title>tgcb_ex101.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 10.1</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><u>EMPLOYMENT AGREEMENT</u></strong><strong></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>THIS EMPLOYMENT AGREEMENT</strong> (this &#8220;Agreement&#8221;), dated as of January 2, 2024, is by and between Tego Cyber Inc., a Nevada corporation (the &#8220;Company&#8221;), and Robert Mikkelsen (&#8220;Executive&#8221;).</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>WHEREAS</strong>, on September 15, 2023, the Company hired Executive as Chief Financial Officer and entered into that certain Consulting Agreement for CFO and business advisory services between the Company and Mr. Mikkelsen&#8217;s company, Merremia Consulting LLC dated September 15, 2023 (&#8220;Consulting Agreement&#8221;).</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>WHEREAS</strong>, the Company desires to employ Executive pursuant to the terms and conditions set forth in this Agreement, and Executive is willing and able to render such services and desires to do so on the terms and conditions hereinafter set forth herein.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>WHEREAS</strong>, this Agreement shall supersede and replace all prior agreements and understanding, oral or written , between the Company and the Exectuive, including the Consulting Agreement.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>NOW, THEREFORE</strong>, in consideration of the foregoing and of the mutual covenants and promises contained herein and for good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, each intending to be legally bound hereby, agree as follows:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">1. <u>Employment</u>. This Agreement shall become effective upon the first day of January 1, 2024 (the &#8220;Effective Date&#8221;). On the terms and subject to the conditions set forth herein, the Company hereby agrees to employ Executive under this Agreement, and Executive hereby agrees to such employment under the terms and conditions set forth in this Agreement, for the Employment Term (as defined below). During the Employment Term, Executive shall initially serve as the Interim Chief Executive Officer, Chief Financial Officer and Treasurer of the Company and shall report to the Board of Directors of the Company (the &#8220;Board&#8221;), performing such duties and responsibilities as are customarily attendant to such positions and such other duties and responsibilities as may from time to time be assigned to Executive by the Board consistent with such positions; provided that after the Effective Date the Company may hire and/or promote other individuals who shall serve in the positions Chief Executive Officer, Chief Financial Officer and/or Treasurer of the Company and following such hiring and/or promotion, Executive shall cease to serve as the hired role(s) and Executive shall no longer have the responsibilities of such positions. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">2. <u>Best Efforts; Conflicts</u>. With the exception of 5 hours weekly for the first forty five (45) days of the agreement to allow the Executive to wind down its other business operations, the Executive shall serve the Company and its subsidiaries and affiliates faithfully and to the best of Executive&#8217;s ability and shall devote Executive&#8217;s full business time, energy, experience and talents to the business of the Company and its subsidiaries and affiliates, as applicable. Executive agrees that, during the term of Executive&#8217;s employment, except as otherwise approved in writing by the Board, which approval by the Board may in its reasonable discretion withhold, Executive will not, either directly or indirectly, or for himself or through, on behalf of, or in conjunction with any person, persons or legal entity, operate, engage in, assist, be employed by, or have any interest in any business activity to or for the benefit of any person or entity other than the Company; provided, however, that it shall not be a violation of this Agreement for Executive to manage Executive&#8217;s own personal investments or to engage in or serv