RestorGenex and Jerold Rubinstein Board of Director Compensation Agreement
This agreement between RestorGenex Corporation and Jerold Rubinstein outlines the compensation Mr. Rubinstein will receive for his service as a board member and employee, excluding amounts owed for director service since January 1, 2014. He will receive $100,000 in cash upon the closing of $7.5 million in funding, an additional $150,000 within four months of that closing, and 1,250 shares of common stock. The agreement is confirmed by signatures from both parties.
Exhibit 10.7
April 23, 2014
Dear Mr. Rubinstein,
This letter serves as a formal agreement between RestorGenex (formerly Stratus Media Group) and yourself regarding board of director’s fees earned by you during your service as a director. This will confirm that you have agreed to accept the following sums as all amounts due and owing to you for all service as a board member and employee excluding stock and cash owed to you as director only since January 1, 2014:
· Cash: $100,000 (to be paid upon the closing of $7.5MM in funding); and
· $150,000 (to be paid within 4 months of closing $7.5MM in funding)
· Common stock: 1,250 shares
Please sign below. Please let me know if you have any questions. Thank you.
Sincerely,
| /s/ Tim Boris |
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| Tim Boris |
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| General Counsel |
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| RestorGenex Corporation |
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| /s/ Jerold Rubinstein |
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| Jerold Rubinstein |
