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Consulting Agreement, dated as of April 22, 2022, by and between Regnum Corp. and Robert J. Stubblefield

Contract Categories: Human Resources - Consulting Agreements
EX-10.1 2 rgmp_ex101.htm CONSULTING AGREEMENT rgmp_ex101.htm

Execution Version




This Consulting Agreement (“Agreement”) is made by and between Robert J. Stubblefield (“Consultant”) and Regnum Corp. (“Regnum,” together with its affiliates, subsidiaries, and successors, the “Company”). The Company and Consultant are collectively referred to herein as “Parties,” in singular or plural usages, as required by context.




The Company wishes to retain Consultant to perform the duties of Chief Financial Officer (“CFO”) for the Company on a part time, consulting basis subject to the terms of this Agreement, and Consultant wishes to be retained on that basis.


NOW THEREFORE, in consideration of the mutual promises set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties expressly agree to the terms and conditions contained in this Agreement.




1. Term. This Agreement shall commence on April 22, 2022 (the “Start Date”) and Consultant shall provide the services detailed below for a period of four months from the Start Date (the “Expiration Date”; the period from the Start Date to the Expiration Date, the “Initial Term”). The Parties may agree to extend the Initial Term up to two times for additional four month periods not to exceed twelve (12) months total (the “Extended Term;” together with the Initial Term, the “Term”), or terminate the Agreement sooner as provided below.


2. Services To Be Provided. In his capacity as CFO, Consultant will be responsible for the accounting and finance function of the Company, including any filings to be filed with the SEC and other governmental/non-governmental agencies (the “Services”). Consultant agrees to devote his best efforts to promote the Company’s interests, and to give the Company the benefit of his experience, knowledge and skills through the proper and faithful performance of all duties customarily discharged by a CFO for a company doing the type of business engaged in by the Company and any additional duties assigned to him from time to time by the Chief Executive Officer and/or the Board of the Company. Consultant shall comply with all applicable laws, statutes and regulations in performing the Services, and agrees to use his best efforts and comply with all fiduciary and professional standards in the performance of his duties hereunder. Consultant will devote such time, attention and skill to his duties under this Agreement as he deems necessary; Consultant shall control the manner and means in which he performs the Services. Consultant represents and warrants to the Company that, at all times prior to the Start Date when he has served as the Company’s Treasurer and/or CFO, and at all times during the Term, he either acted or will act, as applicable, in the best interests of the Company’s shareholders.


Nothing herein shall be deemed to preclude the Company from retaining the Services of other persons or entities undertaking the same or similar services as the Services or from independently developing or acquiring materials or programs that are similar to, or competitive with, the Services.


3. Compensation.


a. In consideration of the performance of the Services and of the acceptance by Consultant of the restrictive covenants set out in this Agreement, the Company will pay Consultant a flat fee of $3,750.00 on a monthly basis.




b. Consultant shall invoice the Company for the Services on a monthly basis. The Company shall discharge any valid invoice within 14 days of receipt of the valid invoice.


4. Preservation of Company Confidential Information. Consultant agrees at all times:


a. To hold confidential and not disclose to any third party any Confidential Information (as defined below), except such information which is now or hereafter becomes publicly available other than through breach of this Agreement; and


b. Not to put to commercial use or use in any way other than in connection with the Services any Confidential Information disclosed to Consultant or any Confidential Information developed by Consultant pursuant to this Agreement.


c. As used herein, “Confidential Information” includes any non-public information Consultant receives directly or indirectly from the Company or acquired or developed in the course of his consultancy and any other non-public information received or developed by, or disclosed to, Consultant during the course of or arising out of his previous employment with the Company, including by way of example only, trade secrets (including organizational charts, employee information such as credentials, skill sets and background information), financial records and data, ideas, inventions, methods, designs, formulas, systems, improvements, prices, discounts, business affairs, products, product specifications, manufacturing processes, data and know-how and technical information of any kind whatsoever, unless such information has been publicly disclosed by authorized officials of the Company. The term Confidential Information also includes Consultant’s notes, reports, summaries, analyses, compilations, forecasts, studies, interpretations, memoranda and other materials and/or work product based on Confidential Information. In the event information which is non-public becomes public due to disclosure by Consultant which is not authorized by the Company, such information shall be deemed non-public for purposes of this Agreement.


5. Intellectual Property; Work Product. Consultant agrees that all intellectual property, including but not limited to all deliverables, writings, documents, data, video recordings, audio recordings, electronic recordings, and other materials that Consultant makes (or participates in making), conceives, discovers or develops at any time as a result of or in connection with Consultant’s performance of the Services or incorporating any Confidential Information received by Consultant pursuant to this Agreement, in any and all media or forms of expression, together with any associated improvements, technology, designs, ideas, processes, techniques, know-how and data, whether or not patentable, patents, copyrights, trademarks and trade secrets (collectively, the “Work Product”) shall be the sole and exclusive property of the Company. If by operation of law or any other reason any of the Work Product, including all related intellectual property rights, is not deemed to be a work for hire or is not otherwise owned in its entirety by the Company automatically upon creation thereof, then Consultant hereby assigns to the Company, without additional consideration, all right, title, and interest in and to such Work Product, including all related intellectual property rights. To the extent, if any, that this Section 5 does not provide the Company with full ownership, right, title, and interest throughout the world in and to the Work Product, Consultant irrevocably agrees to grant, and does hereby grant, the Company an exclusive, perpetual, irrevocable, transferable, unlimited, fully paid-up, royalty-free, worldwide license to make, have made, use, reproduce, market, modify, make derivative works from, publicly perform, publicly display, offer to sell, sell or otherwise exploit such Work Product, with the right to sublicense each and every such right. To the extent Consultant’s moral rights, if any, in the Work Product cannot be assigned, Consultant hereby waives, to the fullest extent permitted by law in any jurisdiction where moral rights exist, any and all moral rights that Consultant may have in any Work Product and consents to any action of the Company that would violate such moral rights in the absence of such consent. Consultant also hereby waives any and all rights that Consultant may have in certain resale proceeds of certain of any Work Product that may be deemed to be literary works.




6. Independent Contractor. Consultant shall perform his duties as an independent contractor and not as an employee. Nothing herein shall create nor be deemed to create an employment relationship between Consultant and the Company.


7. No Benefits. The Parties agree that by virtue of the provision of the Services under this Agreement, Consultant shall not be entitled to any Company benefits pursuant to this Agreement, including but not limited to life insurance, death benefits, accident and health insurance, qualified pension or retirement plan or other benefits.


8. Liability for Taxes. Consultant shall not be considered an employee of the Company for purposes of any Federal, state or local laws regarding employment-related taxes including, but not limited to, reporting, paying, withholding or remitting any income tax, FICA, FUTA, unemployment insurance, social security, workers’ compensation, disability insurance or any laws or regulations which may impute any obligation or liability to the Company by reason of an employment relationship. Consultant acknowledges and agrees that he shall pay all taxes, fees and levies or other charges of any type imposed by any Federal, state or local governmental authority on any fees that Consultant receives under this Agreement.


9. Termination.


a. Following the Initial Term, this Agreement shall be terminable by either party, with or without breach, and for any reason and without prior notice. During the Initial Term, the Company may discontinue the Services with thirty (30) days prior written notice to Consultant, upon receipt of which Consultant shall no longer hold the title or perform the role of CFO. Notwithstanding the above, the Company shall compensate Consultant for the entirety of the Initial Term pursuant to Section 3.a.


b. In the event either party terminates this Agreement, the Company’s sole liability to Consultant shall be to pay Consultant for any unpaid amounts earned and accrued hereunder through the date of termination.


c. In the event that the parties wish to extend this Agreement beyond the Expiration Date, the parties will mutually agree in writing to the extension no later than 10 days prior to the Expiration Date. If the parties do not mutually agree to extend this Agreement as of 10 days prior to the Expiration Date, this Agreement will terminate on the Expiration Date.


10. Consultant’s Representations/Warranties and Covenants. Consultant represents, warrants and covenants to the Company the following:


a. Consultant has the full power and authority to enter into this Agreement without the consent or approval of any other person; and




b. Consultant’s execution, delivery and performance of this Agreement will not violate or cause a breach of any existing employment, consultant or any other agreement, covenant, promise or any other duties by which Consultant is bound, including confidentiality obligations or covenants not to compete including any present or previous employer except Regnum Corp.


11. Assignment. The rights and obligations of the Company under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Company. The rights and obligations of Consultant are non-assignable.


12. Limitation of Liability.


a. Neither party is assuming any liability for the actions or omissions of the other party except as stated in this Agreement.


b. Neither party shall be liable for consequential, special, incidental or indirect losses including, without limitation, (i) loss of profits, revenue or goodwill; (ii) loss of business or (iii) loss of anticipated savings.


13. Non-Disparagement. Consultant agrees, during the term of this Agreement and thereafter, not to engage in any form of conduct or make any statements or representations that disparage, portray in a negative light, or otherwise impair the reputation, goodwill or commercial interests of the Company, or its past, present and future subsidiaries, divisions, affiliates, successors, officers, directors, attorneys, agents and employees.


14. Enforcement of Agreement; Injunctive Relief. Consultant acknowledges that violation of this Agreement will cause immediate and irreparable damage to the Company, entitling it to injunctive relief. Consultant specifically consents to the issuance of temporary, preliminary, and permanent injunctive relief to enforce the terms of this Agreement. In addition to injunctive relief, the Company is entitled to all money damages available under the law.


15. Controlling Law and Venue. Consultant agrees that the constructions, interpretation and performance of this Agreement shall be governed by the laws of State of New York (without giving effect to the principles of conflict of laws that would result in the application of the laws of another jurisdiction). EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OF PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. Arbitration under this Agreement is governed by the Federal Arbitration Act (9 U.S.C. §§ 1 et seq.) (“FAA”). Consultant and Company agree that any dispute or controversy, regardless of its date of accrual, covered by this Agreement or arising out of, relating to, or concerning the interpretation, construction, performance, validity, enforceability or breach of this Agreement, including any claim or dispute related to the Services, shall be settled solely and exclusively by binding individual arbitration in New York, New York administered by JAMS. Such arbitration shall be conducted in accordance with the then prevailing JAMS Employment Arbitration Rules & Procedures, with the following exceptions to such Rules and Procedure if there is a conflict: (i) one arbitrator shall be randomly chosen by JAMS; and (ii) arbitration may proceed in the absence of any party if written notice (under the JAMS’ rules and regulations) of the proceedings has been given to such party. Any issue or dispute concerning arbitrability of a particular issue or claim pursuant to this Agreement must be resolved by the arbitrator, not a court. Any issues or disputes concerning the validity or enforceability of the arbitration provisions of this Agreement and/or any of the waivers included therein must be decided by a court, and not by the arbitrator. The parties hereto agree to abide by all decisions and awards rendered in such proceedings. Such decisions and awards rendered by the arbitrator shall be final and conclusive. All such controversies, claims or disputes shall be settled in this manner in lieu of any action at law or equity; provided, however, that nothing in this subsection shall be construed as precluding the bringing an action to seek injunctive relief. Nothing in this Section shall be read or construed to create any employment relationship between the parties hereto. The parties hereto agree to arbitrate all claims covered by this Agreement on an individual basis only. To the maximum extent permitted by law, no claims may be brought or maintained on a class or collective basis in arbitration, notwithstanding the rules of the arbitral body. To the maximum extent permitted by law, the parties hereto expressly waive any right with respect to any covered claims to submit, initiate, or participate as a plaintiff, claimant or member in a class action or collective action, regardless of whether the action is filed in arbitration or in court. The arbitrator shall have no power or authority to adjudicate any claim on class or collective basis and shall have no power or authority to award relief, restitution, damages, or any other remedy on a class or collective basis. Any issue concerning the validity of this class action, collective or representative action waiver, and whether an action may proceed as a class, collective or representative action must be decided by a court and an arbitrator shall not have authority to consider the issue of the validity of this waiver or whether the action may proceed as a class or collective action. If for any reason this waiver is found to be unenforceable, the arbitrator will have no power or authority to hear a class or collective action. No arbitration award or decision will have any preclusive effect as to issues or claims in any dispute with anyone who is not a named party to the arbitration. IF FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES NOT APPLICABLE OR IF THE PARTIES ARE SEEKING INJUNCTIVE OR EQUITABLE RELIEF AS PROVIDED FOR ABOVE, THEN EACH PARTY, SUBMITS TO THE EXCLUSIVE AND SOLE JURISDICTION AND VENUE OF THE FEDERAL OR STATE COURTS LOCATED IN NEW YORK COUNTY, NEW YORK AND EACH PARTY HERETO AGREES NOT TO INSTITUTE ANY SUCH ACTION OR PROCEEDING IN ANY OTHER COURT IN ANY OTHER JURISDICTION. EACH PARTY EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY AND ALL OBJECTIONS THAT IT MAY NOW OR HEREAFTER HAVE TO PERSONAL JURISDICTION AND/OR VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT IN THE COURTS IDENTIFIED IN THIS SECTION.




16. Entire Agreement; Amendment. Consultant agrees that this Agreement constitutes the entire agreement between him and the Company with respect to the matters contemplated by this Agreement, and that this Agreement supersedes any and all prior and/or contemporaneous written and/or oral agreements relating to such matters. Consultant acknowledges that this Agreement may not be modified except by written document, signed by him and a duly authorized officer of the Company.


17. Counterparts. This Agreement may be executed and delivered in two or more counterparts by facsimile, electronic mail (including .pdf) or any electronic signature complying with the U.S. federal ESIGN Act of 2000 or the New York Electronic Signature and Records Act or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes to the fullest extent permitted by applicable law. For the avoidance of doubt, the foregoing also applies to any amendment, extension or renewal of this Agreement.


18. Notices. Any notices required to be sent by a party under this Agreement shall be given in writing, at the address for each party set forth below.


19. Prior Consulting Agreement. Through their execution hereof, the Parties acknowledge, agree, ratify and affirm that on April 7, 2021 Regnum and Consultant entered into a consulting agreement (the “Original CA”), which Original CA by its terms expired on October 4, 2021 but based on course of dealings and verbal agreements, Regnum and Consultant continued to operate pursuant to the Original CA, including that any Regnum requested services rendered by Consultant during such period to Regnum were to be invoiced by Consultant to Regnum using the same payment schedule as in the Original CA. Pursuant to this Agreement, Consultant acknowledges receipt and payment in full of those payments made by Regnum to Consultant for services rendered by Consultant under the Original CA from the period of October 4, 2021 through March 31, 2022. Further, pursuant to this Agreement, Regnum and Consultant acknowledge, agree, ratify and affirm this Agreement supersedes the Original CA,


[Signatures on the next page]




IN WITNESS WHEREOF, the Company and Consultant have duly executed and delivered this Agreement as of the day first written above.



/s/ Robert J. Stubblefield

Robert J. Stubblefield



Address: 175 Grevillia Drive, Petaluma, CA 94952




By: /s/ Anne Kirby


Anne Kirby





Address: 600 Third Avenue, 19th Floor, New York, NY 10016