April 23, 2014 Dear Mr. Rubinstein,
Exhibit 10.7
April 23, 2014
Dear Xx. Xxxxxxxxxx,
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/ Xxx Xxxxx |
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Xxx Xxxxx |
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General Counsel |
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RestorGenex Corporation |
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/s/ Xxxxxx Xxxxxxxxxx |
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Xxxxxx Xxxxxxxxxx |