Item 1.01 Entry into a Material Definitive Agreement.
On March 23, 2023, Recruiter.com Group, Inc. (the "Company") entered into a
Master Referral Agreement ("Master Agreement") and a Strategic Referral
Agreement ("Strategic Agreement") with Job Mobz Inc. ("Job Mobz"). Pursuant to
the Master Agreement, the Company may from time to time refer certain clients of
the Company to Job Mobz. For each new client of Job Mobz, with whom Job Mobz did
note have commercial contact with in the 12 months preceding the referral, Job
Mobz shall pay to the company a referral fee as set forth in the Agreement. The
amount of the referral fee is dependent upon whether the referral is an existing
client of the Company, a new client of the Company, or a client of the Company
who purchases services from Job Mobz of a nature not historically offered by the
Company. Referral fees under the Master Agreement are subject to certain minimum
and maximum payout amounts. The Master Agreement generally continues until the
maximum payout is achieved or until 36 months have elapsed. Once enough referral
fees are paid so that minimum commission is achieved, the Strategic Agreement
comes into full force and effect which will then govern referral fees for new
clients of the Company or a client of the Company who purchase services from Job
Mobz of a nature not historically offered by the Company. The Strategic
Agreement generally can be terminated upon 60 days prior written notice to the
other party.
The summaries of the Master Agreement and the Strategic Agreement do not purport
to be complete and are qualified in their entirety by reference to the full
texts of the Master Agreement and Strategic Agreement, respectively, copies of
which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 23, 2023, Josh McBride notified Recruiter.com Group, Inc. (the
"Company") of his decision to resign from his position as Chief Revenue Officer
of the Company, effective as of March 23, 2023.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit Description
10.1 Master Referral Agreement, by and between the Company and Job Mobz
Inc., dated March 23, 2023.
10.2 Strategic Referral Agreement, by and between the Company and Job Mobz
Inc., dated March 23, 2023.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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