SIBLING ENTERTAINMENT GROUP, INC. MUTUAL RESCISSION AGREEMENTEMPLOYMENT AGREEMENT DATED DECEMBER 13, 2006

Exhibit No. 10.01 - Rescission Agreement, William F. Plon as CFO

S IBLING E NTERTAINMENT G ROUP, I NC.

MUTUAL RESCISSION AGREEMENT

E MPLOYMENT A GREEMENT DATED DECEMBER 13 , 2006

WITH W ILLIAM P LON AS C HIEF F INANCIAL O FFICER

This Agreement of mutual rescission of a contract made and entered into this 31 ^st day of May, 2007, by and between William Plon (“WP”) and Sibling Entertainment Group, Inc. (“SEGI”).

SEGI and WP hereby mutually acknowledge and agree that:

1.              On December 13, 2006, the parties entered into an employment agreement hiring WP as Chief Financial Officer of SEGI which is attached and marked Exhibit B (the “Employment Agreement”).

2.              The parties to the Employment Agreement and to this agreement of mutual rescission wish to rescind the Employment Agreement and to simultaneously engage WP as a consultant to SEGI by executing a consulting agreement attached and marked Exhibit C (the “Consulting Agreement”); the parties agree to simultaneously execute of a mutual release agreement attached and marked Exhibit D