AMENDMENT NO. 1 TO FORTUNET, INC. EXEMPT EMPLOYMENT AGREEMENT
Exhibit
10.2
AMENDMENT
NO. 1 TO
EXEMPT
EMPLOYMENT
AGREEMENT
This
Amendment No. 1 to FortuNet, Inc. Exempt Employment Agreement (the
“Amendment”) is entered into on December 3, 2007 (the “Effective
Date”) by and between FortuNet, Inc., a Nevada corporation (the
“Company”), and Xxxxx X. Karo (“Employee”).
R
E C
I T A L S
WHEREAS,
the
Company and Employee have entered into that certain Exempt Employment Agreement,
dated as of October 15, 2007 (the “Agreement”); and
WHEREAS,
the
Company and Employee desire to amend the Agreement in accordance with the terms
of this Amendment.
NOW,
THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Company and Employee hereby agree to amend the Agreement
as
follows:
A
M E
N D M E N T
1. Definitions;
References; Interpretation. Except as otherwise provided herein,
capitalized terms used in this Amendment shall have the definitions set forth
in
the Agreement. Each reference to “this Agreement,” “hereof,”
“hereunder,” “herein” and “hereby” and each other similar reference contained in
the Agreement shall from and after the date hereof refer to the Agreement,
as
amended hereby.
2. Amendment. The
Employee will serve in the office of Chief Financial Officer of the Company
at
an at will employee at the pleasure of the Board of Directors, effective January
5, 2008. Section 3 of the Agreement is hereby amended to provide
that, effective as of January 5, 2008, Company will pay Employee biweekly a
salary of five thousand seven hundred sixty nine dollars and twenty-four cents
($5,769.24).
3. Terms
of
Agreement. Except as expressly modified hereby, all terms,
conditions and provisions of the Agreement shall continue in full force and
effect.
4. Conflicting
Terms. In the event of any inconsistency or conflict between the
Agreement and this Amendment, the terms, conditions and provisions of this
Amendment shall govern and control.
5. Entire
Agreement. This Amendment and the Agreement constitute the entire
and exclusive agreement between the parties with respect to the subject matter
hereof. All previous discussions and agreements with respect to this
subject matter are superseded by the Agreement and this
Amendment. This Amendment may be executed in one or more
counterparts, each of which shall be an original and all of which taken together
shall constitute one and the same instrument.
IN
WITNESS
WHEREOF, each of the undersigned has executed this Amendment as of the date
first set forth above, to be effective upon the Effective Date.
1
FORTUNET,
INC.
Xxxxx X. Karo
By /s/
Xxxx
Xxxxx /s/ Xxxxx X. Karo
Xxxx
Xxxxx,
Xxxxx X. Karo
Chief
Executive Officer
2
