Amendment No. 2 (the "Amendment"), dated as of the 29 day of
December, 2004, to an Executive Employment Agreement (the "Agreement"), dated as
of December 4, 2002 and amended on January 1, 2003, between Phone1Globalwide,
Inc., a Delaware corporation, having an address at 000 Xxxxx Xxxxxxxx Xxxx.,
Xxxxx 0000, Xxxxx, Xxxxxxx 00000 (the "Employer") and Xxxxx Xxxxxxxxx, residing
at 0000 Xxxxxx Xxxx., #000, Xxxxxxxx Xxxxxx, XX 00000 (the "Executive").
R E C I T A L S:
A. The parties desire to amend the provisions of Section 2.b. of the
Agreement relative to Employment Period, upon the terms and conditions herein
below set forth.
B. Capitalized terms when used herein shall have the meaning ascribed
to them in the Agreement unless the text hereof specifically provides to the
contrary.
NOW, THEREFORE, in consideration of the premises and other good and
valuable consideration which the parties acknowledge they have received, it is
agreed as follows:
1. Section 2.b. of the Agreement is amended and replaced to read as
follows:
"EMPLOYMENT PERIOD. The Company shall employ the Executive
and the Executive shall be employed by the Company, on the terms and
conditions hereinafter set forth, for a period commencing as of
April 1, 2002 (the "Effective Date") and ending on June 1, 2005.
Subject to the provisions of Section 4 of this Agreement, the period
of employment shall be automatically extended for successive
one-year terms of employment, unless either the Company or the
Executive notifies the other in writing at least ninety (90) days
prior to the end of the then current term that it or he does not
intend to renew such employment, in which case such employment will
expire at the end of the then current term. All references herein to
the "Employment Period" shall refer to both the initial term and any
such successive renewal term."
2. Except as specifically amended herein, the Agreement shall remain
in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment to the
Agreement as of the date first above written.
PHONE1GLOBALWIDE, INC.
By:_________________________
Name:_______________________
Title:______________________
____________________________
XXXXX XXXXXXXXX
