EXHIBIT 10.1(a)
Amendment Agreement dated as of September 25, 1997 by and
among International Sports Wagering Inc. (the "Company") and Xxxxx Xxxxxx.
W I T N E S S E T H:
WHEREAS, the parties entered into an Employment Agreement
dated as of May 22, 1995
(the "Agreement"); and
WHEREAS, the parties desire to amend that Agreement on the
terms and conditions set forth
herein.
NOW, THEREFORE, in consideration of $10 and of the mutual
promises herein contained,
and agreeing to be legally bound hereby, the parties hereto agree
as follows:
1. A new Section 4.3 to the Agreement is hereby added
effective as of the
commencement as of the Term of the Agreement:
"4.3 Notwithstanding the provisions of Section 4.2, in
lieu of participating
in the health insurance program provided by the Company
for the benefit of
all of its employees, the Employee may elect to
participate in other medical
insurance (and/or Medicare) and in such case the
Company shall pay or
reimburse the Employee, upon presentation of invoices
therefor, for (i) any
deductible or co-payments required to be paid by the
Employee, (ii) any
medical or hospitalization costs not reimbursed to the
Employee by such
other medical insurance (and/or Medicare) and (iii) the
premiums for the
Employee's existing life insurance policies in the
amount of $200,000;
provided that the aggregate payment or reimbursement to
which the
Employee shall be entitled for all of the foregoing
during the Term of this
Agreement shall be $25,200."
2. Except as herein provided the Agreement shall continue
in full force and effect in
accordance with its terms.
IN WITNESS WHEREOF, the parties have executed this Amendment
Agreement as of the
date and year first above written.
INTERNATIONAL SPORTS WAGERING, INC.
By: /s/ Xxxxxxx Xxxxxxxx
Xxxxxxx Xxxxxxxx, President
By:/s/ Xxxxx Xxxxxx
Xxxxx Xxxxxx
