Options Media Group Holdings, Inc.
Exhibit 10.16
000 XX 00xx Xxxxxx, Xxxxx 000
Xxxx Xxxxx, XX 00000
July 20, 2011
Xxxxx Xxxxxxx
000 XX 00xx Xxxxxx, Xxxxx 000
Xxxx Xxxxx, XX 00000
Dear Xxxxx:
This letter (“Amendment”) acknowledges that there was a scrivener’s error in your employment agreement dated June 26, 2011 (the “Agreement”) in which the shares comprising a portion of the signing bonus failed to reflect the obligation of the Executive to purchase such shares at a price of $0.01 per share. In order to fix this error, Options Media Group Holdings, Inc. has agreed to modify Section 4(b)(ii) of the Agreement to reflect the following:
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(ii)
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In addition, the Executive shall, within 90 days of the date of this Amendment, have the right to purchase 12,500,000 shares of common stock of the Company at $0.01 per share, and such shares shall be registered on a Form S-8.
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In all other respects, the Agreement is ratified and confirmed. Please sign a copy of this letter agreement and return it to me.
| Very truly yours, | |
| /s/ Xxxxx St. Clair | |
| St. Clair Chairman |
| AGREED AND ACCEPTED: | ||
| /s/ Xxxxx Xxxxxxx | ||
| Xxxxx Xxxxxxx | ||
| cc: Xxxxxxx X. Xxxxxx, Esq. (Via Email) | ||
