EXTENSION TO EMPLOYMENT AGREEMENT
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THIS AGREEMENT made as of the 15th day of April, 2001
BETWEEN:
WORLDBID CORPORATION
a Nevada corporation
(the "Corporation")
OF THE FIRST PART
AND:
XXXXXX XXXXXXX
(the "Employee")
OF THE SECOND PART
WHEREAS:
A. The Corporation and the Employee entered into an employment
agreement dated August 31, 1999 (the "Employment Agreement").
B. The Employment Agreement had an original one year term
expiring August 31, 2000, and has been continued by agreement
since that date.
C. The Employment Agreement had not been renewed by written
agreement, as contemplated by Section 4(2) of the Employment
Agreement.
D. The Corporation and the Employee have agreed to extend the
term of the Employment Agreement for an additional one year
term expiring on August 31, 2001 and to enter into this
Agreement to set forth their agreement as to extension of the
term, as contemplated by Section 4(2) of the Employment
Agreement.
NOW THIS AGREEMENT WITNESSES that in consideration of the mutual
promises, covenants and agreements herein contained, the parties
hereto agree as follows:
1. Extension
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1.1 The term of the Employment Agreement is hereby extended
for an additional term expiring on August 31, 2001 on the same
terms and subject to the same conditions as the original term of
the Employment Agreement.
1.2 The Employment Agreement will continue in full force and
effect except as modified by this Agreement to extend the term of
the Employment Agreement.
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2. Interpretation
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2.1 This Agreement shall be governed by and construed in
accordance with the laws of the State of Nevada.
2.2 All headings used in this Agreement are for convenience
of reference only and are not to be used as an aid in the
interpretation of this Agreement.
2.3 This Agreement replaces and supersedes all other
agreements between the Corporation and the Employee relating to the
extension of the Employment Agreement.
2.4 The Employee acknowledges that X'Xxxxx & Company has
acted solely for the Corporation in preparation of this Agreement
and the Employee has been recommended to seek independent legal
advice prior to execution of this Agreement.
IN WITNESS WHEREOF the parties have executed this Agreement as of
the day and year first above written.
WORLDBID CORPORATION
by its authorized signatory:
/s/ Xxxxx Xxxxxxxx
_____________________________
Authorized Signatory
Xxxxx Xxxxxxxx
_____________________________
Name of Authorized Signatory
XXXXX XXXXXXXX
SIGNED, SEALED AND DELIVERED
BY XXXXXX XXXXXXX in the
presence of:
/s/ Xxxxxxx X. Xxxxxx /s/ Xxxxxx Xxxxxxx
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Signature XXXXXX XXXXXXX
Xxxxxxx X. Xxxxxx
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Name
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Address
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