Exhibit 10.06
ADDENDUM TO THE BEAVON EMPLOYMENT AGREEMENT OF 8-01-02
The following articles of the Xxxxxx Xxxxxx (Xxxxx) Employment
Agreement effective 8-01-2002 have been amended as of 7-28-2003:
1. Under paragraph III. C. Terms and Salary, the length of the contract
has been extended an additional two (2) years and six (6) months, from 8-01-2003
to 2-01-2006. All other terms and conditions under this paragraph or under any
other paragraph of the original contract agreement effective 8-01-02, except as
noted below, remain the same with the exception of the additional stock options
granted specifically by this contract agreement extension.
2. Under paragraph III. F. 4. Stock, stock options and Bonuses. Upon
the signing of this two (2) year and six (6) months extension to the Beavon
Employment Agreement between the company and Xxxxxx Xxxxxx that renews on
8-01-2003, Xxxxxx Xxxxxx will be issued an additional two million (2,000,000)
share options of the company's stock priced at five (.05) cents per share, to be
granted on the one year anniversary date of the issuance of the previous two
million (2,000,000) stock options. These options can be exercised anytime within
a five (5) year period from the date of issue.
3. Employee has the right to purchase stock rather then stock options
at the same five (.05) cents per share as noted and mentioned anywhere
throughout the contract concerning accrued salary, deferred salary, or expenses.
4. Employee agrees to convert her back pay to stock or options, or take
cash payment from the Company, if the Company is able to pay, when the stock
closes at or above thirty five cents ($0.35).
5. Under Paragraph III.F.4.Stock, Stock Options and Bonuses, all
reference to execution of Options by Non-Recourse Note are hereby deleted, in
compliance with the Xxxxxxxx-Xxxxx Act of 2002. Offsetting compensation will be
negotiated at a future date.
IN WITNESS WHEREOF, the undersigned parties hereto have executed this
Addendum Agreement on July 28th, 2003.
Schimatic Cash Transactions Xxxxxxx.xxx, Inc. Employee: Xxxxxx Xxxxxx (Simon)
000 X. Xxxx Xxxxxxx R 0000 X. Xxxxxxx Xxxx.
Las Vegas, NV., 8911 Xxxxx, Xxxx, 00000
By: /s/ Xxxxxxx X. XxXxxx By: /s/ Xxxxxx Xxxxxx (Simon)
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Xxxxxxx X. XxXxxx, CFO/Director Xxxxxx Xxxxxx (Simon), Employee
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