CONSULTING AGREEMENT ADDENDUM
This Addendum, entered into on the 16th day of September 2002, supplements the
Agreement entered into on the 20th day of July 2002, by and between Path 1
Network Technologies Inc., a Delaware corporation (Company) and Xxxxxx Xxxxxx
(Consultant).
1. Section 3, Consulting Fees, shall be amended to indicate that
Consultant shall provide at least 11 days of services a month,
representing what would commonly be referred to as "1/2 time".
Consultant will be paid a fixed sum of Nine Thousand Dollars ($9,000) a
month and will receive $9,000 in face value in stock options in Path 1
stock, priced at the end of each month at the time that Consultant's
salary is paid. Please refer to the formula stated in the Agreement -
Section 3.
2. Section 4, Additional Payments, shall be amended to indicate that
expenses relating to the performance of Consultant's duties shall be
tied to the marketing budget and that Consultant shall confer with
Xxxxx Xxxxxxxxx, VP of Marketing and Sales, with regard to travel
issues.
3. Section 1, Consultancy, shall be amended so that the agreement shall be
on a month-to-month basis for the period of the remainder of 2002.
4. Consultant shall have the title of "Chief Strategy Officer" and will be
responsible for identifying business development opportunities
primarily in the cable industry and affiliated industries.
Agreed to on the date first stated above.
Path 1 Network Technologies Inc. Consultant: Xxxxxx Xxxxxx
By:
/s/ Xxxxxxxxx X. Xxxx /s/ Xxxxxx X. Xxxxxx
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Xxxxxxxxx X. Xxxx, CEO Xxxxxx X. Xxxxxx
Xxxxxx Associates
Tax ID: 00-0000000
