EMPLOYMENT AGREEMENT ADDENDUM #3
Exhibit
10.10
EMPLOYMENT
AGREEMENT ADDENDUM #3
This
Addendum pertains to the Employment Agreement between Xxxxxx
X. Xxxxxxx ("Employee")
and Left
Behind Games Inc.
("LBG"
or the "Company") as Chief Financial Officer. Employee
and the Company are sometimes individually referred to herein as a "party"
and
collectively as the "parties."
The
“Base
Salary” as stated in the original agreement, shall be amended to include the
following provisions:
| a) |
After
Company achieves Initial Revenues:
Salary of Seventy-Five Thousand US Dollars ($75,000.00
USD).
|
| b) |
After
Company achieves $4 million in Annual Revenues:
Salary of Ninety Thousand US Dollars ($90,000.00 USD), a Ten Thousand
Dollar ($10,000.00) Bonus, and a One Thousand Dollar ($1,000.00)
per month
Expense Account to be spent at your
discretion.
|
| c) |
After
Company achieves $8 million in Annual Revenues:
Salary of One Hundred Thousand US Dollars ($100,000.00 USD), a Twenty
Thousand Dollar ($20,000.00) Bonus, and a Two Thousand Dollar ($2,000.00)
per month Expense Account to be spent at your
discretion.
|
| d) |
After
Company achieves $12 million in Annual Revenues:
Salary of One Hundred Twenty-Five Thousand US Dollars ($125,000.00
USD), a
Thirty Thousand Dollar ($30,000.00) Bonus, and a Three Thousand Dollar
($3,000.00) per month Expense Account to be spent at your
discretion.
|
| e) |
After
Company achieves $16 million in Annual Revenues:
Salary of One Hundred Fifty Thousand US Dollars ($150,000.00 USD),
a Fifty
Thousand Dollar ($50,000.00) Bonus, and a Five Thousand Dollar ($5,000.00)
per month Expense Account to be spent at your
discretion.
|
By
signing below, the parties acknowledge they have read, understand and agree
to
this terms and conditions of this Addendum.
| EMPLOYEE | |
| /s/ Xxxxxx X. Xxxxxxx | Feb 1, 2005 |
| By: ______________________ | __________ |
| Xxxxxx X. Xxxxxxx | Date |
ACCEPTED:
LEFT
BEHIND GAMES INC.
a
Delaware corporation
| /s/ Xxxxxxx X. Xxxxxxxx | Feb 1, 2005 |
| By:_______________________ | __________ |
| Xxxxxxx X. Xxxxxxxx, President | Date |
