EXHIBIT 10.48
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This First Amendment to Employment Agreement, dated as of January 27, 2000,
is by and between FirstWorld Communications, Inc., a Delaware corporation (the
"Company"), and Xxxx X. Xxxxx ("Executive") (collectively, the "Parties").
Recitals
A. The Parties have previously entered into a written Employment
Agreement, dated as of January 21, 1999 (the "Agreement").
B. The period of employment of Executive by the Company under the
Agreement commenced on January 27, 1999, and continued through January 27, 2000.
C. The Parties mutually desire to extend the period of employment of
Executive by the Company for a period of one (1) year through January 27, 2001,
under the same terms and conditions as contained in the Agreement.
Agreement
In consideration of the foregoing, the mutual covenants contained herein
and other good and valuable consideration, the sufficiency of which is hereby
acknowledged, the Parties hereby agree to amend the Agreement as follows:
1. The first sentence of Section 2 of the Agreement is deleted in its
entirety and replaced with the following:
The period of employment of Executive by the Company
hereunder (the "Employment Period") shall commence on
January 28, 2000 (the "Commencement Date") and shall
continue through January 27, 2001 (the "Expiration Date").
2. Section 4(a) of the Agreement - delete "$120,000" and replace with
"$132,000".
3. Except as expressly modified herein, the Agreement shall remain in full
force and effect in accordance with its terms and conditions.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement, as
amended, as of the date and year first above written.
FirstWorld Communications, Inc.
By: /s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx,
President and Chief Executive Officer
Xxxx X. Xxxxx
/s/ Xxxx X. Xxxxx
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