Exhibit 10.3(c)
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
XXXXXXX X. XXXXXX AND IPORUSSIA, INC.
AMENDMENT NO. 2 dated as of April 1, 2003, to EMPLOYMENT AGREEMENT
("Agreement") dated as of April 1, 2002, by and between IPORUSSIA, INC., a
Delaware corporation, having a place of business at 00 Xxxxxxxx Xxxxxx, Xxxxxxx,
XX 00000 (hereinafter designated and referred to as "Company"), and Xxxxxxx X.
Xxxxxx (hereinafter designated and referred to as "Employee").
WHEREAS, the Company and Employee desire to amend the Agreement.
NOW THEREFORE, in consideration of the promises and mutual covenants herein
contained, the parties hereto agree as follows:
1. AMENDMENT. Section 2 of the Agreement is restated in its entirety to
read as follows:
2. EFFECTIVE DATE: The EFFECTIVE date (the "Effective
Date") of this Agreement shall commence two weeks after
the Company obtains funding in the amount of at least
Two Hundred and Fifty Thousand Dollars (USD$250,000).
If the Effective Date does not commence before August
31, 2003 either party may terminate this Agreement on
ten (10) days written notice, unless mutually extended.
2. MISCELLANEOUS. All terms used, but not defined, herein shall have the
respective meanings set forth in the Agreement. Except as otherwise expressly
modified by this Amendment, the Agreement shall remain in full force and effect
in accordance with its terms. This Amendment may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have duly executed this Amendment as of the
day and year first above written.
IPORUSSIA, INC.
By: /s/ Xxxxxxxx X. Xxxxxxxxx
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Xxxxxxxx X. Xxxxxxxxx
President and Chief Executive Officer
/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
Employee
Employment agree suroff 2 Page 1 of 1
