Exhibit 10.34
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This Amendment dated September 29, 2005 hereby amends the Employment Agreement
dated August 29, 2005 by and between iVoice Technology, Inc., a New Jersey
corporation (hereinafter referred to as the "Company"), having an office at 000
Xxxxxxx 00, Xxxxxxx, Xxx Xxxxxx 00000 and Xxxx Xxxxxx, having his office at 0
Xxxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000 (hereinafter referred to as the
"Executive").
W I T N E S S E T H :
WHEREAS, the Company and the Executive mutually desire to amend the
Employment Agreement; and
NOW, THEREFORE, in consideration of the premises, the parties agree as
follows:
1. The following language appearing in the first sentence of Subparagraph 4(a)
shall be deleted: "that shall increase on the anniversary date of October 1,
2005 and upon every annual anniversary thereafter, at the rate based on the
Consumer Price Index".
2. Subparagraphs 5(a)(ii), 5(b)(i) and 5(d)(v) are hereby deleted in their
entirety.
3. The following language appearing as the second to last sentence of
Subparagraph 5(b)(iii) shall be deleted: "For those Options not surrendered and
canceled pursuant to this subparagraph, the Company shall guaranty the
Executive's loan for such amount as needed by the Executive to exercise those
outstanding Options that may be exercised as they become exercisable by the
Executive."
4. All references within the Employment Agreement to Subparagraph 5(b)(ii) shall
hereinafter refer to Subparagraph 5(b)(i). All references within the Employment
Agreement to Subparagraph 5(b)(iii) shall hereinafter refer to Subparagraph
5(b)(ii). All references within the Employment Agreement to Subparagraph
5(b)(iv) shall hereinafter refer to Subparagraph 5(b)(iii).
5. All other terms of the Employment Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date written below.
iVoice Technology, Inc. Xxxx Xxxxxx
By: /s/ Xxxxxx Xxxxxxx By: /s/ Xxxx Xxxxxx
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Title: Non-Executive Chairman of the
Board
Date:__________________ Date:__________________
