Exhibit 10.4
AMENDMENT TO THE EMPLOYMENT AGREEMENT
OF
XXXXXXX X. XXXXX
This Amendment (this "Amendment") dated as of August 1 , 2001, is by
and among Global Capital Partners Inc., a Delaware corporation with its
principal offices at 0000 Xxxxxxxx Xxxx, Xxxxx 0000, Xxxxxxxxx, Xxxxx Xxxxxxxx
00000 ("GCAP"), Xxxxxx Online, Inc., a Delaware corporation with its principal
offices at 0000 Xxxxxxxx Xxxx, Xxxxx 000, Xxxxxxxx, Xxx Xxxx 00000 (the
"Company") and Xxxxxxx X. Xxxxx, an individual residing at 000 Xxxxxxx Xxxxxx,
Xxx. 0X Xxxx, Xxxxxx Heights, New York 11577 (the "Employee").
W I T N E S S T H:
- - - - - - - - -
WHEREAS, GCAP was formerly known as Eastbrokers International
Incorporated ("Eastbrokers"); and
WHEREAS, the Company is the successor entity to Xxxxxx Online,
LLC, a limited liability company organized under the laws of the State of New
York ("Xxxxxx Online"); and
WHEREAS, Eastbrokers, Xxxxxx Online and Employee have previously
entered into an Employment Agreement dated November 22, 1999 (the "Employment
Agreement"); and
WHEREAS, GCAP, the Company and Employee desire to amend the
Employment Agreement as to certain matters as herein after set forth.
NOW THEREFORE, in consideration of the premises and the covenants
and agreements contained herein, the parties agree as follows:
1. The parties hereto agree that, from and after the date hereof,
GCAP shall no longer be a party to the Employment Agreement and shall be
released from any liability to the Company or Employee thereunder.
2. The parties hereto agree that, from and after the date hereof,
every reference to "Eastbrokers" in the Employment Agreement shall be amended to
read "the Company."
3. Except as expressly provided herein, all of the terms and
conditions of the Employment Agreement shall be unmodified and in full force and
effect.
4. From and after the execution and delivery of this Amendment, all
references to the Employment Agreement contained in all other agreements and
instruments executed and delivered to or in connection with the Employment
Agreement shall hereafter mean and refer to the Employment Agreement as amended
hereby.
IN WITNESS WHEREOF, the undersigned have executed this Amendment on the
day and year first above mentioned.
GLOBAL CAPITAL PARTNERS INC.
By: /s/ XXXXXX X. XXXXXXXXXX
------------------------------
Name: Xxxxxx X. Xxxxxxxxxx
Title: Chief Executive Officer
XXXXXX ONLINE, INC.
By: /s/ XXXXXXXX X. XXXXXX
------------------------------
Name: Xxxxxxxx X. Xxxxxx
Title: Chief Executive Officer
EMPLOYEE
By: /s/ XXXXXXX X. XXXXX
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Xxxxxxx X. Xxxxx
