Exhibit 10.3
ADDENDUM NO. 1
TO
EMPLOYMENT AGREEMENT
THIS ADDENDUM to the Employment Agreement (the "Agreement") entered
into on January 1, 2004, by and between TelePlus Inc. (the "Company") and Xxxxxx
Xxxxxxx the "Employee" ("Consultant") shall modify the terms and conditions of
the Agreement as follows:
Employee " Consultant" shall have the option to receive
Consultant/Management fees in lieu of base compensation. In this event,
the Company shall not be held responsible of any applicable withholding
taxes and customary deductions.
All other provisions of the Agreement remain the same.
IN WITNESS WHEREOF, the parties have executed this Addendum No. 1 to
the Employment Agreement as of February 1, 2004, at Los Angeles, California.
COMPANY: EMPLOYEE:
TELEPLUSPLUS Inc.,
A California corporation
/s/ Xxxxxx Xxxxxxx
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Xxxxxx Xxxxxxx
By: /s/ Xxxxxx Xxxxxxxx
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Xxxxxx Xxxxxxxx
Title: Executive Vice President
