EXHIBIT 10.26
FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT
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This Amendment to Employment Agreement ("Amendment") is made as of February
18, 2001, between Grow Biz International, Inc. ("Employer") and Xxxx X. Xxxxxx
("Employee").
INTRODUCTION
Employer and Employee entered into a Employment Agreement dated March 22,
2000 ("Employment Agreement"), which each party now desires to amend as set
forth below.
AGREEMENT
In consideration of the foregoing, the parties agree as follows:
1. Amendment of Section 3. Section 3 of the Employment Agreement is hereby
amended and restated in its entirety as follows:
Annual Base Salary. The annual base salary, exclusive of any benefits
or bonuses, which Employer agrees to pay to Employee will be One
Hundred Thousand Dollars ($100,000). All amounts paid under this
Agreement will be paid consistent with Employer's normal payroll
practice and will be subject to all normal and required withholdings.
2. Force and Effect. Except as amended hereby, each term of the Employment
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
herein first above written.
EMPLOYER:
Grow Biz International, Inc.
Dated: February 18, 2001 By: /s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx, President
EMPLOYEE:
Dated: February 18, 2001 By: /s/ Xxxx X. Xxxxxx
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Xxxx X. Xxxxxx
