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EXHIBIT 10.8
ADDENDUM
TO EXECUTIVE EMPLOYMENT AGREEMENT
THIS ADDENDUM, effective the 2nd day of December, 1998, is made
pursuant to Article V, Paragraph C, of the Executive Employment Agreement dated
August 24, between XXXXX X. GUILD, (the "Executive"), and TELESERVICES
INTERNATIONAL GROUP INC., (the "Company").
Contemporaneously with the execution of this Addendum, the Company
shall grant the Executive options as follows:
1. Options to acquire 400,000 shares of the Company's restricted common
stock at an exercise price per share equal to $.30. The options shall vest (and
shall become exercisable at the time they vest), subject to continued
employment, on a monthly, pro-rated basis over a period of three years,
commencing January 1, 1999, and shall expire on August 31, 2003. The shares of
common stock underlying the options shall be included in the next Form S-8 (or
equivalent) registration statement filed by the Company with the Securities and
Exchange Commission ("SEC") or, if available and in the discretion of the
Company, may be included under a currently effective Form S-8 registration
statement filed with the SEC for any of the Company's existing employee benefit
plans.
2. Options to acquire 750,000 shares of the Company's restricted common
stock at an exercise price per share equal to $.30. The options shall vest and
become exercisable in accordance with a schedule and/or formula to be
established by mutual agreement which will be based upon objective performance
criteria. In the discretion of the Company, the shares of common stock
underlying the options may be included in a future Form S-8 (or equivalent)
registration statement filed by the Company with the SEC.
The options described above are in addition to those set forth in
Article V, Paragraph A, of the Executive Employment Agreement.
EXECUTIVE
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Xxxxx X. Guild
TELESERVICES INTERNATIONAL GROUP INC.
By:
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Xxxxxx X. Xxxxxx, Chairman
