AMENDING AGREEMENT
Exhibit 10.2
THIS
AGREEMENT made the 29th day of June, 2007
BETWEEN:
LML
PAYMENT SYSTEMS INC., a corporation continued under the laws
of the Yukon Territory
(“LML”)
AND:
BEANSTREAM
INTERNET COMMERCE INC., a corporation incorporated under the laws of
British Columbia
(“Beanstream”)
AND:
XXXXX
XXXXXXX, an individual residing at 0000 Xxxxxxxxx Xxxxx, Xxxxxxxx,
Xxxxxxx Xxxxxxxx, X0X 0X0
(the
“Employee”)
WHEREAS:
A.
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Beanstream
and the Employee are parties to an employment agreement dated December
1,
2006 (the “Original Agreement”) whereby Beanstream has
retained the services of the Employee in acting as its President
and Chief
Executive Officer;
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B.
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Pursuant
to an Arrangement Agreement dated April 30, 2007 as amended by an
amending
agreement dated May 24, 2007 between LML and Beanstream, LML acquired
all
of the issued and outstanding shares in the capital stock of Beanstream;
and
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C
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The
parties now wish to make certain amendments to the Original Agreement
upon
the terms and conditions set out in this
Agreement;
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NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth
herein and other valuable consideration (the receipt and sufficiency of which
is
hereby acknowledged), the parties hereto covenant and agree as
follows:
1.
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Section
3.6 and Section 3.7 of the Original Agreement are deleted in their
entirety.
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2.
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The
following provision is added to the Original Agreement as a new
Section
3.6:
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“3.6 The
Employee is eligible to be awarded options to purchase Common Shares in the
capital stock of LML by the Stock Option Committee of LML or the Compensation
Committee of LML, as the case may be.”
3.
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All
provisions of the Original Agreement which are not amended by this
Agreement remain unchanged and the amendments contemplated in Sections
1
and 2 hereof taken together with all other unamended provisions
of the Original Agreement form the employment agreement between Beanstream
and the Employee as if such amendments formed part of the Original
Agreement.
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IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed
on
the day and year first above written.
Per:
/s/ Xxxxxxx X. Xxxxxx
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Authorized
Signatory
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BEANSTREAM
INTERNET COMMERCE INC.
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Per:
/s/ Xxxxx Xxxxxxx
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Authorized
Signatory
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XXXXX
XXXXXXX
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/s/
Xxxxx Xxxxxxx
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/s/
Xxxxx Xxxxx
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Signature
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Witness
Signature
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Xxxxx
Xxxxx
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Print
Witness Name
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