AMENDMENT TO GIGABLAST PROFESSIONAL SERVICES AGREEMENT
Exhibit
10.1
AMENDMENT
TO GIGABLAST PROFESSIONAL SERVICES AGREEMENT
This
Amendment (“May 2009 Amendment”) is entered into on the 29th day of
May, 2009 (“Effective Date”) to amend the “Gigablast Professional Services
Agreement” (the “Agreement”) that was made and entered into on January 19, 2009
by and between So Act Network, Inc. (“So Act”) and Gigablast, Inc
(“Gigablast”).
Whereas;
Gigablast hereby agrees to lower the outstanding balance on invoice #00-0000-000
from $34,325.00 to $17,162.50, thereby cutting the charges incurred under that
invoice in half. Gigablast also agrees to change the hourly rate of labor in the
development of the So Act Search Network from $150/hour to $75/hr. In exchange
for these considerations, So Act is hereby granting Gigablast the right to use,
for any purpose that is not in the field of a Social Action Network (as defined
further below), all work or intellectual property that Gigablast developed for
So Act Network under the Gigablast Professional Services Agreement.
DEFINITIONS:
|
1.
|
Gigablast
would be able to provide components of the technology to others who would
not be considered to be a competitor of So Act
Network.
|
|
2.
|
More
specifically, to anyone considered to be a competitor of So Act Network
Gigablast would not provide the “Conversation widget” developed for So Act
together with the “Initiative widget” developed for So Act whereas such
competitors have or are building a social network where their users are
trying to conduct some kind of socially beneficial action in the
world.
|
|
3.
|
Also,
the Search engine and other modules developed for So Act would not be
provided to sites who claim to be a social network where users would have
profiles with missions to conduct some kind of socially beneficial action
in the world.
|
In
witness whereof, the parties hereto have executed this Amendment as of the
Effective Date.
|
Gigablast,
Inc.
|
||
|
By:
/s/ Xxxx
Xxxxx
|
By: /s/ Xxxx
Xxxxxxx
|
|
|
Name: Xxxx
Xxxxx
|
Name:
Xxxx Xxxxxxx
|
|
|
Title:
CEO
|
Title:
President
|
-1-
