EXHIBIT 10.12 1999AMENDMENT TO EMPLOYMENT AGREEMENT OF XXXXXXXX XXXXXX
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT AGREEMENT is made and entered into effective the 1st day of
September 1999, by and between Conectisys, Inc., a Colorado corporation
("CONECTISYS"), ("Employer"), and Xxxxxxxx X. Xxxxxx ("Employee").
The following amendment to the language of paragraph 2 regarding duties and
paragraph 3 regarding bonus compensation are hereby amended as follows and are
effective retroactively to the initial signing of the Employment Agreement
dated October 2, 1995.
2. Duties. Employee shall devote his full time and efforts to the business of
Employer, and shall be an officer of Conectisys holding the title of Secretary
& Treasurer.
3. Compensation. Employee shall receive said compensation through an option to
purchase up to a maximum of 500,000 shares of Conectisys Corporation restricted
stock under rule 144 at a cost of Sixty (60%) of the average market value
during the prior 180 days of trading; this option shall remain open for five
(5) years with an option to renew said option for an additional five (5) years.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the day and year first above written.
Employee:___________________________________
Xxxxxxxx X. Xxxxxx
Employer:___________________________________
Xxxxxxxx Xxxxxxxx
Conectisys Corp.
Chief Technical Officer
Employer:___________________________________
Xxxxxx X. Xxxxxx
Conectisys Corp.
President & CEO
