AMENDMENT TO EMPLOYMENT AGREEMENT
AMENDMENT TO EMPLOYMENT
AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT
is made this 17th day of
December, 2008 by and between EAU TECHNOLOGIES, INC., a Delaware corporation
(the “Company”), and XXXX
XXXXXXX, an
individual resident of the State of Georgia (the “Employee”)
BACKGROUND
WHEREAS, Company and Employee
previously entered into an employment agreement dated October 24, 2006 (the
“Employment
Agreement”); and
WHEREAS, the parties wish to amend the
Employment Agreement to comply with Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”).
NOW THEREFORE, for and in consideration
of ten dollars and
other for good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Employment Agreement is hereby amended as
follows:
1. Section
(i) of Schedule 1 attached to the Employment Agreement is hereby amended and
restated to read as follows:
(i) “Permanent
Disability” shall mean (i) the inability of the Employee to engage in any
substantial gainful activity with respect to the Employee’s duties with the
Company by reason of any medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a
continuous period of not less than twelve (12) months; (ii) the receipt by the
Employee of income replacement benefits for a period of not less than three (3)
months under an accident and health plan covering employees of the Company by
reason of any medically determinable physical or mental impairment that can be
expected to result in death or can be expected to last for a continuous period
of not less than twelve (12) months; or (iii) the Employee is determined to be
disabled by the Social Security Administration.
2. In
all other respects, the provisions of the Employment Agreement shall continue in
full force and effect.
[Remainder
of page intentionally left blank.]
IN WITNESS WHEREOF, the parties hereto
have executed and delivered this Agreement on the date set forth
above.
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COMPANY:
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By:
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/s/ Xxxx Xxxxxxx | |
| Print Name: Xxxx Xxxxxxx | |||
| Title: Director | |||
| EMPLOYEE: | |||
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By:
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/s/ Xxxx Xxxxxxx | |
| Xxxx Xxxxxxx | |||
