EXHIBIT 10.1
AMENDMENT TO
EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement (the "Amendment") is made as of
this 25th day of July 2014 by and between Competitive Companies, Inc., a Nevada
corporation ("CCI"), and Xxxxxx Xxxxxx ("Employee") with respect to the
following facts:
RECITALS
A. CCI and Employee have entered into that certain Employment
Agreement, dated as of August 7, 2012 (the "Agreement").
B. Section 6.2 of the Agreement sets forth the milestones which
must be reached by CCI in order for Employee to earn
additional compensation.
C. CCI and Employee believe that the milestones described in
Section 6.2 of the Agreement are outdated and CCI and Employee
desire to amend and restate Section 6.2 of the Agreement
accordingly.
D. For good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Employee and CCI
agree to amend and restate Section 6.2 of this Agreement as
set forth in this Amendment in order to amend the milestones
which must be achieved by CCI in order for Employee to earn
additional compensation.
E. The terms used in this Amendment will have the meanings
ascribed to them in the Agreement unless otherwise defined
herein.
NOW, THEREFORE, for one dollar and other good and valuable
consideration, THE PARTIES HERETO AGREE AS FOLLOWS:
1. AMENDMENT.
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Section 6.2 of the Agreement is hereby amended and restated as follows:
"In addition to the compensation set forth in Section 6.1 of this
Agreement, in consideration for Employee's assistance with the
successful deployment of the Company's WiFi broadband network in all
cities as of August 5, 2014, Employee will be paid a bonus totaling
$15,000 payable on July 25, 2014. Employee and the Company agree to
further amend this Section 6.2 of the Agreement on or before September
30, 2014 in order to set forth revised milestones which must be
achieved by the Company in order for Employee to earn additional
compensation. Employee may also receive bonuses during each year, in
cash or securities of the Company or a combination of both, as
determined in the sole discretion of the Company's Board of Directors
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based on the Board's evaluation of the Employee's definable efforts,
accomplishments, and similar contributions."
2. EFFECT OF AMENDMENT.
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The Agreement will remain in full force and effect except as
specifically modified by this Amendment. In the event of any conflict between
the Amendment and the Agreement, the terms of this Amendment will govern.
3. COUNTERPARTS.
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This Amendment may be executed simultaneously in any number of
counterparts, each of which counterparts will be deemed to be an original and
such counterparts will constitute but one and the same instrument.
4. EFFECTIVENESS.
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This Amendment will become effective as of the date first above
written.
IN WITNESS WHEREOF, this Amendment is executed as of the date first
above written.
CCI: COMPETITIVE COMPANIES, INC.
By:
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Xxxxxxx X. Xxxx, President
EMPLOYEE:
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Xxxxxx Xxxxxx
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