ADDENDUM TO EMPLOYMENT CONTRACT FOR CHIEF EXECUTIVE OFFICER
Aegis Assessments, Inc., a Delaware corporation ("Employer"), located
at 0000 Xxxx Xxxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, and Xxxx
Xxxxxxx ("Employee"), in consideration of the mutual promises made herein, and
in the Employment Agreement dated April 1, 2002 between the parties (hereinafter
the "Employment Agreement"), hereby agree to amend Article 4 of the Employment
Agreement as follows:
ARTICLE 4. COMPENSATION OF EMPLOYEE
Section 4.01. (a) As compensation for the services to be performed hereunder,
Employee shall receive a salary at the rate of $114,000.00 per annum, payable
not less than once each month, on or before the first calendar day of each month
during the employment term. In lieu of cash, and from time to time as authorized
and approved by the Employer's Board of Directors and accepted by Employee,
Employer may compensate Employee with Employer's common stock in lieu of cash
salary.
(b) Employee shall receive such annual increases in salary as may be
determined by Employer's Board of Directors in its sole discretion, but in no
case less than 10% per annum.
Executed on March 28, 2003, at Newport Beach, California.
EMPLOYER EMPLOYEE
AEGIS ASSESSMENTS, INC. /s/ Xxxx Xxxxxxx
By /s/ Xxxxxxx Xxxxxxx
Its: Secretary and
Chief Operating Officer
