Exhibit 10.25
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This Amendment dated July 26, 2005 hereby amends the Employment
Agreement dated November 8, 2004, by and between SpeechSwitch, Inc., a New
Jersey corporation, f/k/a iVoice Technology 3, Inc., (hereinafter referred to
as the "Company"), having an office at 000 Xxxxxxx 00, Xxxxxxx, Xxx Xxxxxx
00000 and Xxxxx Xxxx, having his office at 000 Xx. 00, Xxxxxxx, XX 00000
(hereinafter referred to as the "Executive").
W I T N E S S E T H :
WHEREAS, the Company and the Executive mutually desire to amend the
Employment Agreement; and
NOW, THEREFORE, in consideration of the premises, the parties agree as
follows:
1. The Employment Agreement dated November 8, 2004 was initially executed
between the Executive and iVoice Technology 3, Inc., a Nevada corporation.
However, all assets and liabilities were assigned and assumed by SpeechSwitch,
Inc., a New Jersey corporation. Therefore, this Amendment confirms that both
parties: (i) agree to abide by the terms of the November 8, 2004 Employment
Agreement and (ii) both parties agree that all terms of the Employment Agreement
are in full force and effect.
2. A new subparagraph 10(d) is hereby added to the Employment Agreement to
read:
"10(d) "Any other provision in this Paragraph 10 to the contrary
notwithstanding, the Executive shall not be deemed to have been terminated
"For Cause" or "Without Cause" unless and until the Board duly adopts a
resolution by the affirmative vote of no less than a majority of the
disinterested members of the Board, excluding the Executive, at a meeting
of the Board called and held for such purpose (after reasonable notice to
the Executive and an opportunity for the Executive, together with the
Executive's counsel, to be heard before the Board), to terminate the
Executive "For Cause" or "Without Cause", as the case may be."
3. All other terms of the Employment Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date written below.
SpeechSwitch, Inc. Xxxxx Xxxx
By: /s/ Xxxxx Xxxxxxx By: /s/ Xxxxx Xxxx
Title:__________________
Date:__________________ Date:__________________
