Exhibit 10.22
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This Amendment dated April 1, 2005 hereby amends the Employment
Agreement dated August 3, 2004, by and between SpeechSwitch, Inc., f/k/a
iVoice Technology 3, Inc., a New Jersey corporation (hereinafter referred to
as the "Company"), having an office at 000 Xxxxxxx 00, Xxxxxxx, Xxx Xxxxxx
00000 and Xxxxxx Xxxxxxx, 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 August 3, 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 August 3,
2004 Employment Agreement and (ii) both parties agree that all terms of the
Employment Agreement are in full force and effect.
2. The Executive hereby agrees to accept compensation pursuant to this
Employment Agreement in the form of Class B Common Stock, par value $.01 per
share, in lieu of cash, for as long as the Board of Directors decides in its
sole discretion that the Company does not have the financial resources to pay
the Executive in cash.
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. Xxxxxx Xxxxxxx
By: /s/ Xxxx Xxxxxxx By: /s/ Xxxxxx Xxxxxxx
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Title: President
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Date:__________________ Date:__________________
