EXHIBIT 10.1(b)
KONA GRILL LETTERHEAD
Xxxxxx Xxxxxxx
00000 Xxxx Xxxx
Xxxxxxxxxx, Xxxxxxxxx 00000
RE: AMENDED EMPLOYMENT TERMS
Dear Xxx:
The purpose of this letter is to amend your employment terms as set forth
in your Employment Letter (the "Employment Letter") between Kona Grill, Inc., a
Delaware corporation (the "Company") and you as the ("Executive"):
Section 7 Termination of the Employment Letter shall be deleted and
replaced in its entirety with the following:
7. Termination. It is agreed that Executive is employed at will and may be
terminated with or without cause at any time upon ninety (90) days prior
written notice. Upon termination (except for Cause as defined below)
Executive shall receive a one-year severance payment equal to 12 months
base salary, a pro rata portion of annual bonus and a pro rata portion of
stock options for the year terminated shall vest upon such termination,
and payment of any COBRA amount due for the provision of any and all
health benefits provided to the Executive and Executive's family
immediately prior to his termination for a period of up to 18 months.
For purposes of this Letter Agreement, the term "Cause" shall mean
(i) an action of the Executive which constitutes a willful and material
breach of, or willful and material failure or refusal (other than by
reason of his disability or incapacity) to perform his duties under this
Agreement that is not cured within forty-five (45) days after receipt by
the Executive of written notice of stone, (ii) fraud, embezzlement or
misappropriation of funds during the Executive's employment with the
Company, or (iii) a conviction of any crime during Executive's employment
with the Company which involves dishonesty or a breach of trust or
involves the Company or its executives. Any termination for Cause shall be
made by written notice to the Executive, which shall set forth in
reasonable detail all acts or omissions upon which the Company is relying
for the termination. The Executive shall have the right to address the
Company's board of directors regarding the acts or omissions set forth in
the notice of termination. Upon any termination pursuant to this Section
7, the Company shall pay to the Executive any due and unpaid compensation
(including any bonus compensation earned but unpaid) and earned but unused
vacation time through the date of termination.
KONA GRILL, INC.
By: /s/ Xxxxxx Xxxxx
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Xxxxxx Xxxxx
Chairman
By: /s/ Xxxxxx Xxxxxxx
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Xxxxxx Xxxxxxx
Executive
