Exhibit 10.01
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
Amendment No. 1 to Employment Agreement, dated as of May 1, 2003, by
and between Interactive Systems Worldwide Inc. (f/k/a International Sports
Wagering Inc.), a Delaware corporation (the "Corporation") and Xxxxxxx Xxxxxxxx
(the "Employee").
WHEREAS, the parties entered into an Employment Agreement dated as of
March 17, 2000 (the "Agreement"); and
WHEREAS, the parties desire to extend the term of the Agreement.
NOW, THEREFORE, in consideration of the mutual promises herein
contained, and for other good and valuable consideration receipt of which is
hereby acknowledged, the parties hereto agree as follow:
1. Amendments
(a) All references in the Agreement to International Sports Wagering
Inc., shall be deemed references to Interactive Systems Worldwide Inc.
(b) The reference to June 30, 2003 in the first sentence of Section 3.1
of the Agreement is amended and shall hereby be deemed a reference to June 30,
2005.
(c) Section 16 of the Agreement is hereby deleted in its entirety and
the following is placed in its stead:
NOTICES. Any notice or other communication required or desired to be
given shall be in writing and shall be sent by registered or certified mail
return receipt requested or by express mail. Each such notice shall be deemed
given at the time it is mailed in any post office maintained by the United
States to the following respective addresses, which either party may change as
to such party upon ten (10) days' notice to the other.
To the Corporation:
Interactive Systems Worldwide Inc.
0 Xxxxxxx Xxxxx, 0xx Xxxxx
Xxxx Xxxxxxxx, Xxx Xxxxxx 00000
Attn: Chairman of the Board
With a copy to:
Xxxxxxx X. Xxxxxxx, Esq.
Xxxxxxxx Xxxxxx Xxxxxx & Xxxxxxx LLP
0000 Xxxxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
To Employee:
Xx. Xxxxxxx Xxxxxxxx
00 Xxxxxxx Xxxxx
Xxxxxx, X.X. 00000
2. Except as herein specifically set forth, the Agreement shall
continue in full force and effect in accordance with its terms.
[remainder of page left blank intentionally]
2
IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 as
of the date first above written.
INTERACTIVE SYSTEMS
WORLDWIDE INC.
By: /s/ Xxxxx Xxxxxx
-----------------------------------------
Name: Xxxxx Xxxxxx
Title: Chairman and Chief Executive
Officer
/s/ Xxxxxxx Xxxxxxxx
-----------------------------------------
Xxxxxxx Xxxxxxxx
3
