December 5, 2006 Mr. Lany Tiffany Olney, MD. 20832 RE: Extension of Employment Arrangement Dear Larry:
10.93b
December
5, 2006
Mr.
Xxxx
Xxxxxxx
1865
Shadow Ridge Terrace
Olney,
MD.
20832
RE:
Extension of Employment Arrangement
Dear
Xxxxx:
Xxxx
Logic
Inc. and you have previously entered into an employment arrangement as detailed
in an offer letter dated June 21, 2006. This arrangement was modified' and
extended on August 30, 2006. I am now proposing to further extend the term
of
that employment upon the following conditions:
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Term
of employment:
The term of employment would be extended to January 31, 2007, but
would be
terminable prior to that date by either party upon thirty days prior
written notice, which notice period may be shortened by mutual written
agreement. On or before January 31, 2007, we will discuss a further
extension of this employment. If the position converts to regular
full-time, then this position with GLGC is one of an employee-at-will
and
is terminable by either party, with or without
cause.
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Base
Salary, Title and Position:
unchanged from the original offer letter of June 21,
2006.
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Holiday
Pay:
As
was stated in the extension letter of August 30th, 2006, in lieu
of a cash
bonus the Company would agree to give you limited paid time off.
For the
period from January 1, 2007 to January 31, 2007, the Company would
agree
to give you paid time off for New Years Day, January 1 st, 2007 at
your
agreed daily base salary rate so long as your employment continues
beyond
this holiday.
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·
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Other
terms:
Except as specifically modified herein and in the extension letter
of
August 30th, 2006, your employment continues upon the terms specified
in
the letter of June 21, 2006.
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This
agreement is subject to approval of the Board of Directors of GLGC.
If
this is
acceptable to you, please so indicate by signing and returning to me a copy
of
this letter, which will then constitute our agreement to extend the employment
arrangement as described above, subject to obtaining Board
approval.
THE
ABOVE
PROPOSAL IS HEREBY ACCEPTED.
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/s/
Xxxxx Xxxxxxx
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2/8/07
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Signature
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Date
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Xxxxx
Xxxxxxx
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Printed
Name
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