Exhibit 10.3(d)
AMENDMENT NO. 3 TO EMPLOYMENT AGREEMENT
XXXXXXX X. XXXXXX AND IPORUSSIA, INC.
AMENDMENT NO. 3 dated as of July 1, 2003, to EMPLOYMENT AGREEMENT
("Agreement") dated as of April 1, 2002, by and between IPORUSSIA, INC., a
Delaware corporation, having a place of business at 00 Xxxxxxxx Xxxxxx, Xxxxxxx,
XX 00000 (hereinafter designated and referred to as "Company"), and Xxxxxxx X.
Xxxxxx (hereinafter designated and referred to as "Employee").
WHEREAS, the Company and Employee desire to amend the Agreement.
NOW THEREFORE, in consideration of the promises and mutual covenants
herein contained, the parties hereto agree as follows:
1. AMENDMENT. Section 2 of the Agreement is restated in its entirety to
read as follows:
2. EFFECTIVE DATE: The EFFECTIVE date (the "Effective Date")
of this Agreement shall commence two weeks after the
Company obtains funding in the amount of at least Two
Hundred and Fifty Thousand Dollars (USD$250,000). If the
Effective Date does not commence before November 15, 2003
either party may terminate this Agreement on ten (10) days
written notice, unless mutually extended.
2. MISCELLANEOUS. All terms used, but not defined, herein shall have
the respective meanings set forth in the Agreement. Except as otherwise
expressly modified by this Amendment, the Agreement shall remain in full force
and effect in accordance with its terms. This Amendment may be executed in two
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have duly executed this Amendment as of
the day and year first above written.
IPORUSSIA, INC.
By: /s/ Xxxxxxxx X. Xxxxxxxxx
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Xxxxxxxx X. Xxxxxxxxx
President and Chief
Executive Officer
/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
Employee
Employment agreement Suroff 2 Page 1 of 1
