ADDENDUM TO EMPLOYMENT AGREEMENT
ADDENDUM
TO EMPLOYMENT AGREEMENT
Reference
is made to that certain employment agreement (the “Agreement”) dated January 31,
2008 by and between Xxxxx Xxxxx and Xxxxx Xxx Enterprises Ltd., (“Xxxxx Xxx”) a
corporation organized under the laws of Samoa. Capitalized terms not otherwise
defined herein shall have the meaning ascribed thereto in the
Agreement.
The
parties hereby agree that the Employee shall receive up to 1,000,000 shares
of
common stock of Acheron Inc. (“Acheron”) of which the Company is a wholly owned
subsidiary, in accordance with the following schedule:
|
Event
|
Shares
Released
|
|||
|
Timely
filing of Xxxxx Xxx’x 2007 audited financials
|
125,000
|
|||
|
2007
pre tax income greater than $4,000,000 reported by Xxxxx
Xxx
|
125,000
|
|||
|
Timely
filing of the Company’s 2008 annual report on Form 10-K
|
125,000
|
|||
|
2008
pre tax income equal to or greater than $11,000,000 reported by
the
Company
|
625,000
|
|||
All
shares will be held in escrow until their respective dates of release. In the
event that any of these events do not occur, the relevant number of shares
will
be returned to Acheron for cancellation immediately following each
date.
Except
as
specifically amended or modified herewith, the Agreement is ratified and
confirmed in all respects.
Dated:
March 5, 2008 and effective as of February 8, 2008.
XXXXX
XXX
ENTERPRISES LTD.
BY:
/s/Xxxxxx
Xxxx
Xxxxxx
Xxxx
/s/Xxxxx
Xxxxx
Xxxxx
Xxxxx
AGREED
AND CONSENTED:
BY:
/s/Xxxxxx
Xxxx
Xxxxxx
Xxxx
