ADDENDUM TO EMPLOYMENT CONTRACT FOR CHIEF OPERATING OFFICER
Aegis Assessments, Inc., a Delaware corporation ("Employer"), located
at 0000 Xxxx Xxxxxx, Xxxxx 000, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, and Xxxxxxx
Xxxxxxx ("Employee"), in consideration of the mutual promises made herein, and
in the Employment Agreement dated May 1, 2002 between the parties (hereinafter
the "Employment Agreement"), hereby agree to amend Article 4 of the Employment
Agreement as follows:
ARTICLE 4. COMPENSATION OF EMPLOYEE
Annual Salary
Section 4.01. (a) As compensation for the services to be performed
hereunder, for the first year of employment Employee shall receive a salary at
the rate of $96,000.00 per annum, payable on the first and fifteenth calendar
day of each month during the employment term. Following the first year of
employment and for the term of this agreement, the salary shall be negotiated
annually with the board of directors but shall be no less than 110% of the
previous year's salary. In lieu of cash, and from time to time as authorized and
approved by the Employer's Board of Directors and accepted by Employee, Employer
may compensate Employee with Employer's common stock in lieu of cash salary.
Executed on March 28, 2003, at Newport Beach, California.
EMPLOYER EMPLOYEE
AEGIS ASSESSMENTS, INC. /s/ Xxxxxxx Xxxxxxx
By /s/ Xxxx Xxxxxxx
Its: President and
Chief Executive Officer
