July 30, 2007
July 30, 2007
Xxxx X. Xxxx
Chairman of the Board of Directors
Re: Amendment to Employment Agreement
Dear Xxxx:
This letter agreement (this "Agreement") shall serve as amendment #2 to your employment agreement dated August 24, 1999 with Xxxxxxxxxxxx.xxx Inc. (your "Employment Agreement").
Effective as of August 1, 2007, you have agreed to reduce your salary to $15,000 per annum.
The foregoing amendment shall not constitute "Good Reason" as defined in Section 6(d)(ii) your Employment Agreement, and this Agreement shall not serve as a "Notice of Termination" under Section 6(c) of your Employment Agreement.
You agree that your Employment Agreement and this Agreement together constitute the entire agreement between you and the Company with respect to your employment with the Company, and agree that the terms of your Employment Agreement shall be incorporated herein as if restated in full. Please confirm your agreement by signing and counterpart to this letter.
Xxx Xxxxx
Title: CEO
Confirmed and Agreed:
/s/ Xxxx X. Xxxx