Amendment To Employment Contract

Amendment to Employment Contract

Exhibit 10.49

AMENDMENT TO EMPLOYMENT CONTRACT

This AMENDMENT is made as of the 28 day of April, 2005, between PETER GROVER (hereinafter referred to as “Employee”) and TRX Europe, Ltd., a company incorporated in England and Wales under number 3841799 whose registered office is at Sutherland House, Russell Way, Crawley, West Sussex, RH10 1 UH, UK (hereinafter referred to as the “Company”).

WHEREAS, Employee and the Company previously entered into that certain Employment Contract dated as of January 1, 2004, (the “Employment Contract”); and

WHEREAS, Employee and the Company desire to further amend certain terms and provisions of the Employment Contract;

NOW, THEREFORE, for and in consideration of the sum of Ten and no/100 Dollars ($10.00) in hand paid each to the other and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Employee and the Company hereby agree to amend the Employment Contract as follows:

1. Section 2 of the Employment Contract is amended by deleting the paragraph and replacing it with the following:

Duties and Responsibilities. Employee shall be employed as Executive Vice President, Sales & Client Services, Europe reporting directly to the President & CEO of the Company. As Executive Vice President, Sales & Client Services, Europe, Employee shall have responsibility for day-to-day responsibilities related to relationships with major customers of the Company, including operational oversight, strategic planning, financial forecasting, reconciliation and billing, sales expansion activities, and contract negotiation and compliance, in addition to any specific related duties and responsibilities as may be assigned to him by the President & CEO of the Company. In addition, during the Term of this Employment Contract, Employee shall be responsible for preparing and submitting to the Company at least ninety (90) days prior to the end of the Company’s calendar year an annual budget and business plan for the operation of the Company for the upcoming calendar year. Said annual budget and business plan either shall be approved as submitted, or modified, revised, or amended by the Company and delivered to Employee as the annual budget and business plan for the Company during the applicable calendar year. Employee agrees that he will not take any action inconsistent with the annual budget and business plan of the Company, as approved by the Company. It is expressly understood and agreed, however, that all actions, responsibilities, and authority of Employee are, at all times, subject to the power and authority of the Company and its President to direct, review, alter, amend and modify such actions, responsibilities, and authority.

 

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2. Except as specifically amended herein, the Employment Contract, as previously amended, shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

 

EMPLOYEE:
/s/ Peter Grover
Peter Grover

 

COMPANY:
TRX Europe, Ltd.
By:   /s/ Norwood H. Davis, III
Printed Name: Norwood H. Davis, III
Title: President & CEO

 

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