AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT
Exhibit
10.6
AMENDMENT TO EXECUTIVE
EMPLOYMENT AGREEMENT
This
amendment to Executive Employment Agreement is executed this date November 10,
2009 by and between Gen2Media Corporation (“Company”) and Xxxxxxx Xxxxxx
(“Employee”).
1.
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This
agreement amends the Executive Employment Agreement between the parties
dated August 14, 2009
(“Agreement”).
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2.
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The
Agreement is hereby amended to provide for a modification in the incentive
based compensation related to stock options based on Xx. Xxxxxx’x
appointment to the Board of
Directors.
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3.
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The
Options originally granted to Xx. Xxxxxx shall be modified as
follows: 1,000,000 Stock Options granted at $0.01 shall be
converted to grant of restricted shares. The 2,000,000
remaining Stock Options shall be reset to a strike price of
$0.30. Said Options shall continue to vest over the life of the
initial contract. Such Shares and Options shall remain
restricted for a period of two years from the date of this
amendment.
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4.
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Other
than specifically amended hereby, all other terms and provisions of the
Agreement shall remain in full force and
effect.
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Gen2Media
Corporation: Employee:
_________________________ __________________________
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Xxxx
Xxxxxxx, Chairman and CEO
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Xxxxxxx
Xxxxxx, Chief Operating Officer and Chief Technology
Officer
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