EXTENSION TO EMPLOYMENT AGREEMENT
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THIS AGREEMENT made as of the 15th day of April, 2001
BETWEEN:
WORLDBID CORPORATION
a Nevada corporation
(the "Corporation")
OF THE FIRST PART
AND:
XXXXX XXXXXXXX
(the "Employee")
OF THE SECOND PART
WHEREAS:
A. The Corporation and the Employee entered into an employment agreement
dated August 31, 1999 (the "Employment Agreement").
B. The Employment Agreement had an original one year term expiring
August 31, 2000, and has been continued by agreement since that date.
C. The Employment Agreement had not been renewed by written agreement,
as contemplated by Section 4(2) of the Employment Agreement.
D. The Corporation and the Employee have agreed to extend the term of
the Employment Agreement for an additional one year term expiring on
August 31, 2001 and to enter into this Agreement to set forth their
agreement as to extension of the term, as contemplated by Section
4(2) of the Employment Agreement.
NOW THIS AGREEMENT WITNESSES that in consideration of the mutual
promises, covenants and agreements herein contained, the parties
hereto agree as follows:
1. Extension
1.1 The term of the Employment Agreement is hereby extended
for an additional term expiring on August 31, 2001 on the same
terms and subject to the same conditions as the original term of
the Employment Agreement.
1.2 The Employment Agreement will continue in full force and
effect except as modified by this Agreement to extend the term of
the Employment Agreement.
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2. Interpretation
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2.1 This Agreement shall be governed by and construed in
accordance with the laws of the State of Nevada.
2.2 All headings used in this Agreement are for convenience
of reference only and are not to be used as an aid in the
interpretation of this Agreement.
2.3 This Agreement replaces and supersedes all other
agreements between the Corporation and the Employee relating to the
extension of the Employment Agreement.
2.4 The Employee acknowledges that X'Xxxxx & Company has
acted solely for the Corporation in preparation of this Agreement
and the Employee has been recommended to seek independent legal
advice prior to execution of this Agreement.
IN WITNESS WHEREOF the parties have executed this Agreement as of
the day and year first above written.
WORLDBID CORPORATION
by its authorized signatory:
/s/ Xxxxxx Xxxxxxx
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Authorized Signatory
Xxxxxx Xxxxxxx
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Name of Authorized Signatory
SIGNED, SEALED AND DELIVERED
BY XXXXX XXXXXXXX in the
presence of:
/s/ Xxxxxxx X. Xxxxxx /s/ Xxxxx Xxxxxxxx
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Signature XXXXX XXXXXXXX
Xxxxxxx X. Xxxxxx
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Name
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Address
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