Amendment No. 3 to Employment Agreement Between CornerWorld Corporation and Scott N. Beck (July 28, 2013)
CornerWorld Corporation and its CEO, Scott N. Beck, have amended their employment agreement for the third time. This amendment retroactively sets Mr. Beck’s annual base salary at $250,000 from the original agreement date through April 30, 2014, after which his salary will return to $400,000 per year starting May 1, 2014. Additionally, Mr. Beck forfeits his right to an annual equity award that would have been payable on July 31, 2013. The amendment is signed by both parties and is effective as stated.
Exhibit 10.73
AMENDMENT NUMBER 3 TO EMPLOYMENT AGREEMENT DATED JULY 28, 2011
BETWEEN CORNERWORLD CORPORATION AND SCOTT N. BECK
WITNESSETH:
WHEREAS, on July 28, 2011, CornerWorld Corporation and its Chief Executive Officer, Scott N. Beck (collectively the “Parties”) entered into an employment agreement (the “Agreement”) and, unless otherwise noted, all capitalized terms have the identical meaning as defined in the Agreement.
WHEREAS, on December 15, 2011, the Parties amended the Agreement.
WHEREAS, on July 28, 2012, the Parties amended the Agreement.
NOW, THEREFORE, in consideration of the premises and the agreements hereinafter contained, and for other good and valuable consideration, notwithstanding any provisions of the Agreement to the contrary, the Parties hereto hereby agree to the following:
Pursuant to Item 1(b), Employee’s annual base salary shall be retroactively adjusted to $250,000 for the period from the Effective Date of the Agreement through the period ending April 30, 2014. Effective May 1, 2014, Employee’s annual base salary shall return to the stated rate of $400,000 per annum.
Pursuant to Item 1(c), Employee has forfeited his right to an annual equity award payable on July 31, 2013.
By: /s/ Scott N. Beck
Scott N. Beck
An individual
CORNERWORLD CORPORATION
By: /s/ Marc Blumberg
Marc Blumberg
Director
