Third Amendment to Director Offer Letter between Augme Technologies, Inc. and Donald Stout (July 2013)
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Summary
This agreement is a third amendment to the original offer letter between Augme Technologies, Inc. and Donald Stout, relating to his compensation as a Director. Effective March 22, 2013, it removes a provision from a prior amendment that entitled Mr. Stout to a 1% transaction fee for certain monetization activities involving the company's intellectual property. All other terms of the original agreement, as previously amended, remain unchanged. Both parties have agreed to this amendment as of July 2013.
EX-10.8 3 ex10-8.htm A THIRD AMENDMENT TO OFFER LETTER OF DONALD STOUT DATED JULY 5, 2013 ex10-8.htm
Exhibit 10.8
July 5, 2013
VIA ELECTRONIC MAIL
Donald Stout
Re: Third Amendment to Agreement dated January 4, 2011
Dear Don:
The purpose of this agreement is to amend that certain agreement (the "Original Agreement") between you and Augme Technologies, Inc. (the "Company") dated January 4, 2011, which outlined the compensation you are to receive in consideration for your service to the Company as a Director.
On March 16, 2011, you and the Company entered into an Amendment to the Original Agreement (the “First Amendment”); and on November 28, 2011, you and the Company entered into an Amendment to the Original Agreement (the “Second Amendment”). Therefore, you agree to enter into this Third Amendment to further amend the Original Agreement, as amended, effective March 22, 2013, the date of Board approval.
The following paragraph was included in your Second Amendment, which states:
you will receive one-percent (1%) Transaction Fee for your participation in the realization of the monetization of the Company’s intellectual property either through: a) a settlement agreement; b) license agreement (except for licenses entered into in the ordinary course of the Company’s business); or c) asset sale during the period of directorship and extending six months thereafter.
Shall be deleted in its entirety and nothing shall appear in its place.
The Company affirms that all of the other terms and conditions of the Original Agreement, as amended, shall continue in full force and effect.
Thank you for your attention to this matter.
Very truly yours,
AUGME TECHNOLOGIES, INC.
By: /s/ Ivan Braiker
Ivan Braiker, Chief Executive Officer
July 9, 2013
I have read the agreement above. By my signature below I confirm that I agree with the Third Amendment to the Original Agreement, as amended, and to the modification of my compensation as a Director effected thereby.
/s/ Donald E. Stout
Donald E. Stout
