EMPLOYMENT AGREEMENT ADDENDUM #2
EX-10.4 7 bonanza8kex104.htm EXHIBIT 10.4 ADDENDUM DATED FEBRUARY 1, 2005; EMPLOYMENT AGREEMENT FOR TROY A. LYNDON Exhibit 10.4 Addendum dated February 1, 2005; Employment Agreement for Troy A. Lyndon
Exhibit 10.4
EMPLOYMENT AGREEMENT ADDENDUM #2
This Addendum pertains to the Employment Agreement between Troy A. Lyndon ("Employee") and Left Behind Games Inc. ("LBG" or the "Company") as Chief Executive Officer. Employee and the Company are sometimes individually referred to herein as a "party" and collectively as the "parties."
The “Base Salary” as stated in the original agreement, shall be amended to include the following provisions:
| a) | After Company achieves Initial Revenues: Salary of One Hundred Fifty Thousand US Dollars ($150,000.00 USD). |
| b) | After Company achieves $4 million in Annual Revenues: Salary of One Hundred Eighty Thousand US Dollars ($180,000.00 USD), a Twenty-Five Thousand Dollar ($25,000.00) Bonus, and a One Thousand Dollar ($1,000.00) per month Expense Account to be spent at your discretion. |
| c) | After Company achieves $8 million in Annual Revenues: Salary of Two Hundred Twenty Thousand US Dollars ($220,000.00 USD), a Fifty Thousand Dollar ($50,000.00) Bonus, and a Two Thousand Dollar ($2,000.00) per month Expense Account to be spent at your discretion. |
| d) | After Company achieves $12 million in Annual Revenues: Salary of Two Hundred Sixty Thousand US Dollars ($260,000.00 USD), a Seventy-Five Thousand Dollar ($75,000.00) Bonus, and a Three Thousand Dollar ($3,000.00) per month Expense Account to be spent at your discretion. |
| e) | After Company achieves $16 million in Annual Revenues: Salary of Three Hundred Thousand US Dollars ($300,000.00 USD), a One Hundred and Fifty Thousand Dollar ($150,000.00) Bonus, and a Five Thousand Dollar ($5,000.00) per month Expense Account to be spent at your discretion. |
By signing below, the parties acknowledge they have read, understand and agree to this terms and conditions of this Addendum.
| EMPLOYEE | |
| /s/ Troy A. Lyndon | Feb 1, 2005 |
| _____________________ | ___________ |
| Troy A. Lyndon | Date |
ACCEPTED:
LEFT BEHIND GAMES INC.
a Delaware corporation
/s/ Jeffrey S. Frichner Feb 1, 2005
By:______________________ ___________
Jeffrey S. Frichner, President Date
