Supplement to Employment Agreement between So Act Network, Inc. and John Blaisure

Contract Categories: Human Resources › Employment Agreements
Summary

This supplement amends the employment agreement between So Act Network, Inc. and John Blaisure. It requires Greg Halpern, the Chairman, to transfer 20 million shares of his personal common stock in the company to John Blaisure within 10 days of signing. However, the voting rights for these shares will remain with Mr. Halpern under a voting trust and will not transfer to Mr. Blaisure. The agreement was executed on February 4, 2011.

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EX-10.1 2 f8k020411ex10i_soact.htm SUPPLEMENT AGREEMENT f8k020411ex10i_soact.htm
Exhibit 10.1
 
SUPPLEMENT TO EMPLOYMENT AGREEMENT
 

THIS SUPPLEMENT TO EMPLOYMENT AGREEMENT, the (“Supplement”) is hereby made part of the Employment Agreement made and entered into on the 17th day of January, 2011, by and between So Act Network, Inc., a Delaware corporation with offices at 10685-B Hazelhurst Drive, #6572, Houston, TX 77045 (the “Corporation”), and John Blaisure, an individual residing at 124 Basil Street, Encinitas, CA 92024 (the “Executive”), (the “Agreement”) under the following circumstances:
 
NOW, THEREFORE, the parties mutually agree to incorporate into the Agreement the following:
 
4. Compensation of Executive.
 
 (g)     The Chairman of the Corporation, Greg Halpern, shall within 10 days of the execution of this Agreement, transfer Twenty Million Shares of his shares of common stock of the Corporation, (the “Common Shares”) to the Executive. The voting rights of the Common Shares shall remain with Mr. Halpern pursuant to the attached voting trust and shall not be transferred to Executive.
 

 
IN WITNESS WHEREOF, the Parties have executed this Supplement as of February 4, 2011.



SO ACT NETWORK, INC.


/s/ Greg Halpern_______
Greg Halpern, Chairman


EXECUTIVE


/s/ John Blaisure_______
John Blaisure