Amendment to Employment Agreement between Awesome Living, Inc. and Fred E. Tannous

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between Awesome Living, Inc. and Fred E. Tannous. It appoints Mr. Tannous as Chief Executive Officer, sets his employment term to five years from the amendment date, and grants him 4,000,000 restricted shares of company stock valued at $100,000 as a bonus for accepting the CEO position. The agreement is effective as of March 15, 2011, and is signed by both parties.

Read More Arrow
EX-10.5 7 v229290_ex10-5.htm Unassociated Document
AMENDMENT TO EMPLOYMENT AGREEMENT


This Amendment, entered into on March 15, 2011, hereby amends certain sections of the Employment Agreement dated as of September 13, 2010 by and between Fred E. Tannous (the “Executive”) and AWESOME LIVING, INC., a Nevada corporation (the “Company”), modifies the original Employment Agreement as follows:

 
1.  
The title of the Executive shall be Chief Executive Officer of the Company.

 
2.  
Term of Employment.  Subject to the provisions of Section 6, the term of Executive’s employment pursuant to this Agreement shall commence on and as of the date hereof and shall terminate on the fifth (5th) anniversary of the date of this Amendment.
 
 
4.
Salary and Bonus.
 
b) 
Bonus.
Added. As inducement for accepting the position of Chief Executive Officer, the Executive shall receive an additional stock grant of 4,000,000 restricted shares of the Company’s common stock valued at $100,000.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.


AWESOME LIVING, INC.


By:  /s/ Bill Glaser
Name: Bill Glaser
Title: President


/s/ Fred E. Tannous
Fred E. Tannous