Amendment to Employment Agreement Between SGWONE Inc. and Mark V. Noffke (December 31, 2013)

Contract Categories: Human Resources › Employment Agreements
Summary

SGWONE Inc. and its Chief Financial Officer, Mark V. Noffke, have agreed to amend their original employment agreement dated August 1, 2013. This amendment, effective December 31, 2013, removes the section granting Mr. Noffke anti-dilution rights that ensured his stock ownership would remain at least 4% of the company's outstanding shares. All other terms of the original employment agreement remain unchanged and in effect.

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EX-10.6 13 sgwo_ex106.htm AMENDED EMPLOYEE AGREEMENT BY AND BETWEEN THE COMPANY AND MR. NOFFKE, DATED DECEMBER 31, 2013 sgwo_ex106.htm
Exhibit 10.6
 
EMPLOYMENT AGREEMENT AMENDMENT
SGWONE Inc.

This EMPLOYMENT AGREEMENT AMENDMENT (this Amendment) is entered into as of December 31, 2013 (the Effective Date) by and between SGWONE Inc. a Nevada corporation (the Company), and Mark V. Noffke (the Chief Financial Officer) under the following terms and conditions:
 
RECITALS:

WHEREAS, the Company and Executive desire to amend the initial Employment Agreement dated August 1, 2013.

WHEREAS, in connection with the employment of Executive by the Company, the Company desires to delete in its entirety section (3.4) Anti Dilution rights:

3.4           Anti Dilution rights. The Employee will have anti-dilution rights of 4.0%. The Employee's shares of stock in the Company will at all times represent at least 4.0% ownership position of the Company's total outstanding shares on an "as if converted" basis, and the aggregate number of shares of Stock that Employee owns shall be adjusted proportionately by the Board of Directors of the Company for any increase in the number of outstanding shares of Stock resulting from the issuance of any additional equity securities by the Company.

NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements hereinafter set forth, the parties hereto agree to delete Anti Dilution rights section 3.4 in its entirety. This Amendment, including the considerations, is an integral part of the Employment Agreement and vice versa. As far as items not expressly addressed in this Amendment the original Employment Agreement will continue in force.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date above written.

THE COMPANY:                                SGWONE Inc.


By:            Robert J. McNulty                                           
Name:       Robert J. McNulty
Its:            Chief Executive Officer

By:             Robert J. McNulty                                           
Name:       Robert J. McNulty
Its:            Chairman of the Board

By:                 Mark Noffke
Name:            Mark Noffke
Its:                 Chief Financial Officer