Employee Agreement Amendment Nicholas Eckert

EXHIBIT 10.3

EMPLOYEE AGREEMENT AMENDMENT

THIS AGREEMENT (the “Agreement”) is made and entered into on June 19, 2015 by and between Interinbox, SA, a Swiss corporation (the “Company”); and Nicholas Eckert (“Employee”).  

1.

This Agreement amends that certain Contract of Employment dated September 1, 2012 made and entered into by the parties hereto (the “Employee Agreement”). Capitalized terms herein have the same meaning as used in the Employee Agreement, unless otherwise noted.

2.

The following shall be inserted into Appendix B of the Employee Agreement, which shall read as follows:

II.

Quarterly Bonus Compensation:

Employee shall be eligible for bonus compensation that will be paid on a quarterly basis (the “Quarterly Bonus”) that will be earned and payable as follows:

The annual bonus target amount is CHF 20,000 (the Quarterly Bonus target amount is CHF 5,000), and will be based on the performance of the executive group and the individual Employee and based upon overall SMTP, Inc. performance.

The Quarterly Bonus is earned at the close of the applicable quarter and is intended to be paid shortly after SMTP, Inc reports its financials publicly each quarter.

If Employee’s employment is terminated for any reason, Employee shall be paid (a) the full Quarterly Bonus earned, as determined solely by SMTP’s Board of Directors, for the most recently completed quarter and if Employee’s employment is terminated by the Company or by mutual agreement, Employee shall be paid (b) a pro-rated Quarterly Bonus, as determined solely by SMTP’s Board of Directors, for the calendar quarter in which termination occurs.  

3.

All other provisions of the Employee Agreement remain in full force and effect, other than any provision that conflicts with the terms and spirit of this Agreement.

Signature Page Attached

IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first written above.