Amendment, effective as of November 1, 2021, to Offer Letter between Jim S. Tsai and Snail Games USA Inc

EX-10.7 10 tm2128835d11_ex10-7.htm EXHIBIT 10.7

 

Exhibit 10.7

 

SNAIL GAMES USA, INC.
12049 Jefferson Blvd.
Culver City, CA 90230

 

November 1, 2021

  

Dear Jim,

 

On behalf of Snail Games USA, Inc., a California Corporation ("Snail Games" or the "Company"), I am excited to inform you that the Board of Directors of the Company has promoted and appointed you to be the Chief Executive Officer of Company, effective November 1, 2021. In such capacity, you will be subject to the authority of, and will report to, the Company's Board of Directors.

 

Effective November 1, 2021, the terms of your current employment with the Company, as reflected in that certain Letter Agreement dated August 31, 2020, between you and the Company, are amended as follows:

 

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

 

2.       Your annual base salary shall be Six Hundred Sixty Thousand Dollars ($660,000).

 

Except as noted above, all other terms of your employment with the Company remain unchanged.

 

If you choose to accept above, please sign a copy of this letter and return it to us at your earliest convenience.

 

Congratulations! If you have any questions regarding this offer for employment or benefits, please do not hesitate to contact me.

 

Sincerely,  
   
By: /s/ Hai Shi  
Name: Hai Shi  
Title: President and Chair of the Board  
   
ACCEPTED  
   
/s/ Jim S. Tsai  
Jim S. Tsai  
   
Dated: Dec 20 2021