EXHIBIT 10.2 AMENDMENT NO. 1 DATED AS OF AUGUST 14, 2006 TO THE EMPLOYMENT
AGREEMENT
AMENDMENT NO. 1 (this Amendment) dated as of August 14, 2006 to the Employment
Agreement dated as of July 01, 2006, by and between ▇▇▇▇▇ ▇▇▇▇▇ and Euroweb
International Corp. (the "Company") and/or its subsidiary.
WHEREAS:
The parties wish to amend certain terms of the Employment Agreement.
Now, therefore, in consideration of and subject to the premises and the mutual
agreements, terms and conditions herein contained, the benefits to be derived
therefrom and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:
1. Definitions.
Capitalized terms used herein and not defined shall have the meanings
ascribed thereto in the Employment Agreement.
2. Term, Title, and Duties
In addition to the appointment for five years of ▇▇▇▇▇ ▇▇▇▇▇ as the
President of Euroweb RE Corp., a subsidiary of the Company ("ERC"), as
described in the Employment Agreement, the Company enters into a two year
employment agreement commencing August 14, 2006 with ▇▇▇▇▇ ▇▇▇▇▇ as Chief
Executive Officer of the Company.
3. Salary
Effective ▇▇▇▇▇▇ ▇▇, ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ shall be paid at the annualized
salary rate of at least $250,000 to be paid in the form of Company shares
of common stock. The number of shares to be received by ▇▇▇▇▇ ▇▇▇▇▇ is
calculated based on the average closing price 10 days prior to the
commencement of each employment year. All other compensation terms
described in the Employment Agreement shall remain in full force and
effect in accordance with its terms, including but not limited to, Annual
and Special Bonuses, Benefits, and Benefits upon Termination.
4. General.
Except as amended hereby, the Employment Agreement continues to be, and
shall remain, in full force and effect in accordance with its terms.
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IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of
the date and year first above written
EUROWEB INTERNATIONAL CORP.
Dated: August 14, 2006 By /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Its: President
▇▇▇▇▇ ▇▇▇▇▇
Dated: August 14, 2006 By /s/ ▇▇▇▇▇ ▇▇▇▇▇
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▇▇▇▇▇ ▇▇▇▇▇
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