EXHIBIT
10.3
AMENDMENT NO. 1 TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1
TO EMPLOYMENT AGREEMENT , dated as of August 14, 2009 (this
“ Amendment ”), by and between Mr. Robert
McCann, a resident of the State of Florida (the “
Executive ”), and Hawk Systems, Inc., a Delaware
corporation (collectively, the “ Company
”).
WHEREAS, reference is
hereby made to that certain Employment Agreement (the “
Agreement ”), dated as of May 12, 2009, by and among
the Executive and the Company.
WHEREAS, the Executive
and the Company wish to amend certain provisions of the Agreement
as set forth herein;
NOW, THEREFORE, for and
in consideration of the mutual promises and covenants other
agreements contained in this Amendment the Executive and the
Company hereby agree to amend the Agreement as follows:
1.
Defined Terms; Conflicting Documents . All
capitalized terms used but not defined herein shall have the
meaning set forth in the Agreement. In the event of any
conflict between the Agreement and this Amendment, this Amendment
shall prevail and govern.
2.
Amendment to
Section 3.2: Bonuses . Section 3.2 shall be deleted and
replaced in its entirety with the following provision:
“Executive shall
receive a bonus of $100,000 payable as follows: (i) the sum of
$50,000 paid at the closing of the first equity or debt financing
subsequent to the date of this Ame
