Exhibit 10.9
Form of Amendment No. 1 to
Employment Agreement
AMENDMENT NO.
1
TO EMPLOYMENT
AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT
AGREEMENT (the
"Agreement") is made and entered into as of the 29th day of
September, 2009 by and between Digital Lifestyles Group, Inc., a
Delaware corporation whose principal place of business is 649
Sparta Highway, Suite 102, Crossville, TN 38555 (the
"Corporation") and Ken Page, an individual whose mailing address is
____________________ (the "Employee").
RECITALS
WHEREAS, the Corporation and the Employee are parties to
that certain Employment Agreement dated as of September 27, 2007, a
copy of which is attached hereto as Exhibit A and
incorporated herein by such reference (the “Employment
Agreement”).
WHEREAS , the term of the Employment Agreement has
automatically renewed for an additional one year term pursuant to
the provisions of Section 2 thereof.
WHEREAS , the parties are desirous of amending certain
terms of the Employment Agreement.
NOW, THEREFORE , in consideration of the mutual agreements
herein made, the Corporation and the Employee do hereby agree as
follows:
1.
Recitals . The above recitals are true,
correct, and are herein incorporated by reference.
2
.
Adjustment in Base Salary . Section 3(a)
of the Employment Agreement is hereby amended to provide that the
Base Salary payable to the Employee shall be $4,166.67 per month
commencing upon the date hereof.
3.
Additional Compensation . Subject to continued
employment, and as additional compensation to the Employee, the
Corporation shall grant the Employee five year non-qualified
options pursuant to the Corporation’s 2009 Stock Compensation
Plan to purchase an aggregate of 120,000 shares of the
Corporation’s common stock at an exercise price of $0.25 per
share, which such options shall vest in equal monthly installments
of 10,000 options on the last date of each month commencing in
September 2009. Upon vesting, such options shall be
immediately exercisable by the Employee.
4.
No Other Amendments . Unless specifically
amended hereby, al
