EXHIBIT 10.1
AMENDMENT NO. 1
TO
EXECUTIVE EMPLOYMENT AGREEMENT
This
Amendment No. 1 to Executive Employment Agreement (this “
Amendment ”), is entered into as of this 6th
day of August, 2009 (the “ Effective Date
”), by and between TALON INTERNATIONAL, INC., a Delaware
corporation (the “ Company ”) and LONNIE
D. SCHNELL (“ Executive ”).
RECITALS
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A.
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On June
18, 2008, the Company and Executive entered into an Executive
Employment Agreement (the “Agreement ”)
pursuant to which the Company retained the services of
Executive.
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B.
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The parties
desire to amend Exhibit A of the Agreement as set forth
herein.
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AGREEMENT
NOW,
THEREFORE, in consideration of the premises and the mutual
agreements, representations and undertakings this Agreement
contains, the parties hereto hereby agree as follows:
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1.
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Certain
Definitions . Capitalized
terms used but not defined herein have the respective meanings
assigned to them in the Agreement.
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2.
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Amendment to
Agreement . The Agreement
is hereby amended as set forth in paragraph (a) below. Except as
specifically amended hereby, the other terms and conditions in the
Agreement shall continue in full force and effect, notwithstanding
the execution and delivery of this Amendment. After the date
hereof, any reference to the Agreement shall mean the Agreement as
amended by this Amendment, and as used in the Agreement, the terms
“Agreement,” “this Agreement,”
“herein,” “hereinafter,”
“hereto,” “hereof” and words of similar
import shall, unless the context otherwise requires, mean the
Agreement as amended by this Amendment.
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(a)
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Effective for
all periods commencing from and after January 1, 2009, Exhibit A of
the Agreement is hereby amended in its entirety to read as set
forth on Exhibit A attached hereto.
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3.
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Governing
Law . THIS AMENDMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF CALIFORNIA, WITHOUT REGARD TO CONFLICTS OF LAW
PRINCIPLES THEREOF.
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4.
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Counterparts . This Amendment may be executed in any number
of counterparts, each of which shall be deemed to be an original,
but all of which together shall constitute one and the same
instrument.
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(Signatures on Following Page)
IN
WITNESS WHEREOF, the parties have executed this Amendment as of the
date first set forth above.
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Company:
TALON INTERNATIONAL, INC.
By: /s/ Ray
Musci
Ray
Musci
&n
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