EXHIBIT 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
This
Amendment to Employment Agreement (this "Agreement"), dated as
of
August 12, 2008 and effective as of March 5, 2008 (the "Amendment
Date"), is
between ESCALA GROUP, INC., a Delaware corporation (the "Company"),
and GREG
ROBERTS, an individual ("Mr. Roberts").
WHEREAS, the Company and Mr. Roberts are parties to an
Employment
Agreement, dated December 28, 2007 (the "Original Agreement"),
pursuant to which
Mr. Roberts has been employed by the Company as President of the
Company's
Numismatics and Trading Divisions.
WHEREAS, the parties desire to amend and extend the Original
Agreement.
NOW,
THEREFORE, the parties agree as follows:
1. Effective as
of the Amendment Date, the first sentence of paragraph (a) of
Section 2 of the Original Agreement is hereby amended to read as
follows:
"2. Duties. (a) During the Term, Mr. Roberts shall serve as
President
and Chief Executive Officer of the Company, as Chief Executive
Officer
of the Company's Coin Division and as Chief Executive Officer of
the
Company's Trading Division."
2. Effective as
of the Amendment Date, there shall be added new paragraph (h)
to
Section 3 ("Compensation") of the Original Agreement, reading
as
follows:
"(h) The Company shall pay to Mr. Roberts a one-time cash bonus
(the "Filing Bonus") of $100,000 promptly following the date that
the
Company becomes current in its filings under the Securities Act
of
1934, as amended (the "Securities Act")."
3. Effective as
of the Amendment Date, subparagraph (2) of paragraph (e) of
Section 4 ("Termination") of the Original Ag
