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Exhibit 10.34
AMENDMENT TO EMPLOYMENT
AGREEMENT
This Amendment
to Employment Agreement (“Amendment”) is
entered into effective this 1st day of May, 2009, by and between
XELR8, Inc. (the “Company”) and John D.
Pougnet (“Employee”).
RECITALS
A. The Company and
Employee are parties to that certain Employment Agreement dated
effective February 1, 2008 (the “Employment
Agreement”).
B. The Company and
Employee desire to amend the compensation to be paid under the
Employment Agreement.
AGREEMENT
Now, therefore,
for good and valuable consideration, the receipt, adequacy and
sufficiency of which are hereby acknowledged, and with the intent
to be legally bound, the parties agree as follows:
I.
Definitions . All capitalized terms used
herein will have the same meaning ascribed to them in the
Employment Agreement unless a different definition is given to a
term herein.
II.
Base Salary . Section 3(A) of the
Employment Agreement is deleted in its entirety, with the following
substituted in its place:
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