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EMPLOYMENT AGREEMENT

Employment Agreement

EMPLOYMENT AGREEMENT You are currently viewing:
This Employment Agreement involves

FortuNet Inc

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Title: EMPLOYMENT AGREEMENT
Governing Law: Nevada    

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EXHIBIT 10.3

FORTUNET INC.

EXEMPT

EMPLOYMENT AGREEMENT

THIS AGREEMENT is made and entered into on the 10th day of January, 2005 by

and between FortuNet Inc. ("Company") a Nevada Corporation having a principal

place of business located at 2620 S. Highland Drive, Las Vegas, NV 89109 and

William R. Jacques, JR. an individual residing at 4525 W. Twain #179, Las Vegas,

NV 89103 ("EMPLOYEE").

WITNESSETH:

WHEREAS, Company desires to employ Employee in the position of CONTROLLER

and Employee is willing to work for Company in that position.

NOW, THEREFORE, Company and Employee, in consideration of the premises and

mutual covenants contained herein, including but not limited to the salary set

forth in paragraph 3, agree as follows:

1. Current Employment: Company agrees to employ Employee and Employee

agrees to serve Company in the position set forth above and/or to

perform such services for Company as may be assigned by Company

management or officers, in accordance with the terms herein set forth.

2. Exclusive Service and Best Efforts: Except as otherwise provided in

writing, Employee shall devote his or her full time and best efforts

to the performance of Employee's duties for Company, and shall

faithfully adhere to Company's business policies and procedures.

During the term of this Agreement, Employee shall not, at any time or

place, either directly or indirectly, provide services in Employee's

professional capacity to any extent whatsoever except under the terms

of this Agreement. All fees or other income attributable to services

by Employee in Employee's professional capacity during the term of

this Agreement shall belong to and inure to the benefit of Company.

3. Salary: Unless otherwise agreed to in writing, Company will compensate

Employee for Employee's service as follows: Company will pay Employee

an annual salary of Seventy Thousand Dollars ($70,000.00).

4. Expenses: Company shall reimburse Employee for reasonable expenses

incurred by Employee on behalf of the Company in the performance of

Employee's duties, if and to the extent approved by an appropriate

officer of Company. Employee shall furnish Company with the

appropriate documentation required by the Internal Revenue Code and

Regulations in connection with such expenses.

5. Benefits: Employee shall be entitled to participate in any employee

benefit plans which are maintained or established by Company for its

employees, the terms and duration of which shall be determined at the

discretion of the Company.

6. Vacations: Employee shall be entitled to vacation in accordance with

Company policy.

7. Termination of Employment: This Agreement may be terminated

immediately at the option of and by notice from Company or Employee.

Unless previously terminated, this Agreement shall be terminated by

Employee's death. Upon the termination of this Agreement, regardless

of the reason, all rights and obligations of Company and Employee

under this agreement shall be terminated, except that all of the

obligations of Employee set forth in paragraphs 8, 9, 10, 11, and 12

hereof shall continue in effect for their full duration, as specified

below.

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8. Nondisclosure: Employee recognizes and acknowledges that during the

course of his or her employment by Company, Employee will gain access

to confidential information of Company, and that irreparable harm to

Company would result if such confidential information came to be known

by the Competitors of Company. For the purpose of this paragraph,

confidential information is any information that the Company endeavors

to keep confidential, including but not limited to: financial,

organizational, or operational information; customer lists; marketing

plans; employee lists; trade secrets; proprietary information; or any

such information provided by a third party to Company in confidence.

In view of the above, Employee will not, at any time before or after

the termination of this Agreement, either directly or indirectly, make

known, reveal, divulge, make available, furnish or use any

confidential information of Company, except in furtherance of

Employee's duties on behalf of Company. Upon Company's demand,

Employee will provide to Company any records, including all copies, in

Employee's possession containing Company's confidential information,

or records which are the property of Company.

9. Non-competition: During the term of this Agreement and for two (2)

years thereafter, Employee shall not, without the prior writ

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