Exhibit 10.1


 


 


FIRST AMENDMENT TO
EXECUTIVE EMPLOYMENT AGREEMENT


 


This First Amendment to
Executive Employment Agreement (this “Amendment”),
is entered into as of February 18, 2010 (to be effective as of March 1,
2010), by and between John W. O’Neil (the “Executive”)
and Heeling Sports Limited, a Texas limited partnership (the “Company”).


 


A.                                   Executive and
Company entered into that certain Executive Employment Agreement dated as of October 28,
2008 (the “Employment Agreement”).


 


B.                                     The parties
desire to amend the Employment Agreement in the manner set forth herein.


 


NOW, THEREFORE, in
consideration of the foregoing premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:


 


1.                                       The “Base
Salary” (as defined in Section 5.1 of the Employment Agreement) of the
Executive is changed from ONE HUNDRED FORTY-FIVE THOUSAND DOLLARS ($145,000) to
ONE HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($175,000).


 


2.                                       The amount of
the “Annual Bonus” (as defined in Section 5.2 of the Employment Agreement)
that Executive will be eligible to receive is changed from up to 25% of the
Executive’s Base Salary to up to 40% of the Executive’s Base Salary.


 


3.                                       Except as
expressly amended hereby, the Employment Agreement shall remain in full force
and effect.


 


 


[signature page follows]


 


 


 

















 


 


IN WITNESS WHEREOF, the
parties hereto have executed this Amendment as of the date first above written.


 


 


 


	
   

  	
   

  	
   

  	
  COMPANY:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  HEELING SPORTS LIMITED

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  HEELING MANAGEMENT CORP., its Sole General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Lisa K. Peterson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Lisa K. Peterson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Chief Financial Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  EXECUTIVE:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  /s/ John W. O’Neil

  	
   

  
	
   

  	
   

  	
   

  	
  John W. O’Neil

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
														



 


 


 


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