altn_ex104.htm

EXHIBIT 10.4
  
FIRST AMENDMENT 
TO THE
PROFESSIONAL CONSULTING AGREEMENT
 
This FIRST AMENDMENT is to modify, delete and add certain terms and conditions to that certain Professional Consulting Agreement by and between Roberto Forlani and Power Clouds Inc., a Nevada corporation (“PWCL”) signed by both parties on November 12, 2015, with an effective date of January 1, 2016, and subsequently assigned on December 30, 2016 to TELENERGIA EUROPE SRL, a ROMANIAN corporation with registered address of Strada Madrigalului 42A, Apartment 4, 2nd room (“TES”) (the “Agreement”).
 
Unless otherwise indicated, terms used herein that are defined in the Agreement shall have the same meanings herein as in the Agreement.
 
The parties hereto agree as follows:
 
1. Immediately effective upon the full execution of this Amendment, Roberto Forlani shall be appointed as the Company’s Chief Technology Officer and shall resign as the Company’s Chief Executive Officer. 
 
2. In accordance with the above, Section 2.1 of the Agreement shall be modified so that it reads as follows:
 
2.1 Consulting Services. TES shall designate Roberto Forlani as the individual of TES to have the title, duties and responsibilities of the Chief Technology Officer of the Company (“Executive”). Executive shall have such powers and active management over the property, business, and affairs of the Company as is consistent with the office of the Chief Technology Officer of a public company, all subject to the direction of the Company’s Chief Executive Officer and the Board of Directors. Executive shall perform faithfully and diligently all of his duties as Chief Technology Officer and shall execute a Confidentiality Agreement, attached hereto and incorporated herein as Exhibit A. The Company’s Board of Directors shall use its best efforts to have Executive remain as a member of the Board of Directors during the Term of this Agreement.
 
3. On December 31, 2016 any and all warrants issued pursuant to Section 4.3 of the Agreement were previously agreed by the parties to be terminated and cancelled, effective as of December 31, 2016. Additionally, any and all warrants to be issued pursuant to Section 4.3 of the Agreement are hereby also terminated and cancelled, both vested and unvested, conditional and unconditional, contingent and un-contingent, and therefore Section 4.3 of the Agreement is hereby deleted in its entirety and of no further force or effect.
 
Except as herein modified, all the terms and conditions of the above referenced Agreement shall remain in full force and effect. In the event of any conflict between this First Amendment and the Agreement, the provisions of this First Amendment shall prevail.
 
The parties hereby agree that signatures transmitted and received via facsimile or other electronic means shall be treated for all purposes of this First Amendment as original signatures and shall be deemed valid, binding and enforceable by and against both parties.
 
First Amendment
Professional Consulting Agreement
 
Initials: _______
Power Clouds Initials: ______
 
	 
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BOTH PARTIES HERETO REPRESENT THAT THEY HAVE READ THIS FIRST AMENDMENT, UNDERSTAND IT, AGREE TO BE BOUND BY ALL TERMS AND CONDITIONS STATED HEREIN, AND ACKNOWLEDGE RECEIPT OF A SIGNED, TRUE AND EXACT COPY OF THIS AMENDMENT.
 
IN WITNESS WHEREOF, the parties hereto have agreed to amend the terms and conditions of the First Amendment.
 
	 	POWER CLOUDS INC.	
	 	 	 	 
		By:	/s/ Vincent Browne	
	 
	Name: 
	Vincent Browne
	 
	 	Its: 	Chief Financial Officer
	 
	 
	Date:
	September 29, 2017 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	TELENERGIA EUROPE SRL
	 

	 
	 
	 
	 

	 
	By: 
	/s/ Francesco Messina
	 

	 
	Name: 
	Francesco Messina
	 

	 
	Its: 
	Sole Director
	 

	 
	Date: 
	September 29, 2017
	 



 
First Amendment
Professional Consulting Agreement
 
	 
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