FIRST AMENDMENT TO
This First Amendment (the "Amendment") to the Employment Agreement referenced below by and
between Vibe Records Inc. Nevada (the "Company"), and Timothy J. Olphie, an executive (the "Executive")
(together the "Parties") is made and entered into effective as of August 2, 2010 (the "Effective Date").
WHEREAS , the Parties had entered into an Employment Agreement on January 26, 2009 (the
"Original Agreement"); and
WHEREAS , the Parties now wish to amend the Original Agreement to make such changes as are
specifically covered herein.
NOW, THEREFORE , for good and valuable consideration, and in consideration of the mutual
covenants and conditions herein set forth, the receipt and sufficiency of which is hereby acknowledged, the
Parties agree as follows:
1. Section 4(a) is hereby deleted and revised to read in its entirety as follows:
Base Salary. The Company will pay salary to Executive at an annual rate of $125,000, in accordance
with its regular payroll practices. The Board will review Executive’s salary at least annually. The
Board, acting in its discretion, may increase (but may not decrease) the annual rate of Executive’s
salary in effect at any time.
2. Except as set forth in this Amendment, the Original Agreement shall remain in full force and effect and
references in the Original Agreement to "this Agreement", "hereunder", "herein", "hereof", and words of like effect
shall mean the Original Agreement as so amended by this Amendment.
3. This Amendment may be executed in one or more counterparts and/or by facsimile, each of which
shall be deemed an original and all of which signed counterparts, taken together, shall constitute one instrument.
IN WITNESS WHEREOF , the Parties have executed this Amendment as of the Effective Date
VIBE RECORDS, INC. NEVADA