MORGAN BEAUMONT, INC.
AMENDED EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (hereinafter "Agreement") made and entered into effective as at the
1st day of October, 2005, by and between MORGAN BEAUMONT INC., a Florida Corporation
(hereinafter referred to as the "Company") and CLIFFORD WILDES, a Florida resident (hereinafter referred
to as the "Executive").
W I T N E S S E T H:
WHEREAS , Company is engaged in the operation, management and sales of products and services;
WHEREAS , the parties are desirous of entering into an Employment Agreement to replace the agreement
between the parties dated April 1, 2004: and
NOW, THEREFORE , in consideration of the mutual promises contained herein, and for other good and
valuable consideration the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as
The foregoing recitals are true and correct in every respect and are incorporated by reference herein.
DUTIES AND DEVOTION OF EFFORTS
a. "Board" shall refer to the Board of Directors of Company.
b. "Disability" or "Disabled" shall mean a physical or mental impairment that prevents
Executive from performing the essential functions of his job on a permanent basis.
c. “Gross Revenue” shall mean all income of Company derived from the sale of goods or
services, less refunds or returns, for any fiscal year of Company.
d. “Margin” shall be defined as Profit expressed as a percentage of Gross Revenue.
e. “Option” shall mean a written document authorizing the purchase of stock of Company,
at a specified price, for a defined period of time.
f. “Profit” shall mean net profits, after all business expenses have been deducted (including
salaries and benefits), before taxes, for any fiscal year of Company.
a. Duties . Company hereby employs Executive as the Chief Executive Officer (hereinafter
referred to as “CEO”). As CEO, Execu