[LETTERHEAD OF eCOLLEGE.COM] March 12, 2001 Charles P. Schneider President 10200 A East Girard Avenue Denver, Colorado 80231 Re: Amendment to Employment Agreement --------------------------------- Dear Charlie: I am writing to confirm that effective October 1, 2000 your salary is $265,000, and your target bonus, subject to the discretion of the Board of Directors, is $150,000. Effective November 30, 2000, your title is President. This letter is intended to amend your Employment Agreement to reflect your new salary and/or title. The purpose of this letter is to express these changes only; no terms and conditions of your Employment Agreement, other than the terms that are expressly amended in this letter, are changed by this letter. If you have any questions regarding this matter, please do not hesitate to contact me. Please acknowledge your understanding and acceptance of this amendment to your Employment Agreement by signing below and returning this document to the General Counsel on or before March 16, 2001. Sincerely, /s/ Oakleigh Thorne Oakleigh Thorne Chief Executive Officer Acknowledged and Accepted By: /s/ Charles P. Schneider Charles P. Schneider President
Source: OneCLE Business Contracts.