Exhibit 10.47
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SCHEDULE ADDENDUM
Pursuant to the General Instructions to Item 601 of Regulation SK of the
Securities Act of 1933, as amended, the Company's Executive Employment
Agreements (the, "Executive Agreements") entered into by certain of the
Company's executive employees, the form of which is substantially identical as
to each such executive in all material respects, except as to the parties
thereto, executive position, compensation, and certain additional terms, the
Company has filed only one copy of such document (the "Form of Executive
Agreement"), with an attached schedule identifying the material details in which
such documents differ from the form. The Form of Executive Agreement was filed
with the Commission as Exhibit 10.33 to the Company's Form 10-Q for the
quarterly period ended September 30, 1997 and is herein incorporated by
reference thereto.
The Schedule to Exhibit 10.33 is hereby updated with respect to the following
employees who have entered into Executive Agreements with the Company:
Employee,
Executive Position and
Annual Compensation Additional Terms
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Xxxx X. Xxxxx Reimbursement of Relocation Expenses
Vice President, Finance and
Administration, Chief Financial
Officer, $151,000
Xxxxx X. Xxxxxx
Vice President, General Counsel and
Secretary, $150,000
Xxxx Xxxxxxx One time bonus of 25% of base salary after first year;
Vice President Israel Operations of Grant of 20,000 stock options;
NSI, and General Manager of NSI Additional and substitute Company benefits provided in
Israel, Ltd., $125,000 Israel: Managers Insurance, Sick Leave and Disability
Insurance, Xxxxx Xxxxxxxxxx Fund, Telephone
Reimbursement, Company Car, Contribution Adjustments.
Non-Duplication of Benefits provisions
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Xxx Xxxx One time bonus of 25% of base salary after first year;
Vice President Manufacturing and Grant of 20,000 stock options;
Field Operations of NSI, Vice Additional and substitute Company benefits provided in
President Manufacturing NSI Israel: Managers Insurance, Sick Leave and Disability
Israel, Ltd., $125,000 Insurance, Xxxxx Xxxxxxxxxx Fund, Telephone
Reimbursement, Company Car, Contribution Adjustments.
Non-Duplication of Benefits provisions
2
