PC GROUP, INC.
000
Xxxx Xxxxxx Xxxxx
Xxx
Xxxx, XX 00000
August 5,
2009
Xx. X.
Xxxx Xxxxxxx
President
and Chief Executive Officer
000 Xxxx
Xxxxxx Xxxxx
Xxx Xxxx,
XX 00000
Dear
Xxxx:
In recognition of your agreement to
forego $200,000 of the $300,000 base compensation for fiscal year 2009 to which
you are entitled under your Employment Agreement, dated as of October 1, 2007
(the “Employment Agreement”), between you and PC Group, Inc. (the “Company”),
this letter confirms the Company’s agreement to waive for 2009 the requirement
of Section 2(a) of the Employment Agreement that you devote your “full business
time and energies to the business and affairs of the
Company”. Instead, during 2009, you agree to devote such business
time and energies to the business and affairs of the Company as the Company and
you shall agree upon, from time to time, as necessary and
appropriate. In all other respects, the Employment Agreement shall
remain in full force and effect. This letter is made and executed and
shall be governed by the laws of the State of New York, without regard to the
conflicts of laws principles thereof.
Sincerely,
By: /s/ Xxxxxxxx X. Xxxxx
Xxxxxxxx X. Xxxxx
Vice President, Chief Operating Officer
and Chief Financial Officer
Xxxxxxxx X. Xxxxx
Vice President, Chief Operating Officer
and Chief Financial Officer
AGREED
AND ACCEPTED:
By: /s/ W. Xxxx Xxxxxxx
W.
Xxxx Xxxxxxx
DATE:
August 5, 2009
