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EXHIBIT 10.4
FIRST MODIFICATION TO EMPLOYMENT AGREEMENT
This First Modification to Employment Agreement (this "Agreement") is
made and entered into effective as of November 1, 1999, by and between SCB
Computer Technology, Inc., a Tennessee corporation (the "Company"), and Xxx X.
Xxxxxx, Xx. (the "Executive").
WHEREAS, the Executive is currently employed by the Company pursuant to
the terms of an Employment Agreement dated as of November 1, 1998 (the
"Employment Agreement"); and
WHEREAS, the Company and the Executive desire to modify the Employment
Agreement as set forth herein.
NOW, THEREFORE, in consideration of the premises hereof and of the
mutual promises and agreements contained herein, the parties hereto, intending
to be legally bound, hereby agree as follows:
1. Section 3.a of the Employment Agreement is amended to read as
follows:
a. Base Salary. The Executive shall receive a base salary at
the rate of $425,000.00 per annum during the first year of this
Agreement and the first quarter of the second year of this Agreement,
$600,000.00 per annum during the second, third and fourth quarters of
the second year of this Agreement, and $743,750.00 per annum during the
third year of this Agreement and any subsequent year (as adjusted, the
"Base Salary"), payable in substantially equal periodic payments, which
shall be made no less frequently than monthly during the period of the
Executive's employment hereunder.
2. As so amended, the Employment Agreement is hereby ratified and
confirmed.
IN WITNESS WHEREOF, the parties have executed and delivered this
Agreement as of the date first written above.
SCB COMPUTER TECHNOLOGY, INC.
By: /s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
Chief Administrative Officer
/s/ Xxx X. Xxxxxx, Xx.
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Xxx X. Xxxxxx, Xx.
