ADDENDUM A TO EMPLOYMENT AGREEMENT
EXHIBIT 10.23
ADDENDUM A TO EMPLOYMENT AGREEMENT
This addendum is made on February 10, 2003 by and between QUANTUM Fuel Systems Technologies Worldwide, Inc. (herein “QUANTUM”) and Xxxx Xxxxxxxxxxx (herein “Employee”). For mutual and adequate exchange of consideration, the parties mutually agree to modify Employee’s Employment Agreement of August 1, 2002, as follows, effective February 10, 2003.
Section 2 of the above referenced Employment Agreement is hereby modified via incorporating the following additional language.
“2.1 (a) Effective February 10, 2003, Employee’s base salary is increased to $320,000 per year.”
/s/ | Xxxx Xxxxxxxxxxx |
/s/ | Xxxxx Xxxxx | |||||
Xxxx Xxxxxxxxxxx | Xxxxx Xxxxx Chief Financial Officer | |||||||
Dated: Feb. 10, 2003 | ||||||||
QUANTUM Fuel Systems Technologies Worldwide, Inc. | ||||||||
Dated: Feb. 10, 2003 |