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EXHIBIT 10.4
SECOND MODIFICATION TO EMPLOYMENT AGREEMENT
This Second Modification to Employment Agreement (this "Agreement") is
made and entered into effective as of May 5, 2000, 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, as amended by
the First Modification to Employment Agreement dated as of November 1, 1999
(collectively, 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 per annum during the period from November 1,
1998, to January 31, 2000, the rate of $600,000 per annum during the
period from February 1, 2000, to May 4, 2000, and the rate of
$300,000 per annum from May 5, 2000, to the Expiration Date (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.
