EXHIBIT 10.15
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment, dated as of May 15, 1997, amends that
certain Employment Agreement (the "Employment Agreement") dated
as of April 27, 1995, as amended, by and between Spectrum
Information Technologies, Inc. ("Employer") and Xxxxx Xxxxxx
("Employee").
Employer retains the right to discharge Employee for any
reason or without reason. Employer agrees, however, that if it
discharges Employee for any reason other than just cause,
Employee shall be entitled to a severance benefit equal to twelve
(12) month's base salary and participation in Employer's
Executive Medical Plan for twelve (12) months; provided, however,
that such participation in the Employer's Executive Medical Plan
shall not be deemed a waiver of Employee's right to continue to
receive benefits under any group health care insurance plan, at
Employee's expense, to the extent required by the Consolidated
Omnibus Budget Reconciliation Act of 1985. For the purposes of
this Amendment, "just cause" shall be defined as dishonesty,
willful misconduct, gross negligence or intentional failure by
Employee to discharge fully and faithfully and to the best of his
ability the duty imposed on him. Employee's benefits pursuant to
this paragraph are and shall be payable immediately upon such
discharge without just cause.
All other terms and provisions contained in the Employment
Agreement shall remain in effect.
Spectrum Information Technologies, Inc.
/s/Xxxxxx X. Xxxxxxx
--------------------------------
By: Xxxxxx X. Xxxxxxx
Its: Chairman and Chief Executive Officer
/s/ Xxxxx X. Xxxxxx
--------------------------------
Xxxxx X. Xxxxxx
