EXHIBIT 99.1
AMENDMENT TO EMPLOYMENT AGREEMENT
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THIS AMENDMENT (the "Amendment") to that certain Employment Agreement dated
as of June 24, 2004 (the "Agreement") is made and entered into as of the 8th day
of August, 2006 by and between Concurrent Computer Corporation (the "Company")
and T. Xxxx Xxxxx (the "Employee").
WHEREAS, the Company, through its Board of Directors, and the Employee,
desire to amend the terms and conditions set forth in the Agreement to define
the payments to be made to the employee upon termination of employment;
NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein, and for other good and valuable consideration, the parties
agree as follows:
1. Amendment
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a. The entire third paragraph of Section 5.4 regarding benefit
coverage following termination is replaced with the following
paragraph:
During the period beginning with the Employee's termination and
continuing through which time the employee reaches age 65, the
Company will use its reasonable best efforts to continue the
Employee's eligibility under its group life insurance,
hospitalization, medical and dental plans ("Benefits"). To the
extent Employee is not eligible under the terms of one or more of
such plans and programs, the Company will provide the Employee
with the Economic Equivalent for the period through the employee
reaching age 65. For the purpose of this paragraph, "Economic
Equivalent" shall mean the amount the Company would have paid for
such coverage for each employee covered if the Company could
purchase such coverage or add the Employee to the Company's
plans. In order to obtain the Benefits, the Employee will have to
pay the amount that would be the Employee's responsibility if he
was still employed. The amount paid to the Employee as the
Economic Equivalent, less the amount of the premium payment which
is the Employee's responsibility in accordance with the Company
benefit plan, will be "grossed-up", if taxable (that is, the
amount necessary to make the Employee whole after taking into
account (i) the cost of the benefit and (ii) additional income
taxes, if any, incurred by the Employee on amounts paid to him
pursuant to this paragraph). Should the Employee find employment
with another employer ("New Employer") that typically provides
Benefits to its employees, the Company will cease providing
Benefits or the Economic Equivalent. If the Employee ceases
employment with the New Employer and has no Benefits or Economic
Equivalent from the New Employer, the Employee must immediately
notify the Company and the Company shall again provide Benefits
or the Economic Equivalent until the Employee reaches age 65.
2. Miscellaneous
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a. This Amendment shall be construed in accordance with the laws of
the State of Georgia.
b. Except as amended hereby, the terms and conditions of the
Agreement shall remain in effect.
IN WITNESS WHEREOF, the Company and the Employee have caused this
Amendment to be executed as of the date first above written.
CONCURRENT COMPUTER CORPORATION EMPLOYEE
By: By:
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Xxxxxxx Xxxxxxxx
Director
Chairman, Compensation Committee
