Exhibit 10.1
May 13, 1999
Xxxxxx X. Xxxx
0000 Xxxx Xxxxxxxxx Xxxxx
Xxxxxxxxxx, Xxxxxxx 00000
Dear Xxxxxx:
This letter confirms the agreement reached by the Compensation
Committee of Arizona Instrument Corporation at its meeting of February 26, 1999.
The term of your Employment Agreement which was effective as
of January 1, 1998 has been extended until March 31, 2001.
The Employment Agreement is further modified by adding the
following clause:
In the event that the Company sells all or substantially all
of its assets or if a change in control of the Company occurs, then at the
occurrence of either event the entire base salary for the remainder of the
contract term shall become due and payable to you.
If this correctly sets forth our agreement, please sign the
enclosed copy of this letter and return it to me.
Yours truly, Accepted and Agreed
/s/S. Xxxxxx Xxxxxxx, PhD. /s/Xxxxxx X. Xxxx
-------------------------------- -------------------------
S. Xxxxxx Xxxxxxx, PhD Xxxxxx X. Xxxx
Chairman
Compensation Committee
