EXHIBIT 10.11
LETTER AGREEMENT
December 2, 1997
Xx. Xxxxx X. Xxxxxxxx
President and Chief Executive Officer
ClientLink, Inc.
0000 Xxxxxxxx Xxxxx, Xxxxx 000
Xxxxxxxxxx, Xxxxxxx 00000
Re: Modification of Employment Agreement
Dear Xxx:
Reference is made to the Employment Agreement made March 25, 1994, as
amended, between you and ClientLink, Inc. One provision of that agreement
provides to you a one-time right to receive up to an additional ten percent of
the then outstanding capitalization of the Company. This letter is to confirm
and memorialize the understanding and agreement reached between you and
ClientLink by which you have fully released your right to the above-mentioned
ten percent equity interest in consideration of the Company's agreement to pay
you cash in the amount of $1.2 million. By your execution of this letter at the
place provided below, you will confirm that this is the agreement we have
reached, and that you fully release, in consideration of such cash payment, all
claims to any further equity interest in the Company arising by reason of the
Employment Agreement. This release is not intended to address or affect any
stock options granted by the Company that you now hold.
Sincerely,
CLIENTLINK, INC.
By: /s/ Xxxxxx X. Xxxxxxxx
--------------------------------
Xxxxxx X. Xxxxxxxx
Chairman of the Board
Agreed and Acknowledged:
/s/ Xxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxxxx
