Exhibit 10.5
Wire One Technologies, Inc.
000 Xxxx Xxxxxx
Xxxxxxxx, Xxx Xxxxxx 00000
As of January 1, 2003
Xx. Xxxxxxxxxxx Xxxxxxx
c/o Wire One Technologies, Inc.
00 Xxxxxxxx Xxxx
Xxxxxxx, XX 00000
Dear Xxxxx:
This letter, when accepted by you, shall constitute an amendment to the
employment agreement (the "Agreement"), dated January 2, 2001, as amended to
date, between Wire One Technologies, Inc. (the "Company") and you. The Company
and you hereby agree as follows:
1. The Company has requested that, to contribute to an improvement in
the Company's financial condition and for no other reason, you agree, as an
amendment to paragraph 2(a) of the Agreement, to reduce your base salary
compensation thereunder so as to be payable at the rate of $190,000 per annum
during the period commencing as of the date hereof through December 31, 2003. In
consideration of the agreement by several other of the Company's executives to
salary reductions similar in nature, you hereby agree to the salary reduction
set forth in the preceding sentence.
2. Except as modified hereby, the Agreement remains in full force and
effect.
Yours very truly,
WIRE ONE TECHNOLOGIES, INC.
By: /s/
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ACCEPTED:
/s/
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Xxxxxxxxxxx Xxxxxxx
