Exhibit 10.14B
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
The EMPLOYMENT AGREEMENT, dated May 1, 1995, as heretofore amended (the
"Employment Agreement"), by and between Level 8 Systems, Inc., a New York
corporation (formerly, Across Data Systems, Inc.) (the "Company"), and Xxxx
Xxxxxx ("Executive"), is hereby amended by replacing paragraph 3.2 with the
following:
(3.2) Performance Bonus. The Board of Directors will establish a performance
bonus for the Executive each fiscal year after 1996 based on the then
current scope of responsibilities of the Executive and on the projected
budget of the Company. The 1996 performance bonus will be $150,000 if
the Company completes a public offering of at least $5 million during
1996. Notwithstanding the foregoing, in the event such bonus or any
portion thereof shall at any time be determined to reduce the net income
or increase the net loss of the Company for any period, Executive agrees
to waive such bonus or such portion thereof and the Company shall have no
liability therefor. In any event, such bonus shall not be paid prior to
January 1, 1997, and shall be paid only following (i) a determination by
the auditors of the Company and the Audit Committee of the Board of
Directors of the Company that such bonus shall not so affect net income
or net loss and (ii) consultation with Hampshire Securities Corporation
with such auditors and such Audit Committee.
WITNESS THE EXECUTION AND DELIVERY HEREOF as of December 1, 1996.
XXXXX 0 SYSTEMS, INC.
By: __________________________________
Xxxxxx X. XxxXxxxxx
Chairman of the Board of Directors
EXECUTIVE
______________________________________
Xxxx Xxxxxx
