ADDENDUM TO EMPLOYMENT AGREEMENT
This AGREEMENT (the "Agreement"), dated as of February 26, 2008, by and between
Document Capture Technologies, Inc., a Delaware corporation with principal
executive offices at 0000 Xxxxxxxxxx Xxxxx, Xxx Xxxx, Xxxxxxxxxx 00000
(hereinafter referred to as the "Company"), and Xxxxx Xxxxx, an individual
residing at 00000 Xxxxxxxxxxx Xxxx, Xxxxxxxxxx, Xxxxxxx 00000 (hereinafter
referred to as "Employee").
W I T N E S S E T H:
WHEREAS, the Company and the Employee are parties to an Employment Agreement
dated April 26, 2005 (the "Original Agreement") and an Addendum to Employment
Agreement dated January 18, 2008 (the "Addendum" and together with the Original
Agreement, the "Employment Agreement"); and
WHEREAS, the Company desires to employ the Employee as its Chief Executive
Officer, and the Employee desires to serve the Company in that capacity, upon
the terms and subject to the conditions contained in the Employment Agreement,
as amended by this Agreement; NOW, THEREFORE, in consideration of the mutual
covenants and agreements herein contained, the parties hereto hereby agree as
follows: 1. Capitalized terms used herein but not otherwise defined herein have
the meanings ascribed to them in the Employment Agreement.
2. The Employee agrees to continue to execute his duties and responsibilities in
accordance with the terms and provisions of the Employment Agreement, subject to
the following terms and conditions as agreed upon:
(a) Effective March 1, 2008, the Company shall employ Employee as Chief
Executive Officer.
All other terms and conditions of the Employment Agreement not affected hereby
shall remain in effect as originally drafted.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first above written.
DOCUMENT CAPTURE
TECHNOLOGIES, INC. EMPLOYEE
By: /s/ Xxxxxxx Xxxxxxx /s/ Xxxxx Xxxxx
------------------- ----------------
Xxxxxxx Xxxxxxx Xxxxx Xxxxx
President and Chief Operating Officer
