EXHIBIT 10.18
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement (the "Agreement") is made
effective as of the 4th day of September, 1997 by and between Xxxxx X. Xxxx
(the "Employee") and CS Wireless Systems, Inc., a Delaware corporation having
its principal place of business at 000 Xxxxxxxx Xxxxx, Xxxxx 000, Xxxxx,
Xxxxx 00000 (the "Company").
WHEREAS, on or about April 2, 1997, Xxxx and the Company entered into
that certain Employment Agreement ("the Agreement") providing for, INTER
ALIA, the employment of Xxxx as President and Chief Executive Officer of the
Company upon the terms and conditions set forth in the Agreement.
WHEREAS, the Compensation Committee and the Board of Directors of the
Company have reviewed the Base Salary (defined in the Agreement) payable to
Xxxx pursuant to the Agreement and have resolved to increase the Base Salary.
NOW THEREFORE, in consideration of the foregoing and the mutual promises
set forth herein, the receipt and sufficiency which is hereby acknowledged,
Xxxx and the Company agree as follows:
1. ADJUSTMENT TO BASE SALARY. Section 2.(a) of the Agreement is hereby
modified to delete the existing text and substitute in lieu thereof the
following:
(a) BASE SALARY. During the Term of this Agreement (as defined below)
the Company agrees to pay Employee the base annual salary ("Base Salary") in
an amount equal to $225,000. Such Base Salary shall be reviewed no less
frequently than annually during the Term and may be increased, but not
decreased, by the Board of Directors. Such Base Salary shall be payable in
accordance with the Company's normal business practices or in such other
amounts and at such other times the parties may mutually agree.
2. ENTIRE AGREEMENT; MODIFICATION. The terms of this Amendment and the
Agreement constitute the entire Agreement between the parties regarding the
subject matter described herein and in the Agreement. No modification to the
Agreement or the Amendment shall be binding unless in writing and signed by
Xxxx and the Company.
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CS WIRELESS SYSTEMS, INC.
By : /s/ Xxxxx Xxxxxxxxxx
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Name: Xxxxx Xxxxxxxxxx
Title: Chairman
/s/ Xxxxx X. Xxxx
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XXXXX X. XXXX
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