EXHIBIT 10.18
Greenwich Technology Partners, Inc.
00 Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxxxxx 00000
December 1, 1998
Xx. Xxxxxx X. Xxxxx
000 Xxx Xxxx Xxxx Xxxxx
Xxxxxxxxxxxxx, Xxx Xxxx 00000
Dear Xx. Xxxxx:
Pursuant to our letter of agreement dated December 1, 1998, the following
modifications are made by our mutual consent to that letter agreement between
us:
1. Severance: Upon termination for reasons other than Cause (as defined in
such letter agreement), you will be receive three (3) months salary and
benefits.
2. Additional Options: At each of the first three (3) anniversary dates of
your employment, you are eligible to receive incentive stock options to
purchase 33,333 shares (an aggregate of 100,000 shares over the three year
period). These additional options will vest immediately upon grant and
will have an exercise price per share of $.30. These additional options
will be granted based upon the achievement of certain objectives contained
on the attached Schedule A, hereto. It is understood that these options
will be subject to the approval of the Board of Directors and an Option
Agreement between the Company and you.
These provisions are in addition to the terms and conditions our letter
agreement dated December 1, 1998 and pursuant to the terms of that letter
agreement the foregoing provisions are hereby incorporated therein.
Sincerely,
Greenwich Technology Partners, Inc.
By: /s/ Xxxxxx Xxxxxxxx
-----------------------
Xxxxxx X. Xxxxxxxx
Chief Executive Officer
I have carefully read the above provisions and acknowledge and accept them as
terms and conditions to our letter agreement dated December 1, 1998.
/s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
