EXHIBIT 10
AMENDMENT NO. 1 TO SEPARATION AGREEMENT
AND RELEASE AND WAIVER OF CLAIMS
This Amendment No. 1 to the Separation Agreement and Release and Waiver of
Claims (the "Agreement") dated as of May 31, 1997, by and between Banyan Systems
Incorporated, a Massachusetts corporation ("Banyan") and Xxxxx X. Xxxxxxx (the
"Undersigned"), is entered into as of September 21, 1998.
For good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by the parties hereto, Banyan and the Undersigned agree
as follows:
1. The Stock Option to purchase 50,000 shares of Common Stock of Banyan
(originally granted on January 1, 1991), which is referenced in
Section 3(b) of Exhibit A to the Agreement, may be exercised by the
Undersigned through the period ending on April 1, 1999.
2. All other provisions of the Agreement shall remain unchanged and in
full force and effect in accordance with their terms.
Executed by the parties hereto as of the date first set forth above.
BANYAN SYSTEMS INCORPORATED
By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
Title: Chairman and Chief Executive Officer
/s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
