EXHIBIT 10.23
AMENDMENT TO
EMPLOYMENT AGREEMENT
BETWEEN METRO TRAFFIC CONTROL, INC. AND XXXX X. XXXXXXX
The following, upon execution by the parties hereto shall constitute an
amendment to the Employment Agreement entered into by and between Metro Traffic
Control, Inc. (the "Company") and Xxxx Xxxxxxx ("Employee"), dated July, 1996
(the Agreement").
1. Section 4(a) of the Agreement relating to Base Salary (as defined in the
Agreement) shall be amended and restated as follows:
"(A) BASE SALARY. For the services to be rendered by Employee during
Employee's employment by the Company, the Company shall pay Employee, and
Employee agrees to accept, a monthly base salary (the "Base Salary") of NINE
THOUSAND SEVEN HUNDRED and NINETY ONE Dollars and SIXTY-SEVEN Cents ($9,791.67).
Commencing July 1, 1997, such monthly Base Salary shall increase to TWELVE
THOUSAND FIVE HUNDRED Dollars and NO Cents ($12,500.00). Commencing January 1,
1998, such monthly Base Salary shall increase to FIFTEEN THOUSAND FOUR HUNDRED
AND SIXTEEN Dollars and SIXTY-SEVEN Cents ($15,416.67). Employee's Base Salary
shall be payable semi-monthly in arrears on the tenth day and on the twenty-
fifth day of each calendar month or such other date in conformity with the
Company's payroll policies in effect from time to time. The Base Salary shall
increase five (5%) percent each year during the Term on the anniversary of the
closing of the Public Offering. Such increase shall be based upon the current
Base Salary on such anniversary dates."
2. All other provisions of the Agreement shall remain unmodified and in full
force and effect.
IN WITNESS WHEREOF, this Amendment is EXECUTED as of the 1st day of July, 1997.
METRO TRAFFIC CONTROL, INC. EMPLOYEE
BY: /S/ XXXXX X. XXXXXXXXXX /S/ XXXX XXXXXXX
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NAME: XXXX XXXXXXX
TITLE:
