AMENDMENT NO. 1 TO SEVERANCE AGREEMENT (NON-CHANGE IN CONTROL)
Exhibit 10.74
AMENDMENT NO. 1
TO
This Amendment No. 1 to Severance Agreement (Non-Change in Control) dated as of and effective
January 25, 2010 (the “Amendment”), is by and between (the “Employer”), and
(the “Executive”).
WHEREAS, the Employer and the Executive are parties to a Severance Agreement (Non-Change in
Control) dated as of and effective December 18, 2009 (the “Agreement”);
WHEREAS, the Employer and the Executive wish to enter into this Amendment in order to (i) delete
the restrictive covenant regarding competition contained in the Agreement and (ii) modify the
restrictive covenant regarding non-solicitation contained in the Agreement, in order to better
reflect the intention of the parties;
NOW THEREFORE, in consideration of the premises and the mutual covenants herein contained, the
Employer and the Executive hereby agree as follows:
| 1. | Amendment to Section 6.2, Non-Solicitation. Section 6.2 of the Agreement is hereby amended in its entirety so as to read as follows: | ||
| “6.2 Non-Solicitation. The Executive agrees that during the Executive’s employment and at all times thereafter during the Severance Period, the Executive will not, directly or indirectly, individually or on behalf of any other person, firm, corporation or other entity, knowingly solicit, aid or induce any employee of the Employer to leave such employment in order to accept employment with or render services to or with any other person, firm, corporation or other entity unaffiliated with the Employer or knowingly take any action to materially assist or aid any other person, firm, corporation or other entity in identifying or hiring any such employee.” |
| 2. | Amendment to Section 6.4, Competition. Section 6.4 of the Agreement is hereby amended in its entirety so as to read as follows: | ||
| “6.4 [Intentionally Deleted]” | |||
| 3. | No Other Amendments. Except as expressly amended hereby, the Agreement remains in full force and effect. |
| [NAME OF EMPLOYER] | EXECUTIVE | |||||||||
By:
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By: | |||||||||
Name:
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Name: | |||||||||
Title:
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Address: | |||||||||
