EXHIBIT 10.4
[LOGO OF COTAG INTERNATIONAL LIMITED APPEARS HERE]
COTAG INTERNATIONAL LIMITED
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Reg No. 1710122 VAT:GB 388 851296
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Reference is made to that certain Employment Agreement, entered into on
January 25, 1995 (the "Employment Agreement"), between Cotag International
Limited, a company organized under the laws of England (the "Company"), and
▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ("Employee").
Employee and Company desire to amend the Employment Agreement, as follows:
1. Paragraph 4 of the Employment Agreement is hereby amended by substituting
"(Pounds)115,000" for "(Pounds)95,000" wherever it appears in such Paragraph.
2. Paragraph 3 of the Employment Agreement is hereby amended in its entirety
to read as follows:
"3. Position and Duties. The Company shall engage Employee, and Employee
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shall serve, as Chairman and Chief Executive of the Company with such
duties as may be assigned to Employee from time-to-time by the
President and Chief Executive Officer of Amtech Corporation, the
Company's parent corporation organized under the laws of the State of
Texas (hereinafter referred to as the "Amtech CEO"). Employee shall
also serve in such officer capacities with such Affiliates of the
Company as may be designated, in each case, from time-to-time by the
Amtech CEO. Employee shall devote substantially all of his working
time and efforts to the business and affairs of the Company and the
Employee's responsibilities vis-a-vis such Affiliates of the Company
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as have been designated by the Amtech CEO. The location of Employee's
principal place of employment shall be ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇.
3. The second paragraph of Paragraph 4 is hereby amended in its entirely to
read as follows:
"During the Primary Term, the Employee will receive on each of February 1,
1996, and February 1, 1997, a minimum percentage increase in Base Salary
equal to the percentage increase in the United Kingdom retail price index
for the twelve months ended on February 1, 1996, and February 1, 1997, as
applicable. However, no such increase in Base Salary shall be given to the
Employee until the cumulative amounts that the Employee would be entitled
to receive under the provisions of the preceding sentence exceed
(Pounds)20,000."
4. Other than as set forth herein the Employment Agreement remains in full
force and effect as written.
The parties have executed this First Amendment to be effective as of August
1, 1995.
COTAG INTERNATIONAL LIMITED
By: /s/ G. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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G. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
Date: October 5, 1995
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EMPLOYEE:
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Date: October 5, 1995
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