EX-10.12
Letter Agreement
September 28, 2000
0000 Xxxxxxxxx Xxxxx Xxxxx
Xxxxx 000
Xxxxx, Xxxxxxxxxx 00000
Re: Teletrac, Inc.
Dear Xx. Xxxxxx Xxxxxxxxxxx:
Reference is made to that certain employment agreement dated as of September 29,
1999 (the "Employment Agreement") between you and Teletrac, Inc. (the "Company")
regarding the term of your employment with the Company. This will confirm our
understanding that the Employment Agreement is hereby amended as follows:
1. Section 2 is hereby deleted and the following is inserted in its place:
"2. Term of Employment. Unless earlier terminated as hereinafter
provided, the term of the Employee's employment under this Agreement
shall initially be for a period beginning on the Effective Date hereof
and ending thirty-six months after the Effective Date. Thereafter, this
Agreement will continue in full force and effect from year to year
unless terminated by either the Employee or the Company by written
notice given to the other not later than two months before the end of
the year of such termination. The period from the date hereof until the
date the Employee's employment hereunder is terminated (whether
thirty-six months after the Effective Date or earlier or later as
provided herein) is hereinafter called the "Employment Term."
2. Except as expressly provided in this Amendment, nothing herein shall
affect or be deemed to affect any provisions of the Employment
Agreement, and except only to the extent that they may be varied
hereby, all of the terms of the Employment Agreement shall remain
unchanged and in full force and effect and are hereby ratified and
confirmed.
If the foregoing correctly sets forth our understanding concerning this matter,
please sign below and return to us an executed copy of this letter, whereupon
this letter shall become a binding agreement between us.
Sincerely,
Teletrac, Inc.
By /s/ Xxxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Chief Executive Officer
Accepted and agreed to as of the date written above.
/s/ Xxxxxx Xxxxxxxxxxx
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