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EXHIBIT 10.11
AMENDMENT TO EMPLOYMENT AGREEMENT (DATED 12/1/92)
EFFECTIVE OCTOBER 9, 1996
This shall serve as an Amendment to XXXXXX X. XXXXXXX'X Employment
Agreement dated December 1, 1992. This document is hereby amended to reflect
the following changes to sections 3 and 5 of the Agreement:
3. DUTIES
The Employee shall be Vice President of Engineering of the Corporation and
his particular duties and power in such capacity shall be such as may be
determined from time to time by the President of Corporation, provided, however,
such duties and powers shall be consistent with the position of an executive
employee of a Florida business corporation. In the performance of his duties
the Employer shall make available to the Employee, offices, secretarial and
other support as necessary, facilities and amenities commensurate with his
position and duties. Except with the written consent of Employee, his principal
office in performing his duties hereunder shall be situated at Corporation's
headquarters in St. Petersburg, Florida.
5. COMPENSATION
5.1 a base annual salary, payable in weekly or bi-weekly installments, in
the amount of $146,772.
5.2 an annual bonus based on .5% (1/2%) of fiscal year net earnings not
to exceed $50,000, to be paid on a quarterly basis and reconciled at year end.
5.3 reimbursement for reasonable car-related expenses including fuel and
oil, but not maintenance or repair items.
IN WITNESS WHEREOF, the parties have executed this Agreement the day and
year first above written.
FOR PLASMA-THERM, INC.
/s/ Xxxxxx X. Xxxxxxxxx
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Xxxxxx X. Xxxxxxxxx,
President and Chief Operating Officer
EMPLOYEE
/s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxxx
