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EXHIBIT 10.1
AMENDMENT #2 TO
EMPLOYMENT AGREEMENT
Pursuant to a Resolution of the Board of Directors of Voice Control
Systems, Inc., a Delaware corporation ("Company"), the Employment Agreement
dated June 18, 1993 between Xx. Xxxxxx X. Xxxxxx ("Employee") and the Company,
which was modified by Amendment #1 on July 20, 1995, collectively referred to
as the "Agreement" is hereby amended effective the 15th day of February, 1997
as follows.
ARTICLE I of the Agreement shall be replaced in its entirety with the
following:
ARTICLE I
Term of Employment
Subject to the provisions hereof, the term of Employee's employment by
Company under this Agreement shall extend through June 18, 1998; provided,
however, that the term of employment shall be extended for an additional
one-year period unless, on or prior to the date thirty calendar days prior to
the end of such period either Company or Employee shall give notice to the
other of an intention to terminate this Agreement, in which case the term of
employment shall comprise only the original period.
Section 3.01.A and 3.02.A of the Agreement shall be replaced with the
following:
3.01.A In lieu of the provisions of 3.0.1, from and after May 1, 1996,
as compensation for services rendered under the Agreement, Company shall pay
Employee a salary of one hundred fifty-five thousand dollars ($155,000) per
year, payable, less applicable FICA and withholding taxes, in semi-monthly
installments. Such salary shall be reviewed annually by the CEO or COO and
approved by the Board of Directors, after which review the salary may be raised
but not lowered.
3.02.A In lieu of the provisions of 3.0.2, from and after May 1, 1996,
Employee shall be eligible to receive a bonus of up to five thousand dollars
($5,000) per calendar quarter, less applicable FICA and withholding taxes. The
dollar amount of the bonus shall be determined at the sole discretion of the
CEO or COO based upon exceptional achievements during the quarter.
EMPLOYEE: COMPANY:
/s/ XXXXXX X. XXXXXX /s/ XXXXX X. XXXXXX
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By Its President & CEO, Pursuant to a
Resolution of the Board of Directors
