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EXHIBIT 10.3
FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FOURTH AMENDMENT, made as of the 1st day of March, 2001, by and
between MECHANICAL DYNAMICS, INC., a Michigan corporation (the "Company"),
having offices located at 0000 Xxxxxxxxxx Xxxxx, Xxx Xxxxx, Xxxxxxxx 00000, and
XXXXX XXXXXXX, of Livonia, Michigan ("Employee"), for the purpose of amending
that certain Employment Agreement between the Company and Employee dated as of
March 1, 1997, and amended by agreements dated as of March 1, 1998, as of March
1, 1999, and as of March 1, 2000 (collectively, the "Employment Agreement").
WITNESSETH:
WHEREAS, the Company and Employee desire to extend the Employment
Agreement for an additional one-year period.
NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants contained herein and in the Employment Agreement, the parties hereto
agree as follows:
A. Section 2 of the Employment Agreement is hereby amended to extend
the term of said Agreement through March 31, 2002.
B. Except as expressly modified herein, the Employment Agreement shall
remain in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties hereto have duly executed this Fourth
Amendment as of the day and year first above written.
WITNESS: COMPANY
MECHANICAL DYNAMICS, INC.
/s/ Xxxxx X. Xxxxx By: /s/ Xxxxxx X. Xxxx, President
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Xxxxxx X. Xxxx, President
EMPLOYEE
/s/ Xxxxx X. Xxxxx /s/ Xxxxx Xxxxxxx
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Xxxxx Xxxxxxx
