Exhibit 10.1
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment") is
effective as of December 31, 2010, by and between ORBIT INTERNATIONAL CORP., a
Delaware corporation (the "Company") and XXXXX XXXXXXXX (the "Executive").
W I T N E S S E T H:
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WHEREAS, the Company and Executive entered into an employment agreement
dated as of December 14, 2007 (the "Employment Agreement") pursuant to which the
Executive was employed by the Company upon the terms and conditions contained
therein; and
WHEREAS, the parties desire to amend certain provisions of the Employment
Agreement as set forth below.
NOW, THEREFORE, in consideration of the mutual promises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, each of the parties agree with the others as follows:
1. The first sentence of Paragraph 9 of the Employment Agreement is hereby
deleted in its entirety, and a new sentence reading in its entirety as follows
is hereby inserted in its place:
"The Term and Executive's employment hereunder shall continue from the effective
date of this Agreement through February 28, 2011, unless terminated earlier by
the Company or by Executive pursuant to this Paragraph 9."
2. Paragraph 4D is hereby deleted in its entirety.
3. Except as herein amended, the Employment Agreement shall remain in full
force and effect.
4. This Amendment may be executed in one or more counterparts, each of which
shall be considered an original, and all of which, when taken together, shall be
considered one and the same agreement and shall become effective when such
counterparts have been signed by each of the parties and delivered to the other
parties, it being understood that all parties need not sign the same
counterpart.
[Signature page follows.]
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the day and year first above written.
ORBIT INTERNATIONAL CORP.
By: /s/ Xxxxxxxx Xxxxxx
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Name: Xxxxxxxx Xxxxxx
Title: Chief Executive Officer
/s/ Xxxxx Xxxxxxxx
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XXXXX XXXXXXXX
