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EXHIBIT 10.12
FIRST AMENDMENT dated as of July 3, 2001 to Amended Agreement dated as
of the 12th day of February 2001 by and between Elektryon, Inc. (the "Company")
and Xxxxxx Xxxxxxxxxxx (the "Employee").
W I T N E S S E T H:
WHEREAS, the Employee and the Company entered into an Employment
Agreement dated December 15, 2000 which was amended by an Amended Agreement
dated as of the 12th day of February 2001 (the "Employment Agreement");
WHEREAS, the parties desire to further amend the Employment Agreement.
NOW, THEREFORE, the parties hereto agree as follows:
1. Sections 2(b)(ii) and (iii) of the Employment Agreement are deleted
in their entirety and a new Section 2(b)(ii) to read as follows is substituted
therefor:
"(ii) on August 2, 2001 the Employee shall be entitled to a
bonus of $150,000, payable immediately."
2. As amended, the Employment Agreement shall remain in full force and
effect.
3. This First Amendment may be executed in one or more counterparts,
each of which shall be an original, with the same effect as if the signatures
thereto and hereto were upon the same instrument.
IN WITNESS WHEREOF, this First Amendment has been executed as of the
date first above written.
ELEKTRYON, INC.
By: /s/ Xxxxxxx Xxxxx
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Xxxxxxx Xxxxx
By: /s/ Xxxx Xxxxxxxx
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Xxxx Xxxxxxxx
By: /s/ Xxxxxx Xxxxx
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Xxxxxx Xxxxx
/s/ Xxxxxx Xxxxxxxxxxx
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Xxxxxx Xxxxxxxxxxx
