EXHIBIT 10(vv)
Strategic Technology Systems, Inc.
One Electronics Xxxxx
Xxxxxxx, Xxx Xxxxxx 00000
December 30, 1997
Base Ten Systems, Inc.
One Electronics Xxxxx
Xxxxxxx, Xxx Xxxxxx 00000
Re: Consulting Services; Payment
Gentlemen:
As you aware, pursuant to that certain employment agreement dated March 26,
1992, by and between myself and Base Ten Systems, Inc., I am entitled to
compensation by the Company at the time of my resignation. Specifically,
paragraph 5(c) of said employment agreement states that my compensation shall be
"(x) his salary and benefits as due under this Agreement to the date of
termination and (y) a termination payment..."
This letter shall confirm our agreement that my total compensation upon
termination shall be equal to one year of my base salary, which is $225,000. In
addition, I will make myself available as a consultant to Base Ten Systems, Inc.
for a period of two years following my resignation, with respect to events and
matters which occurred during my tenure as chief financial officer of Base Ten
Systems, Inc., provided such consulting services do not interfere with my other
employment duties.
Please indicate your acceptance of the terms of this Letter Agreement by
returning an executed copy to the undersigned.
Very truly yours,
/s/ Xxxxxx X. Xxxxxxxxx
Xxxxxx X. Xxxxxxxxx
President,
Strategic Technology Systems, Inc.
ACCEPTED AND AGREED TO:
Base Ten Systems, Inc.
By: /s/ X. Xxxxxxxx
--------------------------
Title: Chairman
Date: Dec. 31, 1997
