EXHIBIT 10.51
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This is an Amendment No. 1, dated January 28, 1999 (the
"Amendment No. 1"), to an Employment Agreement dated October 1, 1998 (the
"Employment Agreement"), between Plasma-Therm, Inc., a Florida corporation (the
"Company"), and Xxx X. Xxxxxxxxx (the "Employee").
BACKGROUND
WHEREAS, the Employee is currently employed by the Company
pursuant to the terms of the Employment Agreement. The parties wish to amend the
Employment Agreement to reflect changes in Section 4.2.
NOW, THEREFORE, the parties hereto intending to be legally
bound hereby, and in consideration of the mutual covenants herein contained,
agree as follows:
TERMS
1. The foregoing recitals are true and correct and
incorporated herein by reference. Any capitalized terms used but not defined
herein shall have the same meaning ascribed to them in the Employment Agreement.
2. The Employment Agreement is hereby amended by revising
Section 4.2 to read in its entirety as follows:
An annual bonus based on one percent (1%) of fiscal year
Net Earnings, as defined by Company policy, to be paid on a quarterly
basis and reconciled at year end, not to exceed $100,000.00 annually.
3. Except as specifically set forth above, the Employment
Agreement shall remain in full force and effect.
4. This Amendment No. 1 may be executed in any number of
counterparts, each of which shall be deemed to be an original, and all of which
together shall constitute one document.
5. This Amendment No. 1 contains the final, complete, and
exclusive expression of the parties' understanding and agreement concerning the
matters contemplated herein and supersedes any prior or contemporaneous
agreement of representation, oral or written, among them.
6. This instrument shall be binding upon, and shall inure to
the benefit of, each of the parties' respective personal representatives, heirs,
successors, and assigns.
7. This instrument shall be governed by, and construed and
enforced in accordance with, the laws of the State of Florida.
IN WITNESS WHEREOF, the parties have executed this Amendment
No. 1 on the day and year first written above.
PLASMA-THERM, INC.
/s/ XXXXXX X. XXXXXXXXX
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Xxxxxx X. XxXxxxxxx
President and Chief Executive Officer
Employee
/s/ XXX X. XXXXXXXXX
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Xxx X. Xxxxxxxxx
