EXHIBIT 10.1
AMENDMENT TO XXXX X. XXXXXXX'X
EMPLOYMENT AGREEMENT
DATED NOVEMBER 1, 2000
THIS AMENDMENT, made as of the 30th day of September 2002 by and
between FATS, Inc., a Delaware corporation (the "Company"), and Xxxx X. Xxxxxxx
(the "Executive").
THIS AMENDMENT hereby amends certain terms of Xx. Xxxxxxx'x employment
agreement as follows:
1. EMPLOYMENT TERM - the term of this employment agreement is
hereby extended by one year and shall end on October 1, 2004.
2. TERMINATION WITHOUT CAUSE - the Executive will be paid an
amount equal to his annual Base Salary as in effect immediately prior to the
Executive's termination of employment, payable in substantially equal bi-weekly
installments during the twelve (12) month period immediately following the
Executive's termination of employment with the Company.
3. TERMINATION SEVERANCE PAYMENTS - the severance amount payable
to the Executive during the 12-month period following the Executive's
termination shall not be reduced by any salary, bonus or other compensation
which the Executive receives from any other company as an employee, director or
consultant.
All other terms and conditions of Xx. Xxxxxxx'x employment
remain as stated in the November 1, 2000 Employment Agreement.
IN WITNESS WHEREOF, the parties have executed this Amendment
the day and year above written.
FATS, INC.
By:
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Xxx X. Xxxxxxx
Its: Chairman of the Board and CEO
Executive:
By:
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Xxxx X. Xxxxxxx
Chief Financial Officer
