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Exhibit 10.42
November 14, 1995
Xx. Xxxxxx X. Xxxxx
10 Mountain Xxxxxx Xxxxx
Xxxx Xx. 000
Xxxxxx, XX 00000
RE: Amendment to March 9, 1993 Agreement, as amended
Dear Xxx:
This letter constitutes a third amendment to the March 9, 1993 letter
agreement between Wang Laboratories, Inc. ("WLI") and you relative to your
employment by WLI as its Chief Executive Officer and Chairman of the Board of
Directors (the "Employment Letter"), as amended on June 22, 1994 and April 26,
1995. WLI has agreed with you that the Employment Letter is amended as follows:
1. Paragraph 2(c), added to the Employment Letter through Paragraph 3 of
the June 23, 1994 amendment, is modified to delete the words "and the
fiscal years thereafter" from its introductory provisions.
2. A new Paragraph 2(d) is hereby added to the Employment Letter that
provides as follows:
Your cash compensation for Fiscal Year 1996 and the fiscal years
thereafter shall consist of: (i) a $555,000 annual base salary;
and (ii) a bonus to be determined by the Board of Directors based
upon your performance, to be targeted at 60% of your annual base
salary at 100% performance and 80% of the annual base salary at
120% performance.
You shall be targeted to draw $25,000 per quarter against the targeted
bonus but such draw shall be for your convenience only.
3. The provisions of Paragraph 6 of the Employment Letter, as amended by
the amendment of June 22, 1994, shall be modified to provide that your
Anticipated Annual Compensation, as defined therein, shall be $888,000.
