Exhibit 10.7
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
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Agreement made this 17 day of December, 1999 by and between Xxxx T. W.
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Xxxxxxx ("Xxxxxxx") and Embedded Support Tools Corporation ("Company").
Reference is made to a certain Employment Agreement dated July 1, 1999
between Xxxxxxx and the Company (the "Agreement").
WHEREAS, in order to facilitate the Company's prospects for successful
completion of a public offering of its shares of common stock and Xxxxxxx'x
opportunity to include a portion of his shares in such offering, the parties
wish to effect certain changes in the Agreement.
NOW, THEREFORE, in consideration of the terms, conditions, agreements and
covenants hereinafter set forth, the parties hereto acting in reliance upon the
representations and warranties of the others contained in this Agreement, agree
as follows:
1. Section 1.1 of the Agreement is hereby amended such that the phrase
reading "From the Effective Date through December 31, 1999 (the "Transition
Period") shall henceforth read "From the Effective Date through December 17,
1999".
2. The "Transition Period" as used in Section 1.1 of the Agreement shall
end on December 17, 1999 for all purposes, including without limiting the
generality of the foregoing, the date as of which Xxxxxxx shall resign as
Treasurer and Vice-President of the Company and assume the role of Vice-
President, Human Resources except, however, that Xxxxxxx'x current salary shall
continue through December 31, 1999 at the rate of $250,000 per year and shall
change to $125,000 effective only upon January 1, 2000.
Except as set forth above, the Agreement shall remain unchanged and in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year set forth above.
COMPANY: EMBEDDED SUPPORT TOOLS
CORPORATION,
a Massachusetts corporation
By: /s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx, President
XXXXXXX: By: /s/ Xxxx X.X. Xxxxxxx
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Xxxx X.X. Xxxxxxx
