Baldwin Technology Company, Inc. 2 Trap Falls Road Suite 402 Shelton, CT 06484 Tel: 203-402-1000 Fax: 203-402-5500 January 29, 2009
Xxxxxxx Technology Company, Inc.
0 Xxxx Xxxxx Xxxx
Xxxxx 000
Xxxxxxx, XX 00000
Tel: 000-000-0000
Fax: 000-000-0000
0 Xxxx Xxxxx Xxxx
Xxxxx 000
Xxxxxxx, XX 00000
Tel: 000-000-0000
Fax: 000-000-0000
January 29, 2009
Xx. Xxxx X. Xxxxxxxxxx
00 Xxxxxxxx Xxxx
Xxxxxx, XX 00000
00 Xxxxxxxx Xxxx
Xxxxxx, XX 00000
Dear Xxxx:
Pursuant to Paragraph 17 of the agreement dated June 19, 2007 (the “Agreement”), which sets forth
the terms of your employment with Xxxxxxx Technology Company, Inc. (the “Company”), and in
accordance with a letter agreement between you and the Company dated January 13, 2009 wherein you
agreed to reduce your annual base salary by ten (10%) percent, the Agreement is hereby amended,
effective February 1, 2009, as follows:
1. | Paragraph 2.A is amended to provide for an annual base salary of three hundred seventy eight thousand dollars ($378,000). | ||
2. | Notwithstanding the foregoing, any payments that may become due to you in accordance with Paragraph 2.D or Paragraph 8 of the Agreement, and any other calculations which rely on your annual base salary shall continue to be calculated as if your annual base salary was four hundred twenty thousand dollars ($420,000). |
As so amended by this letter agreement, the Agreement shall remain in full force and effect.
Very truly yours, XXXXXXX TECHNOLOGY COMPANY, INC. |
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By: |
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/s/ Xxxx X. Xxxxxx |
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Chair, Compensation Committee | ||||
AGREED TO AND ACCEPTED | ||||
/s/ Xxxx X. Xxxxxxxxxx | ||||
Xxxx X. Xxxxxxxxxx | ||||
Date: |
January 30, 2009 | |||