EXHIBIT 10.10
AMENDMENT NO. 4
To
EMPLOYMENT AGREEMENT
This Amendment No. 4, effective the 28th day of February, 1999, is made
to that certain Employment Agreement between Intermec Technologies
Corporation and Xxxxxxx Xxxxxxx, dated the 18th day of May, 1995 as amended
(the "Agreement").
WHEREAS, the parties to the Agreement wish to extend the Employment
Period described in the Agreement from February 28, 1999 to December 31,
1999.
NOW THEREFORE, by mutual agreement of the parties, the Agreement is
hereby amended as follows:
1. TERM OF AGREEMENT:
Xxxxxxx Xxxxxxx hereby agrees to retire from Employment with Intermec
Technologies Corporation and as an officer of UNOVA, Inc. on December 31,
1999, or at such earlier date as requested by Xxxxxxx Xxxxxxx or the Chief
Executive Officer of UNOVA, Inc. upon at least sixty days notice delivered
by either of them to the other.
2. COMPENSATION:
The base annual salary set forth in numbered Paragraph 3, BASE PAY,
shall be increased from $325,000 to $350,000 for the period of March 1, 1999
through the end of the Term of Agreement described in Paragraph 1 of this
Amendment No. 4.
3. EXECUTIVE FLEX BENEFIT:
Numbered Paragraph 6, EXECUTIVE FLEX BENEFIT, is amended to read as
follows: "The Executive will receive an Executive Flex Benefit of $10,000
for calendar year 1999, irrespective of whether he is employed for the full
calendar year."
4. RETIREMENT/SERP:
Upon retirement as described in Paragraph 1 of this Amendment No. 4,
Xxxxxxx Xxxxxxx will receive the retirement benefits provided in the UNOVA,
Inc. Supplemental Employee Retirement Plan ("SERP"). For purposes of
determining such benefits, Xxxxxxx Xxxxxxx will be considered to be vested
with 15 years of service on the retirement date. The parties agree that the
extension of the Employment Period described
in Paragraph 1 of this Amendment No. 4 will not have the effect of
increasing such vesting beyond 15 years.
5. OTHER TERMS AND CONDITIONS:
Except as modified herein all other terms and conditions of the
Agreement as amended by Amendments No. 1, 2, and 3 shall remain in full
force and effect as originally written.
IN WITNESS WHEREOF, the parties hereto have signed and delivered this
Amendment No. 4 as of the date first written above.
INTERMEC TECHNOLOGIES EXECUTIVE
CORPORATION
By: ___________________________ By: __________________________
Xxxxxxxx X. Xxxxx Xxxxxxx Xxxxxxx
Vice President and Secretary
