AMENDMENT TO EMPLOYMENT AGREEMENT Amendment (B)
EXHIBIT 10.31
AMENDMENT
TO EMPLOYMENT AGREEMENT
Amendment (B)
Xxxx Xxxxxxx, (“Executive”) and Stratex Networks, Inc., formerly DMC Stratex Networks, Inc.
(the “Company”), are parties to an Employment Agreement of May 14, 2002 (the “Agreement”).
Executive and the Company now wish to amend the Agreement, and thus they agree as set forth below.
This Amendment shall also be deemed effective as of April 1, 2006.
Notwithstanding any inconsistent provision of this Agreement, to the extent the Company
determines in good faith that (a) one or more of the payments or benefits you would receive
pursuant to this Agreement in connection with your termination of employment would constitute
deferred compensation subject to the rules of Section 409A, and (b) you are a “specified employee”
under Section 409A, then only to the extent required to avoid your incurrence of any additional tax
or interest under Section 409A of the Code, such payment or benefit will be delayed until the date
which is six (6) months after your “separation from service” within the meaning of Section 409A.
Any payments or benefits which would have been payable but are delayed under the previous sentence
shall be payable at that time. You and the Company and agree to negotiate in good faith to reform
any provisions of this Agreement to maintain to the maximum extent practicable the original intent
of the applicable provisions without violating the provisions of Section 409A of the Code, if the
Company deems such reformation necessary or advisable pursuant to guidance under Section 409A to
avoid the incurrence of any such interest and penalties. Such reformation shall not result in a
reduction of the aggregate amount of payments or benefits under this Agreement.
Except as modified by this or other Amendment, the Agreement will remain in full force and effect.
Dated: March 14, 2006 | By: | /s/ Xxxx Xxxxxxx | ||
Employee Name | ||||
Dated: _____________ | Stratex Networks, Inc. |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Its: Chairman and Chief Executive Officer | ||||