AMENDMENT TO EMPLOYMENT AGREEMENT
EXHIBIT
10.27
AMENDMENT
TO EMPLOYMENT AGREEMENT
Xxxxxxx X. 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 be deemed effective as of May 2, 2005.
1. Wherever the phrase “DMC Stratex Networks, Inc.” appears in the Agreement, it is hereby
deleted and replaced with “Stratex Networks, Inc.”
2. Paragraph 5(d)(i) is deleted from the agreement in its entirety.
3. The following is added to Paragraph 5(d)(ii) of the Agreement: “provided, however, that if
you are 60 years of age or older on the date of your termination without cause, and if you have
been employed by the Company for not less than three years as of the date of your termination
without cause, the Company will pay the premiums necessary to continue your Company group health
insurance coverage under COBRA (or to provide you with comparable health insurance coverage) until
you reach the age of 65 or until you are eligible to participate in another employer’s group health
insurance plan, whichever comes first;”.
4. In Paragraph 5(d) of the Agreement, the phrase “(ii to a maximum of 36 months)” is modified
to read as follows: “(ii to a maximum of 36 months, unless you are 60 years of age or older on the
date of your termination/resignation and you have been employed by the Company for not less than
three years as of the date of your termination/resignation, in which case the last clause of
subparagraph 5(d)(ii) shall apply)”.
5. In Paragraph 11 of the Agreement, the last sentence (“Provided, however . . .”) is hereby
deleted and replaced with the following sentence: “Any arbitration conducted under this Paragraph
will be pursuant to the American Arbitration Association’s (“AAA”) National Rules for the
Resolution of Employment Disputes, a copy of which can be found on the AAA’s website at
xxx.xxx.xxx.”
Except as modified by this Amendment, the Agreement will remain in full force and effect.
Dated: October 28, 2005 | ||||
/s/ Xxxxxxx X. Xxxxxxx | ||||
Xxxxxxx X. Xxxxxxx | ||||
Dated: October 28, 2005 | Stratex Networks, Inc. |
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By: | /s/ V. Xxxxx Xxxxxxxxx | |||
Its: Chairman of Compensation Committee | ||||
of the Board of Directors | ||||