Amendment to Employment Agreement
Exhibit 10.39
Amendment
to
This Amendment is made effective as of
November 2, 2009 by and between First Solar, Inc. a Delaware corporation having
its principal office at 000 Xxxx Xxxxxxxxxx Xxxxxx, Xxxxx 000, Xxxxx, Xxxxxxx
00000 (hereinafter “Employer”) and Xxxxx Xxx (hereinafter
“Employee”)
WITNESSETH:
WHEREAS,
Employer and Employee are party to an Employment Agreement dated as of December
1, 2008 (the “Employment Agreement”);
WHEREAS,
Employer has promoted Employee to a new position and adjusted Employee’s
compensation to reflect his new role;
WHEREAS,
the parties wish to memorialize these action by amending the Employment
Agreement accordingly;
NOW, THEREFORE, in consideration of the
foregoing premises, and the mutual covenants, terms and conditions set forth
herein, and intending to be legally bound hereby, Employer and Employee hereby
agree that the Employment Agreement is amended as provided herein.
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1.
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Section
1.2 of the Employment Agreement is amended to replace the title “Vice President, Corporate
Controller” with the title “Chief Accounting
Officer”.
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2.
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Section
2.1 of the Employment Agreement is amended to the stated Base Salary of
“Two Hundred Twenty-Nine
ThousandNine
Hundred Dollars ($229,900)” (which is reflective
of Employee’s Base Salary on the date of the Employment Agreement, and
which is currently Two Hundred Forty-Three Thousand Six Hundred Ninety
Four Dollars ($243,694)) with “Two Hundred Sixty-Eight
Thousand, Sixty-Four Dollars ($268,064)”.
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3.
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Section
2.2 of the Employment Agreement is amended to replace the annual bonus
eligibility from “forty
percent (40%)” to “forty-five percent
(45%)”
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4.
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Except
as amended above, the Employment Agreement shall remain in full force and
effect.
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IN WITNESS WHEREOF, Employer has caused
this Agreement to be executed by one of its duly authorized officers and
Employee has individually executed this Agreement, each intending to be legally
bound, as of the date first above written.
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EMPLOYER
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EMPLOYEE
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/s/ Xxxxxx X. Xxxxxxxx
Xxxxxx
X. Xxxxxxxx
Chief
Executive Officer
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/s/ Xxxxx Xxx
Xxxxx
Xxx
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Date: November
2, 2009
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