Exhibit 10.8.2
ADDENDUM
TO
EXECUTIVE MANAGEMENT SEVERANCE AGREEMENT
ADDENDUM, dated as of December 31, 2001, to Executive Management
Severance Agreement dated August 11, 1999, between Xxxx X. XxXxxx, (the
"Executive") residing at 00000 Xxxxxxxx Xxxxx, Xxxxx Xxxxx, Xxxxxxxx 00000, and
Condor Technology Solutions, Inc., a Delaware corporation (the "Corporation"),
with offices at 000 X. Xxxxxx Xxxxxx, 0xx Xxxxx, Xxxxxxxxx, Xxxxxxxx 00000 (the
"Agreement").
WHEREAS, the Agreement provides for certain compensation and benefits to the
Executive following a change of control of the Corporation; and
WHEREAS, there will be a change of control of the Corporation upon the issuance
of shares representing fifty five percent of all shares of the Corporation's
common stock outstanding to a trust established by the Corporation's lender
group, led by First Union National Bank, or to members of the lender group; and
WHEREAS, the Corporation desires to reduce the cost of internal legal services
in order to meet budget objectives in calendar year 2002; now therefore it is
AGREED that
1. The Executive shall be on unpaid leave one (1) day per calendar week,
commencing the week of December 31, 2001, and the Executive shall
receive no cash bonus in respect of services rendered during calendar
year 2001, constituting a reduction in compensation.
2. The parties to the Agreement acknowledge that the severance benefits
provided to the Executive upon termination of employment could decrease
over time after a change of control of the Corporation in accordance
with the schedule provided in Exhibit A to the Agreement.
3. A delay in the exercise of any rights under the Agreement by the
Executive shall not constitute a waiver of such rights and shall not
limit such rights.
4. Except as set forth above, the Agreement shall remain in full force
and effect.
IN WITNESS WHEREOF, the parties have executed this Addendum to the
Agreement as of the day and year first above written.
CONDOR TECHNOLOGY SOLUTIONS, INC.
/s/ X. X. Xxxxx /s/ Xxxx X. XxXxxx
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X. X. Xxxxx, Xx., President and Xxxx X. XxXxxx
Chief Executive Officer
