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EXHIBIT 10.16
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement is made by and between Pacific Research &
Engineering Corporation ("PR&E") and Xxxxx X. Xxxxx ("Xxxxx"), effective April
12, 1999. The purpose of this agreement is to amend the Employment Agreement
dated February 1, 1999 as follows:
Paragraph 6 will be deleted and replaced by the new paragraph 6, which reads as
follows:
6. Term. The parties agree that the employment relationship
between Xxxxx and PR&E shall continue for a period of two years
commencing on April 1, 1999 and continuing until March 31, 2001,
unless sooner terminated in accordance with paragraph 6.1 or 6.2
below. Upon completion of this term, the employment relationship
between Xxxxx and PR&E will be "at will" and may be terminated
by either Xxxxx or PR&E at any time, with or without cause, upon
30 days advance notice, unless the parties agree, in writing, to
renew this Agreement for a future specified term.
6.1 Termination for Cause by PR&E. Although PR&E
anticipates a mutually rewarding employment relationship with
Xxxxx, upon written notice to Xxxxx, PR&E may terminate the
employment relationship immediately in the event of any good
cause, including, but not limited to, default, dishonesty,
neglect of duties, failure to perform, conviction of a felony or
crime of moral turpitude or death of Xxxxx.
6.2 Voluntary Resignation Without Cause by Xxxxx. Xxxxx
may voluntarily resign his position with PR&E with or without
cause at any time on 30 days written notice.
Paragraph 11, Entire Agreement, shall also be amended to read as follows:
11. Entire Agreement. This Employment Agreement dated February
1, 1999, including Exhibit A appended hereto and the PR&E
Employee Innovations and Proprietary Rights Assignment Agreement
incorporated by reference, along with the Amendment to
Employment Agreement dated April 12, 1999, constitutes the
entire agreement between the parties relating to this subject
matter and supersedes all prior or simultaneous representations,
discussions, negotiations and agreements whether written or
oral. This Agreement may be amended or modified only with the
written consent of Xxxxx and the COO, CEO or majority vote of
the Board of Directors of PR&E. No oral waiver, amendment or
modification will be effective under any circumstances
whatsoever.
All other terms and conditions of the February 1, 1999 Employment Agreement
remain in full force and effect. THE PARTIES TO THIS AGREEMENT HAVE READ THE
FOREGOING AMENDMENT TO EMPLOYMENT AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY
PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE FREELY AND VOLUNTARILY
EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW.
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Dated Xxxxx X. Xxxxx
0000 Xxxxx Xxxxx Xxxxx
Xxxxxxxx, XX 00000-0000
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PACIFIC RESEARCH & ENGINEERING
By:
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Dated Xxxxxx X. Xxxx
President and Chief Operating
Officer
0000 Xxx Xxxxxx Xxxxx
Xxxxxxxx, XX 00000
