Exhibit 10.16
ADAPTIVE BROADBAND CORPORATION
ADDENDUM TO THE FEBRUARY 18, 2000
RETENTION AND SEVERANCE AGREEMENT
THIS ADDENDUM TO THE FEBRUARY 18, 2000 RETENTION AND SEVERANCE AGREEMENT
("Addendum") is entered into as of July 5, 2000 (the "Effective Date"), between
ADAPTIVE BROADBAND CORPORATION, a Delaware corporation ("ADAP") and Xxxxxx
Arena (the "Employee").
RECITAL
By this Addendum, ADAP authorizes the Employee to accept employment as a
director on the Board of Xxxxxxx Associates without such employment limiting the
duration or continuance of severance compensation as outlined in Paragraph 4 of
the Retention and Severance Agreement dated February 18, 2000 ("Agreement").
However, any compensation exceeding $20,000 in one 12 month period shall result
in a dollar-for-dollar reduction in level of severance compensation described
therein. Employment as a director on the board of any other business or entity,
whether paid or not, shall not constitute employment and shall not limit the
duration or continuance nor reduce the amount of severance compensation.
The parties agree as follows:
1. Severance Compensation. ADAP authorizes The Employee to begin employment as
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a director on the board of any business or entity, including Xxxxxxx Associates,
without such employment limiting the duration or continuance of severance
compensation as provided in Section 4 of the Agreement. However, the amount of
compensation exceeding $20,000 in one 12 month period that the Employee receives
as a director on the Board of Xxxxxxx Associates shall be deducted from the
severance compensation amount paid by ADAP.
2. Miscellaneous. Except as modified by this Addendum, the Agreement remains
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in full force and effect
IN WITNESS WHEREOF, the parties have executed this Addendum as of the day and
year first above written.
ADAPTIVE BROADBAND CORPORATION
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Xxxxx Xxxxx
Xxxxxx Arena
Executive Vice President and CFO
Employee
