Exhibit 10.16(a)
September 23, 1996
Miami Computer Supply, Inc.
0000 Xxxxxx Xxxxxx Xxxx
Xxxxxx, Xxxx 00000
VIA CERTIFIED MAIL
RETURN RECEIPT REQUESTED
Xxxxxxx X. Xxxxxx
00000 Xxxxxxxxxx Xxxxx
Xxxxxxxxxxx, Xxxx 00000
Re: Employment Agreement
Dear Xxxx:
Pursuant to Section VI of the Employment Agreement dated May 30, 1996
("Agreement") by and between Miami Computer Supply, Inc. and Xxxxxxx X. Xxxxxx,
we hereby propose to amend the Agreement as follows:
Section III.A. shall be deleted in its entirety and replaced with:
"A. A business plan dated September 3, 1996 ("Plan") for the fiscal
years 1996 through 1999 has been approved by the Board of Directors.
Executive shall be paid a base salary ("Base Salary") which will be
increased based on whether, beginning in 1998, the Company meets the
targeted pretax income for the prior fiscal year as set forth in the
Plan, as follows: In fiscal 1997, the Base Salary shall be $10,871; in
fiscal 1998, (i) if the Company does not meet the targeted pretax income
for 1997 under the Plan, Executive's Base Salary for 1998 shall be the
product of his Base Salary for 1997 multiplied by 1.06; or (ii) if the
Company meets the targeted pretax income for 1997 under the Plan,
Executive's Base Salary for 1998 shall be the product of his Base Salary
for 1997 multiplied by 1.33; in fiscal 1999, (i) if the Company does not
meet the targeted pretax income for 1998 under the Plan, Executive's
Base Salary for 1999 shall be the product of his Base Salary for 1998
multiplied by 1.06; or (ii) if the Company meets the targeted pretax
income for 1998 under the Plan, Executive's Base Salary for 1999 shall
be the product of his Base Salary for 1998 multiplied by 1.25."
Xxxxxxx X. Xxxxxx
September 23, 1996
Page 2
"B. In addition to the Base Salary, a bonus will be paid to Executive of
nine percent (9%) of pretax profits before employee profitsharing or any
other bonuses, which amount shall not, beginning in year 1997, exceed in
any year the amount of his Base Salary. Sixty percent (60%) of such
bonus shall be paid quarterly. Executive will, if he is required to move
his residence to Dayton, Ohio, be reimbursed or advanced the expense of
his relocation by the Company upon presentation of documentation of such
expenditures."
If you agree to the above amendment, please so signify by executing this
letter in the space provided below and returning the copy of the executed letter
to me as soon as possible.
Sincerely,
/s/Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
President
Accepted and Agreed this 25th day of October, 1996.
/s/Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
