Baldwin Technology Company, Inc. 2 Trap Falls Road Suite 402 Shelton, CT 06484 Tel: 203-402-1000 Fax: 203-402-5500 January 29, 2009
Xxxxxxx Technology Company, Inc.
0 Xxxx Xxxxx Xxxx
Xxxxx 000
Xxxxxxx, XX 00000
Tel: 000-000-0000
Fax: 000-000-0000
0 Xxxx Xxxxx Xxxx
Xxxxx 000
Xxxxxxx, XX 00000
Tel: 000-000-0000
Fax: 000-000-0000
January 29, 2009
Xx. Xxxxx X. Xxxxxxxx
0000 Xxxx 00xx Xxxxxx
Xxxxxxx Xxxxxxx, XX 00000
0000 Xxxx 00xx Xxxxxx
Xxxxxxx Xxxxxxx, XX 00000
Dear Xxxxx:
Pursuant to Paragraph 11 of the agreement dated December 19, 2008 (the “Agreement”), which sets
forth the terms of your employment with Xxxxxxx Technology Company, Inc. (the “Company”), and in
accordance with a letter agreement between you and the Company dated January 13, 2009 wherein you
agreed to reduce your annual base salary by ten (10%) percent, the Agreement is hereby amended,
effective February 1, 2009, as follows:
1. | Paragraph 2.A is amended to provide for an annual base salary of one hundred eighty nine thousand six hundred forty one dollars ($189,641). | ||
2. | Notwithstanding the foregoing, any payments that may become due to you in accordance with Paragraph 2.D or Paragraph 5 of the Agreement, and any other calculations which rely on your annual base salary shall continue to be calculated as if your annual base salary was two hundred ten thousand seven hundred twelve dollars ($210,712). |
As so amended by this letter agreement, the Agreement shall remain in full force and effect.
Very truly yours, XXXXXXX TECHNOLOGY COMPANY, INC. |
||||
By: |
/s/ Xxxx X. Xxxxxxxxxx | |||
President and Chief Executive Officer | ||||
AGREED TO AND ACCEPTED | ||||
/s/ Xxxxx X. Xxxxxxxx | ||||
Xxxxx X. Xxxxxxxx | ||||
Date: |
January 29, 2009 | |||