Exhibit 10.2
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Xxxxxxx Technology Company, Inc.
0 Xxxx Xxxxx Xxxx
Xxxxx 000
Xxxxxxx, XX 00000-0000
Tel: 000-000-0000
Fax: 000-000-0000
July 30, 2005
Xx. Xxxxxx X. Xxxxx
00000 Xxxxxxxxxx Xxxxx
Xxxxxx, XX 00000
Dear Xx. Xxxxx:
Pursuant to Paragraph 18 of our agreement dated March 19, 2001, as amended
by our subsequent agreements dated February 26, 2002, August 13, 2002 and July
11, 2003 (the "Agreement"), which sets forth the terms of your employment with
Xxxxxxx Technology Company, Inc. (the "Company"), the Agreement is hereby
further amended, effective July 1, 2005, as follows:
1. Each of Xxxxxxxxx 0, Xxxxxxxxx 9D(i), and Paragraph 9D(v) of the
Agreement are amended by deleting "Chairman of the Board, President
and Chief Executive Officer", and inserting in its place "Chairman of
the Board and Chief Executive Officer".
2. Paragraph 2(D) of the Agreement is amended by deleting "one hundred
one thousand seven hundred eighteen and 60/100 dollars ($101,718.60)"
and inserting in its place "one hundred fifteen thousand dollars
($115,000.00)."
3. Paragraph 2(D) of the Agreement is amended by deleting "eight thousand
four hundred seventy-six and 55/100 dollars ($8,476.55)" and inserting
in its place "nine thousand five hundred eighty-three and 33/100
dollars ($9,583.33)."
4. Paragraph 9(E)(i) of the Agreement is amended by deleting "August 5,
2003" and inserting in its place "November 15, 2007".
5. Paragraph 9(G) of the Agreement is amended by deleting "August 5,
2005" and inserting in its place "November 15, 2007".
6. Paragraph 19 of the Agreement is amended by changing the address to
which notices to the Company shall be given to the following:
Xxxxxxx Technology Company, Inc.
0 Xxxx Xxxxx Xxxx
Xxxxx 000
Xxxxxxx, XX 00000
Facsimile: 000 000 0000
7. As an inducement to amend and extent the Agreement, the Company shall
pay to you a signing bonus of seventy-five thousand dollars
($75,000.00) within fourteen (14) days of your signing this letter
agreement.
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/ Xxxxxx X. Xxxxxxxxxx
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Xxxxxx X. Xxxxxxxxxx
Chair, Audit Committee
AGREED TO AND ACCEPTED ON AUGUST 17, 2005:
/s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
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