1
EXHIBIT 10.28
April 26, 1995
Xx. Xxxxxx X. Xxxxx
00 Xxxxxxxx Xxxxxx Xxxxx
Xxxx Xx. 000
Xxxxxx, XX 00000
RE: Second Amendment to March 9, 1993 Agreement
Dear Xxx:
This letter constitutes a second amendment to the March 9, 1993 letter
between Wang Laboratories, Inc. ("WLI") and you relative to your employment by
WLI as its Chief Executive Officer (the "Employment Letter"), as amended on
June 22, 1994. WLI has agreed with you that the Employment Letter is amended as
follows:
The provisions of paragraph 6 of the Employment Letter shall be
replaced and superseded in total by the following:
6. SEVERANCE
---------
For the purpose of this Paragraph 6, your Anticipated Annual
Compensation shall be $816,000. If your employment is terminated by WLI
prior to the Termination Date, or if you cease to be the Chief
Executive Officer and Chairman of the Board of the Company, or there
is an adverse change in your compensation (other than a change in
benefits generally applicable to all officers under paragraphs 4, 5 and
7 herein), or there is a significant relocation of your employment
without your consent, and you choose to resign, WLI shall pay to you:
(a) immediately upon termination or resignation, a lump sum payment
equal to 12 months of your Anticipated Annual Compensation
($816,000), plus
(b) commencing one month after termination or resignation and
ending 12 months thereafter, 12 equal monthly payments of $136,000,
each consisting of one-twelfth (1/12) of twice your Anticipated
Annual Compensation.
2
Xx. Xxxxxx X. Xxxxx
April 26, 1995
Page 2
A "significant relocation" shall mean a relocation to such place of
business as makes your commutation from your then residence either
impractical or unduly burdensome.
The Employment Letter is hereby ratified and confirmed except as expressly
modified herein.
WANG LABORATORIES, INC.
By: /s/ Xxxxxxxxx X. Xxxx
---------------------------
Xxxxxxxxx X. Xxxx
Member, Organization,
Compensation & Nominating
Committee
Agreed to:
/s/ Xxxxxx X. Xxxxx
------------------------
Xxxxxx X. Xxxxx
