AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit 10.20
This Amendment (this “Amendment”), dated as of May 15, 2008, amends that certain Employment
Agreement (the “Employment Agreement”) made and entered into on the 9th day of October, 2001, by
and between Globecomm Systems Inc., a Delaware corporation with principal offices located at 00
Xxxx Xxxxxx, Xxxxxxxxx, X.X. 00000 (the “Company”), and Xxxxxx X. Xxxxx (the “Executive”).
WITNESSETH:
WHEREAS, since the Effective Date of the Employment Agreement, the Executive has been the Chief
Financial Officer of the Company (all capitalized terms not defined in this Amendment shall have
the meanings ascribed to them in the Employment Agreement); and
WHEREAS, in recognition of the ever-increasing responsibilities placed upon the Chief Financial
Officer of the Company following the adoption of the Xxxxxxxx-Xxxxx Act of 2002, the evolving and
increasingly complex auditing standards for public companies, the extra burdens placed on the Chief
Financial Officer as the Company enhances its acquisition program, and to reward past performance
and provide an incentive for future performance, it is desirable to increase the “Severance Period”
set forth in the Employment Agreement of the Chief Financial Officer from two (2) years to three
(3) years.
NOW, THEREFORE, the parties hereto hereby agree to amend the Employment Agreement as follows:
| 1. | Termination and Severance. | |
| Section 10(b)(ii)(A) of the Employment Agreement is hereby deleted and replaced in full with the following: | ||
| “(ii) Subject to Section 11, if the Company terminates the Executive’s employment without Cause, or the Executive terminates his employment for Good Reason (A) the Company shall continue to pay the Executive the Salary for a three (3) year severance period commencing upon the effective date of the termination (the “Severance Period”);” | ||
| 2. | Effect of this Amendment. As amended hereby, the Employment Agreement shall remain in full force and effect. |
IN WITNESS WHEREOF, the undersigned have duly executed this Amendment as of the date first set
forth above.
EXECUTIVE
/s/ XXXXXX X. XXXXX
|
| GLOBECOMM SYSTEMS INC. | ||||
By:
|
/s/ XXXXX X. XXXXXXXXX
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