Exhibit 10.23
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This First Amendment to Employment Agreement (this "Amendment") is made and
entered into as of this 17th day of May, 2001, by and between DATA SYSTEMS &
SOFTWARE INC., a Delaware corporation (the "Company"), and XXXXXX XXXXXXXXXXX
(the "Executive").
WHEREAS, the Company and the Executive are parties to an Employment
Agreement dated as of January 1, 1997 (the "Agreement"), which expires on
December 31, 2001; and
WHEREAS, the Company desires to assure itself of the Executive's continued
services until December 31, 2002 before he considers an election to be retained
by the Company on a part-time basis in an advisory and consultative capacity,
and the Executive is willing to continue to provide such services to the Company
on a full time basis until such date.
NOW, THEREFORE, in consideration of the mutual promises hereinafter set
forth, the parties hereto, intending to be legally bound, hereby agree as
follows:
1. Paragraphs 1(a), 1(b), 2(a)(2)(i) and 4(a) of the Agreement are hereby
amended by deleting the references therein to "December 31, 2001" and
substituting "December 31, 2002" in its place.
2. Paragraph 1(c)(ii) of the Agreement is hereby amended by deleting the
reference therein to "December 31, 2005" and substituting "December 31, 2006" in
its place.
3. Except as modified by this Amendment, all other terms of the Agreement
shall continue in full force and effect without modification.
4. This Amendment may be executed in counterparts, each of which shall
constitute an original and which together shall constitute one and the same
agreement
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement, as
of the day and year first above written.
DATA SYSTEMS & SOFTWARE INC.
By: /s/ XXXXX XXXXXXX
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Xxxxx Xxxxxxx, Vice President and
Chief Financial Officer
By: /s/ XXXXXX X. XXXX
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Xxxxxx X. Xxxx, On Behalf
of the Board of Directors
/s/ XXXXXX XXXXXXXXXXX
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XXXXXX XXXXXXXXXXX
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