WHEREAS, the Executive
continues to perform valuable services for the Company and the Company desires
to assure itself of the continuing services of Executive; and
WHEREAS, in consideration of
the foregoing and in order to amend the terms of the Agreement and to provide
for the continued services of the Executive in accordance with the present
intent of the Company and the Executive.
NOW THEREFORE, in
consideration of the foregoing and for other good and valuable consideration,
receipt of which is hereby acknowledged, and in further consideration of the
mutual covenants contained in the Severance Agreement, the parties do hereby
agree that the Severance Agreement is hereby amended as follows:
Section “2. Term of
Agreement” strike the
language “continue until the third anniversary of the Effective Date” and
replace it with “continue until June 30, 2009”.