PRINTWARE, INC.
EXHIBIT 10.2(b)
EMPLOYMENT AGREEMENT BETWEEN THE COMPANY AND XXXXXXX X. XXXXXX
TO TERMINATE CHANGE OF CONTROL SEVERANCE AGREEMENT
THIS AGREEMENT ("Agreement") between Printware, Inc. (the "Company") and
Xxxxxxx X. Xxxxxx (the "Employee") is dated as of January 11, 2001 (the
"Effective Date").
WHEREAS, the Company and Employee entered into a certain CHANGE OF CONTROL
SEVERANCE AGREEMENT dated April 13, 2000 (the "Severance Agreement").
WHEREAS, the Company and Employee have mutually agreed to enter into an
EMPLOYMENT AGREEMENT dated January 11, 2001 to supercede the Severance
Agreement.
NOW, THEREFORE, in consideration of the foregoing and of the mutual
promises and covenants herein contained, the receipt and sufficiency of which
are hereby acknowledged, the parties agree that the Severance Agreement is
hereby cancelled and voided in all respects.
FURTHER, Employee agree to not contest the Company's request to Firstar
Bank, N.A. ("Trustee") to release all remaining funds held in escrow by
Trustee relative to Employee's Severance Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first above written.
PRINTWARE, INC.
By: /s/Xxxxxxx Xxxxxxxx
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Xxxxxxx Xxxxxxxx, President and CEO
By: /s/Xxx Xxxxxx
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