FIRST AMENDMENT TO EMPLOYMENT AGREEMENT Ronald R. Bailey
Exhibit D
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT, is made effective as of the date set forth below
and is by and between Trinsic, Inc. (“Trinsic” or “Company”), a Delaware corporation having its
principal place of business at 000 Xxxxx Xxxxxxx Xxxxxx Xxxxxxxxx, Xxxxx 000, Xxxxx, Xxxxxxx
00000, and Xxxxxx X. Xxxxxx (the “Employee”).
WHEREAS, The Employee and Trinsic have entered into an employment agreement dated
effective as of August 15, 2005
WHEREAS, the Employee and Trinsic desire to amend said Employment Agreement.
NOW THEREFORE, the Employee and Trinsic agree to amend the employment agreement by deleting
section 3.1 entitled Base Salary in its entirety and replacing it as follows:
3.1 Base Salary. As compensation for the services to be rendered by Executive, the Company
shall pay Executive, during the Term of this Agreement, an annual base salary of not less than Two
Hundred Thousand dollars($200,000), which base salary shall accrue monthly (prorated for periods
less than a month) and shall be paid in accordance with the Company’s standard payroll practices.
The base salary will be reviewed annually, or, more frequently, as appropriate, by the Board of
Directors for upward, but not downward, adjustment in its sole discretion.
IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date set
forth below.
| Trinsic, Inc., | ||||||
| A Delaware corporation | ||||||
| By: | /s/ Xxxxxx X. “Xxxx” Xxxxx | |||||
| Xxxxxx J. “Xxxx” Xxxxx | ||||||
| Chief Executive Officer | ||||||
| DATE effective: September 19, 2005 | ||||||
| /s/ Xxxxxx X. Xxxxxx | ||||||
| Xxxxxx X. Xxxxxx | ||||||
