EXHIBIT 10.3
AMENDMENT TO EMPLOYMENT AGREEMENT
This document amends that certain Employment Agreement ("Agreement")
made as of the 1st day of June, 2000, by and between Xxxxxx Technologies, Inc.
(hereinafter called the "Company") and Xxxxxx Xxxxxxxx (hereinafter called the
"Employee"), and Exhibit B thereto, as amended the 22nd day of August, 2001,
effective upon the Closing Date (as defined in the Asset Purchase Agreement
among Xxxxxx Technologies, Inc., Xxxxxx Solutions, Inc. and Abiliti Solutions,
Inc. dated October 7, 2002).
1. Separation Benefit. The following is added as a Separation
Benefit to be provided under Section 4(C)(3):
a. A cash amount equal to the Employee's pro rata Bonus,
if such Bonus is deemed earned, payable at such time
as bonuses for the annual period are paid to other
executive officers of DTI.
2. Separation Period. The parties hereto agree that the
definition of "Separation Period" [Section 4(D)(4) of Exhibit
B of the Agreement] will be replaced with the following
effective as of the date of execution hereof:
a. The term "Separation Period" shall mean twelve (12)
months.
3. For Good Reason. DTI will pay Employee Separation Benefits in
the event Employees terminates employment as a result of a
material breach by DTI of any material provision of this
Agreement that is not cured within thirty (30) days following
written notice by Employee to DTI of such breach.
4. Vacation. Employee shall receive a minimum of four (4) weeks
of paid vacation annually, to be taken at times mutually
agreeable to President of DTI and Employee.
5. Target Bonus. Employee shall be eligible to receive an annual
bonus of up to 35% of her Base Salary for each fiscal year.
The bonus will be at the discretion of the Board and based
upon a combination of goals determined by the compensation
committee of the Board for personal objectives as well as DTI
performance compared to its strategic objectives for the
fiscal year.
6. Notice of Termination. Employee's employment may be terminated
by either party upon thirty (30) days prior written notice.
7. Disability Benefits. In the event that Employee becomes
Disabled, as defined herein, then DTI may terminate Employee's
employment and Employee shall be entitled to the following:
a. A cash amount equal to his Base Salary earned to the
date of termination, plus for the first six (6)
months after Employee is terminated due to the
disability, Employee shall be entitled to his then
Base Salary less any amounts paid to Employee under
any disability insurance policy provided by DTI; and
b. A cash amount equal to the Employee's pro rata Bonus,
if such Bonus is deemed earned, payable at such time
as bonuses for the annual period are paid to other
executive officers of DTI.
All other provisions of the Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have hereunto set forth their
signatures as of this 7th day of October, 2002.
EMPLOYEE: COMPANY:
Xxxxxx Technologies, Inc.
/s/ Xxxxxx Xxxxxxxx /s/ Xxxxx Xxxxxx
------------------- ----------------
Xxxxxx Xxxxxxxx Xxxxx Xxxxxx, President and CEO
