EXHIBIT 10.18
AMENDMENT TO EMPLOYMENT AND COMPENSATION AGREEMENTS
THIS AMENDMENT TO EMPLOYMENT AND COMPENSATION AGREEMENTS (the
"Amendment") is made and entered into as of this 11th day of September, 1997
by and among the individuals whose names appear on the signature page hereof
(the "Parties") and Power-One, Inc., a Delaware corporation (the "Company")
and amends each of such Parties' respective Employment and Compensation
Agreement, as amended, that such Party has entered into with the Company.
The Parties and the Company each wish to amend their respective
Employment and Compensation Agreement as set forth herein in order to better
express the current intentions of the Parties.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged by the Parties and the Company,
the Parties and the Company each agree that they are hereby amending their
respective Employment and Compensation Agreement by eliminating from each
agreement any and all rights of such Party to "put" their stock ownership to
the Company.
Except as expressly modified by the provisions of this Amendment,
each Employment and Compensation Agreement shall remain unchanged and in full
force and effect.
This Amendment may be executed in one or more counterparts, all of
which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by each party and
delivered to each party.
1
IN WITNESS WHEREOF, the Parties and the Company have executed this
Amendment as of the date first set forth above.
POWER-ONE, INC.
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By: Xxxxxx Xxxxxxx
Title: Chief Executive Officer
(executing on behalf of the Company with
respect to each agreement except his own
agreement)
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By: Xxxxx X. Xxxxxxx
Title: Chief Financial Officer
(executing on behalf of the Company with
respect to Xx. Xxxxxxx'x agreement)
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Xxxxxx Xxxxxxx
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Xxxxx X. Xxxxxxx
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Xxxxxx Xxxxx
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Xxxx Xxxxxxx
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Xxxxx Xxxx
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Xxxxx Xxxx
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Xxxx Xxxxxxx
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