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EXHIBIT 10.3
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT is dated as of March 31, 2000
and is to amend an Employment Agreement dated as of October 7, 1999 between
ACE*COMM Corporation and Xxxxx Xxxxxx.
WHEREAS the parties intend to amend Xx. Xxxxxx'x Employment Agreement
to cause the acceleration of vesting of certain options to purchase Common Stock
of the Company under certain circumstances.
NOW THEREFORE, the parties agree as follows:
The following sentence in Sections 7.3(B) and 7.4(A):
In addition, if the effective date of termination is before
March 3, 2000, 29,500 of the Option Shares shall be
accelerated to become exercisable as of the effective date of
termination.
shall be amended to read as follows:
In addition, if the effective date of termination is before
October 7, 2000, 59,000 of the Option Shares (and if the
effective date of termination is on or after October 7, 2000,
29,500 of the Option Shares) shall be accelerated to become
exercisable as of the effective date of termination.
IN WITNESS WHEREOF, the parties have executed or caused to be executed
this Amendment on the date first above written.
ACE*COMM Corporation
By:
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Xxxxxx Xxxxxxx
Chairman of the Board
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Xxxxx Xxxxxx
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