Exhibit 10.1.2
Addendum #2 to the
EMPLOYMENT AND SEPARATION AGREEMENT
This employment agreement addendum #2 ("Agreement") made effective March 24,
2004, by and between DURASWITCH INDUSTRIES, INC., a Nevada corporation,
("DuraSwitch"), and Xxxxxx X. Xxxxxx ("Employee").
Xx. Xxxxxx'x current employment contract has a Term of Employment stated as
April 30, 2004. Xx. Xxxxxx and DuraSwitch are currently negotiating the terms
of an employment agreement anticipated to have a Term of Employment through
December 31, 2007.
Xx. Xxxxxx'x Term of Employment (Section 2.1) and Profit Incentive Bonus
(Section 15.1) shall be extended for one year to April 30, 2005 and December 31,
2005, respectively.
As a definition clarification to the agreement Article II, 1.3 (A) in the event
of a takeover as defined it is hereby clarified that the condition of "Xx.
Xxxxxx is asked to leave" is assumed to occur upon any change of position or
salary decrease, not mutually agreed upon, subsequent to or in contemplation
of a takeover.
IN WITNESS WHEREOF, the undersigned execute this Agreement to be effective on
the date herein written.
/s/Xxxxxx X. Xxxxxx
______________________
Xxxxxx X. Xxxxxx
DURASWITCH INDUSTRIES, INC.,
a Nevada corporation
By: /s/ Xxxxxxx X. Xxxxxx
____________________________
Xxxxxxx X. Xxxxxx
/s/ Xxxx Xxxx
______________
Xxxx Xxxx
Its: Compensation Committee Members
