AMENDMENT TO EMPLOYMENT AGREEMENT

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EX-10.1 2 a101amendmenttoemploymenta.htm AMENDMENT TO EMPLOYMENT AGREEMENT - MICHAEL BARTH 10.1 Amendment to Employment Agreement - Michael Barth








AMENDMENT TO EMPLOYMENT AGREEMENT

THIS AMENDMENT TO EMPLOYMENT AGREEMENT, dated as of June 1, 2014 (the “Amendment”) by and among DSIT SOLUTIONS LTD. (“DSIT”), ACORN ENERGY, INC., a Delaware corporation (with its successors and assigns, referred to as the “Corporation”) and MICHAEL H. BARTH, hereinafter referred to as “Barth.”

Preliminary Statement

DSIT and Barth previously entered into an Employment Agreement dated as of August 1, 2009 (the “Agreement”), as the same may have been amended, pursuant to which the Corporation reimburses DSIT for 75% of the salary and benefits payable to Mr. Barth thereunder. DSIT, the Corporation and Mr. Barth desire to amend the Agreement as set forth herein.

Agreement

The parties therefore agree as follows:

1.
Restoration of Prior Reduction in Contribution from the Corporation. The Corporation reimburses DSIT for 75% of Barth’s salary (the “Acorn Component”) and related costs. Effective January 1, 2014, the Acorn Component (and accordingly Barth’s salary) was reduced by $10,000 per annum (the “Reduction”). The parties now wish to restore the Reduction and hereby agree that effective June 1, 2014, the Acorn Component (as in effect following the Reduction) shall be increased by $10,000 per annum (thereby increasing Barth’s salary by such amount).

2.
Ratification. The parties hereby ratify and confirm the terms of the Agreement as amended hereinabove.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

/s/                    DSIT SOLUTIONS, LTD.
Michael H. Barth
                    
By:             /s/            
Benny Sela
Title: President & CEO

ACORN ENERGY, INC.

By:             /s/            
John A. Moore
Title: President & CEO