Amendment to Employment Agreement between Authentidate Holding Corp. and O’Connell Benjamin (October 31, 2014)
This amendment modifies the employment agreement between Authentidate Holding Corp. and O’Connell Benjamin. It extends the deadline for both parties to agree on a renewal of Benjamin’s employment contract to November 30, 2014. If no new agreement is reached by that date, Benjamin’s employment will end, and he will receive severance, accrued compensation, and continuation benefits. All other terms of the original employment agreement remain unchanged.
EXHIBIT 10.3
October 31, 2014
SENT VIA EMAIL AND FEDEX
Mr. OConnell Benjamin
Dear Ben:
By your signature below, you agree that Section 9.3(e) of your employment agreement with Authentidate Holding Corp. dated September 30, 2013, as amended by that certain letter agreement dated September 26, 2014 (collectively, the Employment Agreement), is hereby further modified so as to extend the time within which Authentidate and you must reach agreement on a renewal of your contract to avoid the automatic termination of your employment, to November 30, 2014. Section 9.3(e) as modified shall read as follows:
e. In the event the Company fails to notify the Employee in accordance with Section 8.2, or after notifying the Employee fails to reach an agreement on a new employment agreement prior to November 30, 2014, Employees employment shall terminate on November 30, 2014, and the Company shall pay the Employee the Severance Payment; Accrued Compensation, and the Continuation Benefits.
Except as expressly modified and superseded by this Amendment, the terms, covenants, representations, warranties and other provisions of the Employment Agreement are and shall continue to be in full force and effect in accordance with their respective terms. After the date hereof, all references to this Employment Agreement, this Agreement and phrases of similar import, shall refer to the Employment Agreement, as amended hereby.
Very truly yours,
/s/ Charles C. Lucas
Charles C. Lucas,
Chairman, Management Resources and Compensation Committee
Agreed and accepted: |
/s/ OConnell Benjamin |
OConnell Benjamin |