Amendment to Employment Agreement between Baldwin Technology Company, Inc. and Gerald A. Nathe (July 30, 2005)

Summary

This amendment updates the employment agreement between Baldwin Technology Company, Inc. and Gerald A. Nathe. It changes Mr. Nathe's title, increases his salary and monthly compensation, extends certain agreement dates to November 15, 2007, updates the company's notice address, and provides a $75,000 signing bonus to Mr. Nathe. All other terms of the original agreement remain in effect. The amendment is effective as of July 1, 2005, and was accepted by Mr. Nathe on August 17, 2005.

EX-10.2 3 a4958168ex10_2.txt EXHIBIT 10.2 Exhibit 10.2 ------------ Baldwin Technology Company, Inc. 2 Trap Falls Road Suite 402 Shelton, CT ###-###-#### Tel: 203 ###-###-#### Fax: 203 ###-###-#### July 30, 2005 Mr. Gerald A. Nathe 11448 Bronzedale Drive Oakton, VA 22124 Dear Mr. Nathe: Pursuant to Paragraph 18 of our agreement dated March 19, 2001, as amended by our subsequent agreements dated February 26, 2002, August 13, 2002 and July 11, 2003 (the "Agreement"), which sets forth the terms of your employment with Baldwin Technology Company, Inc. (the "Company"), the Agreement is hereby further amended, effective July 1, 2005, as follows: 1. Each of Paragraph 1, Paragraph 9D(i), and Paragraph 9D(v) of the Agreement are amended by deleting "Chairman of the Board, President and Chief Executive Officer", and inserting in its place "Chairman of the Board and Chief Executive Officer". 2. Paragraph 2(D) of the Agreement is amended by deleting "one hundred one thousand seven hundred eighteen and 60/100 dollars ($101,718.60)" and inserting in its place "one hundred fifteen thousand dollars ($115,000.00)." 3. Paragraph 2(D) of the Agreement is amended by deleting "eight thousand four hundred seventy-six and 55/100 dollars ($8,476.55)" and inserting in its place "nine thousand five hundred eighty-three and 33/100 dollars ($9,583.33)." 4. Paragraph 9(E)(i) of the Agreement is amended by deleting "August 5, 2003" and inserting in its place "November 15, 2007". 5. Paragraph 9(G) of the Agreement is amended by deleting "August 5, 2005" and inserting in its place "November 15, 2007". 6. Paragraph 19 of the Agreement is amended by changing the address to which notices to the Company shall be given to the following: Baldwin Technology Company, Inc. 2 Trap Falls Road Suite 402 Shelton, CT 06484 Facsimile: 203 ###-###-#### 7. As an inducement to amend and extent the Agreement, the Company shall pay to you a signing bonus of seventy-five thousand dollars ($75,000.00) within fourteen (14) days of your signing this letter agreement. As so amended by this letter agreement, the Agreement shall remain in full force and effect. Very truly yours, BALDWIN TECHNOLOGY COMPANY, INC. By: /s/ Judith A. Mulholland ------------------------------------------- Judith A. Mulholland Chair, Audit Committee AGREED TO AND ACCEPTED ON AUGUST 17, 2005: /s/ Gerald A. Nathe - ------------------------- Gerald A. Nathe -2-