Amendment to Employment Agreement Regarding Severance for Mark Whiteside by BSQUARE Corporation
BSQUARE Corporation, through its Board of Directors, has amended the employment agreement of Mark Whiteside, Senior Vice President of Professional Services. The amendment removes the previous requirement that severance payments be reduced by one month's salary for each full month of advance termination notice given. This change means that Mark will now receive full severance payments regardless of the amount of advance notice provided by the company. The amendment applies to all executive officers of the company.
Exhibit 10.13(b)(1)
August 7, 2013
Mark Whiteside
Senior Vice President, Professional Services
Dear Mark:
This letter is to notify you that the Board of Directors has approved a change to the severance component of your employment agreement with the company. Previously, your agreement stated: “If BSQUARE Corporation gives you at least a full month’s advance notice of termination, however, the severance payments shall be reduced by one month’s salary for each full month of advance termination notice given”.
The Board approved the following change in your employment agreement:
AMENDMENT TO EMPLOYMENT LETTER AGREEMENTS
RESOLVED, that the Committee hereby approves an amendment to the Employment Letter Agreement for each of the Company’s executive officers to delete the requirement that such executive officer’s severance payments be reduced by one month’s salary for each full month of advance termination notice given to such executive officer; and
RESOLVED FURTHER, the Committee hereby recommends that the Board approve the foregoing amendment to the Employment Letter Agreement for each of the Company’s executive officers.
Please let me know if you have any questions. I hope that you will be pleased with this change.
Regards,
| /s/ Brian Crowley |
| Brian Crowley President and CEO |
110 110th Ave. NE., Suite 200, Bellevue, Washington 98004 Toll Free: 888 ###-###-#### Main: +1 ###-###-#### Fax: +1 ###-###-####
