Amendment to Employment Agreement between CDT Ltd and Michael Black
This amendment updates Michael Black's employment terms with CDT Ltd, effective March 22, 2007. His job title changes to Chief Financial Officer, his annual salary increases to £140,000, and he is granted 20,000 additional restricted stock units. All other terms of his original employment agreement remain unchanged. Michael Black must sign the letter to confirm his acceptance of these changes.
STRICTLY PERSONAL & CONFIDENTIAL
23 March 2007
Michael Black
Finance
Dear Michael,
I am delighted to confirm that, with effect from 22 March 2007, your job title will change to Chief Financial Officer and your salary will be increased to 140,000 pounds sterling per annum.
In addition, you have been awarded an additional 20,000 restricted stock units in the Company. You will receive a separate letter confirming the details of this award.
All other terms and conditions remain unchanged by this amendment to your salary, and job title. These changes to your contract of employment will be effective from 22 March 2007.
I should be grateful if you would sign the attached copy of this letter as confirmation of your acceptance of these changes to your terms and conditions of employment.
Yours sincerely
David Fyfe
Chief Exe cutive Officer
I accept the change to my terms and conditions of employment with CDT Ltd, as detailed above.
Signed ............/s/ Michael Black......................................................... Date ....03/23/2007..................
Michael Black