First Amendment to Employment Agreement between Company and Sherice P. Bench
This amendment updates the employment agreement between the company and Sherice P. Bench, originally dated December 16, 1996. It changes the severance terms so that if Sherice's employment is terminated by the company without cause, she will receive 39 bi-weekly payments based on her average bi-weekly compensation from the previous two years, minus required withholdings. All other terms of the original agreement remain unchanged.
Exhibit 10.12
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Friday, July 02, 1999
Sherice P. Bench
3396 South Eldorado
Austin, Texas 78734
| RE: | Employment Agreement dated December 16, 1996 |
Dear Sherice:
In accordance with our agreement, and effective immediately, your above referenced Employment Agreement is hereby amended as follows:
Paragraph 6.2, the first sentence is hereby replaced in its entirety as follows:
In the event of the termination of Executive’s employment under this Agreement by the Company at any time during or at the end of the initial or any extended term of this agreement without Cause as defined in Paragraph 6.1 above, Executive will be entitled to receive 39 bi-weekly payments equal to the average of his bi-weekly compensation in effect within the two years preceding the termination (including, for these purposes, average bi-weekly compensation of Executive from the Company’s predecessors) (“Termination Payments”), less legally required withholdings.
All other terms and conditions of the Agreement remain unchanged.
| Sincerely, |
| /s/ Robert F. Amter |
| Robert F. Amter President |
| Agreed and accepted: | ||||
| /s/ Sherice P. Bench | 7/2/99 | |||
| Sherice P. Bench | Date | |||
| POSTAL BOX 149107 | AUSTIN, TX 78714-9107 | (512) 444-0571 |
