Amendment to Employment Agreement between Gigabeam Corporation and Douglas G. Lockie (September 26, 2006)
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Summary
Gigabeam Corporation and Douglas G. Lockie have agreed to amend their original employment agreement dated July 12, 2004. Effective September 26, 2006, Mr. Lockie’s annual base salary will be reduced by 50% due to the company’s current financial situation. All other terms of the original agreement remain unchanged.
EX-10.3 4 v053997_ex10-3.htm Unassociated Document
Exhibit 10.3
AMENDMENT TO EMPLOYMENT AGREEMENT DATED JULY 12, 2004
This 26th date of September, 2006, GIGABEAM CORPORATION, a Delaware corporation, with its corporate headquarters located at 470 Springpark Place, Suite 900, Herndon, Virginia, 20170, its successors and assigns (hereinafter collectively referred to as “Company”), and DOUGLAS G. LOCKIE, an individual residing at 19267 Mountain Way, Los Gatos, California, 95030 (“Executive”), taking into consideration certain current financial exigencies affecting the Company, and intending to be legally bound hereby, agree to amend the Employment Agreement of July 12, 2004 between them, as follows:
Effective September 26, 2006, the annual base salary provided for in Paragraph 4(a) of the Employment Agreement shall be reduced by fifty (50%) percent.
IN WITNESS WHEREOF, the parties have executed and delivered this amendment, as of the date first above written.
| GIGABEAM CORPORATION | ||
| | | |
| By: | /s/ Louis S. Slaughter | |
| Louis S. Slaughter | ||
| Chief Executive Officer and Chairman of the Board | ||
| DOUGLAS G. LOCKIE | ||
| /s/ Douglas G. Lockie | ||
