Amendment to Employment Agreement between George Bokuchava and HomeCom Communications, Inc.

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between George Bokuchava and HomeCom Communications, Inc. If Mr. Bokuchava is terminated for any reason other than cause, including during a change in control, he will receive nine months of salary as severance. "Cause" is defined as willful misconduct, gross negligence causing significant harm, or felony conviction. "Change in control" includes sale, liquidation, bankruptcy, or significant changes to the Board of Directors. The amendment is subject to approval by the Company's Board of Directors.

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EX-10.87 5 0005.txt EMPLOYMENT AGREEMENT HARVEY SAX Direct Dial: (404) 237-4646 x140 E-mail: ***@*** January 10, 2001 George Bokuchava 3189 Parkridge Crescent Chamblee, GA 30341 Re: Amendment to Employment Agreement of George Bokuchava ("Employee") with HomeCom Communications, Inc. (the "Company") George: Upon receipt of approval from the Board of Directors of the Company, your employment agreement shall be amended as follows: o In the event of termination for any reason other than for cause, including a constructive termination during a change in control, you will receive nine (9) months salary as severance payable at the time of termination. o For the purposes of this agreement, "cause" shall be defined as the occurrence of any of the following events: (a) willful misconduct or grossly negligent conduct by Employee which causes significant harm to the Company; or (b) conviction of the Employee of a felony. o For the purposes of this agreement, "change in control" shall be defined as (a) the Sale of the Company; (b) a liquidation or dissolution of the Company; (c) a declaration of bankruptcy by the Company under the federal bankruptcy laws; or (d) the cessation for any reason of individuals who, as of the date hereof, constitute the Board of Directors to constitute at least a majority of the Board of Directors, other than Directors who are appointed to the Board by the current sitting Board to replace a resigning member of the Board of Directors. Sincerely, HOMECOM COMMUNICATIONS, INC. By: ______________________ Harvey Sax President and CEO