Amendment to Employment Agreement between Wire One Technologies, Inc. and Christopher Zigmont

Summary

Wire One Technologies, Inc. and Christopher Zigmont have agreed to amend Zigmont's employment agreement. Effective August 5, 2002, his base salary will be reduced to $190,000 per year through December 31, 2002, and then set at $213,750 per year for 2003. This change is intended to help improve the company's financial condition and is consistent with similar salary reductions for other executives. All other terms of the original employment agreement remain unchanged.

EX-10.5 7 d51271_ex10-5.txt AMENDMENT TO CHRISTOPHER ZIGMONT EMP. AGMT. Exhibit 10.5 Wire One Technologies, Inc. 225 Long Avenue Hillside, New Jersey 07205 July 30, 2002 Mr. Christopher Zigmont c/o Wire One Technologies, Inc. 27 Roulston Road Windham, NH 03087 Dear Chris: This letter, when accepted by you, shall constitute an amendment to the employment agreement (the "Agreement"), dated January 2, 2001, between Wire One Technologies, Inc. (the "Company") and you. The Company and you hereby agree as follows: 1. The Company has requested that, to contribute to an improvement in the Company's financial condition and for no other reason, you agree, as an amendment to paragraph 2(a) of the Agreement, to reduce your base salary compensation thereunder so as to be payable at the rate of (a) $190,000 per annum during the period commencing on August 5, 2002, through December 31, 2002, and (b) $213,750 per annum during the period commencing on January 1, 2003, through December 31, 2003. In consideration of the agreement by several other of the Company's executives to salary reductions similar in nature, you hereby agree to the salary reduction set forth in the preceding sentence. 2. Except as modified hereby, the Agreement remains in full force and effect. Yours very truly, WIRE ONE TECHNOLOGIES, INC. By: /s/ Jonathan Birkhahn ---------------------------- Jonathan Birkhahn ACCEPTED: /s/ Christopher Zigmont - ---------------------------- Christopher Zigmont