Amendment to Employment Agreement between Wire One Technologies, Inc. and Michael Brandofino (July 30, 2002)

Contract Categories: Human Resources › Employment Agreements
Summary

Wire One Technologies, Inc. and Michael Brandofino have agreed to amend Brandofino's employment agreement to temporarily reduce his base salary for the years 2002, 2003, and 2004. The salary adjustments are intended to help improve the company's financial condition and are in line with similar reductions accepted by other executives. All other terms of the original employment agreement remain unchanged.

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EX-10.6 8 d51271_ex10-6.txt AMENDMENT TO MICHAEL BRANDOFINO EMP. AGMT. Exhibit 10.6 Wire One Technologies, Inc. 225 Long Avenue Hillside, New Jersey 07205 July 30, 2002 Mr. Michael Brandofino c/o Wire One Technologies, Inc. 225 Long Avenue Hillside, NJ 07205 Dear Mike: 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) $185,250 per annum during the period commencing on August 5, 2002, through December 31, 2002, (b) $213,750 per annum during the period commencing on January 1, 2003, through December 31, 2003 and (c) $223,250 per annum during the period commencing on January 1, 2004, through December 31, 2004. 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/ Michael Brandofino - ---------------------------- Michael Brandofino