Letter Agreement Amending Separation Payment to Ms. Hamilton between Company and Ms. Hamilton

Contract Categories: Human Resources › Separation Agreements
Summary

This letter, dated August 31, 2011, confirms that the Company will pay Ms. Hamilton $550,000 instead of the previously agreed $525,000 under the Separation Agreement dated August 25, 2011. The increased amount reflects Ms. Hamilton's current annual base salary at the time of the agreement. The payment will be made on the originally scheduled date. The letter is addressed to Howard J. Rubin, Esq., and is signed by the Company's Interim General Counsel.

Read More Arrow
EX-10.X 2 ex10_x.htm EXHIBIT 10.X ex10_x.htm
Exhibit 10.x
 
 
 
Date: August 31, 2011
 
Howard J. Rubin, Esq.
Davis & Gilbert LLP
1740 Broadway
New York, NY 10019
 
Dear Mr. Rubin,
 
This will confirm that, notwithstanding the provision in paragraph 3(a) of the Separation Agreement dated August 25, 2011, that specifies a payment to Ms. Hamilton of $525,000, the Company will instead pay to Ms. Hamilton on the date fixed for such payment an amount equal to $550,000 in recognition of the fact that the latter amount represented her current annual base salary at the date of the Separation Agreement.
 
Sincerely yours,
 
 
Louis L. Ainsworth
Interim General Counsel

c:
Joseph W. Armbrust, Sidley & Austin
Bob Ries, MTS