AMENDMENT OF EMPLOYMENT LETTER AGREEMENT

EX-10.70 7 dex1070.htm JOHN ZAVOLI AMENDMENT OF EMPLOYMENT LETTER AGREEMENT John Zavoli Amendment of Employment Letter Agreement

Exhibit 10.70

 

AMENDMENT OF

EMPLOYMENT LETTER AGREEMENT

 

This instrument amends the employment letter agreement dated October 16, 2002 between Path 1 Network Technologies Inc. and John R. Zavoli.

 

The “Severance Agreement” item therein is amended to read in full as follows:

 

Severance Agreement: Twelve months severance in the form of salary and benefit continuation in case of termination by Path 1 for any reason other than cause. Subject to this severance arrangement, you shall be an “at-will” employee and your employment can be terminated at any time by Path 1, or by you, for any reason or for no reason.

 

Dated: May 11, 2004

PATH 1 NETWORK TECHNOLOGIES INC.
By:   /S/    JOHN ZAVOLI
   

(Upon authority of the Compensation

Committee, by action taken May 10, 2004)

/S/    JOHN ZAVOLI

JOHN R. ZAVOLI