Third Amendment to Amended Employment Agreement between Peregrine Systems, Inc. and Kenneth A. Sexton
This amendment updates the employment agreement between Peregrine Systems, Inc. and Kenneth A. Sexton. Effective October 1, 2004, Mr. Sexton will serve as Executive Vice President and Chief Financial Officer until October 31, 2004. All other terms of the original agreement remain unchanged. Both parties have agreed to these revised terms by signing the amendment.
Exhibit 10.1
October 28, 2004
Mr. Kenneth A. Sexton
RE: Third Amendment to Amended Employment Agreement
Dear Ken:
This letter sets forth the agreement between you and Peregrine Systems, Inc. (the “Company”) to amend the terms of the Amended Employment Agreement between you and the Company, effective as of June 24, 2002, as amended on April 5, 2004 and July 30, 2004 (the “Amended Employment Agreement”), as set forth herein.
Effective as of October 1, 2004, the Amended Employment Agreement is hereby amended such that Section 1 of the Amended Employment Agreement is deleted in its entirety and replaced with the following:
“Employment. The Company hereby employs the Employee as Executive Vice President and Chief Financial Officer of Peregrine to perform such duties as are customarily performed by the Executive Vice President and Chief Financial Officer of a company, and the Termination Date shall be October 31, 2004.”
Other than as set forth herein, the terms and conditions of your Amended Employment Agreement shall remain unchanged and in full force and effect. Please acknowledge your agreement with the foregoing by executing this letter in the space provided below.
|
| Sincerely, | ||
|
|
| ||
|
| /s/ John Mutch |
| |
|
| John Mutch | ||
|
| Chief Executive Officer | ||
|
|
| ||
| Acknowledged and agreed |
| ||
| to as of October 28, 2004 |
| ||
|
|
| ||
|
|
| ||
| /s/ Ken Sexton |
|
| |
| Ken Sexton |
| ||
