Amendment to Employment Agreement between Proxim Corporation and Richard J. Tallman

Summary

This amendment updates the employment agreement between Proxim Corporation and Richard J. Tallman. It changes Mr. Tallman's job title to Senior Vice President, Administration and General Counsel, adjusts his base salary to $240,000 per year, and sets his target bonus at no less than 60% of his base salary. All other terms of the original agreement remain unchanged. The amendment is effective as of June 15, 2004.

EX-10.76 9 f02505exv10w76.txt EXHIBIT 10.76 EXHIBIT 10.76 AMENDMENT TO EMPLOYMENT AGREEMENT THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the "Amendment") is made by and between Proxim Corporation, a Delaware corporation (the "Company") and Richard J. Tallman ("Executive"). The Company and Executive are parties to an Employment Agreement of October 27, 2003 (the "Agreement"), and they now wish to amend the Agreement in certain respects. Accordingly, the Company and Executive now agree as set forth below. 1. Section 2a of the Agreement is deleted in its entirety and replaced with the following: "While employed hereunder, Executive shall serve as the Company's Senior Vice President, Administration and General Counsel. In such position, Executive shall have such duties and authority, as shall be determined from time to time by the Chief Executive Officer of the Company (the "CEO")". 2. Executive's "Base Salary", as set forth in Section 3 of the Agreement, shall be increased to $240,000 per annum. 3. Executive's "Target Bonus", as set forth in Section 4 of the Agreement, shall not be less than 60% of his Base Salary. Except as modified by this Amendment, the Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date(s) set forth below. EFFECTIVE AS OF JUNE 15, 2004 /s/ Richard J. Tallman -------------------------- Richard J. Tallman PROXIM CORPORATION By: /s/ Franco Plastina ------------------------ Its: Chief Executive Officer