Amendment to Robin Marsden Employment Agreement by Sage

Summary

This letter amends Robin Marsden's employment contract with Sage to clarify that the company may terminate employment or materially reduce responsibilities or compensation at any time, with or without cause. The amendment aligns Marsden's contract with those of other executives. The agreement is effective upon Marsden's acceptance and signature.

EX-10.3.A 3 y85446exv10w3wa.txt LETTER AMENDING ROBIN MARSDEN EMPLOYMENT AGREEMENT EXHIBIT 10.3(A) [SAGE LETTERHEAD] November 11, 2002 R.I. Marsden c/o 300 Atlantic Street, Suite 302 Stamford, CT 06901 Dear Robin, CLARIFYING AMENDMENT TO EMPLOYMENT CONTRACT I hereby confirm that your existing employment contract is altered to bring it into line with more recent executive contracts. In particular, the first paragraph under Section 10.4 ("Termination by the Company without Cause") is enhanced to include material reduction in compensation, to read as follows: "The Company expressly reserves the right to terminate the employment, or materially reduce the responsibilities or compensation, of Executive at any time for no reason or for any reason." If you are in agreement with the updated terms of employment, please sign below and return one copy. Yours truly, H. Louis Shill Accepted: /s/ Robin I. Marsden ---------------------- Chairman Date: 11/15/02 ---------------------- cc: Karen Kindermann, Director of Human Resources