First Amendment to Employment Agreement between Barry Diamond and SED International, Inc.
This amendment updates the employment agreement between Barry Diamond and SED International, Inc., effective November 11, 1999. The main change is an increase in Mr. Diamond's annual base salary to $175,000. All other terms of the original agreement remain unchanged and in effect until the agreement ends or is further amended.
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (the "First Amendment"), dated as of November 11, 1999 (the "Effective Date"), is by and between Barry Diamond ("Employee") and SED International, Inc., a Georgia corporation (the "Company");
WITNESSETH:
WHEREAS
, Employee and the Company desire to continue the employment relationship established by the Employment Agreement dated as of June 1, 2001 between Employee and the Company (the "Agreement"), with certain modifications to the terms of that relationship; and
WHEREAS
, Employee and the Company desire to memorialize those modifications in this First Amendment;
NOW THEREFORE
, in consideration of the mutual promises and covenants contained herein, the Agreement is hereby modified and amended as follows:1. Section 2 of the Agreement is amended by deleting the first sentence of the existing Section a and adding the following sentence in its place:
(a) Employee's annual base salary during the term of this Agreement shall be $175,000.00.
Except as modified, amended, or deleted herein, all other provisions of the Agreement shall continue in full force and effect until the termination or expiration of the Agreement as amended herein.
IN WITNESS WHEREOF
, the parties hereto have signed this FIRST AMENDMENT TO EMPLOYMENT AGREEMENT as of the date first above written.Employee:
_______________________________ (SEAL)
Barry Diamond
Company:
SED INTERNATIONAL, INC.
By: __________________________________
Name: Mark Diamond
Title: President and COO
(CORPORATE SEAL)
