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EXHIBIT 10.25
BALDWIN TECHNOLOGY COMPANY, INC.
2 Trap Falls Road, Suite 402 Tel: 203 402 1000
Shelton, CT
06484-0941 Fax: 203
402 5500
USA
www.baldwintech.com
September 25, 2008
Mr. Akira Hara
2-43-15-401 Den-en-chofu
Ohta-ku, Tokyo
145-0071 Japan
Dear Akira,
Pursuant to Paragraph 11 of the Strategic Advisory Agreement (the
"Agreement")
between Baldwin Technology Company, Inc. and you dated October 19,
2003, both
parties hereby mutually agree to modification of the Agreement as
follows:
Paragraph 2 is amended so that the term of the Agreement shall not
continue
indefinitely but shall terminate on September 30, 2010, provided,
however, that
either party may terminate the Agreement prior to that date at any
time, with or
without cause, by giving the other party 180 days notice in advance
of
termination in accordance with the provisions of Paragraph 12 of
the Agreement.
If BTI elects to terminate the Agreement without good and
substantial cause
prior to September 30, 2010, BTI shall cause BJL to pay the
Strategic Adviser a
cancellation fee equal to the total outstanding and unpaid amount
of the
Retainer Fee that would have been payable had the Agreement
remained in force
through September 30, 2010, along with any earned but unpaid
Project Fees, as
defined in Paragraph 3 of the Agreement.
Paragraph 3 is amended to provide that, effective October 1, 2008,
there shall
be a forty (40%) percent reduction in the annual retainer from the
current Six
Million Seven Hundred and Twenty Thousand (JPY6,720,000) Japanese
Yen to Four
Million Thirty-Two Thousand (JPY4,032,000) Japanese Yen. The
parties agree that
there have been no adjustments for inflation to the annual retainer
since the
Agreement was first signed. The parties retain the right to make
such
adjustments in the futu
