This Employment Agreement Amendment involves
Title: FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Industry: Communications Services Sector: Services
This Amendment to the Employment Agreement, effective as of September 2, 2008 (the “Employment Agreement”), by and between AboveNet, Inc. (the “Company”) and Rajiv Datta (the “Employee”) is effective as of January 25, 2011 (this “Amendment”).
WHEREAS, the Company and the Employee are parties to the Employment Agreement, whose term is scheduled to expire on November 16, 2011 (the “Term”);
WHEREAS, the parties wish to extend the Term of the Employment Agreement to December 31, 2011;
WHEREAS, the parties also wish to clarify the terms of entitlement to the annual bonus being earned over the calendar year performance period;
WHEREAS, the parties also wish to amend Employee’s title from Senior Vice President and Chief Technology Officer to Chief Operating Officer; and
WHEREAS, the parties also wish to increase Employee’s Base Salary to $400,000;
NOW THEREFORE, the Employment Agreement is hereby amended as follows:
1. Section 1 of the Employment Agreement shall read as follows:
(a) The Company hereby agrees to employ the Employee, and the Employee hereby agrees to serve, as Chief Operating Officer during the Term (as defined below).
(b) The term (the “Term”) of the Employee’s employment hereunder will commence on the Effective Date and, unless sooner terminated as provided in Section 6 hereof, will terminate at the end of the day on December 31, 2011. The Term shall be automatically extended unless sooner terminated as provided herein, for successive additional one-year periods, unless at least 120 days prior to the end of Term, the Company or the