Exhibit 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
---------------------------------
This Amendment to Employment Agreement (this "Amendment") is
entered
into on January 14, 2007, by and between Rick Friedman (the
"Executive") and
Ultratech, Inc., a Delaware corporation (the "Company"), and shall
be effective
as of January 12, 2006 (the "Effective Date").
WITNESSETH:
WHEREAS, the Executive is currently a party to an employment
agreement
with the Company dated February 3, 2006 (the "Employment
Agreement");
WHEREAS, the Executive has resigned, effective as of December 14,
2006,
his position as Senior Vice President, World-wide Sales and
Customer Service of
the company and, effective as of January 14, 2007, his employment
with the
Company.
WHEREAS, both the Company and the Executive desire to enter into
a
Separation and General Release Agreement to obtain the mutual
benefits provided
therein; and
WHEREAS, the Company and the Executive desire to amend and restate
the
terms and conditions of the Employment Agreement so as to set forth
the terms
and conditions which will govern his employment, and separation
from employment,
with the Company following the Effective Date.
NOW, THEREFORE, in consideration of the mutual promises and
covenants
contained herein, the Company and the Executive agree as
follows:
1. Amendments to
Employment Agreement
a.
Resignation.
Section 2 of the
Employment Agreement
is hereby amended
by adding the following sentence at the end of Section 2:
"Executive hereby
irrevocably
resigns from his employment in any
capacity with the Company and any of its affiliates, effective
January
14, 2006."
b.
Delayed
Commencement
Date for Payments and
Benefits. Section 6.2
is
hereby amended by
adding the following
paragraph immediately
after
Section 6.2(iv):
"Notwithstanding any
provision to the contrary in this Agreement, no
payments or benefits to which t
