50 of the Top 250 law firms use our Products every day
Amendment
to
Executive Employment
Letter
This Amendment (“Amendment”) to that
certain Employment Letter Agreement, dated as of April 23, 2006, by
and between ICO Global Communications (Holdings) Limited and Craig
Jorgens (“Agreement”) is made as of the 30th day of
December, 2008 (“Effective Date”) by and between ICO
Global Communications (Holdings) Limited (“ICO”), and
Craig Jorgens (“Executive”), ICO and Executive each a
“Party” and collectively, the
“Parties”). Capitalized terms used herein
without definition shall have the meanings given to such terms in
the Agreement.
In
consideration of the mutual promises and covenants set forth herein
and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereby
agree as follows:
|
|
Exhibit
A . Exhibit A
attached hereto, is incorporated into the Agreement.
|
|
|
Counterparts. This Amendment may be executed in
two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the
same instrument.
|
|
|
Continuing
Effect . With the
exception of this Amendment, the remaining provisions of the
Agreement remain unchanged.
|
IN WITNESS WHEREOF, the Parties have executed
this Amendment as of the Effective Date.
|
ICO Global
Communications (Holdings) Limited
|
|
Craig
Jorgens
|
|
|
|
|
|
|
|
|
|
|
|
|
|
/s/ J. Timothy
Bryan
|
|
/s/ Craig
Jorgens
|
|
|
By:
|
J. Timothy
Bryan
|
|
By:
|
Craig
Jorgens
|
|
|
Title:
|
|
|
|
|
|
Exhibit A
The language in
Section 1.1 below is hereby added to the Agreement:
|
|
|
Section
409A; Deferred Compensation .
|
|
|
|
Delay in
Payment . Notwithstanding anything in the
Agreement to the contrary, if Executive is deemed by ICO at the
time of Executive’s “separation from service”
with ICO to be a “specified employee,” any non-exempt
deferred compensation which would otherwise be payable hereunder
shall not be paid until the date which is the first business day
following the six-month period after Executive’s separation
from service (or if earlier, Executive’s
death). Such delay in payment shall only be effected
with respect to each separate payment of non-exempt deferred
compensation to
|
|
