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Exhibit 10.1
PREMIERE GLOBAL SERVICES, INC.
SECOND AMENDMENT TO
FOURTH AMENDED AND RESTATED
EXECUTIVE EMPLOYMENT AGREEMENT
This Second
Amendment to the Fourth Amended and Restated Executive Employment
Agreement (the “Second Amendment”) is made and entered
into by and between PREMIERE GLOBAL SERVICES, INC. , a
Georgia corporation (the “Company”), and BOLAND T.
JONES (the “Executive”), dated as of December 21,
2007.
BACKGROUND STATEMENT:
WHEREAS
, the Company and the Executive entered into that certain Fourth
Amended and Restated Executive Employment Agreement on April 18,
2005, to be effective as of January 1, 2005, which agreement was
further amended on September 15, 2006 (the “Original
Agreement”); and
WHEREAS
, the Compensation Committee of the Board of Directors of the
Company and the Executive have determined that it is in their best
interests to amend the Original Agreement as set forth herein to
include special provisions intended to ensure compliance with
Internal Revenue Code Section 409A relating to deferred
compensation;
NOW,
THERERFORE , in consideration of and reliance upon the
foregoing and other good and valuable consideration, the adequacy
and sufficiency of which are hereby acknowledged, the Company and
the Executive hereby amend the Original Agreement as
follows:
1. The last two
sentences in Section 2.5 of the Original Agreement are hereby
amended and restated as follows:
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As a condition to the
payment of the Severance Amount, the Executive will sign a release
and waiver of claims in substantially the form set forth in Exhibit
A hereto (the “Release”). The Release must be signed
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