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EXHIBIT 10.16
EXTENSION
AGREEMENT
This EXTENSION AGREEMENT (this
“Agreement”) is made and entered into as of May 23,
2003 by and between Captaris, Inc. (herein “Company”)
and Jeffrey B. deCillia (herein
“Executive”).
The Company desires to retain the services of
Executive to continue in the role of Chief Financial Officer and
assist in the transition of the role of Chief Financial Officer
(herein “CFO”).
The Executive is agreeable to such extension in
exchange for the compensation detailed below.
Timing:
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The Executive
agrees to make himself available beginning July 1, 2003 to assist
the Company in this transition.
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Company
recognizes that Executive was taking out of town vacation from
August 4 to August 14, 2003. Given that Executive will need to be
available to aid in the preparation and filing of the second
quarter 2003 10Q, Company will consider this time period as
Executive working remotely in recognition of Executive making
himself available to assist in this filing effort.
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The extension
period continues until terminated by either
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