SECOND EXTENSION AGREEMENTExtension Agreement |
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CAPTARIS INC | Jeffrey B. deCillia. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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EXHIBIT 10.18
SECOND EXTENSION AGREEMENT
This SECOND EXTENSION AGREEMENT (this “Agreement”) is made and entered into as of June 27, 2003 by and between Captaris, Inc. (herein “Company”) and Jeffrey B. deCillia (herein “Executive”).
This agreement extends and modifies the June 27th, 2003, Extension Agreement and modifies the June 27th, 2003, Separation Agreement previously entered into by the Company and the Executive.
The Company desires to retain the services of Executive, as an employee, in a non-titled subordinate role to assist the Company, and specifically the CEO, President of the Products Group and the incoming CFO, with certain transition items.
The Executive is to resign his role as CFO, Secretary and Corporate Officer (and any other subsidiary related roles) as of September 15, 2003, or sooner if requested by the Company.
The Executive is agreeable to such extension in exchange for the compensation and other conditions detailed below.
Extension Timing and Responsibilities:
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The Executive agrees to make himself available to assist the Company with Project Tequila related transition items such as: |
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Assist in Deal Preparation and Negotiation as needed including due diligence, information gathering, financial modeling, legal, etc. |
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Assist in space planning and implementation as needed including sub-lease negotiations |
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Assist with Divisional/Corporate functional split, team assessment and planning, transition efforts (including any potential staff reductions) |
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Assisting new CFO with forecasting post event |
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Divestiture in lieu of sale should need arise |
