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AMENDMENT NO. 1 TO THE EMPLOYMENT
AND NONCOMPETITION AGREEMENT
THIS AMENDMENT to
the Employment and Noncompetition Agreement is made effective this
23 RD
day of December, 2008, by and
between TechTeam Global, Inc. (the “Company”), and
Margaret M. Loebl (the “Executive”).
WHEREAS , the Company and the Executive entered into an
Employment and Noncompetition Agreement effective as of
October 7, 2008 (the “Agreement”); and
WHEREAS , the parties desire to amend the Agreement to
comply with the requirements of Section 409A of the Internal
Revenue Code of 1986, as amended.
NOW, THEREFORE , for and in consideration of the premises
and mutual covenants contained herein, and for other good and
valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, and subject to the terms and conditions
hereinafter set forth, the parties hereto agree as
follows:
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1.
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Effective on the date hereof, the
Agreement is amended as follows:
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a. The penultimate
sentence of Section 3(f) is amended to read as follows:
Further, the
Company shall provide the Executive with reasonable executive
outplacement services for a period of up to nine (9) months
beginning on the Executive’s Termination Date through a
recognized outplacement provider that is agreed to by the Company
and the Executive.
b. Section 3
is amended to re-designate the subsection “ Date of
Termination
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