Executive Agreement [Amendment No. 1] - Datawatch Corp. and Marco D. Peterson
AMENDMENT NO. 1 TO EXECUTIVE AGREEMENT
This AMENDMENT NO. 1 TO EXECUTIVE AGREEMENT (the "Amendment") dated as
of July 15, 1999 is made by and between Datawatch Corporation, a Delaware
corporation (the "Corporation") and Marco D. Peterson (the "Executive").
WITNESSETH:
A. The Corporation and the Executive entered into an Executive
Agreement dated as of April 11, 1996 (the "Executive Agreement").
B. The Corporation and the Executive desire to amend the Executive
Agreement as set forth herein.
NOW, THEREFORE, the Corporation and the Executive hereby agree as
follows:
1. Proviso (ii) of Section 1 of the Executive Agreement is hereby
amended to replace the phrase "eighteen (18) months" with the
phrase "twelve (12) months".
2. Proviso (B) of Section 6 of the Executive Agreement is hereby
amended to replace the phrase "eighteen (18) months" with the
phrase "twelve (12) months".
3. Except as amended hereby, the terms and conditions of the
Executive Agreement shall remain unchanged and in full force and
effect, and are hereby ratified and confirmed in all respects.
4. This Amendment may be executed in one or more counterparts, and
shall be construed by the laws of the United States of America and
the Commonwealth of Massachusetts.
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IN WITNESS WHEREOF, the Executive has hereunto set his hand and,
pursuant to the authorization from its Board of Directors, the Corporation has
caused this Amendment to be executed in its name and on its behalf, and its
corporate seal to be hereunto affixed and attested by its Secretary, or
Assistant Secretary, all as of the day and year first above written.
(SEAL)
ATTEST: DATAWATCH CORPORATION
By:/s/ William B. Simmons, Jr. By: /s/ Bruce R. Gardner
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Name: William B. Simmons, Jr. Name: Bruce R. Gardner
Title: Assistant Secretary Title: President and Chief Executive
Officer
WITNESS: EXECUTIVE:
By:/s/ Betsy J. Hartwell By: /s/ Marco D. Peterson
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Name: Betsy J. Hartwell Marco D. Peterson