Exhibit 10.01

 

 

November 14, 2005

 

 

Addendum to Employment Agreement

 

Subramanian Sundaresh

 

 

Dear Sundi:

 

On behalf of the Board of Directors, I am pleased to offer you the position of
President and Chief Executive Officer effective November 14, 2005.  You will
also join Adaptec’s Board of Directors.

 

Over the past six months you demonstrated much leadership and we are very
confident that you will successfully fulfill all expectations and requirements
of the role.  Your new base rate of pay will be $400,000 per year and your
Adaptec Incentive Plan (AIP) will be targeted at 85%.

 

Please sign this letter, indicating acceptance of your promotion.  I wish you
continued success in your career at Adaptec.

 

Sincerely,

 

/s/ Shirley Olerich

 

 

Shirley Olerich

Vice President of Human Resources

 

 

Accepted:

/s/ Subramanian Sundaresh

 

  11/14/05

 

Employee Signature

 Date

 

 

INIT:

 

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