Exhibit 10.3

 

AMENDMENT TO EMPLOYMENT AGREEMENT

 

This amendment is made and entered into as of this 7th day of July 2005 by and
between Allin Corporation, a Delaware corporation (“Employer”) and Dean C.
Praskach (“Employee”), a resident of Pennsylvania.

 

WHEREAS, Employer and Employee entered into an employment agreement (the
“Agreement”) as of June 23, 2000 and as amended on February 13, 2001 and
December 8, 2004 and now desire to amend that Agreement by mutual consent.

 

NOW, THEREFORE, in consideration of the mutual promises and agreements herein
contained and intending to be legally bound hereby the parties do hereby agree
as follows:

 

Section 3(e) of the Agreement is hereby amended and restated as follows:

 

(e) Stock Options. Employee acknowledges receipt of options to purchase stock of
Employer under Employer’s Stock Plans. The options vest ratably at 20% per year
on the anniversary of issuance; however, all options granted to Employee that
have not previously expired or been terminated will become fully vested on the
date on which (i) Employer sells all or substantially all of its assets, (ii)
Employer merges with another entity in a transaction in which Employer is not
the surviving corporation, or (iii) any person or group of affiliated persons
other than the shareholders of Employer as of January 1, 2001 owns or controls
40% or more of Employer. Any or all of these occurrences are deemed to be a
“Change of Control.” At the sole discretion of Employer’s Board of Directors,
additional options may be issued to Employee; however, Employer’s Board of
Directors is under no obligation to grant to Employee additional options, and
any such options granted will be governed by the terms of the option award
agreement to be entered into between Employer and Employee at or about the time
of any such future option grant.

 

In all other respects, the terms and conditions of the Agreement are ratified
and confirmed.

 

    ALLIN CORPORATION        

/s/ Richard Talarico

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    By:   Richard Talarico, Chairman WITNESS:        

/s/ Robert V. Fulton

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/s/ Dean Praskach

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Robert V. Fulton       Dean Praskach