SEC Contract Filing

Filing Date: 2022-02-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.29
<SEQUENCE>7
<FILENAME>secondamendmenttoemploymen.htm
<DESCRIPTION>SECOND AMENDMENT EMPLOYMENT AGREEMENT - HOUGH
<TEXT>
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<title>Document</title></head><body><div id="i654e1decc022400aad7dce4e340f8c1e_58"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit 10.29</font></div></div><div style="margin-bottom:24pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">SECOND AMENDMENT TO EXECUTIVE AGREEMENT</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">This Second Amendment to Executive Agreement (this &#8220;Amendment&#8221;) is executed as of November 12, 2021, by and between Citrix Systems, Inc., a Delaware corporation (the &#8220;Company&#8221;), and Paul J. Hough (the &#8220;Executive&#8221;). </font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">WHEREAS, the Company and the Executive are parties to a certain Executive Agreement dated as of January 19, 2017, as amended by the First Amendment to Executive Agreement dated October 11, 2021 (the &#8220;Executive Agreement&#8221;)&#59;</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">WHEREAS, the Company and the Executive desire to enter into this Amendment, effective November 15, 2021 (the &#8220;Effective Date&#8221;), to foster a smooth and effective change in product leadership at the Company&#59; and</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">WHEREAS, capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Executive Agreement. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements of the parties herein contained, which the parties agree constitute good and valuable consideration, the parties hereto agree as follows&#58; </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:27pt">A new Section 1(c) of the Executive Agreement is hereby added&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(c)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Position and Duties</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">. Commencing on November 15, 2021 (the &#8220;Amendment Effective Date&#8221;), the Executive shall transition from serving as Executive Vice President, Chief Product Officer of the Company to serving as Advisor to the Company&#8217;s Chief Executive Officer (&#8220;CEO&#8221;). As Advisor to the CEO, the Executive shall render advice as requested by the CEO. The Executive shall devote his full working time and efforts to the business and affairs of the Company&#59; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:100%">provided</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> that he shall not be obligated to and shall not undertake to perform responsibilities for the Company except as requested by the CEO.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:27pt">A new Section 1(d) of the Executive Agreement is hereby added&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(d)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Base Salary</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">. The Executive&#8217;s annual base salary rate as of the date immediately preceding the Amendment Effective Date is $525,000 (the &#8220;Previous Base&#8221;). Beginning effective as of the Amendment Effective Date, the Executive&#8217;s annual base salary rate is $100,000 (t