SEC Contract Filing

Filing Date: 2017-03-13

Document Content:
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<TYPE>EX-10.11
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<FILENAME>ex1011.htm
<DESCRIPTION>EXHIBIT 10.11
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<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">Exhibit 10.11</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-TOP: 1.45pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">FIRST AMENDMENT TO EMPLOYMENT AGREEMENT</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 4.3pt; TEXT-INDENT: 20.9pt">This First Amendment to Employment Agreement (this "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Amendment</u></font>") dated as of January 9, 2017 (the "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Effective Date</u></font>") is by and among Evans &amp; Sutherland Computer Corporation, a Utah corporation ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>E&amp;S</u></font>") and Kirk D Johnson ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>You</u></font>" or the "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Executive</u></font>").</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 4.3pt; TEXT-INDENT: 20.9pt">WHEREAS, you and E&amp;S entered into that certain <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Employment Agreement, dated September 2, 2016 (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Agreement</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">"); and</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 4.3pt; TEXT-INDENT: 20.9pt">WHEREAS, the parties hereto desire to amend the Agreement on the terms and conditions set forth herein.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 4.3pt; TEXT-INDENT: 20.9pt">NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</div>

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<div style="MARGIN-BOTTOM: 12pt; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Definitions</u></font>.&#160; Capitalized terms used and not defined in this Amendment have the respective meanings assigned to them in the Agreement.</font></div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">2.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Amendment to the Agreement</u></font>. As of the Effective Date, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Section 1(a)</u></font> of the Agreement shall be amended by deleting the second sentence in its entirety and replacing it with the following:</font></div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.25">"In such position, you will have the duties and authority consistent with the duties and authority of a president and chief operating officer of a public company in the information technology industry of a size comparable to E&amp;S."</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Date of Effectiveness; Limited Effect</u></font>. This Amendment is effective as of the Effective Date. Except as expressly provided in this Amendment, all of the terms and provisions of the Agreement are and will remain in full force and effect, and are hereby ratified and confirmed by the parties hereto. Without limiting the generality of the foregoing, the amendments contained herein will not be construed as an amendment to or waiver of any other provision of the Agreement or as a waiver of or consent to any further or future action on the part of either party hereto that would require the waiver or consent of the other party. On and after the Effective Date, each reference in the Agreement to "this Agreement," "the Agreement," "hereunder," "hereof," "herein" or words of like import will mean and be a reference to