the Company secures financing subsequent to the date of this Agreement

 

                                                                   Exhibit 10.32

                            NUWAVE ENGINEERING, INC.
                               One Passaic Avenue
                           Fairfield, New Jersey 07004

                                                     June 3, 1996

Mr. Robert I. Webb
198 Stanton Mountain Road
Lebanon, New Jersey  08833

         Re:      Amendment to Employment Agreement dated September 11,
                  1995 between NUWave Engineering, Inc. and Robert I. Webb
                  (the "Employment Agreement")
                  --------------------------------------------------------

Dear Mr. Webb:

         This letter is to confirm our agreement that Section 2 of the
Employment Agreement is amended in its entirety to read as follows:

                  "2. Salary and Options. Your salary will be $5,000 per month
         as of the Effective Date. Your salary shall be subject to a
         discretionary increase to be determined by the Company's President if
         the Company secures financing subsequent to the date of this Agreement
         in an amount of $1,750,000 or more (the "Additional Financing"). You
         shall receive options to purchase 70,000 shares of the Company's common
         stock as of the date of this Agreement, vesting in accordance with the
         terms of the related Option Agreement."

         Except as hereby modified, all other terms and conditions of the
Employment Agreement shall remain unchanged and in full force and effect.

         Please acknowledge your consent to the foregoing by signing the
duplicate copy of the Amended Employment Letter enclosed.

                                             Very truly yours,

                                             NUWAVE ENGINEERING, INC.

                                             By: /s/ Gerald Zarin
                                                 ----------------------------
                                                 Gerald Zarin, President
Acknowledged and Agreed to:

/s/ Robert I. Webb
- -----------------------------
Robert I. Webb   June 3, 1996 

Basic Info X:

Name: the Company secures financing subsequent to the date of this Agreement
Type: the date of this Agreement
Date: July 3, 1996
Company: Turnaround Partners, Inc.
State: Delaware

Other info:

Date:

  • September 11 , 1995
  • June 3 , 1996

Organization:

  • NUWave Engineering , Inc.

Location:

  • Fairfield
  • Stanton Mountain Road Lebanon
  • New Jersey

Money:

  • $ 5,000
  • $ 1,750,000

Person:

  • Gerald Zarin
  • Robert I. Webb