EXHIBIT 10.61




                        Baldwin Technology Company, Inc.
                                12 Commerce Drive
                                  P.O. Box 901
                             Shelton, CT 06484-0941
                                Tel: 203-402-1000
                                Fax: 203-402-5500


                                 August 13, 2002



Mr. Gerald A. Nathe
11448 Bronzedale Drive
Oakton, VA 22124


Dear Mr. Nathe:


         Pursuant to Paragraph 18 of our agreement dated March 19, 2001 as
amended on February 26, 2002 (the "Agreement") which sets forth the terms of
your employment with Baldwin Technology Company, Inc. (the "Company"), the
Agreement is hereby changed, effective August 13, 2002, as follows:

         (1) Paragraph 2D of the Agreement is changed by deleting that Paragraph
in its entirety, and inserting in its place the following:

                  D. Deferred Compensation. You shall be paid, at such times as
                  are set forth in this Agreement, annual deferred compensation
                  of one hundred one thousand seven hundred eighteen and 60/100
                  dollars ($101,718.60), which on a monthly basis is eight
                  thousand four hundred seventy-six and 55/100 dollars
                  ($8,476.55) (the "Monthly Amount"). The Monthly Amount shall
                  be paid monthly, to you


                  or your estate, as the case may be, beginning on the day set
                  forth in this Agreement, for a period of one hundred eighty
                  (180) months or the period ending with the month of your
                  death, whichever is longer. In this regard, if you die after
                  the date on which you first become entitled to payment of the
                  Deferred Compensation, whether or not the first payment of the
                  Monthly Amount has been made, and prior to the payment of the
                  Monthly Amount for one hundred eighty (180) months, the
                  Monthly Amount shall be paid monthly for the balance of such
                  one hundred eighty (180) month period to the beneficiary or
                  beneficiaries designated by you in writing to the Company, or,
                  if none are designated, to your estate.

         (6) Paragraph 3B(i) of the Agreement is changed by deleting that
paragraph in its entirety, and inserting in its place the following:

                  (i) In order to facilitate your purchase of three hundred
                  fifteen thousand one hundred forty-four (315,144) shares of
                  the Company's Class B Common Stock, par value $.01 per share
                  (the "Class B Stock"), the Company, on November 30, 1993,
                  loaned to you one million eight hundred seventeen thousand
                  three hundred twenty-one dollars and sixteen cents
                  ($1,817,321.16) (the "Loan"). The Loan was made pursuant to a
                  Loan and Pledge Agreement dated November 30, 1993, which was
                  amended on November 25, 1997, and further amended on February
                  26, 2002, and which is being amended effective August 13, 2002
                  by an Amended and Restated Loan and Pledge Agreement. The Loan
                  was evidenced by a demand promissory note dated November 30,
                  1993 (the "Note"), which was replaced by an amended demand
                  promissory note dated February 26, 2002 (the "Amended Note")
                  in


                  the principal amount of one million five hundred thousand
                  dollars ($1,500,000.00). The Amended Note is being replaced
                  effective August 13, 2002 by an amended demand promissory note
                  (the "Second Amended Note") in the principal amount of seven
                  hundred fifty thousand dollars ($750,000.00). The Second
                  Amended Note bears interest, payable annually, at a rate equal
                  to five percent (5%) per annum effective August 13, 2002. If
                  your employment under this Agreement terminates for any reason
                  other than death or for "cause," as the term "cause" is
                  defined in Paragraph 9C hereof, the Company will not demand
                  payment of the outstanding principal of or accrued interest on
                  the Second Amended Note for a period of six (6) months after
                  such termination, or for a period of twelve (12) months after
                  termination of your employment in the case of your death.
                  Notwithstanding anything to the contrary contained in this
                  Paragraph, at any time that you sell any of the shares of
                  Class B Stock while any amount of the Second Amended Note
                  remains unpaid, you shall, within five (5) days of receipt of
                  the funds from such sale, pay to the Company, in repayment of
                  part or all, as the case may be, of the Second Amended Note,
                  an amount equal to five dollars and seventy-seven cents
                  ($5.77) times the number of shares of the Class B Stock so
                  sold, but not in excess of the unpaid balance of the Second
                  Amended Note, plus interest as set forth in the Second Amended
                  Note, on the amount so repaid to the extent that such interest
                  accrued to the date of such repayment.





         As so changed by this letter agreement, the Agreement shall remain in
full force and effect.

                                        Very truly yours,

                                        BALDWIN TECHNOLOGY COMPANY, INC.


                                        By:
                                             John T. Heald, Jr.
                                             Its President and CEO

AGREED TO AND ACCEPTED:



Gerald A. Nathe