Modification to Section 6. 1. Section 6.1(m) is hereby deleted in its entirety and replaced with the following:
Modification to Section 6. The provisions of Section 6(c) are hereby amended as follows: · In the initial instance of clause (iii), at the end of clause (iii) before the semicolon the following text is inserted: provided that such reduction is otherwise material (for this purpose, a reduction in base salary with an annualized value of one and one half percent (1.5%) of Employee’s the current annual base pay or more shall be deemed material); and provided further that, in each such case, Employee shall have given notice to the Company that the event or condition referred to in clause (i), (ii) or (iii) has arisen within ninety (90) days after such event or condition has arisen, and the event or condition has continued uncured for a period of more than thirty (30) days after Employee has given such notice thereof to the Company (in addition to any other right of the Company to cure), and Employee has terminated employment for that reason within eighteen (18) months after such uncured event or condition has arisen. The provisions of Section I.2(C) of the CiC Amendment setting forth the definition of “Good Reason” are hereby amended as follows: · In clause (i), the term “reduction in Employee’s salary” is replaced by the term “material reduction in Employee’s salary”, and the term “reduction in Employee’s target bonus opportunity” is replaced by the term “material reduction in Employee’s target bonus opportunity”, and at the end of clause (i) before the semicolon the following text is inserted: provided, however, that a reduction in salary and/or target bonus opportunity with an annualized value of one and one half percent (1.5%) of Employee’s the current annual base pay or more in the aggregate, taking into account any related effect a salary reduction has on target bonus and other components of compensation, shall be deemed material; · The final proviso of Section I.2(C) of the CiC Amendment is deleted and in its stead is inserted the following: provided that, in each such case, Employee shall have given notice to the Company that such event or condition has arisen within ninety (90) days after such event or condition has arisen, and the event or condition has continued uncured for a period of more than thirty (30) days after Employee has given such notice thereof to the Company, and Employee has terminated employment for Good Reason within eighteen (18) months after such uncured event or condition has arisen.
Modification to Section 6. 9. Section 6.9 of the Loan Agreement is hereby amended and restated to read as follows:
Modification to Section 6. 1. The following is substituted in place and stead of Section 6.1 of the Loan Agreement:
Modification to Section 6. The provisions of Section 6(c) are hereby amended as follows: · After the initial instance of clause (ii) in Section 6(c), before the period, insert the following: provided that, in such case, Employee shall have given notice to the Company that the event or condition referred to in clause (i) or (ii) has arisen within ninety (90) days after such event or condition has arisen, and the event or condition has continued uncured for a period of more than thirty (30) days after Employee has given such notice thereof to the Company, and Employee has terminated employment for that reason within eighteen (18) months after such uncured event or condition has arisen. The provisions of Section I.2(C) of the CiC Amendment setting forth the definition of “Good Reason” are hereby amended as follows: · In clause (i), the term “reduction in Employee’s salary” is replaced by the term “material reduction in Employee’s salary”, and the term “reduction in Employee’s target bonus opportunity” is replaced by the term “material reduction in Employee’s target bonus opportunity”, and at the end of clause (i) before the semicolon the following text is inserted: provided, however, that a reduction in salary and/or target bonus opportunity with an annualized value of one and one half percent (1.5%) of Employee’s then current annual base pay or more in the aggregate, taking into account any related effect a salary reduction has on target bonus and other components of compensation, shall be deemed material; · The final proviso of Section I.2(C) of the CiC Amendment is deleted and in its stead is inserted the following: provided that, in each such case, Employee shall have given notice to the Company that such event or condition has arisen within ninety (90) days after such event or condition has arisen, and the event or condition has continued uncured for a period of more than thirty (30) days after Employee has given such notice thereof to the Company, and Employee has terminated employment for Good Reason within eighteen (18) months after such uncured event or condition has arisen.
Modification to Section 6. 9(b) -- “Immaterial Subsidiary.” The definition of “Immaterial Subsidiary” set forth in the third to last paragraph of Section 6.9(b) is deleted and is replaced in its entirety with the following:
Modification to Section 6. 1. Section 6.1 of the Loan Agreement is hereby amended in its entirety to read as follows, which amendment shall be deemed effective as of February 25, 1999:
Modification to Section 6. Section 6 of the Cash Management Agreement shall be modified by deleting Section 6(a)(vii) and replacing it with the following provision (and adding new Sections 6(a) (viii) and (ix)):
Modification to Section 6. 1. The Parties hereby confirm that Section 6.1(a) of the Purchase Agreement shall be removed and replaced with the following language.
