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EXHIBIT 10.7
AMENDMENT TO
EMPLOYMENT AGREEMENT
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MAY 25, 2000
THIS AMENDMENT is made as of May 25, 2000 ("Commencement Date"), and is by and
between Getty Images, Inc. (the "Company") and A.D. "Bud" Xxxxxx (the
"Employee").
WHEREAS the Company and the Employee desire to amend the Employment Agreement
dated October 11, 1999 (the "Agreement");
THEREFORE the Company AND the Employee agree to delete Section 3 (a) in its
entirety and replace it as follows:
3. (a) SALARY. The Company shall pay to the Employee an annual salary
(the "Salary") at the initial rate of Two Hundred Fifty Thousand Dollars
($250,000.00), payable to the Employee in accordance with the normal payroll
practices of the Company for its employees as are in effect from time to time.
The amount of the Employee's Salary shall be reviewed annually by the Company on
or about April 1 of each year during the Term beginning in the 2000 calendar
year.
IN WITNESS WHEREOF, Getty Images, Inc. and A.D. "Bud" Xxxxxx have caused this
Amendment to be executed as of the Commencement Date.
GETTY IMAGES, INC. A.D. XXXXXX
By:
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Xxxxxxxx Xxxxx, CEO A.D. Xxxxxx
Date:
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