SECOND AMENDMENT
TO CONSULTING AND NON-COMPETITION AGREEMENT
This Second Amendment to Consulting and Non-Competition Agreement is made
and entered into as of the 30th day of June, 2000, between Blonder Tongue
Laboratories, Inc., a Delaware corporation (the "Company") and Xxxxx X. Xxxxxxxx
("Consultant").
BACKGROUND
The Company and Consultant are parties to a certain Consulting and
Non-Competition Agreement (the "Agreement") dated as of January 1, 1995, as
amended. The parties desire to amend the Agreement, effective as of the date
hereof, in accordance with the terms and conditions set forth below.
Accordingly, in consideration of the mutual covenants herein contained, and
of the mutual benefits herein provided, and intending to be legally bound
hereby, the Company and Consultant hereby agree as follows:
1. Section 1 of the Agreement is amended and restated in its entirety
as follows:
The Company hereby retains Consultant who agrees to serve on the
terms and conditions herein set forth. Subject to termination as
hereinafter provided, the initial term of this Agreement shall
commence on January 1, 1995 and end on December 31, 2004 and shall
thereafter automatically renew from year to year (each a renewal term)
unless and until terminated by written notice of either party to the
other, given at least ninety (90) days prior to the expiration of the
then-current renewal term. The period from January 1, 1995 through
December 31, 2004 or any extended date of termination, as the case may
be, is hereinafter referred to as the "Consulting Period".
2. The first two sentences of Section 3 of the Agreement are hereby
amended and restated in their entirety as follows:
During the Consulting Period, the Company shall pay Consultant
consulting fees at the annual rate of $150,000, payable in equal
consecutive monthly installments. Such fees shall be increased from
time to time on a basis consistent with the relative adjustments to
base cash compensation for the senior executive officers of the
Company, but in no event shall such fees exceed Two Hundred Thousand
Dollars ($200,000) per year.
3. Section 5(a)(i) of the Agreement is hereby amended and restated in
its entirety as follows:
(i) the close of business on December 31, 2004 or any later date
to which this Agreement shall have been extended by mutual agreement
of the parties:
4. Section 7(b) of the Agreement is amended and restated in its
entirety as follows:
(b) If to Consultant, to:
Xx. Xxxxx X. Xxxxxxxx
0000 X. Xxxxx Xxxx
Xxxxx Xxxxxx, XX 00000
5. Subject to the modifications set forth above, the Agreement shall
remain in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the undersigned have executed this Second Amendment to
Consulting and Non-Competition Agreement as of the date first above written.
BLONDER TONGUE LABORATORIES, INC.
/s/ Xxxxx X. Xxxxxxxx By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxxxx Xxxxx X. Xxxxxx, President
