AMENDMENT
AMENDMENT, of the employment agreement by and between ENVIROTEST SYSTEMS
CORP., a Delaware corporation (the "Company") and XXX X. XXXX, (the
"Employee") dated January 1, 1996 (the "Agreement"), made as of the 21st day
of April, 1998.
WITNESSETH:
WHEREAS, the Company and the Employee entered into the Agreement on January
1, 1996; and
WHEREAS, the Company and the Employee mutually agree to amend certain terms
and conditions of the Agreement.
NOW, THEREFORE, the parties hereby agree to amend the Agreement effective as
of the date this Amendment is entered into, as follows:
1. Section 1(b) of the Agreement shall be amended to read in its
entirety as follows:
"The employment of the Employee by the Company hereunder shall commence
as of the date hereof and, unless sooner terminated in the manner herein
provided, shall terminate on the fourth anniversary hereof (the "Term")."
2. Section 8(b) of the Agreement shall be amended to read in its
entirety as follows:
"If (i) the Company terminates the employment of the Employee during the
Term other than for "cause" (as defined in Paragraph 8(a) of this
Agreement), or (ii) during the Term there is a change of control of the
Company and the successor entity (or purchaser) does not accept an
assignment of this Agreement, or (iii) the terms of the Employee's
employment are materially adversely changed or duties or
responsibilities are materially diminished, following a change of
control or otherwise (including, by way of example and not by
limitation, by reason of the Employee ceasing to be a Vice President and
Chief Financial Officer of the Company), or (iv) a change of control
occurs, as a result of which the Company ceases to have any
publicly-traded equity securities, whereupon, in the case of clauses
(ii), (iii) and (iv), the Employee shall have the right to consider his
employment hereunder to have been terminated by the Company by giving
written notice to
the Company within 10 business days after the date on which the Employee
believes that such adverse change has occurred, the action(s)
constituting such adverse change or diminution, and the fact that he is
terminating this Agreement pursuant to this Paragraph 8(b)(iii), then
(A) the Company shall retain Employee and Employee agrees to serve as a
consultant to the Company for the longer of the remainder of the Term or
twenty-four (24) months ("Consulting Period"); (B) the Employee's
Options shall vest as set forth in Section 4(b) above; and (C) the
Employee shall be entitled to continue to receive (1) on the same
schedule as was in existence prior to such termination payment of his
base salary and all other benefits to which he is entitled for the
Consulting Period and (2) the pro rata portion of any bonus earned by
the Employee for the final year in which the termination occurred."
/s/ Xxxxxxx X. Xxxxxxxxx
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ENVIROTEST SYSTEMS CORP.
/s/ Xxx X. Xxxx
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XXX X. XXXX
Dated: of April, 1998