EXHIBIT 10.1
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT
This Amendment No. 1 to Employment Agreement (this "AMENDMENT") is
entered into as of the 1st day of November, 2006, by and between Xxx.xxx, Inc.,
a Minnesota corporation (the "COMPANY") and Xxxxxxx X. Xxxxxx ("EXECUTIVE").
RECITALS
A. Company and Executive are parties to that certain Employment
Agreement dated as of July 28, 2005 (the "AGREEMENT").
B. Company and Executive desire to amend the provisions of the
Agreement on the terms and conditions set forth herein.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and Executive agree as
set forth below.
1. AMENDMENT TO EXHIBIT 1 - BASE SALARY. The "Base Salary"
section of Exhibit 1 of the Agreement is hereby amended and restated in its
entirety to read as follows:
"Base Salary: $275,000, commencing November 1, 2006."
2. REMAINING TERMS RATIFIED. Except as expressly amended or
modified herein, all terms and conditions of the Agreement are hereby ratified,
confirmed and approved and shall remain in full force and effect. In the event
of any conflict or inconsistency between this Amendment and the Agreement, this
Amendment shall govern.
3. CHOICE OF LAW. The validity, interpretation, construction and
performance of this Amendment shall be governed by the laws of the State of
Georgia, without giving effect to the principles of conflict of laws.
4. COUNTERPARTS. This Amendment may be executed in counterparts,
each of which shall be deemed an original, but all of which together will
constitute one and the same instrument.
[SIGNATURE PAGE FOLLOWS.]
-1-
In witness whereof, the parties have executed this Amendment as of the date
first set forth above.
Company: Employee:
XXX.XXX, INC.
By: /s/ Xxxxxxx X. Xxxxxx
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Title:_______________________ Xxxxxxx X. Xxxxxx
