FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This First Amendment to Employment Agreement (the "First Amendment")
is dated this 16th day of August, 1999, by and between XxxxxxxXxxxxxxxxxx.xxx
Inc., a Delaware corporation (the "Company"), and Xxxxx Xxxxxx (the
"Executive").
WHEREAS the Company and the Executive have executed that certain
Employment Agreement dated August 16,1999 relating to the employment of
Executive as the President, Media, of the Company (the "Base Agreement"); and
WHEREAS the parties hereto desire to amend the Base Agreement in
accordance with the provisions of Section 11.5 thereof.
NOW, THEREFORE, BE IT RESOLVED that the Base Agreement is hereby
amended as follows:
1. The first full sentence of subsection 3.4.1. is hereby
amended to read in its entirety as follows:
"3.4.1. Pursuant to one or more stock option agreements (hereafter
referred to as the "Stock Option Agreement") dated the date
hereof, the Company shall grant to Executive stock options,
under and pursuant to the Company's 1999 Stock Option Plan,
to purchase one thousand seven hundred fifty (1,750) shares
of its common stock, $.01 par value ("Common Stock"), at a
price of Two Thousand Eighty-Five Dollars ($2,085) per
share."
2. Subsection 3.4.2. is hereby deleted in its entirety. All
references in the Base Agreement to Section 3.4.2. are hereby
deleted.
3. The balance of the Base Agreement shall remain in full force
and effect from and after the date hereof.
IN WITNESS WHEREOF the parties hereto have duly executed this
Agreement as the date first above written.
XXXXXXXXXXXXXXXXXX.XXX INC.
By: /s/ Xxxxxxx Xxxxx
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Its: President
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XXXXX XXXXXX
Signature: /s/ Xxxxx Xxxxxx
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