AMENDMENT TO
EMPLOYMENT AGREEMENT
AMENDMENT dated October __ 1998 to Employment Agreement made as of the 26th
day of February, 1998, by and between Xxxxxx Xxxxxxxxxxx, residing at 000 Xxx
Xxxxxx Xxxx, Xxx Xxxxxx, Xxx Xxxxxx 00000. (hereinafter referred to as the
"Employee") and The Rattlesnake Holding Company, Inc., a Delaware corporation
with principal offices located at 000 Xxxx 00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000
(hereinafter referred to as the "Company").
W I T N E S S E T H:
WHEREAS, the parties entered into an Employment Agreement dated February
26, 1998; and
WHEREAS, the parties desire to amend the Employment Agreement
NOW, THEREFORE, it is mutually agreed by and between the parties hereto as
follows:
1. Employment. Section 1 of the Employment Agreement is hereby amended to
provide that the Employee will act as Vice-President of the Company and serve on
the Board of Directors.
2. Duties. Section 2.1 of the Employment Agreement is hereby amended to
read as follows: "The Employee shall, during the term of his employment with the
Company, report to the Chairman of the Board of Directors, and subject to the
direction of the Chairman of the Board of Directors, perform such duties and
functions as are customary for a Vice President of the Company."
3. Chairmanship of Board. Section 2.4 of the Employment Agreement is
deleted.
4. Fixed Compensation. Section 3.1 of the Employment Agreement is modified
to define "Base Salary" as $85,000.00 per year, not inclusive of the value of
benefits provided elsewhere in the Employment Agreement.
5. Cash Bonus. Section 3 of the Employment Agreement is amended by adding a
new Section 3.5 to read as follows:
"3.5 The Employee shall be entitled to bonus of $25,000.00 (less applicable
deductions) payable at the closing of a financing being commenced by
Commonwealth Associates".
6. Bonus Plan. Section 3 of the Employment Agreement is amended by adding a
new Section 3.6 to read as follows:
"3.6 The Employee shall be entitled to a performance bonus in accordance
with the plan annexed hereto as Exhibit A."
7. Termination. Section 8.2(u) of the Employment Agreement amended to read
as follows: "In the event Employee is not elected to, or following election is
terminated from, the Board of Directors."
8. Other Activities. Any other agreement with the Company to the contrary,
the Employee shall be entitled to develop and otherwise be associated with
restaurants with, among others, a steakhouse theme, provided that none of the
same is located in such proximity to a Company operated or franchised restaurant
then in existence or being developed, such that the same would result in a
substantial diversion of customer traffic from the Company owned or franchised
restaurant, and provided that proprietary Company information is not used in
connection therewith. If such activities are undertaken during the period that
the Employee is employed hereunder, they will not detract from the full time
services required of the Employee hereunder.
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9. Full Force and Effect. Except as set forth above, the Employment
Agreement is in full force and effect in accordance with its terms,.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement and
affixed their hands and seals the day and year first above written,
THE RATTLESNAKE HOLDING
COMPANY, CO.
By:________________________________
Authorized Signature
/s/Xxxxxx Xxxxxxxxxxx
--------------------------------
XXXXXX XXXXXXXXXXX, Individually
