Exhibit 10.8d
FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT
THAT EMPLOYMENT AGREEMENT made as of the 1st day of November, 1993, by and
between THE WISER OIL COMPANY, a Delaware corporation, and XXXXXXXX X. XXXX (as
heretofore amended, the "Agreement") is hereby amended in the following respects
only:
FIRST: Section 1.02 of the Agreement is hereby amended by restatement in
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its entirety to read as follows:
1.02. Term. Subject to the terms and provisions of Article II
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hereof, Employee's employment hereunder shall be extended and shall
continue through the close of business on June 1, 2000; provided, however,
that commencing on June 1, 1999 and on each day thereafter (such date and
each day thereafter herein called a "Renewal Date"), Employee's employment
hereunder shall be automatically extended so as to terminate at the close
of business on the first anniversary of such Renewal Date; provided further
that Employee may terminate his employment hereunder at any time for any
reason.
SECOND: Article II of the Agreement is hereby amended to add a new Section
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2.05 to the end thereof to read as follows:
2.05. Severance Payment. If the Company terminates Employee's
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employment hereunder other than pursuant to Sections 2.01 and 2.03 hereof,
and Employee is not entitled to a payment under the provisions of Section
1.05(a) hereof in connection with such termination, then the Company shall
pay to Employee, within 30 days following such termination, as severance
pay, an amount in cash equal to Employee's Base Salary at the time of his
termination of employment. Such severance pay shall be in addition to any
compensation that the Company otherwise agrees to pay Employee in
connection with any services rendered by Employee as a consultant or
otherwise to the Company or its subsidiaries following the termination of
his employment.
IN WITNESS WHEREOF, this Amendment has been executed and is effective as of
June 1, 1999.
XXXXXXXX X. XXXX
THE WISER OIL COMPANY
By
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Name:
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Title:
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