EXHIBIT 10.31.6
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This Amendment No. 1 to Employment Agreement (this "AMENDMENT") is made
as of September 8th, 2003 by and between Exult, Inc. (the "COMPANY") and Xxxx X.
Xxxxx ("EXECUTIVE").
A. Executive is employed by the Company pursuant to that certain
Employment Agreement dated as of June 2, 2003 (the
"AGREEMENT").
B. The Agreement provides for a living allowance to be paid by
the Company to Executive for up to one year, pending
Executive's sale of his house in New Jersey. The final amount
of the living allowance was to be agreed by the Company's CEO
and Executive after Executive had surveyed the rental housing
market in Orange County.
C Upon a review of the housing markets in NJ and Orange County
CA the Companies CEO and Executive have agreed to the
following
1. Section 4(b) of the Agreement is hereby amended to
read in its entirety as follows:
(b) Relocation Expenses. The Company will reimburse
Executive's documented out-of-pocket expenses incurred in
moving his family and household goods from New Jersey to
Orange County, California including the cost to executive of
any real estate agent's sales commission paid by executive in
connection with the sale of his house in New Jersey. In
addition, the Company will pay to Executive, in addition to
his salary and other compensation to which he is entitled, a
living allowance of $7,000 per month for 12 consecutive months
beginning September 15th, 2003. All amounts paid or reimbursed
pursuant to this Section 4(b) will include a tax "gross-up" to
the extent necessary to neutralize the effects of income tax
on such payments.
2. Except as set forth herein, the Agreement will remain
in effect as written.
In witness whereof, the Company and Executive have entered into this
Amendment as of the date above set forth.
EXULT, INC.
By: ____________________________ _________________________________
Xxxxx X. Xxxxxx, V Xxxx X. Xxxxx
Chief Executive Officer
