EXHIBIT 10.1
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EXTENSION OF EMPLOYMENT AGREEMENT
AGREEMENT made this 20th day of July, 1998 between XXXX, INC., a
corporation organized and existing under the laws of the State of New York (the
"Corporation"), and XXXXXX X. XXXXXXXXXXX, residing at 0 Xxxxxxx Xx., Xxxxx, Xxx
Xxxx 00000 (the "Employee").
W I T N E S S E T H:
WHEREAS, the parties hereto entered into an Employment Agreement on the
20th day of September, 1995 pursuant to which Employee was employed for a period
of five (5) years, and pursuant to which the contract was automatically extended
for an additional one (1) year period on each of the first three (3) anniversary
dates, and
WHEREAS, the parties hereto desire to extend said Employment Agreement.
NOW, THEREFORE, it is agreed as follows:
1. Paragraph 1 of the Employment Agreement between the parties dated the
20th day of September, 1995 is modified by deleting Paragraph 1 thereof and
substituting therefore the following:
"The Corporation hereby employs the Employee, and the Employee
agrees to serve the Corporation, for a term beginning on
September 20, 1995 for a term of five (5) years, which term shall
automatically be extended for an additional one (1) year period
on each of the first seven (7) anniversary dates, provided that
Employee is in the employ of the Corporation on that date."
2. In all other respects the Employment Agreement executed the 20th day
of September, 1995, between the parties hereto, is ratified and confirmed.
IN WITNESS WHEREOF, the Corporation has caused this Agreement to be
executed by its officers thereunto duly authorized and its corporate seal to be
hereunto affixed, and the Employee has hereunto set his hand and seal, all as of
the day and year first above written.
XXXX, INC.
By: /s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
Vice President Finance and Chief Financial
Officer
[Corporate
Seal]
Attest.
/s/ Xxxxxx Xxxxxxxxxxx
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Xxxxxx Xxxxxxxxxxx, Secretary
/s/ Xxxxxx X. Xxxxxxxxxxx
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Xxxxxx X. Xxxxxxxxxxx
Employee
