AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit
10.24
AMENDMENT
TO EMPLOYMENT AGREEMENT
AMENDMENT
NO. 1
dated as
of November 23, 2004 between XXXXX
PLASTICS CORPORATION,
a
Delaware corporation (the "Corporation"), and
G. XXXX XXXXXXX (the
"Employee").
Reference
is made to the Employment Agreement dated as of November 22, 1999 (the
"Employment Agreement"), between the Corporation and the Employee. The
Corporation and the Employee desire to extend the term of the Employment
Agreement. All capitalized terms used herein and not otherwise defined shall
have the meanings ascribed to such terms in the Employment
Agreement.
Accordingly,
in consideration of the mutual covenants and premises contained herein and
other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:
1. Term.
Section
2 of the Employment Agreement is hereby amended to read in its entirety as
follows:
"Subject
to earlier termination as provided herein, the employment of the Employee
hereunder shall commence on the Commencement Date, and terminate on December
31,
2009 (the "Expiration Date"). Such period of employment is hereinafter referred
to as the "Employment Period."
2. Effect
of Amendment.
Except
as expressly amended hereby, the Employment Agreement shall remain in full
force
and effect and unchanged.
3. Counterparts.
This
Amendment No. 1 may be executed in one or more counterparts, each of which
shall
be deemed an original but all of which together shall constitute one and the
same instrument.
IN
WITNESS WHEREOF,
the
parties have hereunto set their hands as of the date first written
above.
XXXXX
PLASTICS CORPORATION
By:
/s/ Xxx X. Boots
Xxx
X.
Boots
President
and Chief Executive Officer
/s/ G. Xxxx Xxxxxxx
G.
Xxxx
Xxxxxxx
