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EXHIBIT 10.1
July 14, 1999
Mr. Xxxx Xxxx
Dear Xxxx:
The purpose of this letter is to evidence an amendment to your
Employment Agreement with Cleveland Indians Baseball Company Limited Partnership
dated January 30, 1998 (the "Employment Agreement"). Paragraph 5 of the
Employment Agreement concerning a post season bonus shall be deleted in its
entirety and replaced with the following new Paragraph 5:
5. POST SEASON BONUS. In the event that the Club wins
the Central Division Championship, American League Wild Card American
League Championship Pennant or the World Series Championship during any
championship season during the term of this Agreement, including any
option year if the applicable option has been exercised, you shall be
paid a post-season bonus payment equal to the greater of (i) a full
player's share payable to the Club's players as determined pursuant to
Major League Rule 45(b)(2) as the same shall be amended from time to
time or (ii) the Bonus Formula Amount. The Bonus Formula Amount shall
be equal to the sum of the following amounts attributable to the
championships actually won by the Club during the championship season:
(a) American League Central Division
Championship or Wild Card $ 50,000
(b) American League Championship $100,000
(c) World Series Championship $100,000
This amendment shall be effective as of January 30, 1998. All of the
other terms of the contract will remain unchanged and in full force and effect.
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Mr. Xxxx Xxxx
July 14, 1999
Page 26
Please indicate your acceptance of these amendments by executing both
copies of this letter and returning one of the executed copies to me. You may
retain the other copy for your records.
Very truly yours,
CLEVELAND INDIANS BASEBALL
COMPANY LIMITED PARTNERSHIP
By: Cleveland Indians Baseball Company,
Its General Partner
By: /s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx, Chief Executive Officer
ACCEPTED:
/s/ Xxxx X. Xxxx
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DATE: July 18, 1999
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