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EXHIBIT 10.3
THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
This Third Amendment to Employment Agreement (the "Amendment") is made
as of the ____ day of __________, 1999, by and between American Telecasting,
Inc., a Delaware corporation (the "Company"), and Xxxxx X. Xxxxxxx ("Employee").
WHEREAS, the Company and the Employee have entered into an Employment
Agreement dated as of the 10th day of August, 1995, as amended by First
Amendment to Employment Agreement dated as of September 9, 1997 and by Second
Amendment to Employment Agreement dated as of October 7, 1998 (collectively the
"Employment Agreement"); and
WHEREAS, the Company and the Employee wish to extend the term of the
Employment Agreement.
NOW, THEREFORE, in consideration of the premises and mutual promises
set forth herein, the sufficiency of which is hereby acknowledged, the parties
hereby agree as follows:
1. Section 2 of the Employment Agreement is hereby amended in its
entirety to read as follows:
2. Term of Agreement. The term of this Agreement shall
commence on the date first written above (the "Effective
Date") and such term and the employment hereunder shall
continue, unless earlier terminated in accordance with the
terms of Paragraph 4, until the Expiration Date (the "Term of
Employment"). The Expiration Date shall be February 28, 2001,
subject to annual extensions as provided below. The Expiration
Date shall be automatically extended for additional one year
periods unless, at least one year before the then-effective
Expiration Date, either the Company or the Employee provides
written notice to the other that it intends to terminate this
Agreement on the then-effective Expiration Date.
2. Except as set forth herein, the Employment Agreement remains in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have properly and duly executed
this Amendment as of the date first written above.
AMERICAN TELECASTING, INC. EMPLOYEE
By:
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Xxxxxx X. Xxxxxxxxx Xxxxx X. Xxxxxxx
President and Chief Executive Officer