FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit 10.3
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT, (this “Amendment”) is effective as of the
12th day of December, 2006 between Cinemark, Inc., a Delaware corporation (the
“Company”), and Xxxxxxx Xxxxxx (“Executive”).
RECITALS
A. The Company and Executive previously entered into that certain Employment Agreement
effective as of March 12, 2004 (the “Original Employment Agreement”), setting forth the terms and
conditions of their understandings and agreements with respect to Executive’s employment as the
Company’s Senior Vice President.
B. The Company and Executive now wish to make certain changes to the terms and conditions set
forth in the Original Employment Agreement by amending such agreement as set forth herein.
STATEMENT OF AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and obligations contained herein and
in the Original Employment Agreement, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and Executive, each intending to be
legally bound, hereby agree as follows:
1. Amendment of Original Employment Agreement.
(a) Section 1.1 of the Original Employment Agreement is hereby amended and restated in its
entirety to read as follows: :
“1.1 Title and Duties. The Company hereby employs Executive as
President and Chief Operating Officer of the Company. Executive’s duties,
responsibilities and authority shall be normal, customary and consistent
with Executive’s position and titles and shall include serving in a similar
capacity with Cinemark USA, Inc. and such other duties, responsibilities and
authority as may be assigned to Executive by the Board of Directors of the
Company (the “Board”). Executive shall report directly to the Chief
Executive Officer of the Company.”
(b) Except as specifically set forth in Section 1(a) hereof, the Original Employment
Agreement remains in full force on its terms.
2. Governing Law. This Amendment shall be construed, interpreted and governed in
accordance with the laws of the State of Texas without regard to any conflict of laws rule or
principle which might refer the governance or construction of this Amendment to the laws of another
jurisdiction.
3. Entire Agreement. This Amendment, together with the Original Employment Agreement
contain the entire understanding between the parties hereto with respect to the subject matter
hereof and supersede in all respects any prior or other agreement or understanding, written or
oral, between the Company and Executive with respect to such subject matter.
4. Counterparts. This Amendment may be executed in multiple counterparts, each of
which will be deemed an original.
[Signature page follows]
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IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have caused this
Amendment to be executed and delivered by their proper and duly authorized officers as of the day
and year first above written.
| COMPANY: | ||||
| CINEMARK, INC. | ||||
| By: | /s/ Xxxxxxx Xxxxxxxx | |||
| Name: | Xxxxxxx Xxxxxxxx | |||
| Title: | Senior Vice President-General Counsel | |||
| EXECUTIVE: | ||||
| /s/ Xxxxxxx Xxxxxx | ||||
| Xxxxxxx Xxxxxx | ||||
Signature Page to FIRST Amendment To Employment Agreement
