THIRD
AMENDMENT TO
EMPLOYMENT AGREEMENT
This Third Amendment (the "Amendment") is made and entered into as of
the 29th day of September, 1998 by and between WorldPort Communications, Inc., a
Delaware corporation ("WorldPort" or the "Company") and Xx. Xxxx X. Xxxxx
("Executive") and amends that certain Employment Agreement dated as of January
1, 1998 between the Company and Executive (the "Employment Agreement").
WHEREAS, the parties executed an Amendment to Employment Agreement as
of March 31, 1998 (the "First Amendment") which amended Section 6(f) of the
Employment Agreement and executed a Second Amendment to Employment Agreement as
of April 1, 1998 (the "Second Amendment") which amended Section 6(a) and again
amended Section 6(f) of the Employment Agreement;
WHEREAS, the parties desire to further amend a portion of Section 6(f)
of the Employment Agreement;
NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:
1. The third sentence of Section 6(f) of the Employment Agreement (as
amended by the First Amendment and the Second Amendment) is hereby amended and
restated to read in its entirety as follows:
"The promissory note shall accrue interest at an annual rate
of 9% and mature on August 1, 2000, at which time all payments of
principal and accrued interest shall be made."
2. Except as otherwise amended hereby, all terms and provisions of the
Employment Agreement, as amended previously shall continue in full force and
effect as stated therein. All capitalized terms used by not defined herein shall
have the meanings given in the Employment Agreement
IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.
WORLDPORT COMMUNICATIONS, INC.
By:
Name:
Title:
Xxxx X. Xxxxx