Exhibit 10.2
AMENDMENT TO EMPLOYMENT AGREEMENT
---------------------------------
THIS AMENDMENT ("Amendment"), dated as of November 16, 2005 to the
Employment Agreement, dated as of July 1, 2000, as amended as of July 1, 2002
(the "Agreement"), between The Xxxxx Xxxxxx Companies Inc., a Delaware
corporation ("the "Company"), and Xxxxxxx X. Xxxxxx, a resident of New York, New
York (the "Executive").
W I T N E S S E T H:
--------------------
WHEREAS, the Executive and the Company are parties to the Agreement;
and
WHEREAS, the Company and the Executive wish to amend the Agreement to
adjust the compensation as set forth herein;
NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and obligations hereinafter set forth, the parties hereto, intending
to be legally bound, hereby agree to amend the Agreement as follows:
1. Base Salary.
For fiscal years beginning on or after July 1, 2005, Base Salary shall be
paid to the Executive at an annual rate equal to $1,440,000.
2. Miscellaneous.
a. Except as provided above, all other terms and conditions of the
Agreement shall remain the same.
b. Capitalized terms used in this Amendment shall have the meanings
ascribed to such terms in the Agreement, except to the extent the term
is modified herein.
c. This Amendment shall be subject to, and governed by, the laws of the
State of New York applicable to contracts made and to be performed
therein.
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as
of the date first written above.
THE XXXXX XXXXXX COMPANIES INC.
By: /s/ Xxx XxXxxx
----------------------------------
Name: Xxx XxXxxx
Title: Senior Vice President -
Global Human Resources
/s/ Xxxxxxx X. Xxxxxx
----------------------------------
Xxxxxxx X. Xxxxxx
