1
Exhibit 10.31
AMENDMENT NUMBER 6
TO EMPLOYMENT AGREEMENT OF
XXXXX X. XXXX
Amendment Number 6, dated as of November 4, 1996 to the Employment
Agreement, dated as of March 24, 1989 and previously amended as of July 24,
1989, and previously amended as of July 24, 1989, August 18, 1989, December 1,
1990, August 16, 1991 and October 13, 1993 (the "Employment Agreement"),
between General Nutrition, Incorporated (the "Company") and Xxxxx X. Xxxx
("Executive"). Capitalized terms used herein without definition shall have the
meanings assigned to them in the Employment Agreement.
WHEREAS, the Compensation Committee of the Board of Directors of the
Company by unanimous consent, approved an amendment of Executive's Employment
Agreement.
NOW, THEREFORE, in consideration of Executive's continued performance
of his duties as an officer of the Company, the Company and Executive hereby
agree that:
1. The Employment Period is hereby extended until February 3, 2001.
All references to January February 3, 1993 as amended to February 1, 1995, as
further amended January 31, 1998 in the Employment Agreement, are hereby
changed to references to February 3, 2001.
2. Section 3(a) of the Employment Agreement is hereby amended to
provide that Executive's base salary shall be as set forth below for the fiscal
years indicated. The salary amounts are fixed and do not adjust for cost of
living increases.
Fiscal Year Ending January 31, 1998 -- $300,000
Fiscal Year Ending February 6, 1999 -- $250,000
Fiscal Year Ending February 5, 2000 -- $200,000
Fiscal Year Ending February 3, 2001 -- $150,000
3. Section 11 of the Agreement entitled "Consulting Services," is
hereby deleted in its entirety.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first written above.
GENERAL NUTRITION, INCORPORATED
By:
------------------------------
Its:
-----------------------------
---------------------------------
EXECUTIVE
