AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit
10(h)
AMENDMENT
TO
This
Amendment to Employment Agreement is entered into effective as of the 28th day
of February, 2003, by and between TXU Corp., a Texas corporation (the
“Company”), and X. X. Xxxxxx, an individual (“Employee”).
WHEREAS,
the Company and Employee entered into that certain Employment Agreement dated as
of July 1, 2000, as amended pursuant to that certain Amendment to Employment
Agreement dated as of May 11, 2001 (“Employment Agreement”); and
WHEREAS,
the parties now desire to amend the Employment Agreement to extend the Term such
that the Term shall expire on the third anniversary of the effective date of
this Amendment to Employment Agreement.
NOW,
THEREFORE, in consideration of the mutual agreements set forth herein and in the
Employment Agreement and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:
|
1. |
Extension
of Term.
Section 2 of the Employment Agreement is hereby amended by replacing the
date “June 30, 2004” with the date “the third anniversary of the effective
date of the Amendment to Employment Agreement dated in February 2003,”
and, as amended, said Section 2 shall be and read in full as
follows: |
“2.
Term: This
Employment Agreement shall commence as of the date first set forth above and,
unless terminated earlier pursuant to the provisions hereof, shall expire on the
third anniversary of the effective date of the Amendment to Employment Agreement
dated in February 2003 (“Term”).”
|
2. |
Continued
Effectiveness of Employment Agreement.
Except as expressly amended hereby, the Employment Agreement shall remain
in full force and effect. |
|
3. |
Governing
Law.
This Amendment shall be governed by and construed in accordance with the
laws of the State of Texas. |
Executed
effective as of the 28th day of
February, 2003.
TXU
CORP. EMPLOYEE:
By:/s/
Xxxx
Xxx /s/ X.
X.
Xxxxxx
Xxxx Xxx,
Chairman of the Board X. X.
Xxxxxx
and Chief
Executive
