AMSCAN HOLDINGS, INC.
00 Xxxxxxxxxx Xxxx
Xxxxxxxx, XX 00000
December 1, 1999
Xx. Xxxxx X. Xxxxxxxx
00 Xxxx Xxxxxx
Xxxx Xxxxxxxxx, Xxx Xxxx 00000
Re: Amendment of Employment Agreement
Dear Xxx:
In connection with the employment agreement dated August 10, 1997 (the
"Employment Agreement") between Xxxxx X. Xxxxxxxx (the "Executive") and Amscan
Holdings, Inc. (the "Company"), the parties hereto agree that Paragraph 4(a) of
the Employment Agreement is hereby amended to provide that with respect to the
termination of the Restricted Period as to Executive's remaining Restricted
Stock (which was to be released from the Restricted Period in increments
commencing on January 1, 2000), the Restricted Period shall continue until
January 1, 2007, unless the Restricted Period sooner terminates as to all of the
Restricted Stock upon the occurrence of any of the "earlier termination" events
set forth in Paragraph 4(a) (including upon the nonrenewal of the Employment
Agreement by the Company).
Except as specifically set forth herein, all other terms of the Employment
Agreement shall continue in full force and effect.
If the foregoing meets with your understanding, please execute the enclosed
copy of this letter and return same to the undersigned.
Very truly yours,
AMSCAN HOLDINGS, INC.
By: /s/ XXXXXX X. XXXXXXXXXX
----------------------------
Name:
Title:
ACCEPTED AND AGREED TO AS OF
THIS 1st DAY OF DECEMBER, 1999:
/s/ XXXXX X. XXXXXXXX
------------------------------
Xxxxx X. Xxxxxxxx
