SECOND AMENDMENT
Exhibit
10.45
This
Second
Amendment is entered into this 16th day of June, 2005, by and between Building
Materials Holding Corporation, a Delaware corporation ("Company") and Xxxxxx
X.
Xxxxxx ("Executive").
RECITALS
A.
|
The
Company
and Executive entered into an Employment Agreement dated June 1,
2002
(the "Agreement") which provides for the employment of Executive
by the
Company.
|
B.
|
The
Company
and Executive desire to update the Agreement to state the Executive's
current base salary, and the Company and Executive also desire
to extend
the term of the Agreement for an additional two years beyond the
current
expiration date of May 31,
2007.
|
NOW
THEREFORE, the
parties hereby agree as follows:
1.
|
Section
1 of
the Agreement is hereby amended to state that the Agreement shall
continue
in effect for two additional years beyond the Initial Term to May 31,
2009. This two-year extension is in lieu of and replaces
the current
language providing for two automatic one-year extensions of the
Initial
Term. The Initial Term and the two-year extension will
be referred
to in the Agreement as the "Employment
Term."
|
2.
|
Section
3.1
is hereby amended to reflect that Executive's current base salary
is
$750,000.
|
3.
|
All
remaining
provisions of the Agreement, other than those expressly modified
in this
Second Amendment, remain in full force and
effect.
|
This
Second
Amendment is effective June 16th, 2005 and is dated the date first written
above.
COMPANY
BUILDING
MATERIALS HOLDING
CORPORATION By /s/
Xxxxx X.
X’Xxxxx
Xxxxx X. X'Xxxxx Chair of Compensation Committee |
EXECUTIVE
By
/s/
Xxxxxx X.
Xxxxxx
Xxxxxx X. Xxxxxx |