EXHIBIT 10.13
EMPLOYMENT AGREEMENT
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Reference is made to an Employment Agreement (hereinafter called
"Agreement") dated November 13, 2001, between Handy Hardware Wholesale, Inc., a
Texas Corporation (therein and hereinafter called the "Employer"), and Xxxxx
Xxxxxx Xxxxxxx, Xx. (therein and hereinafter called the "Employee").
At this time, Employer and Employee wish to amend the Agreement as
hereinafter set forth:
NOW, THEREFORE, in consideration of the premises, the agreements herein
contained and other good and valuable considerations, Employer and Employee
hereby amend the Agreement as follows:
1. Paragraph 2 of the Agreement is hereby amended to read as follows:
"2. As compensation for his services hereunder, Employer shall pay
Employee the following:
a. For the period from August 20, 2001 through December 31, 2002, Employer
shall pay Employee Thirteen Thousand, Seven Hundred Fifty and No/100 Dollars
($13,750.00) per month; and for the period from January 1, 2003 through December
31, 2003, Employer shall pay Employee Fourteen Thousand, Five Hundred
Eighty-three and 34/100 Dollars ($14,583.34) per month.
b. Employee's compensation shall be payable semi-monthly on the fifteenth
and last days of each month during the period of Employee's employment under
this Agreement; provided however, that Employee shall not be entitled to any
compensation for any period of time in excess of sixty (60) days during which he
is unable to perform his duties hereunder. Said monthly salary shall be prorated
for any partial month at the beginning and end of the Term of Employment or for
any period for which Employee is not entitled to compensation as provided in the
immediately preceding sentence.
2. Paragraph 3.a. of the Agreement is hereby amended to read as follows:
"a. The Term of Employment by Employer shall mean the period commencing
August 20, 2001 and terminating December 31, 2003, unless sooner terminated in
accordance with the terms and conditions hereinafter set forth, provided,
however, in the event of the death of the Employee, the Term of Employment shall
end on the date of the death of Employee."
Except as amended above, the Agreement remains unchanged and continues in
full force and effect.
This First Amendment is executed in multiple counterparts, each of which
shall have the force and effect of an original, this 6th day of March, 2003.
HANDY HARDWARE WHOLESALE, INC.
/s/ Xxxxx Xxxxxx Xxxxxxx, Xx. By /s/ Xxxxx X. Xxxx
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Name: Xxxxx X. Xxxx
Title: Chairman of the Bard
EMPLOYEE EMPLOYER
