EXHIBIT 10.21
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (the "Amendment")
is made effective as of June 1, 1995, by and between Xxxx Stores, Inc.
(the "Company") and Xxxxxx X. Xxxxxxx (the "Executive"). The
Executive and the Company previously entered into an Employment
Agreement of March 15, 1994, as amended March 16, 1995, (the
"Agreement") and it is now the intention of the Executive and the
Company to further amend the Agreement as set forth below.
Accordingly, the Executive and the Company now enter into this
Amendment.
I. The Executive and the Company hereby amend the Agreement as
follows:
A. Term. The termination date referred to in the
second line of paragraph 1 of the Agreement is changed to February 3,
1999.
B. Salary. Effective June 1, 1995, the Executive's
salary, referenced in paragraph 4(a) of the Agreement, shall be not
less than $475,000 per annum.
C. Services Furnished. Paragraph 4(f) [Services
Furnished] of the Agreement is amended in its entirety as follows:
The Company shall furnish the Executive with office space and
such services as are suitable to the Executive's position and
adequate for the performance of his duties during the term of
this Agreement and for a period of six months following the date
of any termination, except for termination as described in
paragraphs 7(a) [Death], 7(c)(B) [Illegal or Grossly Negligent
Conduct], or 7(h) [Non-Renewal]. Upon mutual agreement between
the Company and the Executive, the office space furnished during
the six-month period following termination may be at a location
other than the Company's principle executive offices.
D. No Other Modifications. Except as modified by this
Amendment, the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Second
Amendment to Employment Agreement effective as of the date and year
first above written.
XXXX STORES, INC. EXECUTIVE
By: /s/ X. Xxxxx /s/ X. Xxxxxxx
Xxxxxx Xxxxx Xxxxxx X. Xxxxxxx
Chairman, Compensation Committee
