Exhibit 10.10
Amendment to
Employment Agreement
--------------------
This Amendment (the "2002 Amendment") is entered into as of this 25th day of
March, 2002 by and between Xxxxx, Inc. (the "Company") and Xxxxxx X. Xxxxxxx
("Executive") as follows:
WHEREAS, Executive and Company desire to amend that certain February 29, 1996
Employment Agreement which was amended and restated as of January 1, 2000
(the "Employment Agreement");
NOW, THEREFORE, in exchange for consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties agree as follows:
1. Section 3.01(a) is amended to change the "Base Salary" from $200,000
to $250,000.
2. Section 3.01(c) is deleted in its entirety. Executive shall no longer
be entitled to a "Service Bonus".
3. Section 3.01(d) is amended to change the target bonus from "125% of
Executive's Base Salary" to "100% of Executive's Base Salary" as of
January 1, 2002.
4. Section 5.04 is amended to change "125% of the Executive's then
current Base Salary" to "100% of the Executive's then current Base
Salary".
5. The effective date of this 2002 Amendment is January 1, 2002.
6. Except as specifically set forth in this 2002 Amendment, the Employment
Agreement shall remain unchanged.
7. This 2002 Amendment may be executed in one or more counterparts, each
of which shall be deemed to be an original but all of which together
will constitute one and the same instrument.
IN WITNESS WHEREOF, each of the parties hereto has duly executed this 2002
Amendment as of the date first above written.
XXXXX, INC.
/s/ Xxxxxx X. Xxxxxxx By: /s/ Xxxxx X. XxXxxx
-------------------------- -------------------------
Xxxxxx X. Xxxxxxx
Name: Xxxxx X. XxXxxx
-----------------------
Its: Senior Vice President
------------------------
