SWANK, INC.
00 XXXX XXXXXX
XXX XXXX, XXX XXXX 00000
May 30, 2001
Xx. Xxxxxxxx Xxxxx
Xxxxx Xxxx
Xxxxxxx, Xxx Xxxx 00000
Dear Xx. Xxxxx:
Reference is hereby made to the Agreement dated as
of June 20, 1991 between Swank, Inc. (the "Corporation") and
you concerning your employment by the Corporation as amended
by letter agreements dated as of January I, 1992, September 1,
1993, October 30, 1995 and May 4, 1998 (the "May 1998 Letter")
between the Corporation and you (as so amended the "Existing
Employment Agreement"). This letter will serve to confirm our
understanding and agreement with regard to the Existing
Employment Agreement as follows:
During the term, including any extension of the
term, of the Existing Employment Agreement, you will receive a
base salary of $310,000 per annum. In addition, the words "30
days' written notice" contained in the second paragraph of the
May 1998 Letter is hereby amended to read "10 days' written
notice".
Except as modified and amended by this letter, the
Existing Employment Agreement shall remain and continue in
full force and effect on and after the date hereof
This letter may be executed in any number of
counterparts, each of which shall be deemed an original and
all of which taken together shall constitute one and the same
agreement.
This letter shall be governed by, and construed and
enforced in accordance with, the laws of the State of New
York, without regard to principles of conflicts or choice of
law (other than Section 5-1401 of the New York General
Obligations Law).
If the foregoing correctly sets forth our
understanding and agreement, kindly countersign this letter in
the space provided below.
Very truly yours,
SWANK, INC.
By: /s/ Xxxx Xxxxx
Xxxx Xxxxx, President
ACCEPTED AND AGREED:
/s/ Xxxxxxxx Xxxxx
Xxxxxxxx Xxxxx
-2 -