AMENDMENT TO TERMINATE EMPLOYMENT AGREEMENT
Exhibit
10.1
AMENDMENT
TO TERMINATE EMPLOYMENT AGREEMENT
This
AMENDMENT
TO EMPLOYMENT AGREEMENT (the
“Amendment”), made in the City of Plano and
the State of Texas,
dated as of December 1, 2006, between X. X. Xxxxxx Corporation, Inc., a Delaware
corporation (hereinafter called the “Employer”), and Xxxxxx X. Xxxxxxxxx
(hereinafter called the “Employee”).
WHEREAS,
the Employee and the Employer have previously entered into that certain
Employment Agreement dated May 1, 2005 (hereinafter called the
“Agreement”);
WHEREAS,
the Employee and Employer have mutually agreed to terminate the employment
agreement;
NOW
THEREFORE, in consideration of the promises and of the mutual covenants herein
contained, Employer and Employee herby agree to amend the Agreement pursuant
to
Section 10.8 thereof, and they hereby agree as follows:
| 1. |
Termination
of Agreement. The Employer and Employee mutually agree to terminate
the Employment Agreement as of the date first written
above.
|
| 2. |
Execution
of Executive Termination Pay Agreement. The Employee and Employer
agree that upon their execution of an Executive Termination Pay Agreement
all provisions of the Agreement that survive termination as provided
in
Section 9 of the Agreement are hereby waived and made null and void.
|
IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date and
year first above written.
X.
X. Xxxxxx Corporation, Inc.
By: /s/
Xxxxx X. Xxxxxx
Name:
Xxxxx X. Xxxxxx
Title:
Chairman & CEO
Employee
/s/
Xxxxxx X. Xxxxxxxxx
Xxxxxx
X.
Xxxxxxxxx
