AGREEMENT (this "Agreement") dated as of April 9,
1997, between STANT CORPORATION, a Delaware corporation (the
"Company"), and XXXXXX X. XXXXX, an individual ("Executive").
The parties agree as follows:
1. If Executive's employment with the Company is terminated by the
Company for its convenience pursuant to Section 3(d) of the Employment
Agreement (the "Employment Agreement") dated as of February 10, 1997, between
the Company and Executive, or if Executive's employment with the Company is
terminated by Executive as a result of an Event of Termination (as defined in
the Employment Agreement), then from the Termination Date (as defined in the
Employment Agreement) until the second anniversary thereof Executive shall not
accept employment with, or act as a director or officer of or advisor or
consultant to, or have any significant ownership interest in, Xxxxxx
Industries, Inc., ITT Industries, Inc., Bosch (Xxxxxx) Gmbh, Valeo S.A. or any
other business that manufactures, sells or purchases automotive windscreen
wipers for use in the United States.
2. In consideration for the covenant described in Section 1 above, the
Company shall pay to Executive the sum of $100,000 within five business days of
the commencement of the covenant described above.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date and year first above written.
STANT CORPORATION,
by /s/ Xxxx X. Xxxxx
--------------------------
Name: Xxxx X. Xxxxx
Title: Chairman
/s/ Xxxxxx X. Xxxxx
--------------------------
Xxxxxx X. Xxxxx
