Exhibit 10.3
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This is an amendment to the Employment Agreement (the "Agreement")
entered into on October 18, 1999, and amended and restated as of April 28, 2000,
by and between General Cable Corporation, a Delaware corporation (the "Company")
and Xxxxxxx X. Xxxxx (the "Executive").
The Company, in its own right, and the Executive, in consideration of
their mutual agreements, agree as follows:
1. Paragraph 2(a) of the Agreement shall be amended to read as
follows:
Effective on August 6, 2001, and throughout the
Employment Period, the Executive shall be entitled to
serve as President and Chief Executive Officer of the
Company, GK Technologies, Incorporated, a New Jersey
Corporation ("GK"), General Cable Industries, Inc.
("General Cable"), and such other affiliates of the
Company, GK or General Cable as the Board of
Directors of the Company ("Company's Board") shall
request. The Company, GK, General Cable and such
other affiliates are hereinafter referred to
collectively as the "Group".
2. Paragraph 2(b) of the Agreement shall be amended by
substituting the words "Chief Executive Officer" for "Chief
Operating Officer" in the first line.
3. Paragraph 3(a) of the Agreement, first sentence, shall be
amended as follows:
Effective August 6, 2001, during the Employment
Period, the Executive shall be paid a base salary at
the annual rate of Five Hundred Fifty Thousand
Dollars ($550,000), payable in accordance with the
regular payroll practices of the Company.
The parties have caused this amendment to be duly executed by them as
of the 6th day of August, 2001.
GENERAL CABLE CORPORATION
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Xxxxxx X. Xxxxxx Xxxxxxx X. Xxxxx
Executive Vice President, General Counsel
and Secretary
