Exhibit 10.2
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT
This AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT ("Amendment") is entered into
as of January 1, 2000, by and between Xxxxxx X. Xxxxxxxxxxx ("Employee") and
Engineering Animation, Inc., a Delaware corporation (the "Company").
WHEREAS, the parties entered into an employment agreement (Employment
Agreement) as of January 1, 1996, whereby Employee was employed by the Company
as its Executive Vice President for an Employment Term (as such term is defined
in the Employment Agreement) ending December 31, 1999;
WHEREAS, the parties desire to extend the Employment Term until
December 31, 2003, with Employee serving in the capacity of Executive Vice
President of the Company;
NOW, THEREFORE, for good and valuable consideration, including the
benefits under the Severance Agreement (as such term is defined in the
Employment Agreement), the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
1. Section 1 of the Employment Agreement is amended to read as follows:
"Employment Terms. Subject to the terms and conditions set forth herein,
including Section 13, the Company will employ Employee for a term commencing as
of January 1, 1996 (the "Effective Date") and ending on December 31, 2003 or
such earlier date as may occur pursuant to Section 13 of this Agreement (the
"Employment Term")."
2. The first sentence of Section 2 of the Employment Agreement is
amended as follows: "Employment Duties. From January 1, 2000 until December
31,2003, Employee will serve as the Executive Vice President of the Company, and
shall perform such duties as shall be assigned from time to time by the Board of
Directors of the Company, subject to the terms of this Agreement and the
direction and control of the Board of Directors of the Company."
3. Subsection (a) of Section 3 of the Employment Agreement is amended
as follows: "(a) from the Effective Date until December 31, 2003, a salary as
established by the compensation committee of the Board of Directors of the
Company, payable in arrears not less frequently than monthly, but otherwise in
accordance with the Company's ordinary payroll practices; and".
4. All other terms and conditions of the Employment Agreement shall
remain unchanged. Capitalized terms used herein and not otherwise defined shall
have the meaning ascribed to them in the Employment Agreement. In the event of a
dispute between the terms of this Amendment and the Employment Agreement, the
terms of this Amendment shall control.
IN WITNESS WHEREOF, the parties have executed this Amendment on the
date first written above.
ENGINEERING ANIMATION, INC. Employee:
By:/s/ Xxxxxx X. Xxxxxxx /s/ X. Xxxxxxxxxxx
--------------------------- ------------------
Name: Xxxxxx X. Xxxxxxx Xxxxxx X. Xxxxxxxxxxx
Its: President and
Chief Operating Officer
