Exhibit 10.6
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT, dated as of the 21st day of July, 1998, by and between
BUCKHEAD AMERICA CORPORATION ("Company"), a Delaware corporation, and Xxxxxx X.
Xxx ("Executive").
W I T N E S S E T H:
WHEREAS, Company and Executive entered into that certain Employment
Agreement dated July 1, 1993 ("Agreement" providing for employment of Executive
by the Company; and
WHEREAS, Company and Executive desire to enter into this Amendment for the
purpose of evidencing their mutual understanding and agreement regarding the
extension of the term of Executive's employment by the Company and certain other
matters relating to such employment as set forth herein below.
NOW, THEREFORE, for and in consideration of the mutual premises and
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Company and Executive,
intending to be legally bound, agree as follows:
1. Defined Terms. All terms used herein and denoted by their initial
capitalization shall have the meanings set forth in the Agreement or
First Amendment unless set forth herein to the contrary.
2. Extension of Employment Term. The term of employment described at
Section 4 of the Agreement shall be extended to July 31, 2002.
3. Definition of Base Salary. The definition of Base Salary only as it
pertains to Section 4B of The Agreement shall be amended and the
following definition shall apply:
"BaseSalary" - Base Salary shall be defined for the purpose of Section
4B as the Executive's annual salary plus the average annual bonus for
the two years proceeding termination plus the annual cost of group
insurance.
4. Continued Validity. Except as specifically amended by this Amendment
as herein above provided, all other terms and conditions of the
Agreement shall remain unchanged and in full force and effect.
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IN WITNESS WHEREOF, the parties have set their hands and affixed their
seals to this Amendment to be effective as of the day and year first above
written.
COMPANY: EXECUTIVE:
Buckhead America Corporation
BY: /s/ Xxxxxx X. Xxxxxx /s/ Xxxxxx X. Xxx
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Title: Chairman Xxxxxx X. Xxx