Exhibit 10(v)
Amendment to Employment Agreement of Xxxx X. Xxxxxx
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THIS AMENDMENT ("Amendment"), dated as of January 1, 1997, amends the
Employment Agreement, dated as of March 19, 1993 (the "Agreement"), between
Orion Capital Corporation, a Delaware corporation (the "Company"), and Xxxx X.
Xxxxxx ("Executive");
W I T N E S S E T H:
The Agreement is amended as set forth below.
1. The penultimate sentence 1(b) of the Agreement is amended in its
entirety to read as follows:
"Until December 31, 1998, Executive shall be an employee
of the Company and during that period the Company shall
make available to Executive appropriate quarters and
secretarial assistance at an office location of the
Company reasonably satisfactory to Executive."
2. Paragraph 7(a) of the Agreement is renumbered to 7(a)(i) and a
new paragraph 7(a)(ii) is added to the Agreement to read, in its entirety, as
follows:
"In addition to the compensation to be paid to Executive
pursuant to 7(a)(i) above, during the period from
January 1, 1997 to December 31, 1997, the Company shall
pay to Executive an
amount of $100,000, payable in semi-monthly
installments, as a fee for his special services as
Chairman of the Investment Committee of the Company's
Board of Directors."
3. Except as expressly amended hereby, the Agreement shall continue
in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as
of the date hereinabove set forth.
ORION CAPITAL CORPORATION
By:/s/ Xxxxxxx Xx Xxxxxxx
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Xxxxxxx X.Xxxxxxx
Senior Vice President
EXECUTIVE
/s/ Xxxx X. Xxxxxx
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Xxxx X. Xxxxxx
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