AMENDMENT 4
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT dated as of November 1, 1996 to EMPLOYMENT AGREEMENT dated
as of August 1, 1994 (the "Employment Agreement") between DANSKIN, INC.
("Employer") and Xxxxxxx Xxxxxx ("Employee"):
NOW, THEREFORE, in consideration off the premises of such Employment
Agreement and the covenants contained therein, and other good and valuable
consideration, the Employer and Employee hereby agree to amend AMENDMENT 2 of
the Employment Agreement in the following respects:
Effective November 1, 1996, Amendment 2 shall become null and void.
Paragraph 4.02 of the Employment Agreement is hereby amended to include the
following:
vi) a lump sum payment in the amount of $47,917 representing Base
Compensation earned by the employee under the Employment Agreement but
unpaid for the period from January 1, 1995 and October 31, 1996. This
amount shall be paid no later than the last day of the month in which
the Employee is terminated for any reason other than "for cause" or
resigns her employment following a "change in control."
IN WITNESS WHEREOF, the parties have executed this Amendment 4 as of the
date first written above.
For the Employer: DANSKIN, INC.
By: /s/ Xxxx Xxx Xxxxxxxxx
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Xxxx Xxx Xxxxxxxxx
Chief Executive Officer
Attest: /s/ Xxxx Xxxxxxxxx
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Xxxx Xxxxxxxxx
Assistant Secretary
For the Employee /s/ Xxxxxxx Xxxxxx
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Xxxxxxx Xxxxxx
