AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
Exhibit
10.3
AMENDMENT
NO. 1 TO
I,
Xxxx
Fine, agree to the amended terms and conditions of employment with Marvel
Entertainment, Inc. (the “Company”) set forth in this Amendment No. 1 to my
employment agreement with the Company dated May 31, 2007 (the
“Agreement”).
1. Section
4(a) of the Agreement is hereby deleted and replaced in its entirety, effective
March 26, 2007, by the following:
(a) Base
Salary. The Company shall pay me base salary at an annual
rate of $450,000, or such higher rate as it elects to pay me. My base
salary shall be paid in conformity with the Company’s salary payment practices
generally applicable to other similarly situated Company employees.
2. Except
as
expressly changed by this amendment, the Agreement remains in full force in
accordance with its terms. This amendment may be executed in one or
more counterparts, each of which shall be deemed to be an original but all
of
which together shall constitute the same instrument.
| Date: August 6, 2007 | MARVEL ENTERTAINMENT, INC. | ||
|
|
By:
|
/s/ Xxxx X. Xxxxxxxx | |
| Name: Xxxx X. Xxxxxxxx | |||
| Title: General Counsel and Executive Vice President | |||
|
Date: August
6, 2007
|
/s/
Xxxx Fine
|
||
| Xxxx Fine | |||
