EXHIBIT 99.5
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AGREEMENT is made on December 18th, 1996 BETWEEN:
(1) ADT LIMITED whose registered office is at Xxxxx Xxxxx, 00 Xxxxx Xxxxxx,
Xxxxxxxx XX00, Xxxxxxx (the "Company"); and
(2) XXXXXXX XXXXXXX XXXXXXXX of 00 Xxxxxx Xxxxxx, Xxxxxx Xxxx, Xxxxxx (the
"Executive")
WHEREAS on May 8, 1993 the parties hereto entered into an employment agreement
(the "Employment Agreement") pursuant to which the Company agreed to employ
the Executive as Chairman and Chief Executive Officer on the terms set out in
the Employment Agreement and the parties hereto have agreed to amend the
Employment Agreement on the terms set out below.
NOW IT IS AGREED, in consideration of the mutual promises and covenants
contained herein, as follows:-
1. The Employment Agreement shall be amended with effect from the date
hereof as follows:
(a) in line two of Clause 3(a), by the deletion of "1988" where it appears
in the date "March 31, 1998" and its replacement with "2000";
(b) in line one of Clause 3(b), by the deletion of "1988" where it appears
in the date "April 1, 1998" and its replacement with "2000" and by the
deletion of "each" where it appears in the phrase "each April 1
thereafter" and its replacement with "every second"; and
(c) in line three of Clause 3(b), by the deletion of "twelve" where it
appears in the phrase "period of twelve months" and its replacement with
"twenty four".
2. The Employment Agreement, as amended by this agreement, shall be read
and construed as one agreement, which agreement shall continue in full
force and effect. References in the Employment Agreement to "this
agreement", "hereof", "hereunder" and expressions of similar import
shall be deemed to be references to the Employment Agreement as amended
by this agreement. Nothing in the Employment Agreement, as amended by
this agreement, shall be deemed to amend or otherwise prejudice or
affect in any way any other agreement or arrangement between the parties
hereto.
AS WITNESS the hands of the parties (or their duly authorised representatives)
on the date which appears first above.
ADT LIMITED XXXXXXX XXXXXXX XXXXXXXX
By: /s/ Xxxxx Xxxxxxx /s/ M.A. Xxxxxxxx
------------------- ---------------------
Xxxxx Xxxxxxx M.A. Xxxxxxxx
Director
Chairman, Remuneration Committee
