Exhibit 10(e)
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT is made this 18th day of
October, 1996, by and between Kiddie Academy International, Inc., a Delaware
corporation (the "Company"), and Xxxxxxx X. Xxxxxx ("Employee").
Explanatory Statement
A. The Company and Employee entered into an Employment Agreement dated
as of October 1, 1995 (the Employment Agreement") pursuant to which the Company
engaged Employee to perform certain services for the Company, all as more
specifically set forth therein.
B. The Company and Employee desire to modify and amend certain matters
respecting Employee's terms of employment, as more specifically set forth below.
NOW THEREFORE, in consideration of the Explanatory Statement, the
covenants of the parties herein and in the Employment Agreement and other good
and valuable consideration, the receipt of which is hereby acknowledged, the
Company and Employee hereby agree that the Employment Agreement is hereby
amended to include the following new provisions:
I. Extension of Term. Company and Employee wish to extend the term of
the Employment Agreement so that it shall terminate simultaneously with the term
of the Employment Agreement to be entered into, simultaneously with its
execution of this Amendment, between the Company and Xxxxxx X. Xxxxxxxx as Chief
Executive Officer (the "Xxxxxxxx Agreement"). Accordingly, the Employment Period
under the Employment Agreement is hereby extended so that it shall end on the
last day of the Initial Term (as defined in the Xxxxxxxx Agreement) or, if the
Xxxxxxxx Agreement is renewed, the last day of the last Renewal Term (as defined
in the Xxxxxxxx Agreement).
II. Defined Terms. All capitalized terms not defined herein shall have
the meaning ascribed to them in the Employment Agreement.
III. Employment Agreement Remains in Effect. From and after the date
hereof, the Employment Agreement shall be amended as set forth in this
Amendment, and all other provisions, terms and conditions of the Employment
Agreement shall in all respects remain as set forth in the Employment Agreement,
in full force and effect.
IN WITNESS WHEREOF, the Company and Employee have respectively signed
and sealed this Amendment to Employment Agreement as of the day and year first
above written.
WITNESS/ ATTEST: KIDDIE ACADEMY INTERNATIONAL, INC.
/s/ Xxxxxxx X. Xxxxx By: /s/ Xxxxxx Xxxxxx (SEAL)
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Name: Xxxxxx Xxxxxx
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Title: Chairman, CEO
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WITNESS:
/s/ Xxxxxxx X. Xxxxx By: /s/ Xxxxxxx X. Xxxxxx (SEAL)
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Xxxxxxx X. Xxxxxx
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