EXHIBIT 10.24
SECOND AMENDMENT TO THE DECEMBER 1, 1993 AGREEMENT
REGARDING RETIREMENT BENEFITS OF XXXXXX X. XXXXXXXXX
WHEREAS, Xxxxxx X. Xxxxxxxxx (Executive") has been
employed by Xxxxxxx Instruments, Inc. ("Company") for
approximately 19 years; and
WHEREAS, the Executive and the Company entered into the
Agreement Regarding Retirement Benefits of Xxxxxx X.
Xxxxxxxxx as of December 1, 1993 and executed on December
20, 1993 ("the Agreement") and subsequently entered into a
First Amendment to the Agreement as of May 30, 1995 so that
the Executive will continue to remain employed by and
provide unique worldwide field operations experience to the
Company.
WHEREAS, the Executive and the Company wish to amend
the Agreement and the First Amendment so that the Executive
will continue to remain employed by and provide unique
worldwide field operations experience to the Company beyond
December 31, 1996.
NOW, THEREFORE, this Second Amendment to the Agreement
between the Executive and the Company is hereby adopted as
of December 16, 1996 and amends the Agreement as follows:
1. All reference to October 31, 1995 in the Agreement is
changed to July 31, 1997 except for paragraph 2 entitled
Voluntary Termination Before or After October 31, 1995
which is deleted and the following inserted.
2. Voluntary Termination. The
increase referred to in paragraph 1 does not
apply if Executive, before December 31, 1996
or after July 31, 1997, voluntarily
terminates employment (retires). The benefit
payable under such circumstances would be the
benefit normally payable from the Pension
Plan and the Supplemental Plan. If the
Executive voluntarily terminates employment
(retires) after December 31, 1996, but before
July 31, 1997, the Executive would receive
the increase referred to in paragraph 1.
2. All other terms and provisions of the Agreement
shall remain the same.
This Amendment to the Agreement is entered into as of
December 16, 1996.
EXECUTIVE
By: /s/Xxxxxx x. Xxxxxxxxx
Xxxxxx X. Xxxxxxxxx
COMPANY
XXXXXXX INSTRUMENTS, INC.
By: /s/Xxxx X. Xxxxxxx
Xxxx X. Xxxxxxx
Its: President and Chief Operating Officer
