Exhibit 10.5
AMENDMENT NO 2. TO THE EMPLOYMENT AGREEMENT
OF
XXXXXXX X. XXXXX
This Amendment (this "Amendment") dated as of August 8, 2001, is
entered into by and between Xxxxxx Online, Inc., a Delaware corporation with its
principal offices at 0000 Xxxxxxxx Xxxx, Xxxxx 000, Xxxxxxxx, Xxx Xxxx 00000
("Xxxxxx") and Xxxxxxx X. Xxxxx, an individual residing at 000 Xxxxxxx Xxxxxx,
Xxx. 0X Xxxx, Xxxxxx Heights, 11577 ("Executive").
W I T N E S S E T H:
WHEREAS, Xxxxxx and Executive are parties to a certain Amendment to the
Employment Agreement of Xxxxxxx X. Xxxxx dated as of August 1, 2001 ("Amendment
No. 1"); and
WHEREAS, Xxxxxx and Execution desire to further amend the Employment
Agreement (as such term is defined in Amendment No. 1) as to certain matters as
hereinafter set forth.
NOW THEREFORE, in consideration of the premises and the covenants and
agreements contained herein, the parties agree as follows:
1. The parties agree that Section 4 of the Employment Agreement
is modified to change Executive's annual base salary from $78,000 to $120,000.
2. Except as expressly provided herein, all of the terms and
conditions of the Employment Agreement shall be unmodified and in full force and
effect.
IN WITNESS WHEREOF, the undersigned have executed this
Amendment on the day and year first above mentioned.
Xxxxxx Online, Inc.
By: /s/ Xxxxxxxx X. Xxxxxx
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Name: Xxxxxxxx X. Xxxxxx
Title: Chief Executive Officer
EXECUTIVE
By: /s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
