Exhibit 10(a)
THE ADVEST GROUP, INC.
00 Xxxxx Xxxxx Xxxxxx
Xxxxxxxx, XX 00000
April 1, 1999
Xx. Xxxxx X. Xxxxx
President and Chief Executive Officer
The Advest Group, Inc.
00 Xxxxx Xxxxx Xxxxxx
Xxxxxxxx, XX 00000
Re: Amendment to Employment Agreement
Dear Grant:
The Human Resources Committee of the Board of Directors of The Advest
Group, Inc. ("Advest") has adopted a resolution authorizing me to send you
this letter amending the terms of the Employment Agreement between Advest and
you dated October 1, 1997 (the "Employment Agreement"). Except to the extent
modified below, the Employment Agreement shall remain in full force and
effect.
The Employment Agreement is amended as follows:
1. Paragraph 1 is amended by deleting the word "President" where it
appears and replacing it with "Chief Executive Officer," and by deleting in
its entirety the phrase "reporting to and under the direction of the Chief
Executive Officer."
2. Paragraph 2 is amended by deleting the date "September 30, 2002"
where it appears and replacing it with the date "September 30, 2004."
3. Paragraph 3 is amended by deleting the phrase "other than the
Chief Executive Officer" where it appears in the final sentence.
Xx. Xxxxx X. Xxxxx
April 1, 1999
Page 2
4. Clauses (i) and (ii) of paragraph 5(a) are amended by deleting the
word "President" where it appears in each clause and replacing it with "Chief
Executive Officer."
Please sign the enclosed acknowledgement copy of this letter confirming
your agreement with the terms of this letter.
Very truly yours,
/s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx
Chairman, Human Resources Committee
for the Board of Directors
By signing below I confirm my agreement
with the terms of this letter.
/s/ Xxxxx X. Xxxxx
________________________________
Xxxxx X. Xxxxx
