AMENDMENT
TO
CONSULTANT AGREEMENT
BETWEEN
GREASE MONKEY HOLDING CORPORATION,
A UTAH CORPORATION
AND
XXX X. XXXXXX
THE CONSULTANT AGREEMENT DATED February 5, 1997 by and between Xxx X.
Xxxxxx, an individual ("Xxxxxx") and Grease Monkey Holding Corporation, a Utah
corporation ("Grease Monkey") is hereby amended upon the appointment of Xxxxxx
as President and Chief Operating Officer effective September 18, 1998.
1. CONSULTING FEES. The monthly consulting fees of $16,071.00 are hereby
suspended. The remaining, unpaid consulting fees from the period
September 19, 1998 through March 3, 1999 will convert to severance
payments in the event of any change in the employment relationship
between Xxxxxx and Grease Monkey, including a change in control of
Grease Monkey.
2. SEVERANCE PAYMENTS. Xxxxxx will begin accruing one month of additional
severance pay effective beginning September 18, 1998, for each month of
employment as President and Chief Operating Officer, or such other
position as may be mutually agreed upon between Xxxxxx and Grease
Monkey, to a maximum severance compensation of 24 months' pay.
3. ADDITIONAL TERMS. All other terms and conditions of Xxxxxx'x employment
with Grease Monkey effective September 18, 1998 are contained in the
minutes of the meeting of the Board of Directors dated November 2,
1998.
IN WITNESS WHEREOF, the parties have executed this Amendment to the
Consultant Agreement as of the day and year first above written.
Grease Monkey Holding Corporation, a
Utah corporation
By: /s/ Xxxxx X. Xxxxxxx
-------------------------
Xxxxx X. Xxxxxxx, Chairman
/s/ Xxx X. Xxxxxx
----------------------------
Xxx X. Xxxxxx
