AMENDMENT NO. 2 TO
EMPLOYMENT AGREEMENT
This Amendment No. 2 to Employment Agreement (the "Amendment") is made
and entered into this 10th day of September, 1998, by and between Xxxxxxxx
Casting Corporation, a Kansas corporation (the "Company"), and Xxxx X. Xxxxx
(the "Employee").
WHEREAS, the Company and the Employee entered into an Employment
Agreement dated as of June 14, 1991, which was amended to extend the term of
such agreement through June 14, 1998 (as amended, the "Employment
Agreement"), relating to the employment of the Employee as the Chief
Executive Officer of the Company; and
WHEREAS, the Company and the Employee desire and agree to amend the
Employment Agreement in the manner set forth in this Amendment;
NOW, THEREFORE, in consideration of mutual covenants and other good and
valuable consideration, the receipt and legal sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:
1. EXTENSION OF TERM OF EMPLOYMENT. Section 1 of the Employment
Agreement is deleted in its entirety and is hereby replaced with the
following:
1. TERM. The Company shall employ the Employee for a
term commencing upon the date of this Agreement and
continuing through June 30, 2001. This Agreement shall be
considered renewed for a continuing three-year term on the
30th of June of each year hereafter unless the Company or
the Employee provides six months notice to the other party
that such party intends to terminate this Agreement.
2. EFFECTIVE DATE. This Amendment shall be effective as of June 14,
1998.
3. GENERAL. Except as expressly provided herein, the Employment
Agreement shall continue in full force and effect as modified hereby.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
day and year first written above.
XXXXXXXX CASTING CORPORATION
By: /s/ Xxxxx X. XxXxxxxx
--------------------------------
Name: Xxxxx X. XxXxxxxx
--------------------------------
Title: V. P. & Treasurer
--------------------------------
/s/ Xxxx X. Xxxxx
-------------------------------------
Xxxx X. Xxxxx