EXHIBIT 10.25
AMENDMENT NO. 3 TO EMPLOYMENT AGREEMENT
ENTERED INTO ON JANUARY 1, 1995 BY AND BETWEEN
THE UNIVISION NETWORK LIMITED PARTNERSHIP AND
XXX XXXXXXXXX, AS AMENDED ON JANUARY 31, 1996, AND
JANUARY 1, 1997 (THE "EMPLOYMENT AGREEMENT")
December 22, 1997
To: Mr. Xxx Xxxxxxxxx
c/o The Univision Network Limited Partnership ("Univision")
Dear Xx. Xxxxxxxxx:
Your Employment Agreement became effective on January 1, 1995 and will
expire on December 31, 1999 (the "Term"). Univision desires to extend the
Term an additional one year period. You and we hereby agree to amend the
Employment Agreement as follows:
1. TERM. The Term is hereby extended for an additional one year period.
The Employment Agreement shall expire on December 31, 2000, unless earlier
terminated in accordance with the terms set forth in the Employment Agreement.
2. SALARY. Your Base Salary for calendar years 1998 and 1999 shall
continue at the annual rate of Six Hundred Fifty Thousand Dollars ($650,000),
as provided in the first and second amendments to your Employment Agreement.
Your annual Base Salary rate for calendar year 2000 shall be Seven Hundred
Thousand Dollars ($700,000).
3. OTHER. Except as provided in this Amendment No. 3, all other terms
and conditions set forth in the Employment Agreement shall remain in full
force and effect, and the parties hereby ratify and confirm the Employment
Agreement, as amended.
4. EFFECTIVE DATE OF AMENDMENT NO. 3. Upon its execution by you and
Univision, this Amendment No. 3 shall become effective as of the date first
written above.
Please indicate your agreement to this Amendment No. 3 to the
Employment Agreement by signing this letter amendment in the space provided
below.
THE UNIVISION NETWORK LIMITED PARTNERSHIP
By: UNIVISION COMMUNICATIONS INC.,
General Partner
By: /s/ XXXXXX X. XXXXX
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Xxxxxx X. Xxxxx
Chief Financial Officer
I have read the preceding Amendment No. 3 and agree to its terms and
conditions:
/s/ XXX XXXXXXXXX
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Xxx Xxxxxxxxx
