EXHIBIT 10.06
AMENDMENT
TO EMPLOYMENT AGREEMENT
DATED APRIL 1, 1997
Reference is made to the Executive Employment Agreement dated as of
April 1, 1997 (the "Agreement") by and between X. Xxxxx, Inc. and Xxxx X.
Xxxxxxxxx. Pursuant to paragraph 19 of the Agreement and in order to
amend certain provisions of the Agreement, the Agreement is hereby amended as
follows:
1. Paragraph 3 of the Agreement is hereby amended by deleting
subparagraph (a) in its entirety and inserting in its place the following
subparagraph:
"(a) Base Salary - Commencing effective September 1, 1997, the Company
shall pay the Employee during the Term an annual base salary ("Base
Salary") of not less than $525,000, payable in equal installments in
accordance with the Company's regular pay intervals for its senior
executives; provided, however, that commencing effective September 1,
1998, the Employee's annual Base Salary shall be increased to $575,000.
In the event that the Term of this Agreement shall be extended for one
or more years beyond its current expiration date of April 1, 1999,
then, commencing effective September 1, 1999, the Employee's annual
Base Salary shall be increased to $625,000.
2. All other terms of the Agreement shall remain unchanged and
continue in full force and effect.
X. XXXXX, INC.
By:/s/ Xxxxxxx X. Xxxxx September 1, 1997
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Xxxxxxx X. Xxxxx Date
Chairman of the Board
/s/Xxxx X. Xxxxxxxxx September 1, 1997
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Xxxx X. Xxxxxxxxx Date
