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Exhibit 10 (dd)
AMENDMENT TO
EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement ("Amendment") is dated June 4,
2001, between WMS Industries Inc. with offices located at 000 X. Xxxxxxxxxx
Xxxxxxxxx, Xxxxxxxx, Xxxxxxxx 00000 ("Corporation"), and Xxxxx X. Xxxxxx, an
individual residing at 000 Xxxxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxxx 00000
(hereinafter called "Employee").
WHEREAS, Employee and the Corporation are parties to that certain
Employment Agreement dated May 8, 2001 (the "Agreement"); and
WHEREAS, Employee and the Corporation desire to amend the Agreement as
herein set forth:
NOW, THEREFORE, in consideration of the terms and conditions and the
covenants contained in the Agreement, and intending to be legally bound hereby,
the parties hereto agree as follows:
Paragraph 4.2 is hereby deleted in its entirety and replaced with the following
text:
"4.2 The Corporation will establish a discretionary performance bonus
program for Executive with respect to each fiscal year during the Term.
The performance bonus will be an amount of up to seventy-five percent
(75%) of Executive's then current base salary, and will be based upon
the extent to which Executive and the Corporation achieve individual
and corporate performance objectives and criteria established by the
President of the Corporation for such fiscal year."
Except as specifically modified or amended by the Amendment, all of the
terms and conditions of the Agreement are unmodified and shall remain in full
force and effect. In the event a discrepancy arises between the terms and
conditions of the Agreement and the Amendment, this Amendment shall prevail.
IN WITNESS WHEREOF, the parties have executed this Agreement this 4th day of
June, 2001.
WMS INDUSTRIES INC.
By: /s/ Xxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxxxx
Chief Executive Officer
EMPLOYEE
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
