Exhibit 10.32
AMENDMENT NO. 5 (THE "AMENDMENT") TO
EMPLOYMENT AGREEMENT BETWEEN XXXXXX X. XXXXX AND
UNIVISION TELEVISION GROUP, INC., WHICH WAS ASSIGNED TO
UNIVISION COMMUNICATIONS INC. ("UNIVISION")
(AS PREVIOUSLY AMENDED, THE "EMPLOYMENT AGREEMENT")
January 1, 2000
To: Xx. Xxxxxx X. Xxxxx
Dear Xxxxxx:
Your Employment Agreement will expire on December 31, 2001 (the "Term").
Univision desires to extend the Term for 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, 2002, unless earlier
terminated in accordance with the terms set forth in the Employment Agreement.
2. SALARY. Your annual Base Salary rate shall be: Six Hundred Thousand Dollars
($600,000) for calendar year 2000; Six Hundred Thousand Dollars ($600,000) for
calendar year 2001; and Six Hundred Thousand Dollars ($600,000) for calendar
year 2002.
3. COMPETITIVE ACTIVITIES. The terms "competing with the business of the Company
or any of its affiliates" and "activity competitive with or adverse to Company's
Spanish language television and magazine business" as set forth in Section
8(g)(3) of the Standard Terms and Conditions of the Employment Agreement
include, without limitation, the following: any and all forms of media,
communication and entertainment, including, without limitation, television,
radio, the Internet (including e-services and e-commerce), music, movies,
theater, print and visual/audio entertainment via all methods of delivery
whether now known or hereafter invented, contemplated or devised.
4. OTHER. Except as provided in this Amendment, 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
hereby.
5. EFFECTIVE DATE OF AMENDMENT. Upon its execution by you and Univision, this
Amendment shall become effective as of the date first written above.
Please indicate your agreement to this Amendment to the Employment Agreement by
signing in the space provided below.
UNIVISION COMMUNICATIONS INC.
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
Vice President
I have read the preceding Amendment and agree to its terms and conditions:
/s/ XXXXXX X. XXXXX
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Xxxxxx X. Xxxxx
