EXHIBIT 10.110
AMENDMENT
TO
EMPLOYMENT AGREEMENT
THIS THIRD AMENDMENT AGREEMENT (the "Agreement") to the Employment
Agreement dated as of May 2, 1995, is made and entered into as of this 12th day
of February, 1999 by and between Xxxxx & Xxxxxx Manufacturing Company, a
Delaware corporation (the "Company") and Xxxxx X. Xxxxxx of Wickford, Rhode
Island (the "Executive").
WHEREAS the Company and the Executive entered into an Employment
Agreement dated as of May 2, 1995 (the "Employment Agreement"), pursuant to
which the Company agreed to employ the Executive as its President and Chief
Executive Officer for a three year term;
WHEREAS, the parties entered into a Second Amendment Agreement to the
Employment Agreement dated as of May 1st, 1998, extending the Executive's terms
of employment for one additional year expiring on May 1, 1999.
WHEREAS, the Company and Executive desire to further amend and modify
the Employment Agreement, as amended, to provide for a further extension of the
term of the Executive's employment for an additional one year term ending May 1,
2000 and fix his salary for 1999.
NOW THEREFORE, in consideration of this premises and the following
promises, the parties hereto hereby agree as follows:
1. The Company and the Executive agree that Section 2. Term of the
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Employment Agreement, as amended, shall be further amended and
modified by deleting the words "term of four (4) years" in line
two thereof and substituting therefor the words "term of five (5)
years".
2. With respect to Base Salary referred to in Section 4(a) of the
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Employment Agreement, as amended, it is agreed that the
Executive's annual Base Salary as of January 1, 1999 is
$425,272.00.
3. The Employment Agreement, except as expressly modified and amended
by the First Amendment, the Second Amendment and by this Third
Amendment, shall remain in full force and effect between the
parties.
IN WITNESS WHEREOF, this Third Amendment Agreement has been executed by
the Company by its duly authorized officer and attested to by its Secretary and
by the Executive as of the date first above written.
Xxxxx & Xxxxxx Manufacturing Company Executive
By: /s/ Xxxxxx X. Xxxxx /s/ Xxxxx X. Xxxxxx
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Xxxxxx X. Xxxxx Xxxxx X. Xxxxxx
Vice President and Chief Financial Officer
Attest
/s/ Xxxxx X. Xxxxx, III
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Xxxxx X. Xxxxx, III
Secretary
