AMENDMENT TO EMPLOYMENT AGREEMENT
EXHIBIT 10.2
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement (the “Amendment”) is entered into as of March
29, 2007, by and between IMAGE ENTERTAINMENT, INC., a Delaware corporation (“Image”), and
XXXXX XXXXXXXX, an individual (“Executive”), with respect to that certain Employment
Agreement, dated April 1, 2004 by and between Image and Executive (the “Agreement”).
The following shall amend the Agreement currently in effect as set forth herein. Except as
modified by this Amendment, the Agreement shall remain in full force and effect. Capitalized terms
used herein and not otherwise defined shall have the meaning set forth in the Agreement.
1. Amendment of Paragraph 7. The first clause of the second sentence of Paragraph 7
shall be amended to replace March 31, 2007 with May 31, 2007 such that the amended sentence shall
read as follows:
“The second one year option must be exercised by Image by May 31, 2007, in the same manner
described above, to extend the term from April 1, 2008 to March 31, 2009.”
2. Amendment of Paragraph 13. The first sentence of Subsection (a)of Paragraph 13
shall be amended to read as follows:
“If (1) this Agreement is terminated by Image prior to expiration of the Term for any reason
other than (a) pursuant to Xxxxxxxxx 00 (Xxxxx) xx 00 (Xxxxxxxxx Xxxxxxxxxx/Xxxxxxxxxx), (x) for
Cause or (c) pursuant to Paragraph 14 (Executive’s Right to Terminate for Good Reason) and if such
termination occurs after a Change in Control, Executive shall be entitled to receive all of the
compensation, rights and benefits described in Paragraphs 3(a) and (b), 4 and 5 for a period of one
year following the effective date of termination, or through the expiration of the Term, whichever
is longer, and the severance described in Paragraph 6, as if this Agreement were in full force and
effect.”
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to the Agreement to be duly
executed as of the day and year first written above.
ACCEPTED AND AGREED: IMAGE ENTERTAINMENT, INC. |
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By: | /s/ Xxxxxx Xxxx Xxx | |||
Name: | Xxxxxx Xxxx Cho | |||
Title: | Senior Vice President, General Counsel and Corporate Secretary |
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/s/ Xxxxx Xxxxxxxx | ||||
Xxxxx Xxxxxxxx | ||||