Exhibit 10.9
SECOND AMENDMENT
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This second amendment (this "Amendment") is made on this 18th day of
February, 1998 to the Employment Agreement, dated February 1, 1996, as amended
as of September 1, 1997, by and between Xxxx Xxxxxxxx and IDM Environmental
Corp., a New Jersey corporation (the "Employment Agreement"). All capitalized
terms not defined herein shall be defined as in the Employment Agreement.
Pursuant to and in accordance with Section 7.01 of Article VII of the
Employment Agreement, the parties hereto agree to modify the Employment
Agreement as follows:
1. Section 2.06 of Article II of the Employment Agreement is hereby deleted
in its entirety and replaced with the following:
"2.06 Stock Option Grant. The Company hereby grants to the
Employee an option to purchase from the Company Two Million Two
Hundred Fifty Thousand (2,250,000) shares of the common stock of
the Company, $0.001 par value, at an exercise price of $3.719 per
share subject to the terms and conditions set forth on Appendix A
attached hereto and made a part hereof."
2. This Amendment and the provisions set forth herein are effective
immediately and are merged into and made a part of the Employment Agreement.
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IN WITNESS WHEREOF, the parties have executed this Amendment on the day and
date herein first set forth. IDM ENVIRONMENTAL CORP.
By: /s/ Xxxxx X. Xxxxx
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Xxxxx X. Xxxxx, Chairman
EMPLOYEE:
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Xxxx Xxxxxxxx
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