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EXHIBIT 10(z)
August 23, 2000
Xx. Xxxxx Xxxxxxxxx
Re: Adjustment to Supplemental Retirement Benefit
Dear Xxxxx:
Effective as of the effective time of the merger contemplated by the
Agreement and Plan of Merger between The MONY Group, Inc., MONY Acquisition
Corp. and The Advest Group, Inc. (the "Merger Agreement"), The Advest Group,
Inc. (the "Company") hereby agrees to amend the letter agreement between you and
the Company, dated January 28, 1999 (the "Letter Agreement") that amended your
employment agreement dated November 30, 1995. The Letter Agreement is amended as
follows:
1. Post-Employment Services. The second to last sentence of Paragraph 2 of
the Letter Agreement shall be eliminated in its entirety and replaced
with the following sentence: "The amount of the benefit described in
Section 7(a)(1) of the Employment Agreement shall be treated for all
purposes to be an amount equal to $300,000."
2. Charitable Contributions. Paragraph 7 of the Letter Agreement shall be
deleted in its entirety.
This agreement shall be of no further force and effect in the event of
the termination of the Merger Agreement prior to the effective time of the
merger. This letter shall be binding upon the Company and its successors and
shall inure to the benefit of your beneficiaries.
Yours truly,
/s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Chief Executive Officer
Accepted and Acknowledged:
/s/ Xxxxx Xxxxxxxxx
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Xxxxx Xxxxxxxxx
