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Exhibit 10.16a
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
AMENDMENT NO. 2, dated as of May 5, 2000, among SELECTIVE INSURANCE
GROUP, INC., a New Jersey corporation ("Selective"), having an office at 00
Xxxxxxx Xxxxxx, Xxxxxxxxxxx, Xxx Xxxxxx 00000, SELECTIVE INSURANCE COMPANY OF
AMERICA, a New Jersey corporation ("XXXX"), having an office at 00 Xxxxxxx
Xxxxxx, Xxxxxxxxxxx, Xxx Xxxxxx 00000, and XXXXXXX X. XXXXXX, having an address
at 00 Xxxxxx Xxxx, Xxxxxxxx Xxxxx, Xxx Xxxxxx 00000 (the "Executive"), to
Employment Agreement dated as of August 1, 1995, among Selective, XXXX and the
Executive, as heretofore amended by Amendment No. 1 thereto dated as of May 1,
1998 (as so amended, the "Employment Agreement").
WHEREAS, Selective, XXXX and the Executive have executed and
delivered the Employment Agreement, and Selective has guaranteed all of the
obligations of XXXX as the Employer under the Employment Agreement; and
WHEREAS, the parties hereto desire to further amend the Employment
Agreement to modify the description of the duties of the Executive, as set forth
in Section 4(a) of the Employment Agreement, and to modify the Salary (as
defined in Section 3 of the Employment Agreement) provided for therein.
THEREFORE, in consideration of the premises and the mutual covenants
hereinafter set forth, the parties hereto agree as follows:
1. The Salary, as defined and provided for in Section 3 of the
Employment Agreement, shall be paid to the Executive at a rate of not less than
Four Hundred Seventy-Five Thousand and 00/100 ($475,000.00) Dollars per year
during the Renewal Term.
2. The Executive is presently serving as an President and Chief
Executive Officer of XXXX and Selective, and all reference to the Employment
Agreement to Executive serving as an President and Chief Executive Officer of
the Company (as defined in the Employment Agreement) are hereby amended to refer
to the Executive as an Chairman of the Board, President and Chief Executive
Officer of the Company (as defined in the Employment Agreement) and Selective.
3. Selective reaffirms that it guarantees to the Executive the full
performance by XXXX of all of its obligations under the Employment Agreement as
amended herein.
4. Except as amended herein, the Employment Agreement shall continue
in full force and effect on and after the date hereof.
IN WITNESS WHEREOF, this Amendment has been duly executed by the
Executive and on behalf of Selective and XXXX by their duly authorized officers
as of the date and year first above written.
SELECTIVE INSURANCE GROUP, INC.
By:_____________________________________
Name: Thornton X.Xxxx
Title: Executive Vice President and
General Counsel
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SELECTIVE INSURANCE COMPANY
OF AMERICA
By:_____________________________________
Name: Thornton R. Land
Title: Executive Vice President and
General Counsel
________________________________________
Executive
