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EXHIBIT 10.5(f)
AMENDMENT
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the "Amendment") is made
January 4, 2000 by and between Valassis Communications, Inc. (the "Corporation")
and Xxxxxxx X. Xxxxxxx (the "Executive").
WHEREAS, the Corporation and the Executive entered into that
certain Employment Agreement effective as of January 17, 1994, as amended June
30, 1994, December 19, 1995, February 18, 1997, December 30, 1997 and December
15, 1998 (the "Employment Agreement"); and
WHEREAS, the Corporation and the Executive desire to amend the
Employment Agreement to extend the term of employment under the Employment
Agreement.
NOW THEREFORE, in consideration of the above recitals, the parties
hereto agree as set forth below.
1. Section 1(b) of the Employment Agreement shall be amended to
read in its entirety as follows:
"The Employment Period shall commence as of January 17, 1994
(the "Effective Date") and shall continue until the close of
business on December 31, 2002."
2. Section 2(a) of the Employment Agreement shall be amended to
read in its entirety as follows:
"(a) Position. During the Employment Period, the Executive
shall serve as Executive Vice President of Manufacturer Services."
3. The first sentence of Section 3(a) of the Employment Agreement
shall be amended to read as follows:
"The Executive's Annual Base Salary ("Annual Base Salary"),
payable on a biweekly basis, shall be at the annual rate of not
less than $250,000 effective January 1, 2000."
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4. All other terms of the Employment Agreement shall remain in
full force and effect.
5. This instrument, together with the Employment Agreement,
contains the entire agreement of the parties with respect to the subject matter
hereof.
IN WITNESS WHEREOF, the Executive and the Corporation have caused
this Agreement to be executed as of the day and year first above written.
VALASSIS COMMUNICATIONS, INC.
By:
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Name:
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Title:
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Xxxxxxx X. Xxxxxxx
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