EXHIBIT 10.13(a)
AMENDMENT NO. 1 TO EMPLOYMENT AND NONCOMPETE AGREEMENT
This Amendment No. 1 To Employment and Noncompete Agreement (the
"Amendment") is made and entered into as of the ____ day of ______, 1998, by and
between PCA INTERNATIONAL, INC., a North Carolina corporation (the "Company");
and XXXXX X. XXXXXX, a citizen and resident of the State of North Carolina
("Employee").
Background Statement
Employee and the Company entered into an Employment Agreement (the
"Agreement") dated as of June 9, 1997. Employee and the Company have agreed to
amend paragraph 4(a) to increase Employee's Base Rate. Capitalized words or
phrases used herein without definition shall have the meanings ascribed to them
in the Agreement.
NOW, THEREFORE, in consideration of the mutual duties and obligations set
forth herein, and intending to be legally bound, the parties hereto agree as
follows:
1. The Agreement is hereby amended by deleting paragraph 4(a) and
replacing it with the following:
"The annual base compensation rate to be paid to Employee for the services
to be rendered hereunder shall be Two Hundred Thousand Dollars
($200,000.00), payable in accordance with the Company's normal payroll
practices, subject to applicable federal and state income and social
security tax withholding requirements (the "Base Rate").
2. Except as set forth herein, the Agreement is ratified and confirmed in
all respects.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the day and year first above written.
Employee:
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Xxxxx X. Xxxxxx
Company:
PCA International, Inc.
By:
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Its:
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