AMENDMENT TO EMPLOYMENT AGREEMENT
WHEREAS, Xxxxxx X. Xxxxxxxx (the "Employee") and Successories, Inc. (formerly
Celex Group, Inc.) (the "Company") previously entered into an Employment
Agreement dated March 1, 1996.
WHEREAS, the Employee and the Company have agreed to amend the Employment
Agreement as set forth in this Amendment.
NOW THEREFORE, in consideration of the mutual obligations and covenants set
forth below, the parties hereby agree as follows:
The following provision is added to the Employment Agreement as Section 10.9:
In the event of the termination, expiration or non-renewal of this
Employment Agreement for any reason other than "just cause", the time
period during which Employee shall be entitled to exercise those stock
options previously granted to Employee in which Employee is vested and
eligible to exercise (pursuant to the terms of the applicable Option
Agreement) shall be extended to two (2) years from the date of such
termination, expiration or non-renewal or the end of the term of this
Employment Agreement, whichever is later. In the event of a termination for
just cause, the terms of each individual Option Agreement shall apply.
IN WITNESS WHEREOF, the parties have executed this first Amendment to the
Employment Agreement as of this 14th day of January, 1997.
SUCCESSORIES, INC. EMPLOYEE: XXXXXX X. XXXXXXXX
By: /s/ Xxxxxxx X. Xxxxxx /s/ Xxxxxx X. Xxxxxxxx
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Its: Secretary
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