AMENDMENT TO EMPLOYMENT AGREEMENT
AMENDMENT
TO EMPLOYMENT AGREEMENT
THIS
AMENDMENT, dated as of December 28, 2006 (this “Amendment”),
amends the Employment Agreement dated as of May 14, 2004 by and among Lazy
Days
R.V. Center, Inc., a Florida corporation (the “Company”),
RV
Acquisition Inc., a Delaware corporation, Xxxx Xxxxxx (the “Executive”),
and
Bruckmann, Xxxxxx, Xxxxxxxx & Co. II, L.P., a Delaware limited partnership
(the “Employment
Agreement”).
WHEREAS,
the parties to the Employment Agreement desire to amend and supplement certain
terms of the Employment Agreement as described herein; and
WHEREAS,
all capitalized terms not defined herein shall have the meanings ascribed to
such terms in the Employment Agreement.
IT
IS
HEREBY AGREED AS FOLLOWS:
| 1. |
Section
1(b)(i) of the Employment Agreement shall be replaced in its entirety
by
the following paragraph:
|
(i)
Effective as of August 5, 2005, the Executive agrees to serve as the Chief
Executive Officer of the Company, subject to the supervision and direction
of
the Board.
| 2. |
Section
2(b)(i) of the Employment Agreement shall be replaced in its entirety
by
the following paragraph:
|
(i)
During the Employment Period, Executive’s base salary shall be (x) effective as
of May 14, 2004 and until December 31, 2005, $500,000 per annum, as adjusted
on
each anniversary date of May 14, 2004 (such anniversary date, the “Annual
Adjustment Date”)
to the
amount that equals $500,000 increased by a percentage, the numerator of which
is
the Consumer Price Index for Urban Wage Earners and Clerical Workers, as
published by the Bureau of Labor Statistics of the United States Department
of
Labor (the “CPI”),
as of
the applicable Annual Adjustment Date, and the denominator of which is the
CPI
as of May 14, 2004, and (y) effective as of January 1, 2006, $600,000 per annum,
as adjusted on each Annual Adjustment Date subsequent to January 1, 2006 to
the
amount that equals $600,000 increased by a percentage, the numerator of which
is
the CPI as of the applicable Annual Adjustment Date and the denominator of
which
is the CPI as of May 14, 2005, provided,
however,
that in
each case of (x) and (y), the base salary shall not be decreased pursuant to
the
terms of this Section
1(c)(i)
(the
“Base
Salary”),
which
Base Salary shall be payable in regular installments in accordance with the
Company’s general payroll practices.
| 3. |
Sections
9(b), 9(d), 9(e), 9(f), 9(g) and 9(i) of the Employment Agreement
are
restated herein in full, with the exception that references to “this
Agreement” shall be references to “this
Amendment”.
|
| 4. |
Except
as expressly set forth herein, this Amendment shall not by implication
or
otherwise alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the
Employment Agreement, all of which shall remain in full force and
effect.
|
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IN
WITNESS
WHEREOF, the parties hereto have executed this Amendment as of the date first
written above.
By:
/s/Xxxxx
Xxxxxxxx
Name:
Xxxxx
Xxxxxxxx
Title:
Director of Corporate Reporting
and
Investor
Relations
By:
/s/Xxxx
Xxxxxx
Name:
Xxxx
Xxxxxx
Title:
President/CEO
| Agreed |
and
Accepted
|
as
of the
date first above written:
RV
ACQUISITION INC.
By:
/s/Xxxxx
Xxxxxxxx
Name:
Xxxxx Xxxxxxxx
Title:
Secretary
BRUCKMANN,
XXXXXX, XXXXXXXX & CO. II, L.P.
By:
BRSE,
L.L.C.
Its: General
Partner
By: /s/Xxx
Xxxxxxx
Name:
Xxx
Xxxxxxx
Title: Managing Director
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