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EXHIBIT 10(III)(A)(1)
FIRST AMENDMENT TO THE EMPLOYMENT AGREEMENT BETWEEN ALEXANDER'S, INC.
AND XXXXX X. XXXXX
Amendment agreement, dated as of this the 11th day of December 1996
("Amendment Date") by and between Alexander's, Inc. and any successor in
interest thereto (the "Company") and Xxxxx X. Xxxxx (the "Executive").
WITNESSETH:
Whereas, the Company and the Executive are parties to an Employment
Agreement, dated March 29, 1995 (the "Current Agreement"); and
Whereas, the Company and the Executive now desire to amend the Current
Agreement in accordance with the terms and provisions hereinafter set forth;
Now, therefore, in consideration of these covenants and agreement set forth
herein and in the Current Agreement, and for other good and valuable
consideration, the parties hereto hereby agree as follows:
Effective January 1, 1997.
1. Salary: Your base salary will be at the rate of $120,000 per annum
and shall be paid to you in accordance with the Company's normal payroll
practice.
2. Duties: You shall be required to perform your duties for 104 days
per year, reduced from 156 days per year.
3. Benefits: You will not be entitled to any paid vacation during this
extension period.
4. No other changes: Except for the changes and amendments provided
above, the Current Agreement shall remain in full force and effect.
5. Governing Law: This Amendment Agreement shall be governed by and
construed in accordance with, the laws of the State of New York.
Alexander's, Inc.
By: /s/ XXXXXX XXXXXX
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Title: Vice President, Chief Financial
Officer
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/s/ XXXXX X. XXXXX
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Xxxxx X. Xxxxx
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