AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment is made June 25, 1997, to the Employment Agreement dated April 1,
1997 (`the Agreement''), by and between Moto Photo, Inc. (``Employer'') and
Xxxxxxx X. Xxxxx (`Employee''). This Amendment is made to correct an error in
the Agreement and to make another change to which the parties have agreed.
The parties agree as follows:
1.Section 6 of the Agreement shall be amended by the addition of
the following as its last sentence:
During the term of this Agreement, Employer shall purchase and
maintain on the life of Employee a 10-year term life insurance
policy in the amount of $500,000, with the beneficiary to be
designated by Employee.
2.Section 8 of the Agreement shall be amended to read as follows:
8. Automobile. Employer shall furnish Employee with the use
of an automobile or an automobile allowance of $1,250.00 per
month during the term of this contact, subject to company
policy.
3.This Amendment shall be effective as of April 1, 1997.
4.Except as modified by this Amendment, the Agreement is affirmed.
EMPLOYER: MOTO PHOTO, INC.
By /s/ Xxxxx X. Xxxxxx
Xxxxx X. Xxxxxx, Chairman of the
Compensation Committee of the
Board of Directors of Moto Photo, Inc.
EMPLOYEE: XXXXXXX X. XXXXX
