EXHIBIT 10.19
THINK NEW IDEAS, INC.
00 XXXX 00XX XXXXXX, 00XX XXXXX
XXX XXXX, XXX XXXX 00000
May 24, 1999
VIA FEDERAL EXPRESS
Xx. Xxxxxx Xxxxx
000 Xxxxxx Xxxxxx, #X000
Xxx Xxxx, Xxx Xxxx 00000
Re: Employment Agreement of June 30, 1996 (the "Employment Agreement")
Dear Xxx:
This is to confirm to you that, pursuant to Section 2 of that certain
Employment Agreement, dated June 30, 1996, between you and THINK New Ideas, Inc.
(the "Company"), the Company has agreed to extend your employment with the
Company for a period of one year (the "Extension Period") commencing upon
expiration of the current term of your employment at the close of business one
June 30, 1999 at an increased annual salary of $350,000 (representing the
aggregate of $29,167 in Monthly Compensation, as defined in Section 4(a) of the
Employment Agreement). The Company has further agreed that, should the Company
terminate your employment prior to expiration of the Extension Period for other
than "Just Cause" (as such term is defined in Section 9(a) of the Employment
Agreement), you shall be entitled to receive a payment equal to the product of:
(a) the Monthly Compensation multiplied by (b) the number of months remaining in
the Extension Period plus twelve months and the Non-Competition provision set
forth in Section 10 of the Employment Agreement shall automatically terminate.
The Employment Agreement shall remain in effect for the Extension Period
unmodified except as set forth herein.
Please know that your service and contribution to the Company is sincerely
appreciated.
Very truly yours,
/s/ Xxxxxxx Xxxxx
Xxxxxxx Xxxxx on behalf
of the Compensation Committee
cc: Xx. Xxxxxx Xxxxxxx
Xxxxx Xxxxxx, Esq.
Xxxxxxxx X. Xxxxxx, Esq.
