EXHIBIT 10.6(b)
AMENDMENT
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This is an amendment to the agreement dated as of January 2, 1995 (the
"Employment Agreement") by and among Xxxxxxxx Xxxxx ("Employee"), Madis
Botanicals, Inc., a New Jersey corporation (the "Company") and Pure World, Inc.
("Pure World") pursuant to which Employee has been employed by the Company (the
"Amendment").
R E C I T A L S
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The Employee currently serves as Vice Chairman of the Company pursuant
to the Employment Agreement. As an inducement for the continued service of
Employee and his commitment to stay with the Company for at least three years,
the Company has agreed to increase the term of the Employment Agreement and the
annual compensation.
NOW, THEREFORE, the parties agree as follows:
1. Survival of Employment Agreement. The Amendment shall amend
the Employment Agreement only to the extent expressly provided herein and the
Amendment shall supersede the terms of the Employment Agreement only where the
two agreements are in conflict. In all other respects, the Employment Agreement
shall survive and control the terms of Employee's employment. The Amendment and
the Employment shall be incorporated together and constitute one agreement (the
"Amended Employment Agreement").
2. Term of Agreement. The term of employment under the Amended
Employment Agreement shall be three years from January 2, 1998 (the "Effective
Date") and shall extend until December 31, 2000.
3. Compensation. For all services rendered by the Employee
under the Amended Employment Agreement, the Company shall pay the Employee an
annual salary of $150,000, payable in the same periodic installments customary
for other employees of the Company.
4. Notices. All notices hereunder shall be in writing and
personally delivered or mailed by registered or certified mail, return receipt
requested, to the following address:
If to the Company:
000 Xxxx Xxxxxx
X.X. Xxx 00
Xxxxxxxxxx, Xxx Xxxxxx 00000
If to the Employee:
000 Xxxxxx Xxxxxx
Xxxxx Xxxxxxxxxx, Xxx Xxxxxx 00000
The Company or the Employee may hereunder designate another address to
the other in writing for purposes of notices under the Amended Employment
Agreement.
5. Waivers. Any waiver by any party of any violation of,
breach of or default under any provision of this Agreement by the other party
shall not be construed as, or constitute, a continuing waiver of such provision,
or waiver of any other violation of, breach of or default under any other
provision of this Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of October 20, 1997.
MADIS BOTANICALS, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
Title: President
PURE WORLD, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
Title: President
/s/ Xxxxxxxx Xxxxx
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XXXXXXXX XXXXX
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