Amendment to Non-Competition, Non-Solicitation & Severance Benefit Agreement
Amendment to
Non-Competition, Non-Solicitation & Severance Benefit Agreement
This Amendment, dated this 25th day of March 2013, amends that certain Non-Competition, Non-Solicitation & Severance Benefit Agreement (“Agreement”) entered into on August 1, 2011 between Choice Hotels International, Inc. (“Choice”), a Delaware corporation with principal offices at 00000 Xxxxxxxx Xxxx, Xxxxxx Xxxxxx, Xxxxxxxx 00000, and Xxxxx Xxxxx (“Employee”).
NOW, THEREFORE, in consideration of the promises contained in this Agreement, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree to the following terms:
1. Section 6 is amended by adding to the end thereof:
The Release Agreement must be irrevocably effective within sixty (60) days following the Termination Date. Subject to the six (6) month delay referenced in Section 9(f), the payments shall begin or be made on the sixtieth day following the Termination Date.
2. Section 8(b) is amended by adding to the end thereof:
The Release Agreement must be irrevocably effective within sixty (60) days following the Termination Date. Subject to the six (6) month delay referenced in Section 9(f), the payments shall begin or be made on the sixtieth day following the Termination Date.
3. Choice’s notification address in Section 10 of the Agreement shall be deleted in its entirety and replaced with the following:
“Choice Hotels International, Inc.
Xxx Xxxxxx Xxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxx 00000”
4. All other provisions of the Agreement not affected by this Amendment remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Agreement on the date first set forth above.
CHOICE HOTELS INTERNATIONAL, INC. | Employee | |
/s/ Xxxxxxx Xxxxxxxx | /s/ Xxxxx X. Xxxxx | |
Xxxxxxx Xxxxxxxx | Xxxxx X. Xxxxx | |
