EXHIBIT 10.24
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AGREEMENT, made as of the 10th day of October, 1996, by and
between XXXXX XXXXX, INC., a Delaware corporation with principal offices at 00
Xxxx 00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx (the "Company"), and XXXXXX X. BLONDY, an
employee of the Company, residing at 00 Xxxx Xxxx, Xxxxxxx, Xxx Xxxxxx 00000
(the "Executive"):
W I T N E S S E T H:
- - - - - - - - - -
WHEREAS, the Company and the Executive have entered in an employment
agreement dated as of May 15, 1996 (the "Employment Agreement"); and
WHEREAS, the Employment Agreement, for several purposes, refers to a
stock option which was granted by agreement between the Company and the
Executive dated as of May 15, 1996, which stock option was amended and restated
by agreement dated as of July 16, 1996, and which stock option was further
amended by agreement dated as of the date hereof (the "Original Stock Option");
and
WHEREAS, contemporaneously herewith, the Company is granting to the
Executive an additional stock option by agreement dated as of the date hereof
(the "Supplemental Stock Option"); and
WHEREAS, the parties hereto desire that the Employment Agreement be
amended so that all references therein to the "Stock Option" shall be read as
referring to both the Original Stock Option and the Supplemental Stock Option
and that references therein to the "Stock Option Agreement" shall be read as
referring to both the agreement for the Original Stock Option (the "Original
Stock Option Agreement") and the agreement for the Supplemental Stock Option
(the "Supplemental Stock Option Agreement").
NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants herein contained and other good and valuable consideration, the
parties hereto hereby agree as follows:
1. All references in the Employment Agreement to the "Stock
Option" shall be read as referring to both the Original Stock Option and
the Supplemental Stock Option.
2. All references in the Employment Agreement to the "Stock
Option Agreement" shall be read as referring
to both the Original Stock Option Agreement and the Supplemental Stock
Option Agreement.
IN WITNESS WHEREOF, the Company and the Executive have entered into
this Agreement as of the day and year first above written.
XXXXX XXXXX, INC.
By: _________________________
Name:
Title:
_____________________________
Xxxxxx X. Blondy
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