EXHIBIT 10.15 (a)
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
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THIS FIRST AMENDMENT (this "Amendment"), made this 6/th/ day of March,
2000, is made to that certain Employment Agreement (the "Agreement") by and
between XXXXXX X. XXXXXXXX ("Executive") and XXX. A. BANK CLOTHIERS, INC.
("Employer"), dated as of November 1, l999.
WHEREAS, Executive and Employer are the sole parties to the Employment
Agreement; and
WHEREAS, Executive and Employer have agreed to amend the Employment
Agreement,
NOW THEREFORE, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, Executive and Employer hereby amend
the Employment Agreement as follows:
1. Section 4.2 B Guaranteed Bonus is hereby amended by adding the
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following sentence at the end thereof: "Notwithstanding anything to the contrary
contained herein, in the event Executive terminates this Agreement as a result
of a change in control pursuant to Section 5.4, the guaranteed bonus of $168,750
for the period from January 30, 2000 through October 30, 2000 shall be due and
payable in full on the last day of the Employment Period."
2. Section 6.1 Termination Without Cause by Employer or for Good
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Reason or Change of Control by Executive is hereby amended by deleting from the
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5/th/ and 11/th/ lines thereof the phrase ", within 60 days of the date of
termination," and substituting in lieu thereof in each case the phrase ", on the
last day of the Employment Period,".
3. Section 6.3 Termination for Cause Following a Change in Control is
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hereby amended by adding to the 3/rd/ line thereof, immediately following the
word " Executive" the phrase ", on the last day of the Employment Period,".
Except as specifically amended hereby, the Employment Agreement shall
remain in full force and effect according to its terms. To the extent of any
conflict between the terms of this Amendment and the terms of the remainder of
the Employment Agreement, the terms of this Amendment shall control and prevail.
Capitalized terms used but not defined herein shall have those respective
meanings attributed to them in the Employment Agreement. This Amendment shall
hereafter be deemed a part of the Employment Agreement for all purposes.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the date first above written.
XXX. A. BANK CLOTHIERS, INC.
By: /s/ Xxxxx X. Xxxxxx /s/ Xxxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxx, XXXXXX X. XXXXXXXX
Chairman, Compensation Committee
