February 17, 1997
Terrace Holdings, Inc.
0000 Xxxxxxxx Xxxx
Xxxxx X-000
Xxxx Xxxxxxxxxx, XX 00000
Re: Amendment to Employment Agreement
Ladies and Gentlemen:
Reference is made to that certain Employment Agreement, made and entered
into as of September 1, 1995, effective September 1, 1995, by and between
Terrace Holdings, Inc., a Delaware corporation (the "Company") and myself. In
consideration of the issuance to me of warrants to purchase 750,000 shares of
the Company's common stock, upon the terms and conditions set forth in that
certain Amendment to Asset Acquisition Agreement dated as of December 9, 1996,
by and between the Company and DownEast Frozen Desserts, LLC, I hereby agree
that Paragraph 10 of my Employment Agreement is deleted in its entirety and of
no further force or effect. In all other respects, my Employment Agreement, as
hereby amended, shall remain in full force and effect.
If the foregoing correctly reflects your understanding of the amendment to
my Employment Agreement, please so indicate in the space provided below for your
signature, whereby this letter will be a legally binding amendment to my
Employment Agreement.
/s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
ACCEPTED:
Terrace Holdings, Inc.
By: /s/ Xxxxxxxx X. Xxxxx, EVP
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Date: February 17, 1997
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