Exhibit 10.59
IMAGEMAX, INC.
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment") is
made by and between Xxxx Xxxxxxxxxxx, a resident of Louisiana (the "Employee"),
and ImageMax, Inc., a Pennsylvania corporation (the "Company").
BACKGROUND
The Company and the Employee entered into an Employment
Agreement on December 9, 1997 (the "Employment Agreement"). The parties desire
to amend the Employment Agreement to extend the term of Employee's employment,
and certain other matters as set forth below.
TERMS
NOW, THEREFORE, in consideration of the mutual covenants and
obligations contained herein, and intending to be legally bound, the parties,
subject to the terms and conditions set forth herein, agree as follows:
1. Section 1 of the Employment Agreement is hereby amended and
restated in its entirety to read as follows:
"Employment and Term. The Company hereby employs Employee and
Employee hereby accepts employment with the Company, as
Business Unit Leader (such position, Employee's "Position"),
commencing on December 9, 1997 (the "Initial Commencement
Date") and, unless earlier terminated in accordance with
Section 9 of the Employment Agreement, continuing through the
five year anniversary of the Initial Commencement Date, with
such initial term of employment being that period between the
Initial Commencement Date and the five year anniversary
thereof (the "Initial Term"). The Initial Term of this
Agreement shall be automatically renewed and extended for
consecutive one year periods (each a "Renewal Term") beginning
on the five year anniversary of the Initial Commencement Date
and on each anniversary thereafter for another year such that
each Renewal Term will be one (1) year, unless either the
Employee or the Company notifies the other in writing not less
than three (3) months prior to such anniversary date that the
party giving such notice elects for this Agreement to
terminate at the end of the current Renewal Term (the entire
period of time during which the Employee is employed by the
Company being referred to herein as the "Term").
2. By execution of this Amendment, the Company and the
Employee each acknowledge and agree that the Initial Term is and shall be
extended such that the first Renewal Term will commence on December 10, 2002.
3. Except as set forth above, the Employment Agreement shall
not be amended and remains in full force and effect.
[SIGNATURES ON FOLLOWING PAGE]
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IN WITNESS WHEREOF, the parties have caused this Employment
Agreement to be executed the day and year set forth below.
IMAGEMAX, INC.
By: /s/ Xxxx X. Xxxxxxxx
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Name: Xxxx X. Xxxxxxxx
Title: Chief Executive Officer
Date: As of December 9, 2002,
executed on April 14, 2003
/s/ Xxxx Xxxxxxxxxxx
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Xxxx Xxxxxxxxxxx
Date: As of December 9, 2002,
executed on April 14, 2003
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