1
Exhibit 10.25.1
AMENDMENT NO. 1
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TO
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SEVERANCE AGREEMENT
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THIS AMENDMENT NO. 1 TO SEVERANCE AGREEMENT between Cyrk, Inc., a Delaware
corporation (hereinafter referred to as the "Company"), and Xxxxxxx X. Xxxxxxx
(hereinafter referred to as the "Executive"), dated as of this 29th day of
March, 1999:
WHEREAS, Executive and the Company entered into a Severance Agreement dated as
of November 20, 1998 (the "Agreement");
WHEREAS, the Company and the Executive desire to amend the Agreement;
NOW THEREFORE, for good and valuable consideration, the parties agree as
follows:
1. Section 1.1 (b) of the Agreement is hereby amended by adding the following
immediately after the word "assistance" in the fifth line:
"accounting services and rental, insurance, maintenance and fuel costs in
connection with the lease of an automobile"
2. Section 1.2 of the Agreement is hereby amended by adding the following
immediately after the word "exercised" in the last line:
"; PROVIDED, HOWEVER, that this Section 1.2 shall not apply in the event
that the foregoing provisions may have an adverse effect on the ability of
the Company to be a party to a transaction which is treated for financial
accounting purposes as a so-called "pooling of interests", as determined in
good faith by PricewaterhouseCoopers LLP or such other certified public
accounting firm as the Compensation Committee of the Company's Board of
Directors may designate"
3. Except as amended hereby, the Agreement is ratified and confirmed in all
respects.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 1 to
Severance Agreement as of the day and year first above written.
Cyrk, Inc. Executive
By: /s/ Xxxxxx X. Xxxxxxxx /s/ Xxxxxxx X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxxx Xxxxxxx X. Xxxxxxx
Title: Chairman, Compensation Committee Executive Vice President
