EXHIBIT 10.4
FIRST AMENDMENT TO THE
AMENDED AND RESTATED
EXECUTIVE EMPLOYMENT AGREEMENT
------------------------------
This First Amendment (the "Amendment") is made and entered into as of the
5th day of August, 1996 and amends that certain Amended and Restated Executive
Employment Agreement made and entered into as of February 1, 1996 (the
"Agreement") by and among Xxxx Electronics Corp. ("Xxxx"); Xxxx Electronics
Group, Inc.; Harbor Electronics, Inc.; Xxxx Employment Company; Specialty
Connector Company; Socket Express, Inc.; Xxxx Technology, Inc.; Xxxx Holdings
U.S., Inc.; Xxxx Electronics Korea Ltd.; Xxxx Electronics B.V.; Xxxx
Electronics Manufacturing B.V.; Xxxx Electronics Distributor B.V.; Xxxx
Connector Systems S.L.; Xxxx Connector Systems GmbH; Bergtronics, O.y.; Xxxx
Electronics, s.r.l.; Xxxx Electronics Canada, Inc.; Xxxx Electronics Hong Kong
Limited; Xxxx Electronics Singapore PTE Ltd.; Xxxx Electronics S.A. (France);
CBOS Electronics, A.B.; Xxxx Electronics, S.A. (Switzerland); Connector
Systems Limited; TVS Xxxx Ltd.; Xxxx Electronics Taiwan Ltd.; Xxxx Electronics
Japan K.K.; Xxxx Electronics Engineering, K.K.; Xxxx Electronics China Ltd.;
Xxxx Electronics Nantong, Ltd.; Connector Systems (U.S.) Inc.; and Connector
Systems Technology, N.V. (all, including Xxxx, collectively called
"Employer"), and Xxxxx X. Xxxxx ("Employee").
W I T N E S S E T H :
WHEREAS, Employer and Employee previously entered into the Agreement
dated as of February 1, 1996; and
WHEREAS, Employer and Employee desire to amend the terms of the Agreement
as set forth herein.
NOW, THEREFORE, Employee and Employer, in consideration of the
agreements, covenants and conditions herein, hereby agree that the Agreement
is hereby amended as follows:
I. Section 2(b) entitled Bonus is hereby deleted in its entirety and
the following provision is inserted in lieu thereof:
b) Bonus. During the Employment Period, Employee shall be eligible
to receive an annual bonus (payable by the Employer) based upon Xxxx achieving
certain earnings per share objectives based on Xxxx'x consolidated fiscal year
results. This bonus shall be payable in cash incentive awards (and
restrictive stock if certain levels are achieved) to Employee to the extent
that actual consolidated earnings per share results meet or exceed certain
target performance levels which shall be established by the Compensation and
Stock Option Committee (the "Committee") of the Board of Directors in
accordance with the Compensation Policy adopted by the Committee as of the 5th
day of August, 1996, and as amended from time to time. To the extent that
Xxxx attains or exceeds a targeted performance level, Employee is entitled to
receive a cash incentive award (and an award of restrictive stock for
achieving results at or above an exceptional level of earnings per share
performance). Such bonuses are based upon the performance level as
established from time to time by the Committee. However, in addition, an
exceptional earnings per share performance may produce an exceptional short
term incentive pay out at the option of the Committee.
Other than the above deletion and replacement, the Agreement shall remain
in full force and effect and unamended.
IN WITNESS WHEREOF, the parties have executed this Amendment to the
Agreement as of the date first above written.
EMPLOYER: EMPLOYEE:
XXXX ELECTRONICS CORP.
By: /s/ XXXXX X. XXXXXXXX By: /s/ XXXXX X. XXXXX
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Xxxxx X. Xxxxxxxx, Vice President Xxxxx X. Xxxxx
XXXX ELECTRONICS GROUP, INC.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
HARBOR ELECTRONICS, INC.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX EMPLOYMENT COMPANY
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
SPECIALTY CONNECTOR COMPANY
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
SOCKET EXPRESS, INC.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX TECHNOLOGY, INC.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX HOLDINGS U.S., INC.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS KOREA LTD.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS B.V.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS MANUFACTURING B.V.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS DISTRIBUTOR B.V.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX CONNECTOR SYSTEMS S.L.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX CONNECTOR SYSTEMS GMBH
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
BERGTRONICS O.Y.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS S.R.L.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS CANADA, INC.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS HONG KONG LIMITED
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS SINGAPORE PTE LTD.
By: /s/ XXXXX X. XXXXXXXX
----------------------------------
Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS S.A. (France)
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
CBOS ELECTRONICS, A.B.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS, S.A. (Switzerland)
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
CONNECTOR SYSTEMS LIMITED
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
TVS XXXX LTD.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS TAIWAN LTD.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS JAPAN K.K.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS ENGINEERING, K.K.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS CHINA LTD.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
XXXX ELECTRONICS NANTONG, LTD.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
CONNECTOR SYSTEMS (U.S.), INC.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
CONNECTOR SYSTEMS TECHNOLOGY, N.V.
By: /s/ XXXXX X. XXXXXXXX
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Xxxxx X. Xxxxxxxx, Vice President
