FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT is made this ____ day of
February, 1998 between EarthLink Network, Inc., a Delaware corporation (the
"Company") and Xxxxxxx X. Xxxxx (the "Employee").
RECITALS
WHEREAS, the Board of Directors of the Company has determined that it is
in the best interests of the shareholders of the Company to enter into a
strategic relationship in the area of Internet access and related services
with Xxxxxx Corporation ("Xxxxxx") and its affiliates, pursuant an Investment
Agreement, dated as of February __, 1998 among Xxxxxx, Xxxxxx Communications
Company, L.P., a Delaware limited partnership ("Xxxxxx Sub"), Newco, Inc., a
Delaware corporation ("Newco") and its subsidiary (the "Investment
Agreement");
WHEREAS, as a condition to the consummation of the transactions
contemplated in the Investment Agreement (COPY TO COME);
WHEREAS, the Company and Employee have agreed to execute and deliver
this Amendment to satisfy such condition and as an inducement to Xxxxxx and
Xxxxxx Sub to enter into transactions contemplated in the Investment
Agreement;
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which hereby are acknowledged, Company and Employee agree as
follows:
SECTION 1(b) - DEFINITIONS. "Change in Control." Amend subsection (b)
of Section 1 to add the following sentence to the end of the subparagraph:
"Notwithstanding the foregoing, none of the transactions
contemplated by that certain Investment Agreement, dated as of
February __, 1998, among Xxxxxx Corporation, a Kansas corporation,
Xxxxxx Communications Company, LP, a Delaware limited partnership,
the Company, Newco, Inc., a Delaware corporation and Newco Sub, a
Delaware corporation either individually or in the aggregate, shall
be deemed to be a "change in control event"."
This Amendment, and the rights of the parties hereunder, shall be
governed by and construed in accordance with the laws of the State of
California.
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IN WITNESS WHEREOF, Employee and the Company have executed and delivered
this Agreement as of the date first shown above.
EMPLOYEE:
/s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
THE COMPANY:
EARTHLINK NETWORK, INC.
By: /s/ Sky X. Xxxxxx
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Title: Founder and Chairman
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