Exhibit 10.115
Amendment dated as of March 31st, 2003 (this "Amendment") to the Amended
and Restated Employment Agreement made as of the 17th day of April 2002 (the
"Agreement") between I.C. Xxxxxx & Company, L.P., a Delaware limited partnership
(the "Company") and Xxxxxx X. Wielespki (the "Executive").
WHEREAS, the Executive is employed pursuant to the Agreement as the
Company's Vice President and Chief Financial Officer; and
WHEREAS, the Company desires to modify the terms of the Executive's
employment and his responsibilities under the Agreement in the manner
hereinbelow provided; and
WHEREAS, the Executive is willing to accept such modifications,
NOW, THEREFORE, in consideration of the foregoing and the mutual terms and
provisions hereinafter set forth, the parties agree as follows:
1. Amendment of Section 1. The provisions of Section 1 of the Agreement are
hereby deemed to have been amended to read, as follows:
"1. Employment. The Company hereby employs the Executive as its Vice
President - Finance, and agrees to continue the Executive in that position
through the end of the term of this Agreement."
2. Amendment of Section 3. The provisions of Section 3 of the Agreement are
hereby deemed to have been amended to read, as follows:
"3. Base Salary. The Executive's base salary for each fiscal year of
the Company during the term of this Agreement shall be $180,000 per annum.
Such base salary may be increased based upon periodic reviews by the
Compensation Committee of the Board of Directors. For purposes of this
Agreement, "fiscal year" shall mean calendar year. The Executive's base
salary shall be paid throughout each fiscal year during the Employment
Period and any renewal or extension thereof in accordance with the normal
payroll practices of the Company then in effect."
3. Amendment of Section 6A. The provisions of Section 6A of the Agreement
are hereby deemed to have been amended to read, as follows:
"6. Duties.
A. During the term of this Agreement, the Executive shall serve as
Vice President - Finance, have such powers and shall perform such duties as
are incident and customary to his office, including those described in the
Company's By-Laws (as amended from time to time), and shall perform such
other executive and administrative duties and functions commensurate with
such position as from time to time shall be assigned to him by the Chief
Operating and Chief Financial Officer and/or the Board of Directors of
Xxxxxx. The Executive shall perform such additional duties and functions
without separate compensation, unless otherwise authorized by the Board of
Directors of Xxxxxx."
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4. Continuation of Effectiveness of the Agreement. The Agreement, as
amended by this Amendment, shall continue in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first above written.
I.C. Xxxxxx & Company, L.P.
By: I.C. Xxxxxx & Company, Inc.,
General Partner
By:/s/ Xxxxxx X. Xxxxxxxxx
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Xxxxxx X. Xxxxxxxxx, President
/s/ Xxxxxx X. Xxxxxxxxx
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Xxxxxx X. Xxxxxxxxx
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