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Exhibit 10.11.1
AMENDMENT NUMBER ONE
TO THE EMPLOYMENT AGREEMENT BETWEEN
HANOVER CAPITAL MORTGAGE HOLDINGS, INC. AND XXXXXX X. XXXXXXXXX
This Amendment, effective as of August 10, 2000, by and among Hanover
Capital Mortgage Holdings, Inc., having an address at 00 Xxxx Xxxxxx, Xxxxx
0000, Xxx Xxxx, Xxx Xxxx 00000 (the "Company") and Xxxxxx X. Xxxxxxxxx (the
"Employee"), an individual whose residence is 000 Xxxx Xxxxxxxx Xxxxxx, Xx.
Xxxxxxxxx Xxxxxxx, Xxxxxxxx, 00000, to the Employment Agreement, effective as of
September 19, 1997, between the Company and the Employee (the "Agreement").
Capitalized terms used but not otherwise defined herein shall have the meanings
assigned to such terms in the Agreement.
1. Section 1 of the Agreement is hereby amended by deleting the
last sentence of such Paragraph and inserting in its place the following:
Subject to Sections 9(a) and 9(g) of this Agreement, this
Agreement shall be automatically extended upon each anniversary date of
the Effective Date for a successive five year term commencing on such
anniversary of the Effective Date unless the Employee or the Company
gives the other party not less than three (3) months written notice
prior to any anniversary of the Effective Date. Upon the date of each
automatic extension, the Expiration Date shall be the date ending five
years thereafter.
2. This amendment shall be construed in accordance with the laws
of the State of New York and the obligations, rights, and remedies of the
parties hereunder shall be determined in accordance with such laws without
regard to conflict of laws doctrine applied in such state.
3. This Amendment may be executed in any number of counterparts,
each of which shall constitute an original and all of which, taken together,
shall constitute one instrument.
4. Except as amended above, the Agreement shall continue in full
force and effect in accordance with its terms.
IN WITNESS WHEREOF, the Employee has executed this Amendment and the
Company has caused this Amendment to be executed and delivered by a duly
authorized officer as of the day and year first above written.
COMPANY:
HANOVER CAPITAL MORTGAGE HOLDINGS, INC.
By:
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Name: Xxxx X. Xxxxxxxx
Title: President
EMPLOYEE:
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Xxxxxx X. Xxxxxxxxx
