AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
Exhibit 99.1
THIS AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT, dated as of December 6, 2006 (this
“AMENDMENT”), amends that certain EMPLOYMENT AGREEMENT dated as of February 14, 2003 by and between
MOTORCAR PARTS OF AMERICA, INC., a New York corporation formerly known as MOTORCAR PARTS &
ACCESSORIES, INC. (the “COMPANY”), and Xxxxxx Xxxxx, an individual (“EXECUTIVE”) (as amended by
that certain Amendment No. 1 to Employment Agreement dated as of April 22, 2005, the “EMPLOYMENT
AGREEMENT”), and is made and entered into with reference to the following facts (all capitalized
terms not otherwise defined herein have the respective meanings assigned to them in the EMPLOYMENT
AGREEMENT):
WHEREAS, the COMPANY and EXECUTIVE desire to amend the EMPLOYMENT AGREEMENT to extend the term
of EXECUTIVE’S employment.
NOW, THEREFORE, the parties hereby agree as follows:
1. Amendments to Employment Agreement.
(a) | Section 2 is hereby amended by replacing “March 31, 2008” with “August 30, 2009.” | ||
(b) | Section 7(c) is hereby amended and restated in its entirety to read as follows: |
“During the EMPLOYMENT TERM the COMPANY shall provide to EXECUTIVE an
automobile allowance in the amount of Fifteen Hundred Dollars ($1500.00)
per month, payable monthly. In addition, all costs of operating the
automobile, including fuel, oil, insurance, repairs, maintenance and other
expenses, shall be the responsibility of the COMPANY.
2. Notices. All notices, demands and other communications provided for under this
AMENDMENT shall be in writing and shall be delivered in accordance with Section 14 of the
EMPLOYMENT AGREEMENT.
3. Legal Expenses. The COMPANY shall reimburse EXECUTIVE for all reasonable legal
fees and disbursements incurred by EXECUTIVE in connection with the negotiation, preparation and
execution of this AMENDMENT.
4. Jurisdiction and Integration. This AMENDMENT shall be governed by and construed in
accordance with the laws of the State of California, without regard to the principles of conflicts
of law of such state. This AMENDMENT, together with the EMPLOYMENT AGREEMENT, contains the entire
understanding between the parties hereto relating to the subject matter hereof and supersedes any
prior understandings and agreements, whether oral or written, among the parties respecting such
subject matter.
5. Binding Agreement; Counterparts. This AMENDMENT shall be binding upon the parties
hereto, their successors, assigns and legal representatives. This AMENDMENT may be executed in
several counterparts, all of which together shall constitute one and the same agreement, binding on
all of the parties, notwithstanding that all of the parties are not signatories to the original or
same counterparts.
6. Full Force and Effect. Except as expressly amended by this AMENDMENT, the
EMPLOYMENT AGREEMENT shall continue in full force and effect in accordance with the provisions
thereof. As used in the EMPLOYMENT AGREEMENT, “hereinafter” and “hereof,” and other words of
similar import shall, unless the context otherwise requires, mean the EMPLOYMENT AGREEMENT as
amended by this AMENDMENT. In the event of any conflict or inconsistency between the terms and
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conditions of the EMPLOYMENT AGREEMENT and the terms and conditions of this AMENDMENT, the
terms and conditions of this AMENDMENT shall control.
IN WITNESS WHEREOF, the undersigned parties have duly executed and delivered this AMENDMENT as
of the date first above written.
MOTORCAR PARTS OF AMERICA, INC. | ||||
By: | /s/ XXXXXXX XXXXXXX | |||
Name: | XXXXXXX XXXXXXX | |||
Title: | VICE PRESIDENT AND GENERAL COUNSEL | |||
/s/ XXXXXX XXXXX | ||||
XXXXXX XXXXX | ||||
ACKNOWLEDGED BY THE BOARD OF DIRECTORS OF MOTORCAR PARTS OF AMERICA, INC.: | ||||
/s/ XXXXXXX X. BORNEO | ||||
XXXXXXX X. BORNEO | ||||
/s/ XXXXXX XXX | ||||
XXXXXX XXX | ||||
/s/ XXX XXXXX | ||||
XXX XXXXX | ||||
/s/ XXX XXXXXX | ||||
XXX XXXXXX |
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