EXHIBIT 10.4
FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT
This Fourth Amendment to Employment Agreement ("Amendment") is made and
entered into as of the 24th day of July, 2001, by and between INTERFACE, INC.
(the "Company") and XXX X. XXXXXXXX ("Executive").
W I T N E S S E T H :
WHEREAS, the Company and Executive did enter into that certain
Employment Agreement dated as of April 1, 1997, as previously amended (the
"Agreement"); and
WHEREAS, the parties hereto desire to modify the Agreement in certain
respects, as set forth in this Amendment.
NOW, THEREFORE, in consideration of the mutual covenants and
undertakings contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
1. Section 1 of the Agreement is hereby amended to delete the
first sentence thereof in its entirety and substitute the following in its
place, said change to be effective as of July 1, 2001:
"Subject to the terms and conditions of this Agreement,
Executive shall be employed by the Company as its Chairman of
the Board, and shall perform such duties and functions for the
Company and its subsidiaries and affiliates as are set forth
in the Bylaws of the Company and as shall be specified from
time to time by the Board of Directors of the Company;
Executive hereby accepts such employment and agrees to perform
such duties as may be assigned to Executive."
2. The reference in Section 4 of the Agreement to "Executive's
63rd birthday" is hereby changed to "Executive's 70th birthday."
3. Section 6(a) of the Agreement is hereby amended to delete the
period xxxx at the end of the sentence and add the following to said subsection:
"; provided that, notwithstanding the foregoing, Executive's salary and bonus
opportunity can be reduced in accordance with Schedule "A" attached hereto and
hereby made a part hereof, which has been approved by the Compensation Committee
of the Company's Board of Directors."
4. The Agreement, as expressly modified by this Amendment, shall
remain in full force and effect in accordance with its terms and continue to
bind the parties.
IN WITNESS WHEREOF, Executive has executed this Amendment, and the
Company has caused this Amendment to be executed by a duly authorized
representative, as of the date first set forth above.
INTERFACE, INC.
By: /s/ Xxxxxx X. Xxxxxxx
---------------------------------------
Xxxxxx X. Xxxxxxx
President and Chief Executive Officer
EXECUTIVE:
/s/ Xxx X. Xxxxxxxx
-------------------------------------------
Xxx X. Xxxxxxxx
- 2 -
