Exhibit 10-3
AMENDMENT TO
XXXXXX XXXXX'X EMPLOYMENT CONTRACT
The Employment Contract (the "Agreement"), dated as of August 31, 1993,
by and between Artistic Greetings Incorporated (the "Corporation"), a Delaware
corporation and Xxxxxx Xxxxx, 000 Xxxxxx Xxxxxx, Xxxxxx, Xxx Xxxx is hereby
amended (the "Amendment") as follows:
The Agreement shall be amended by (1) inserting the letter "(A)"
following the word "shall" in the fourth line of Section 5(a)(i) of the
Agreement and (2) inserting the phrase "and (B) in the event that the
Termination Notice is delivered as a result of an Acquisition of Control,
cause any outstanding stock options held by the Executive to automatically
vest as of the date of the Termination Notice" at the end of the penultimate
sentence of Section 5(a) of the Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the 27{th} day of February 1997.
ARTISTIC GREETINGS INCORPORATED
By: /S/ XXXXXX X. XXXXXXX
Name: Xxxxxx X. Xxxxxxx
Title: Senior Vice President Administration
and Assistant Secretary
By: /S/ XXXXXX XXXXX
Name: Xxxxxx Xxxxx