EXHIBIT 10.26
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
ENTERED INTO ON FEBRUARY 10, 1997 BY AND BETWEEN
UNIVISION COMMUNICATIONS INC. AND XXXXX XXXXXXXX, (THE "EMPLOYMENT AGREEMENT")
December 22, 1997
To: Mr. Xxxxx Xxxxxxxx
c/o Univision Communications, Inc. ("UCI")
Dear Xx. Xxxxx:
Your Employment Agreement became effective on February 10, 1997 and will
expire on February 9, 2000 (the "Term"). UCI desires to extend the Term
through December 31, 2000. You and we hereby agree to amend the Employment
Agreement as follows:
1. TERM. The Term is hereby extended through December 31, 2000. The
Employment Agreement shall expire on December 31, 2000, unless earlier
terminated in accordance with the terms set forth in the Employment Agreement.
2. SALARY. Your Base Salary shall continue at the annual rate of Five
Hundred Thousand Dollars ($500,000) for calendar year 1998 and Six Hundred
Thousand Dollars ($600,000) for calendar year 1999, as provided in the
Employment Agreement. Your annual Base Salary rate in calendar year 2000
shall be Six Hundred Thousand Dollars ($600,000).
3. OTHER. Except as provided in this Amendment No. 1, all other terms
and conditions set forth in the Employment Agreement shall remain in full
force and effect, and the parties hereby ratify and confirm the Employment
Agreement, as amended.
4. EFFECTIVE DATE OF AMENDMENT NO. 1. Upon its execution by you and UCI,
this Amendment No. 1 shall become effective as of the date first written
above.
Please indicate your agreement to this Amendment No. 1 to the
Employment Agreement by signing this letter amendment in the space provided
below.
UNIVISION COMMUNICATIONS INC.
By: /s/ XXXXXX X. XXXXXX
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Xxxxxx X. Xxxxxx
I have read the preceding Amendment No. 3 and agree to its terms and
conditions:
/s/ XXXXX XXXXXXXX
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Xxxxx Xxxxxxxx
