EXHIBIT 10.15
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT, DATED AS OF SEPTEMBER 17, 1999, BETWEEN
TELEMUNDO NETWORK GROUP LLC, TELEMUNDO COMMUNICATIONS GROUP, INC.
AND XXXXX X. XXXXXXXX
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT (this "Amendment") dated as of
December 6, 2000, between TELEMUNDO NETWORK GROUP LLC, a Delaware limited
liability company (the "Company"), TELEMUNDO COMMUNICATIONS GROUP, INC., a
Delaware corporation ("Telemundo Communications") and XXXXX X. XxXXXXXX
("Employee")
WHEREAS, the Company and Employee are parties to that certain
Employment Agreement dated as of July 7, 1999, as amended by Amendment No. 1 to
Employment Agreement dated as of September 17, 1999 (collectively, the
"Agreement").
WHEREAS, concurrent with the execution and delivery of this Amendment,
Liberty Media Corporation and SPE Mundo Investment Inc., a wholly owned
subsidiary of Sony Pictures Entertainment Inc., each are transferring a portion
of their respective interests in the Company to Telemundo Communications, solely
in exchange for equity interests in Telemundo Communications.
WHEREAS, the Company, Telemundo Communications and Employee wish to
amend the Agreement by this Amendment.
NOW, THEREFORE, the parties hereto agree as follows:
1. All terms used herein but not defined shall have the meanings
given in the Agreement.
2. Employee hereby consents to the assignment of the Agreement
and of his services to be performed under the Agreement by the
Company to Telemundo Communications and Telemundo
Communications assumes all obligations and duties under the
Agreement and the Company is released of any and all further
obligations or liabilities under the Agreement.
3. Paragraph 2(a) of the Agreement is hereby amended and restated
in its entirety to read as follows:
(a) During the Employment Period, Employee shall serve as
President and Chief Executive Officer of Telemundo
Communications Group, Inc., be responsible to and
report to the Board of Directors of Telemundo
Communications Group, Inc. (the "Designee"); perform
such services as are consistent with Employee's
position hereunder as the Chief Executive Officer of
Telemundo Communications Group, Inc. and such
services consistent therewith as the Designee may
from time to time require; devote Employee's entire
business time, ability and energy exclusively to the
performance of Employee's duties hereunder; and use
Employee's best efforts to advance the interests and
businesses of Telemundo Communications Group, Inc.,
its divisions and subsidiaries. During the Employment
Period nobody shall be given the title of Chairman of
Telemundo Communications Group, Inc.
4. Paragraph 2(b) of the Agreement is hereby amended and restated
in its entirety to read as follows:
(b) All personnel of Telemundo Communications Group,
Inc., and of its operating subsidiaries and
divisions, shall report to Employee and Employee
shall have full authority to hire and fire any and
all personnel of Telemundo Communications Group, Inc.
and its operating subsidiaries and divisions at
Employee's sole discretion subject to such approval
rights as are accorded to the stockholders of
Telemundo Communications Group, Inc. under the
Stockholders Agreement then controlling between the
stockholders and to the Members in the Company
Operating Agreement then controlling between the
Members.
5. Except as expressly modified herein, all of the terms of the
Agreement remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement or
caused it to be executed on their behalf as of the date first above written.
TELEMUNDO NETWORK GROUP LLC
By: /s/ Xxxx Xxxxx
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TELEMUNDO COMMUNICATIONS GROUP, INC.
By: /s/ Xxxx Xxxxx
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/s/ Xxxxx X. XxXxxxxx
-------------------------------------
Xxxxx X. XxXxxxxx
