EXHIBIT 10.1
SIXTH AMENDMENT TO EMPLOYMENT AGREEMENT
SIXTH AMENDMENT, made and entered into effective as of the 1st day of
July, 1995, to the Employment Agreement, dated as of June 30, 1986, by and
between SOUND ADVICE, INC., a Florida corporation (the "Employer"), and XXXXX
XXXXXXXX (the "Employee"), as previously amended by that First Amendment to
Employment Agreement, dated as of May 15, 1989, that Second Amendment to
Employment Agreement, dated as of October 27, 1989, that Third Amendment to
Employment Agreement, dated as of July 1, 1992, that Fourth Amendment to
Employment Agreement, dated as of July 1, 1993, and that Fifth Amendment to
Employment Agreement, dated as of July 1, 1994 (collectively, the "Agreement").
W I T N E S S E T H :
WHEREAS, the Employee and the Employer mutually desire and each of them
is willing, in accordance with the terms and conditions specifically restated,
added, deleted or otherwise set forth below, to amend the Agreement, it being
understood by the Employee and the Employer that all terms and conditions of the
Agreement not otherwise modified by this Sixth Amendment thereto shall remain
effective and continue operating in full force throughout the entire term of the
Agreement, as amended.
NOW, THEREFORE, for and in consideration of the covenants and
conditions hereinafter set forth, the parties hereto mutually agree as follows:
1. TERM. Section 2 of the Agreement is hereby amended to
provide that the term of the Agreement is hereby extended for
another year or until June 30, 1996.
2. BONUS. In lieu of any bonus arrangement set forth in Section
4(b) of the Agreement, the Employee shall be entitled to participate in the
Employer's annual incentive bonus plan and long term incentive stock option
program adopted in December 1994 by the Employer's Board of Directors and the
Stock Option Committee thereof, respectively.
3. EFFECT. Except as otherwise modified by this Sixth
Amendment, all terms, conditions and provisions of the Agreement
shall remain effective and continue operating in full force
throughout the entire term of the Agreement, as amended.
4. CAPTIONS. Paragraph titles or captions contained in
this Sixth Amendment are inserted only as a matter of
convenience and for reference and in no way define, limit,
extend or describe the scope of this Sixth Amendment or the
intent of any provision hereof.
IN WITNESS WHEREOF, the Employee has hereunto set his hand and the
Employer has caused this Amendment to be executed by its duly authorized officer
effective as of the day and year first above written.
SOUND ADVICE, INC.
By: /S/ XXXXXXX XXXXXXXX
---------------------
XXXXXXX XXXXXXXX, Senior
Vice President
EMPLOYEE:
/S/ XXXXX XXXXXXXX
------------------
XXXXX XXXXXXXX
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SIXTH AMENDMENT TO EMPLOYMENT AGREEMENT
SIXTH AMENDMENT, made and entered into effective as of the 1st day of
July, 1995, to the Employment Agreement, dated as of June 30, 1986, by and
between SOUND ADVICE, INC., a Florida corporation (the "Employer"), and XXXXXXX
XXXXXXXX (the "Employee"), as previously amended by that First Amendment to
Employment Agreement, dated as of May 15, 1989, that Second Amendment to
Employment Agreement, dated as of October 27, 1989, that Third Amendment to
Employment Agreement, dated as of July 1, 1992, that Fourth Amendment to
Employment Agreement, dated as of July 1, 1993, and that Fifth Amendment to
Employment Agreement, dated as of July 1, 1994 (collectively, the "Agreement").
W I T N E S S E T H :
WHEREAS, the Employee and the Employer mutually desire and each of them
is willing, in accordance with the terms and conditions specifically restated,
added, deleted or otherwise set forth below, to amend the Agreement, it being
understood by the Employee and the Employer that all terms and conditions of the
Agreement not otherwise modified by this Sixth Amendment thereto shall remain
effective and continue operating in full force throughout the entire term of the
Agreement, as amended.
NOW, THEREFORE, for and in consideration of the covenants and
conditions hereinafter set forth, the parties hereto mutually agree as follows:
1. TERM. Section 2 of the Agreement is hereby amended to
provide that the term of the Agreement is hereby extended for
another year or until June 30, 1996.
2. BONUS. In lieu of any bonus arrangement set forth in Section
4(b) of the Agreement, the Employee shall be entitled to participate in the
Employer's annual incentive bonus plan and long term incentive stock option
program adopted in December 1994 by the Employer's Board of Directors and the
Stock Option Committee thereof, respectively.
3. EFFECT. Except as otherwise modified by this Sixth
Amendment, all terms, conditions and provisions of the Agreement
shall remain effective and continue operating in full force
throughout the entire term of the Agreement, as amended.
4. CAPTIONS. Paragraph titles or captions contained in
this Sixth Amendment are inserted only as a matter of
convenience and for reference and in no way define, limit,
extend or describe the scope of this Sixth Amendment or the
intent of any provision hereof.
IN WITNESS WHEREOF, the Employee has hereunto set his hand and the
Employer has caused this Amendment to be executed by its duly authorized officer
effective as of the day and year first above written.
SOUND ADVICE, INC.
By: /S/ XXXXX XXXXXXXX
---------------------------
XXXXX XXXXXXXX, President
and Chief Executive Officer
EMPLOYEE:
/S/ XXXXXXX XXXXXXXX
--------------------
XXXXXXX XXXXXXXX
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