EXHIBIT 10.41
ZIFF XXXXX MEDIA INC.
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
March 15, 2005
Mr. Xxxxx XxXxxxxx
000 Xxxxx Xxxxxx
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Re: Executive Agreement (the "Agreement") dated as of October 15,
2004 between you and Ziff Xxxxx Media Inc. (the "Company")
Dear Xxxxx:
This letter confirms that you and the Company have agreed that the last
two sentences of Section 3(b) of the Agreement are deemed deleted in its
entirety and replaced with the following:
"Executive shall not receive a bonus for 2004. Executive's target Bonus
(i.e., the amount that would be paid if the quantitative and qualitative
objectives are achieved) shall be not less than $250,000. Additionally, on
or before March 31, 2005, Executive shall be paid a one-time sign-on bonus
in the amount of $175,000."
Except as expressly modified above, the parties agree that the Agreement
remains unmodified and in full force and effect.
By signing below, each party hereby agrees with the above.
Sincerely,
Xxxxxxx Xxxxxx
Executive Vice President
AGREED:
________________________
Xxxxx XxXxxxxx
