Exhibit 10(B)
[LOGO]
0000 Xxxxxxx # 0, Xxxxx 000, Xxxxxxx, Xxxxxxx X0X 0X0
Xxxxx X. Xxxx
President &
Chief Executive Officer
Direct: (905) 760-9708
February 15, 2000
Xx. Xxxxx X. Xxxxxxxxx
0000 Xxxxxxx # 0
Xxxxx 000
Xxxxxxx, XX
X0X 0X0
Dear Xxx:
Re: Amendment to Employment Letter
This letter confirms the following amendments to the letter agreement
between you and InterTAN, Inc. (the "Company") dated March 1, 1995 concerning
your employment arrangements with the Company (the "Agreement"):
1. The last sentence of the Agreement is hereby amended by deleting the phrase
"State of Texas" and replacing it by the phrase "Province of Ontario" so
that such sentence now reads: "This Agreement shall be governed by the laws
of the Province of Ontario."
2. The Agreement is hereby amended by the deletion of the entire section
titled "Change of Control" in the Agreement and is replaced by the
following clause:
"Change of Control
-----------------
In the event that you are either:
(i) involuntarily terminated; or
(ii) there is a material reduction in the scope or level of your
duties, responsibilities or the effective authority associated
with your position within an eighteen (18) month period following
a "change of control" (as such term is defined in the Company's
Deferred Compensation Plan, as amended) of the Company,
you shall be entitled to receive severance benefits in an amount equal to
eighteen (18) months of your then current base salary and base bonus,
payable in equal monthly installments over the eighteen (18) month period
commencing on your employment termination date, and shall be entitled to
the continuation of
Tel: (000) 000-0000 Fax: (000) 000-0000
Company paid health, dental and life insurance (then in effect, whether
group or non-group) benefits for such 18 month period."
All other terms of your Agreement remain in full force and effect and
unamended. Nothing herein modifies or otherwise amends any of your rights and
entitlements under any other of the Company's plans and programs in which you
participate, including, without limiting the generality of the foregoing, the
1986 Stock Option Plan, the 1996 Stock Option Plan, the Deferred Compensation
Plan, the Employee Stock Purchase Program and any grants of restricted stock.
If the foregoing is acceptable, please sign and return a copy of
this letter to the attention of the undersigned.
Sincerely,
InterTAN, Inc.
/s/ Xxxxx X. Xxxx
By: Xxxxx X. Xxxx
President and Chief
Executive Officer
Agreed to and Accepted
this 29th day of February, 2000.
/s/ Xxxxx X. Xxxxxxxxx
___________________________
Xxxxx X. Xxxxxxxxx
Tel: (000) 000-0000 Fax: (000) 000-0000
