EXHIBIT 10.3
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (the "Amendment") is entered
into as of the 1st day of July, 1996, by and between Renaissance Solutions,
Inc., a Delaware corporation with its principal place of business at Lincoln
North, 00 Xxx Xxxxxxx Xxxx, Xxxxxxx, Xxxxxxxxxxxxx 00000 (the "Corporation"),
and Xxxxx X. Xxxxxx, 000 Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx 00000 (the
"Employee").
WHEREAS, the Corporation and the Employee are parties to an Employment
Agreement, dated as of January 31, 1995 (the "Employment Agreement"), pursuant
to which the Employee, inter alia, serves as Co-Chairman of the Corporation; and
WHEREAS, the Corporation and the Employee desire to amend the Employment
Agreement with respect to the annual base salary provided for therein;
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Corporation and the Employee
agree as follows:
1. Notwithstanding the provisions of Section 3.1 of the Employment
Agreement, the Employee's annual base salary, effective July 1, 1996, shall be
$375,000.
2. In all other respects, the Employment Agreement shall remain in full
force and effect and is hereby affirmed and ratified.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the day and year set forth above.
RENAISSANCE SOLUTIONS, INC.
By: /s/ Xxxxxx X. XxXxxxxx
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Title: Vice President, Chief Finanical
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Officer and Chief Operating Officer
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EMPLOYEE:
/s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
