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EXHIBIT 10.9(d)
THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment is made effective as of August 1, 2000, by and between
Fremont General Corporation (the "Company") and Xxxxx X. XxXxxxxx (the
"Executive"). Unless otherwise defined herein, capitalized terms used in this
Amendment shall have the same meaning as in the Employment Agreement dated
January 1, 1994.
WHEREAS, the Executive and the Company entered into an employment
agreement dated January 1, 1994, as amended effective as of August 1, 1996 and
as amended as of August 1, 1997 (the "Employment Agreement"); and
WHEREAS, the Executive and the Company desire to amend the Employment
Agreement to extend the employment period to provide additional security to the
Executive and to encourage the Executive to continue employment with the
Company.
NOW, THEREFORE, in consideration of the foregoing recitals and the
respective covenants and agreements of the parties contained in this document
and in consideration of the continuing employment of Executive by the Company,
the Company and the Executive agree to amend the Employment Agreement as
follows:
1. Section 2 ("Employment Period") shall be amended by revising
subsection (a) thereof to read as follows:
"(a) Basic Rule. The employment period (the "Employment
Period") began upon the Effective Date and continued for an initial
term of three years. Effective as of August 1, 2000, the Employment
Period shall be extended for an additional term of three years, unless
sooner terminated in accordance with paragraphs (b) - (d) below. After
such additional three year Employment Period, or any extension term,
the Employment Period shall be automatically extended for additional
one year terms unless terminated by either party with at least 90 days'
advance written notice prior to the end of the then current term."
3. To the extent not amended hereby, the Employment Agreement is
ratified and confirmed in its entirety.
IN WITNESS WHEREOF, this Amendment has been entered into as of the date
first set forth above.
EXECUTIVE FREMONT GENERAL CORPORATION
By:
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Xxxxx X. XxXxxxxx Xxxxx X. Xxxxxxx
Title: President and Chief Operating Officer
Date: By:
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Xxxxxxxxx X. Xxxx
Title: Chair, Compensation Committee of the
Board of Directors
