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EXHIBIT 10.12.3
[CD RADIO LETTERHEAD]
January 28, 1997
Xx. Xxxxxx X. Xxxxxxxx
CD Radio Inc.
0000 00xx Xxxxxx, X.X.
Washington, D.C. 20037
Re: Extension of Employment Agreement
Dear Xxx:
By this letter CD Radio Inc. (the "Company") hereby confirms to you its
extension of the term of your Employment and Noncompetition Agreement dated as
of February 2, 1994 (the "Agreement") for an additional one (1) year period,
with the term of the Agreement now to end as of January 1, 1998. It is
understood that the terms and conditions of your employment will in all other
respect continue to be controlled by the Agreement with the exception that all
provisions of the Agreement (including any nondisclosure and noncompetition
provisions included in therein or dependent thereon) are hereby deemed to be
amended in any relevant respect as may be required to reflect that the end of
your term of employment thereunder will now expire as of January 1, 1998.
Kindly confirm and acknowledge your agreement to the foregoing and your
willingness to continue in the Company's employ on the terms and conditions of
the Agreement as hereby amended by signing and returning to the Company the
attached copy of this Letter.
Sincerely,
/s/ XXXXX XXXXXXXXX
Xxxxx Xxxxxxxxx
Chairman and Chief
Executive Officer
Confirmed and Acknowledged:
/s/ XXXXXX X. XXXXXXXX 1/30/97
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Xxxxxx X. Xxxxxxxx
