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EXHIBIT 10.22
WYLE ELECTRONICS
FIRST AMENDMENT TO
AGREEMENT
This First Amendment to Agreement (the "Agreement") is made of this
1st day of May, 1997, by and between Xxxxxxx X. Xxxxxx ("Xxxxxx") and Wyle
Electronics, a California corporation (the "Company") with reference to the
following facts.
A. On January 1, 1995, Employee and Company entered into an
Agreement (the "Agreement");
B. The parties desire to amend the Agreement to reflect an
extension to the 1999 Annual Meeting of Shareholders or June 30, 1999 as more
fully set forth below; and
C. The parties desire to amend the Agreement to reflect an annual
compensation increase to $350,000.
IT IS THEREFORE AGREED AS FOLLOWS:
1. Section 3 is hereby amended and restated in its entirety:
"3. Term. Subject to the provisions for earlier
termination provided herein, the term of this Agreement shall continue through
the 1999 Annual Meeting of Shareholders, currently scheduled for May 12, 1999,
and will then terminate, or on June 30, 1999, whichever date shall first occur
(the "Termination Date").
2. Section 4.1(b) is hereby amended and restated in its entirety:
"4.1(b). Effective May 1, 1997 through the Termination
Date, Xxxxxx will receive for services as Chairman of the Board an annual fee
of $350,000, payable monthly, such fee to be inclusive of any and all director
and committee fees."
3. Except as specifically set forth herein, the Agreement is not
being amended or modified and is in full force and effect.
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IN WITNESS WHEREOF, this Amendment to Agreement has been
executed the day and year first written above.
WYLE ELECTRONICS
By: /s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
Its: Senior Vice President - Administration,
General Counsel and Secretary
/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
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