Exhibit 99(l)
AMENDMENT TO
NONSOLICITATION AGREEMENT
This Amendment dated as of the 15th day of June, 1999, by and between
JWGENESIS FINANCIAL CORP. ("Company"), and XXXX X. XXXXX ("Employee");
W I T N E S S E T H:
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WHEREAS, Employee entered into a Nonsolicitation Agreement ("Agreement")
with the Company, effective June 12, 1998, pursuant to which the Employee
agreed, among other things, to avoid soliciting Company clients and Company
personnel for a period of seven years; and
WHEREAS, the Company desires additional protection to ensure the Employee
will comply with the terms of the Agreement; and
WHEREAS, in exchange for other valuable consideration, the receipt of which
is hereby acknowledged, Employee has agreed to this amendment of the Agreement;
NOW, THEREFORE, in consideration of the premises and the mutual covenants
and agreements contained herein and in the Plan, the parties hereby agree as
follows:
1.
Section 10 of the Agreement is hereby amended by deleting the existing
section in its entirety and substituting the following therefor:
"10. Relief. If Employee breaches any term of this Agreement, Employee
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will pay to Company the sum of three hundred fifty thousand dollars
($350,000.00) as liquidated damages. In addition to and in no way limited
by the liquidated damages provision in the prior sentence, the parties
acknowledge that a breach or threatened breach of any term of this
Agreement by Employee would result in material and irreparable damage and
injury to Company, and that it would be difficult or impossible to
establish the full monetary value of such damage. Therefore, Company shall
also be entitled to injunctive relief by a court of appropriate
jurisdiction in the event of Employee's breach or threatened breach of this
Agreement."
2.
Except as hereby modified, the terms and conditions of the Plan shall
remain in full force and effect. This Amendment shall be effective as of
January 1, 1999.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the day
and year first above written.
EMPLOYEE
/s/ Xxxx X. Xxxxx
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XXXX X. XXXXX
JWGENESIS FINANCIAL CORP.
By: /s/ Xxxxx X. Xxxxxx
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