AMENDMENT TO EMPLOYMENT AGREEMENT
This shall serve as an amendment to the Employment Agreement dated as
of January 1, 1999 by and between Method Products Corporation, a Florida
corporation ("MPC" and/or the "Company") and Xxxx Xxxxxxxxx ("Xxxxxxxxx").
R E C I T A L S:
- - - - - - - -
WHEREAS, on or about January 1, 1999, MPC and Xxxxxxxxx entered into an
Employment Agreement (the "Agreement") whereby MPC agreed to employ Xxxxxxxxx
and Xxxxxxxxx agreed to be employed by MPC pursuant to the terms and conditions
set forth therein; and
WHEREAS, the parties hereto wish to amend the Agreement pursuant to the
terms and conditions hereof, which terms and conditions shall supercede in all
respects the terms and conditions set forth in the Agreement pertaining to the
express matters set forth herein (this amendment to the Agreement shall
hereinafter be referred to as the "Amended Agreement");
NOW, THEREFORE, in consideration of the parties hereto agreeing to
enter into this Amended Agreement, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged by
the parties hereto, the parties hereby agree as follows:
1. All references to Xxxxxxxxx being employed as "Executive Vice
President" of any Company subsidiaries shall be deleted and replaced with "Chief
Executive Officer."
2. Article II - Term shall be deleted in its entirety and replaced
with the following:
Subject to the provisions of Article VI below, the term of this
Agreement shall be for a period of five years, commencing as of January 1, 1999
and expiring on December 31, 2003. Unless either party shall give to the other
written notice of termination on or before December 31, 2003, the term of this
Agreement shall, on January 1, 2004 be extended for a period of three years,
commencing as of January 1, 2004 and expiring on December 31, 2006.
3. Paragraph 5.3 Automobile shall be deleted in its entirety and
replaced with the following:
5.3 Automobile The Company shall provide the Executive an
automobile, with a payment no greater than $750 per
month, for use by the Executive in connection with
the performance of his duties under this Agreement or
a reimbursement of the same amount. The Executive
shall be entitled to receive reimbursement for such
automobile expenses as are incurred by the Executive
in connection with the performance of his duties
under this Agreement. Such reimbursement shall
include the cost of operating the automobile, the
cost of maintenance of such automobile and the cost
of insurance of such automobile.
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4. All references in paragraph 6.5(b) and 6.6 (a) to December 31, 2001
shall be deleted and replaced with December 31, 2003.
IN WITNESS WHEREOF, the parties have executed and delivered this
Agreement on December 28, 2001.
METHOD PRODUCTS CORP.
By: /s/ Xxxxxxx Xxxxx
-------------------------
Xxxxxxx Xxxxx, President
STATE OF FLORIDA )
) ss:
COUNTY OF BROWARD )
The foregoing instrument was acknowledged before me on this 28 day of
December 2001 by Xxxxxxx Xxxxx, as President of Method Products Corp. on behalf
of such corporation who is personally known to me or has produced
___________________________ as identification and did/did not take an oath.
Notary Public:
sign /s/ Xxxxx Xxxxx
--------------------------
print Xxxxx Xxxxx
-------------------------
State of Florida at Large (Seal)
My Commission Expires:
/s/ Xxxx Xxxxxxxxx
--------------------------------
Xxxx Xxxxxxxxx
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STATE OF FLORIDA )
) ss:
COUNTY OF BROWARD )
The foregoing instrument was acknowledged before me on this 28 day of
December 2001 by Xxxx Xxxxxxxxx who is personally known to me or has produced
_______________________ as identification and did/did not take an oath.
Notary Public:
sign /s/ Xxxxx Xxxxx
--------------------------
print Xxxxx Xxxxx
-------------------------
State of Florida at Large (Seal)
My Commission Expires:
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