EXHIBIT 10.5
THIS AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the "Amendment"), dated as of
October 15, 1999, between xxxxxx.xxx, Inc., a Delaware corporation (formerly
known as Jutvision Corporation) (the "Company"), and Xxxxxx X. Xxxxxx,
("Employee"), amends the Employment Agreement, dated as of January 1, 1999,
between xxxxxx.xxx and Employee (the "Agreement").
IN CONSIDERATION of the mutual promises and covenants contained
herein, and other good and valuable consideration, the receipt and adequacy of
which is hereby acknowledged, the parties agree as follows:
1. Base Salary; Bonus Compensation. Effective October 1, 1999: (i)
-------------------------------
the Base Salary set forth in Section 4.1 of the Agreement is increased to an
annual rate of $240,000 and (ii) notwithstanding Section 4.2 of the Agreement,
Employee shall receive no Bonus Compensation for the fourth quarter of 1999 or
for any quarter of 2000.
2. Miscellaneous. Except as expressly amended hereby, the Agreement
-------------
is, and shall remain, in full force and effect and each and every term and
condition thereof is hereby confirmed, continued and ratified. All terms defined
in the Agreement, except as otherwise defined herein, shall have the same
meanings where used herein. This Amendment may not be altered, amended or
modified in any way except by a writing signed by both parties. This Amendment
may be executed by exchange of signature pages by facsimile and/or in any number
of counterparts, each of which shall be an original as against the party whose
signature appears thereon and all of which together shall constitute one and the
same instrument.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
day and year first above written.
XXXXXX.XXX, INC. XXXXXX X. XXXXXX
By: /s/ Xxxxxxx X. XxXxxxx /s/ Xxxxxx X. Xxxxxx
-------------------------- --------------------------------
Name: Xxxxxxx X. XxXxxxx
------------------------
Title: Chairman and CEO
-----------------------
