EMPLOYMENT AGREEMENT RENEWAL AND AMENDMENT
This Employment Agreement Renewal and Amendment (the "Amendment") is entered
into on this 1st day of January, 1997 by and between Steinway Musical
Instruments, Inc., a Delaware Corporation with an office and place of business
at 000 Xxxxx Xxxxxx, Xxxxxxx, XX (the "Company") and Xxxxxx X. Xxxxxx, (the
"Executive").
RECITALS
WHEREAS, the Executive entered into an Employment Agreement with Steinway
Musical Properties, Inc. ("SMP") dated May 1, 1995, (the "Agreement") and
WHEREAS, the Agreement was assigned from SMP to the Company in accordance with
paragraph 12 thereof, and
WHEREAS, the Company and Executive wish to renew the Agreement for an additional
Term and provide for future renewals,
NOW THEREFORE, in consideration of the mutual covenants contained herein, the
parties hereto agree as follows:
AMENDMENT
1. TERM OF EMPLOYMENT. The Term of employment as defined in the Agreement is
hereby extended to December 31, 1997.
2. FUTURE RENEWALS. The Term shall automatically renew on an annual basis
unless the Company provides the Executive with written notice of its intent not
to renew at least sixty (60) days prior to the expiration of the then current
Term.
3. OTHER MATTERS. Except as specifically amended herein all terms and
conditions of the Agreement remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment on the day and year
first written above.
Steinway Musical Instruments, Inc.
By: /s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx
President
Executive
/s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
