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Exhibit 10.10b
June 15, 2000
Mr. Xxxxx Xxxxx
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
Dear Xxxxx:
This amended and restated letter agreement, which amends and
restates that certain letter agreement dated as of April 1, 2000 (and executed
by you on April 7, 2000) by and between the parties hereto, together with the
executed Agreement and Release, dated as of April 7, 2000, attached hereto as
Exhibit A (as amended herein, the "Agreement and Release"), sets forth our
understanding with respect to the termination of your employment with
Infogrames, Inc., formerly known as GT Interactive Software Corp., (the
"Company"). Each of the undersigned acknowledge that it is the present intention
of the parties hereto that you will remain employed by the Company until
September 30, 2000. During such time, your status as an employee will be as set
forth in the Employment Agreement, dated as of April 28, 1998 (the "Employment
Agreement"), between you and the Company for purposes of all compensation, stock
option and employee benefit plans of the Company, and the Company will continue
to honor the compensation and benefits obligations under Section 3 of the
Employment Agreement. Provided that you deliver written notice to the office of
the President of the Company in New York City on or before September 30, 2000 of
your decision to be bound, effective September 30, 2000, by the Agreement and
Release and not by the Employment Agreement, you and the Company shall be bound
by the terms and provisions of the Agreement and Release from and after such
date; provided, however, that if either you or the Company choose to terminate
your employment for any reason prior to September 30, 2000, then the Agreement
and Release shall be amended such that (1) the Termination Date (as such term is
defined therein) shall be deemed to be the actual termination date of your
employment and (2) the starting and ending dates of all periods set forth in the
Agreement and Release shall be adjusted to reflect the revised Termination Date
(in accordance with the spirit and intent of Section 5(d)(iii) of the Employment
Agreement). In all other respects, the terms of the Agreement and Release shall
remain unchanged.
This letter agreement may be amended only by a writing which makes
express reference to this letter agreement as the subject of such amendment and
which is signed by you and, on behalf of the Company, by its duly authorized
officer. Notwithstanding the foregoing, in the event that your employment is
terminated prior to September 30, 2000, the parties hereto hereby agree to
execute the amendment to the Agreement and Release described in the preceding
paragraph. Notwithstanding anything
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to the contrary contained herein or therein, the Agreement and Release is hereby
amended such that (1) the Termination Date set forth in Paragraph 1 therein
shall be September 30, 2000, (2) the Severance Period set forth in Paragraph
3(b) shall commence on the Termination Date and end on September 30, 2002, and
(3) the first payment in lieu of bonus set forth in Paragraph 3(d) shall be paid
on October 1, 2000 (the day immediately following the Termination Date) and all
other dates and amounts set forth in such Paragraph 3(d) shall remain unchanged.
This letter agreement may be executed in one or more counterparts,
each of which shall be deemed an original, and all of which taken together shall
constitute one and the same instrument.
If this reflects your understanding of our agreement, please sign
below and return a copy of this letter agreement to the undersigned.
INFOGRAMES, INC.
By /s/ Denis Guyennot
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Name: Denis Guyennot
Title: President and COO
/s/ Xxxxx X. Xxxxxx 6/15/00
Agreed to and Accepted by:
/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
As of this 15th day of June, 2000
