EXHIBIT 10.5a
AMENDMENT TO THE EMPLOYMENT AGREEMENT FOR XXXXX XXXXXX
WHEREAS, both Xxxxxx Xxxxxx Communications, Inc., a New York corporation with a
business address of 0000 Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000 (the
"Corporation") and Xxxxx Xxxxxx, an individual residing at 0 Xxxxxxxx Xxxx, Xx.
Xxxxx, Xxxxxxxx 00000 (the "Executive") wish to amend the Employment Agreement
for Xxxxx Xxxxxx entered into by the Corporation and Executive as of January 1,
2000 (the "Employment Agreement").
NOW, THEREFORE, in consideration of the promises and the mutual covenants
contained in that Employment Agreement and herein contained, the parties agree
to the following:
Section 1 of the Employment Agreement is amended as follows: "The initial term
of employment of the Executive by the Company pursuant to this Agreement (the
"Initial Term") shall commence on the Effective Date and, unless earlier
terminated, shall end on the third annual anniversary of the Effective Date;
provided that the term of this Agreement shall automatically be extended for two
additional years as of the day immediately following the end of the Initial Term
and as of the day immediately following the end of each subsequent two-year
extended term hereof unless the Company shall have terminated the automatic
extension provisions of this sentence by giving written notice to the Executive
at least 30 days prior to the then applicable termination date."
Section 3 of the Employment Agreement is amended as follows: During the period
of June 1, 2001 to May 31, 2002, the Company shall pay to the Executive an
annual base salary of $252,000 per annum in accordance with the Company's
regular payroll practices. After that time period, the Company shall pay to the
Executive an annual base salary at the rate of $360,000 in accordance with the
Company's regular payroll practices.
Except as expressly modified by this Amendment all terms of the Employment
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment to
The Employment Agreement for Xxxxx Xxxxxx as of June 1, 2001.
XXXXXX XXXXXX COMMUNICATIONS, INCORPORATED
By: /s/ Xxxx Xxxxxx
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Name: Xxxx Xxxxxx
Title: Chief Financial Officer
EXECUTIVE
By: /s/ Xxxxx Xxxxxx
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Name: Xxxxx Xxxxxx
