EXHIBIT 10.47
June 1, 2000
Xx. Xxxxxx Xxxxxxx
c/o Sport Chalet
000 Xxxxxxxx Xxxx.
Xx Xxxxxx, Xxxxxxxxxx 00000
Dear Xxxxxx:
This letter will serve as an amendment to your current employment contract dated
October 1, 1999.
The Agreement is hereby amended as follows:
Paragraph 3 Compensation: As compensation for the services to be performed
hereunder, Executive shall receive a salary in the amount of One Hundred
Seventy-Nine Thousand Dollars ($179,000) per annum. Payable in bi-weekly
equal installments retroactive to the beginning of our fiscal year on
April 10, 2000.
Exhibit "B" This schedule has been revised to include the amount of 20,000
N.Q.S.O.'s dated May 26, 2000 at a value of 4 3/4 with a vesting schedule
of five years and an expiration date of May 26, 2010 (copy attached).
Please retain this letter in your files with your employment contract.
Congratulations on your additional compensation and stock options.
Sincerely,
/s/ Xxxxx Xxxxx
Xxxxx Xxxxx
President/CEO
cc: Xx. Xxxxxx Xxxxxx, Chairman of the Board
Xx. Xxxx Xxxxxxx, Chairman of the Compensation Committee
Xx. Xxxxx Xxxxxx, Sheppard, Mullin, Xxxxxxx & Xxxxxxx LLP
Exhibit "B"
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Terms Of NQSOs
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Date Issued Number of Shares Exercise Price Vesting Schedule Expiration Date
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03/01/1996 72,000 2.375 5 03/01/2006
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02/04/1998 45,000 4.750 5 02/04/2008
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04/15/1999 20,000 4.438 3 04/15/2009
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05/26/2000 20,000 4.750 5 05/26/2010
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Terms of Grants/Awards
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Date Issued Number of Shares Price on Grant Date Restriction Period
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05/22/1998 25,000 5.000 2
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