Bally Total Fitness Holding Corporation Amendment to Employment Agreement
Exhibit
10.1
Amendment to Employment Agreement
THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”), dated as of September 14, 2006, is
by and between Bally Total Fitness Holding Corporation, a Delaware Corporation with its
headquarters at 0000 Xxxx Xxxx Xxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000-0000 (hereinafter called
“Bally”), and Xxxx Xxxxxxxxx (hereinafter called the “Executive”).
WHEREAS, Bally and Executive have entered into that certain Employment Agreement dated as of
January 1, 2005, which was amended on December 1, 2005 (the “Agreement”); and
WHEREAS, Bally and Executive desire to further amend the Agreement on the terms and conditions
described herein;
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements of
the parties herein contained, the parties hereto agree as follows:
| 1. | Capitalized terms not defined herein shall have the meanings ascribed to them in the Agreement. |
| 2. | Subparagraph (c) of Section 4 of the Agreement is amended and restated to read in its entirety as follows: | |
| Long-Term Incentive. The Executive shall be eligible to participate in any plan under which senior executives of the Company are eligible to receive equity compensation or other long-term incentive grants (each, a “LTIP”) as may be determined by the Board or duly authorized Committee of the Board. |
| 3. | Except as amended hereby, the Agreement shall remain in full force and effect, and as amended the same is hereby affirmed and ratified. |
IN WITNESS WHEREOF, the parties hereto have executed this Amendment effective as of the date first
written above.
Executive:
|
/s/ Xxxx X. Xxxxxxxxx | |
| Xxxx X. Xxxxxxxxx | ||
Date:
|
September 14, 2006 | |
Attest:
|
/s/ Xxxxxxx Xxxxxxx | |
Date:
|
September 14, 2006 | |
Company: |
||
By:
|
/s/ Xxxx X. Xxxxxx, Xx. | |
| Xxxx X. Xxxxxx, Xx., Chairperson, Compensation Committee | ||
Date:
|
September 14, 2006 | |
Attest:
|
/s/ Xxxxxxx Xxxxxxx | |
Date:
|
September 14, 2006 | |
By:
|
/s/ Xxxxxx Xxxxxx | |
| Xxxxxx Xxxxxx, SVP, Chief Administrative Officer | ||
Date:
|
September 14, 2006 | |
Attest:
|
/s/ Xxxxxxx Xxxxxxx | |
Date:
|
September 14, 2006 |
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