SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
This Second Amendment To Employment Agreement (this "Agreement") is
made and entered into on this the ___ day of August, 1999 by and between ISG
Resources, Inc. ("Employer"), a Utah corporation with its principal place of
business located at 000 Xxxx Xxxxx Xxxxxx, Xxxxx 0000, Xxxx Xxxx Xxxx, Xxxx
00000 and Xxxxxxx X. Xxxx, Xx. ("Employee"), an individual who resides at 00000
Xxxxxxxx Xxxxxx, Xxxxxxxxx 000, Xxxxxxx, Xxxxx 00000.
WHEREAS, Employer and Employee entered into an Employment Agreement in
October, 1997 (the "Employment Agreement") and an Amendment To Employment
Agreement on October 14, 1998 (the "First Amendment");
WHEREAS Employer and Employee desire to amend the Employment Agreement
again as set forth herein.
NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as set forth
herein.
1. The parties agree that the Employment Agreement is hereby amended as follows:
a. Section 7 of the Employment Agreement is amended by adding the
following section:
"g. If the Employee dies, his phantom stock right, to the
extent vested and subject to the other provisions of the Employment
Agreement (as amended by the First Amendment) and any other applicable
laws, shall pass to his wife, Xxxxx X. Xxxx.
2. The remaining provisions of the Employment Agreement, as amended by the First
Amendment, shall remain in full force and effect. Reference is craved to the
Employment Agreement and the First Amendment for specific terms and conditions
thereof which are incorporated herein by reference, except as amended by this
Agreement.
IN WITNESS WHEREOF, intending to be legally bound hereby the parties
hereto have duly executed this Agreement as of the day and year above written.
ISG RESOURCES, INC. XXXXXXX X. XXXX, XX.
___________________ _____________________
By:________________
Its________________
