EXHIBIT 10.16
AMENDMENT TO
EMPLOYMENT AGREEMENT
WHEREAS, Xxxxx, Inc. (formerly TKG Acquisition Corp.) (the "Company") and
Xxxxxx X. Xxxxx (the "Employee") have entered into an Employment Agreement,
dated as of February 29, 1996 (the "Employment Agreement"); and
WHEREAS, the Company and the Employee have agreed to amend the Employment
Agreement.
NOW, THEREFORE, effective as of the date written below, the Employment
Agreement is amended as follows:
1. Section 3.01(c) shall be replaced by the following:
"Executive shall participate during the Term in such other
bonus plans or programs that are established during the Term for
senior management by the Board, with a target annual bonus opportunity
for each year during the Term of 100% of Executive's Base Salary,
which shall be calculated on the basis of achievement of goals set by
the Board, which goals may include, without limitation, specific
individual goals and/or corporate performance parameters such as
revenue, profit, balance sheet and cash management objectives. The
Board shall establish the goals applicable to Executive in
consultation with the Executive in advance of any fiscal year or other
applicable period."
IN WITNESS WHEREOF, the parties have executed this Amendment on the 30th day of
April, 1997.
Xxxxx, INC.
By: /s/ Xxxxx X. XxXxxx
--------------------------
Name: Xxxxx X. XxXxxx
Title: Vice President, Controller
and Treasurer
/s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
