AMENDMENT 3
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT dated as of April 4, 1996 to EMPLOYMENT AGREEMENT dated
as of August 1, 1994 between DANSKIN, INC ("Employer") and XXXXXXX XXXXXX
("Employee) (the "Employment Agreement):
NOW, THEREFORE, in consideration of the premises of such Employment
Agreement and the covenants contained therein, and other good and valuable
consideration, the Employer and Employee hereby agree to amend the Employment
Agreement in the following respects:
Paragraph 1.02 of the Employment Agreement is hereby amended in its entirety so
as to read as follows:
"1.02 Position. The Employee is employed to be and serve as
Executive Vice President and Chief Financial Officer reporting to the Chief
Executive Officer.
Paragraph 2.01 of the Employment Agreement is hereby amended as follows:
Replace Vice President and Chief Financial Officer with Executive
Vice President and Chief Financial Officer.
Paragraph 4.04(c) of the Employment Agreement is hereby amended in its entirety
so as to read as follows:
(c) For purposes of this Agreement, a "resignation following a
change of control" occurs when, within twenty-four (24) months following a
change of control as defined herein, the Employee determines in good faith that
her business objectives and philosophy are incompatible with those of the
Employer and such incompatibility is likely to interfere with the performance of
the Employee's duties hereunder, and, within that twenty-four (24) month period,
the aEmployee, by written notice to the Employer, resigns her employment with
the Employer.
IN WITNESS WHEREOF, the parties have executed this Amendment _____ as of
the date first written above.
For the Employer:
DANSKIN, INC. Attest:
By:_______________________________ __________________________
Xxxx Xxx Xxxxxxxxx Xxxx Xxxxxxxxx
Chief Executive Officer Assistant Secretary
For the Employee
__________________________________
Xxxxxxx Xxxxxx
