Exhibit 10.3
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT is entered into effective
as of September 10, 2002, by and among CellStar Ltd. (the "Employer"), CellStar
Corporation, a Delaware corporation and parent company of Employer (the
"Parent"), and Xxxxxx Xxxx Xxxxxxxxx (the "Employee").
Recitals
A. Employer, Parent and Employee have entered into that certain
Employment Agreement, effective as of January 21, 2000 (the "Employment
Agreement").
B. The parties hereto desire to amend the Employment Agreement as
hereinafter set forth.
Agreement
NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants and promises herein contained, and for other good and valuable
consideration, the receipt of which is hereby acknowledged, it is hereby agreed
as follows:
1. Section 1.5(e)(i)(5) of the Employment Agreement is hereby deleted
in its entirety.
2. Section 1.5(e)(i)(6) is hereby renumbered to read "Section
1.5(e)(i)(5)."
3. Except as specifically amended by the terms hereof, all other
provisions of the Employment Agreement shall remain in full force and effect,
and the Employment Agreement, as amended hereby, is specifically hereby ratified
and reaffirmed.
* * * * *
Executed as of the date first written above.
CellStar Ltd.
By: National Auto Center, Inc.
Title: General Partner
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
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Title: Chief Executive Officer
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CellStar Corporation
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
-------------------------------
Title: Chief Executive Officer
------------------------
/s/ Xxxxxx Xxxx Xxxxxxxxx
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Xxxxxx Xxxx Xxxxxxxxx
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