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AMENDMENT NO.1 TO RESIGNATION AGREEMENT
THIS AMENDMENT is made and entered into as of October 11, 1996, by and between
Ride, Inc., a Washington corporation ("Ride"), and Xxxxxxx X. Xxxxxxxxxxx, an
individual ("Xxxxxxxxxxx").
RECITALS
A. Ride and Xxxxxxxxxxx are parties to a Resignation Agreement, dated
August 2, 1996 (the "Agreement"). Ride and Xxxxxxxxxxx wish to reaffirm the
Agreement subject to the amendment of certain terms of the Agreement as set
forth in this Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the agreements set forth herein, the parties
agree as follows:
1. The date of "December 31, 1996" set forth in the first sentence of
Paragraph 1 of the Agreement is deleted and replaced with the date of "October
11,1996." Paragraph 2(b) of the Agreement is deleted in its entirety.
2. The second sentence of Paragraph 6 of the Agreement is deleted and
replaced with the following text:
Notwithstanding anything to the contrary in this Agreement and the
Employment Agreement, Xxxxxxxxxxx shall be permitted to engage in the Brokered
OEM Business and the Close-Out Business as the respective terms are defined in,
and to the extent specified in, that certain Stock Purchase Agreement of even
date, by and between Ride and Gen-X Equipment, Inc., a Washington corporation.
IN WITNESS WHEREOF, the parties execute this Amendment as of the date
first above written.
RIDE, INC.
By: /s/ Xxxxxx X. Xxxx By: /s/ Xxxxxxx X. Xxxxxxxxxxx.
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Xxxxxx X. Xxxx, CEO and President Xxxxxxx X. Xxxxxxxxxxx
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