Exhibit 10.3
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AMENDMENT TO
CONSULTANCY AGREEMENT
This Amendment to Consultancy Agreement is entered into as of the 13th day of
November, 2000, by and between Xxxxxxxx Corporation (the "Company"), an Iowa
corporation, and Xxxx X. Xxxx ("Xxxx").
WHEREAS, the parties entered into a Consultancy Agreement, Amendment to
Employment Agreement and Amendment to Restricted Stock Agreement dated November
11, 1996 (the "Consultancy Agreement"); and
WHEREAS, such consultancy will end on December 31, 2000 unless amended; and
WHEREAS, the Company and Xxxx desire to extend the term of Xxxx'x consultancy
with the Company, to provide for Xxxx'x services as consultant.
NOW, THEREFORE, IT IS HEREBY AGREED by and between the Company and Xxxx as
follows:
A. The first sentence of Section 6 of the Consultancy Agreement is hereby
stricken and replaced with the following sentence (with the remainder of
Section 6 continuing in effect):
6. ENGAGEMENT AS CONSULTANT. The Company hereby agrees to retain Xxxx as
a consultant through December 31, 2002 (or Xxxx'x retirement from the
Board of Directors, if earlier), but subject to termination by either
party at any time upon 90 days' advance written notice.
B. Section 9 of the Consultancy Agreement is hereby stricken.
All other terms of the Consultancy Agreement remain in effect.
IN WITNESS WHEREOF, pursuant to authorization of its Board of Directors, the
Company has caused this Agreement to be signed and Xxxx has set his hand as of
the 13th day of November, 2000.
XXXXXXXX CORPORATION XXXX X. XXXX
By: /s/ Xxxxxxx X. Xxxx /s/ Xxxx X. Xxxx
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Xxxxxxx X. Xxxx
Chairman and CEO
