EXHIBIT 10.2
SECOND AMENDMENT
TO
EXECUTIVE EMPLOYMENT AGREEMENT
This Second Amendment to Executive Employment Agreement (this "Second
Amendment") is made to be effective as of May ___, 2005 by and between Xxxxxx X.
Xxxxx ("Executive") and X. X. Xxxxx Corporation (the "Company").
W I T N E S S E T H:
WHEREAS, Executive and the Company are parties to an Executive
Employment Agreement dated June 5, 2000, as amended by that certain First
Amendment to Executive Employment Agreement dated June 5, 2003 (the
"Agreement");
WHEREAS, the term of the Agreement expires on June 5, 2005;
WHEREAS, Executive and the Company desire to extend the term of the
Agreement by two years; and
WHEREAS, such extension of the term of the Agreement has been
recommended by the Compensation Committee and approved by the Board of Directors
of the Company;
NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration, the Company and Executive agree as follows:
1. Section 2 of the Agreement is hereby amended in its entirety to read
as follows:
Section 2. Term of Employment. The term of employment of
Executive by the Company under this Agreement shall commence
on June 5, 2000 (the "Agreement Date") and end on June 5, 2007
(the "Term of Employment").
2. Except as expressly amended hereby, the Agreement, as amended by
this Second Amendment, shall remain in full force and effect.
3. This Second Amendment may be executed in any number of counterparts,
and each of such counterparts, when so executed, shall be deemed to be an
original and all such counterparts shall together constitute but one and the
same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Second
Amendment, to be effective as of the day and year first above written.
X. X. XXXXX CORPORATION
By: /s/ Xxxxxx X. Xxx Xxxxxx
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Xxxxxx X. Xxx Xxxxxx,
President and Chief Executive Officer
/s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
