Exhibit 99.1
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement ("Amendment") is entered into,
to be effective as of April 1, 2004, by and between Warrantech International,
Inc., a Delaware corporation, with its principal place of business located at
0000 Xxxxxxx 000, Xxxxxxx, Xxxxx 00000 ("Employer"), and Xxxx Xxxxxxxxx, an
individual residing at 0000 Xxxxxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxx 00000
("Executive").
RECITALS
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WHEREAS, Employer and Executive entered into that certain Employment
Agreement ("Agreement"), effective as of April 1, 2000, pursuant to which
Executive agreed to serve as President of Employer subject to the terms and
conditions set forth therein;
WHEREAS, the Agreement terminates as of the close of business on March
31, 2004; and
WHEREAS, Employer and Executive desire to extend the term of the
Agreement for an additional three year period with no change in any of the
remaining terms and conditions set forth therein.
NOW, THEREFORE, in consideration of the forgoing and the terms and
conditions set forth herein, Employer and Executive hereby agree as follows:
1. Section II of the Agreement is hereby amended and restated in
its entirety as follows: "The term of Executive's employment under this
Agreement shall commence on April 1, 2004 and shall continue through March 31,
2007."
2. Except as specifically set forth in Paragraph 1 above, all
provisions of the Agreement shall remain in full force and effect throughout the
term of the Agreement, as amended.
IN WITNESS WHEREOF, the parties have duly executed this Amendment to be
effective as of April 1, 2004.
WARRANTECH INTERNATIONAL, INC. EXECUTIVE
By: /s/ XXXXXXX XXXXXX /s/ XXXX XXXXXXXXX
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Xxxxxxx Xxxxxx Xxxx Xxxxxxxxx
Title: EVP/CFO
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Date: 11/2/04
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