AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement ("Amendment") is made and entered into
as of April 28, 1997, by and between Price Enterprises, Inc., a Delaware
Corporation ("Employer") and Xxxxxx X. Xxxx ("Executive").
RECITALS
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A. On September 20, 1994 an Employment Agreement was made and entered into
and between Executive and Employer.
B. On April 11, 1996, Section 2.3 of the Employment Agreement was modified,
such that Executive is entitled to three weeks paid vacation each year.
C. On July 23, 1996, Section 2.1 of the Employment Agreement was modified,
such that Executive's annual base salary was increased to $175,000.
D. Employer and Executive now desire to further amend the Employment
Agreement, as set forth hereinbelow:
AGREEMENT
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1. Section 3.1 of the Employment Agreement, which currently provides:
The term of Executive's employment hereunder shall commence on October
17, 1994 and shall continue until October 16, 1997 unless sooner
terminated or extended as hereinafter provided (the "Employment Term").
is hereby amended to provide as follows:
The term of Executive's employment hereunder shall commence on October
17, 1994 and shall continue until October 16, 1998, unless sooner
terminated or extended as hereinafter as provided (the "Employer Term").
2. All other terms of the Employment Agreement shall remain unaltered and
fully effective.
Date: April 28, 1997
EXECUTIVE EMPLOYER
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PRICE ENTERPRISES, INC.
Xxxxxx X. Xxxx
By: /s/ XXXXXX X. XXXXX
/s/ XXXXXX X. XXXX -------------------
----------------------- Name: Xxxxxx X. Xxxxx
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Title: President
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