Exhibit 10.3
FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FIFTH AMENDMENT (this "Amendment") is made as of this 4th day of
April, 2005 to that certain EMPLOYMENT AGREEMENT, dated as of December 21, 1999
(as heretofore amended, the "Employment Agreement"), by and between X. XXXX
BLACK ("Employee") and XXX. A. BANK CLOTHIERS, INC. ("Employer").
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and adequacy of which are
hereby acknowledged, Employer and Employee, being the sole parties to the
Employment Agreement, hereby amend the Employment Agreement as follows:
1. Subject to earlier termination otherwise set forth in the
Employment Agreement, the last day of the Employment Period shall be
January 31, 2007.
2. Effective February 27, 2005, Employee's Base Salary shall be
$375,000.00.
Except as specifically amended hereby, the Employment Agreement shall
remain in full force and effect according to its terms. To the extent of any
conflict between the terms of this Amendment and the terms of the remainder of
the Employment Agreement, the terms of this Amendment shall control and prevail.
Capitalized terms used but not defined herein shall have those respective
meanings attributed to them in the Employment Agreement. This Amendment shall
hereafter be deemed a part of the Employment Agreement for all purposes. The
terms of employment set forth in this Amendment have been approved by the Audit
Committee of the Board of Directors of the Employer.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.
XXX. A. BANK CLOTHIERS, INC.
By: /s/ Xxxxxx X. Xxxxxxxx /s/ X. Xxxx Black
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Xxxxxx X. Xxxxxxxx, X. XXXX BLACK
Chief Executive Officer
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