Exhibit 99
December 22, 1999
Mr. Xxxx Xxxxxxx
Greenstone Xxxxxxx Advertising, Inc.
000 Xxxxxxxxxxx Xxxx
Xxxxxxxx, XX 00000
RE: EMPLOYMENT AGREEMENT
Dear Xxxx:
I am writing you to clarify our proposal to you with regard to your
employment with Greenstone Xxxxxxx.
As you know, it is the Board's intention not to renew your contract,
but rather to offer you continued employment on "at will" basis. Consequently,
your employment contract dated January 1, 1998 is terminated effective December
31, 1999. This means, at any time, you or the company may terminate the
employment by giving the other thirty (30) days written notice in advance of
such termination. During the term of your employment you will be compensated at
the annual rate of $225,000.00 payable in the manner consistent with the
company's past practices. Also, during the period, you will be entitled to such
other fringe benefits as you presently enjoy.
After thirty (30) days written notice of termination by either party
the corporation shall within five (5) days after the expiration of said thirty
(30) days pay to the Executive in one lump sum a special severance and
termination payment of $225,000.00.
Please acknowledge the receipt of this communication and your
agreement to this by signing in the space provided below.
Upon your doing so, this letter will constitute an employment
agreement between you and Greenstone Xxxxxxx Advertising, Inc.
I need and look forward to your continued support.
Cordially,
GREENSTONE XXXXXXX
ADVERTISING, INC.
By: /s/ Xxxxxx Xxxxxxxxxx
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Name: XXXXXX XXXXXXXXXX
Title: Chairman of the Board
/s/ Xxxx X. Xxxxxxx
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XXXX X. XXXXXXX
