Exhibit 10.14
Ninth Amendment to Employment Agreement
Reference is made to an Employment Agreement (hereinafter called
"Agreement") dated July 9, 1980, between Handy Hardware Wholesale, Inc., a Texas
corporation (therein and hereinafter called "Employer"), and Xxxxx X. Xxxxxx
(therein and hereinafter called "Employee"), the First Amendment to the
Agreement, dated August 18, 1980 (the "First Amendment"), the Second Amendment
to the Agreement, dated July 18, 1985 (the "Second Amendment"), the Third
Amendment to the Agreement, dated December 6, 1988 (the "Third Amendment"), the
Fourth Amendment to the Agreement, dated September 20, 1991 (the "Fourth
Amendment"), the Fifth Amendment to the Agreement, dated September 7, 1993 (the
"Fifth Amendment"), the Sixth Amendment to the Agreement, dated November 14,
1995 (the "Sixth Amendment"), the Seventh Amendment to Employment Agreement,
dated September 30, 1996 (the "Seventh Amendment") and the Eighth Amendment to
Employment Agreement, dated December 24, 1997 (the "Eighth Amendment").
At this time, Employer and Employee wish to amend the Agreement, the First
Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the
Fifth Amendment, Sixth Amendment, the Seventh Amendment and the Eighth Amendment
as herein set forth:
NOW THEREFORE, in consideration of the premises, the agreements herein
contained and other good and valuable considerations, Employer and Employee
hereby amend the Agreement, the First Amendment, the Second Amendment, the Third
Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the
Seventh Amendment and the Eighth Amendment as follows:
1. Paragraph 3.a. is hereby amended to read as follows:
"a. The term of employment by Employer shall mean the period
commencing August 18, 1980, and terminating December 31, 2000, unless
sooner terminated in accordance with the terms and conditions
hereinafter set forth, provided, however, in the event of the death of
Employee, the term of employment shall end the 60th day after the date
of the death of Employee."
Except as amended above, the Agreement, the First Amendment, the Second
Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the
Sixth Amendment, the Seventh Amendment and the Eighth Amendment remain unchanged
and continue in full force and effect.
This Ninth Amendment is executed in multiple counterparts, each of which
shall have the force and effect of an original, this 31st day of December, 1998.
HANDY HARDWARE WHOLESALE, INC.
/s/ Xxxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxx
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Xxxxx X. Xxxxxx Chairman of the Board
EMPLOYEE EMPLOYER
