1
EXHIBIT 10.2
March 27, 1997
Xx. Xxxxxxxxx Xxxx
Rexall Sundown, Inc.
000 Xxxxxx Xxxxx Xxxxxxx, XX
Xxxx Xxxxx, Xxxxxxx 00000
Dear Xxxxx:
Reference is hereby made to the Employment Agreement ("Agreement") dated April
24, 1995 between Rexall Sundown, Inc. (the "Company") and Xxxxxxxxx Xxxx (the
"Employee"). Effective as of April 1, 1997, the Company and the Employee have
agreed to make the following amendments to the Agreement:
1. Article III, Section 3.1 of the Agreement is hereby amended by
deleting Article III, Section 3.1 in its entirety and inserting the following
provision in lieu thereof:
"III. COMPENSATION
3.1 Salary. In payment for the obligations to be performed by the
Employee during the Term, the Company shall pay to the Employee
(subject to any applicable payroll and/or taxes required to be
withheld) annual compensation ("Annual Compensation") equal to (i) a
salary of Three Hundred Forty-Five Thousand Dollars ($345,000) in cash
for the year commencing April 1, 1997 and (ii) for each succeeding year
during the Term, a salary equal to that of the previous year increaseed
by the greater of (a) 5% or (b) the increase in the cost of living
based upon the Revised Consumer Price Index (1982-84=100) published by
the Bureau of Labor for Boca Raton, Florida utilizing April 1997 as the
base month."
If the foregoing is in accordance with our understanding, please execute the
enclosed copy of this letter and return to the undersigned.
Very truly yours,
REXALL SUNDOWN, INC.
By: /s/ Xxxx XxXxxxxx
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Xxxx XxXxxxxx, Chairman of the Board
AGREED TO AND ACCEPTED
this 27th day of March 1997.
/s/ Xxxxxxxxx Xxxx
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Xxxxxxxxx Xxxx
