EXHIBIT 10.7
AMENDMENT TO
EXECUTIVE EMPLOYMENT AGREEMENT
This Amendment to Executive Employment Agreement is entered into as of this
14th day of April, 1999 by and between Xxxxxx, Inc. (the "Employer" or the
"Company"), a New Jersey corporation with offices located at 000 Xxxxx Xxxx,
Xxxxxxxxx, Xxx Xxxxxx 00000, and Xxxxxxx X. Xxxxxxxxx (the "Executive"), an
individual residing at 000 Xxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx 00000.
WHEREAS, the Employer and Executive have entered into an Executive
Employment Agreement dated as of November 21, 1995 (the "Employment Agreement");
WHEREAS, the Board of Directors of the Employer have approved an extension
of the term of the Employment Agreement to November 30, 2001;
NOW, THEREFORE, in consideration of the representations, covenants and
agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and intending to be
legally bound hereby, the parties hereto agree as follows:
1. Extension of Term. Section 1.1 of the Employment Agreement is hereby
amended to read in its entirety as follows:
1.1 Term. The term of this Agreement shall commence on November
21, 1995 and end on November 30, 2001 (the "Term").
IN WITNESS WHEREOF, the parties have executed this Agreement on the day and
year first written above.
WITNESS:
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Xxxxxxx X. Xxxxxxxxx
ATTEST: XXXXXX, INC.
By:
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Xxxx Xxxxx, Secretary Xxxxx X. Xxxxxxx,
Vice President