Exhibit 10.16
April 25, 2005
Xxxxxx X. Xxxxxxxx
Re: Executive Employment Agreement - Second Extension
Dear Xxxxxx:
The purpose of this letter is to set out in writing the agreement reached
between you and the Company with regard to your employment. Pursuant to a letter
agreement dated July 29, 2004, your Executive Employment Agreement dated
February 1, 2002 was extended beyond the Renewal term (as defined in the
Agreement) to continue until June 30, 2005 (collectively referred to as the
"Agreement"). You and the Company have agreed to again extend your Agreement for
another 12 months, to end on June 30, 2006.
All rights and obligations set out in the Agreement, as clarified below, will
apply throughout this extended period and your role will continue as head of
Investor Relations and Government Relations. For purposes of clarification only,
any right to renew the Agreement was satisfied during the first Renewal Term (as
defined in the Agreement) that ended on June 30, 2004 and there is no right to
renew the Agreement unless agreed upon by both parties in writing, as evidenced
by a document similar to the one herein being signed. Accordingly, Section
5(e)(iv) of the Agreement has been fully satisfied and is no longer in effect.
Please indicate that the description above accurately represents the
understanding reached between you and the Company by signing the letter in the
space below and return one fully signed letter to me. Please keep one fully
signed letter for your files.
Very truly yours,
AMERITRADE HOLDING CORPORATION
By: /S/ XXXX XXXXXXXXX
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Xxxx Xxxxxxxxx
Chief Administrative Officer
The undersigned agrees that this letter accurately sets out the agreement
reached between the undersigned and Ameritrade.
/S/ XXXXXX X. XXXXXXXX 5/13/05
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Xxxxxx X. Xxxxxxxx
