Exhibit 10.1--Letter Agreement between XxXxxxxxx and Xxxxxxx X. XxXxxxxxx, Xx.
February 2, 1999
Xx. Xxxxxxx X. XxXxxxxxx, Xx.
0000 X.X. Xxxxx Xxxxxx Xxx
Xxxxxx, Xxxxxxx 00000
Dear Buzz:
This letter will amend the letter agreement between you and the Company
dated January 2, 1997 (the "Letter Agreement").
Effective December 1998, your monthly stipend will increase from Seven
Thousand Eight-Three Dollars and Thirty-Three Cents ($7,083.33) to Seven
Thousand Two Hundred Seventy-Eight Dollars and Eight-Three Cents ($7,278.83).
Said monthly payments will be made for the months of December 1998, January
1999, February 1999 and March 1999. In addition, based on Company
performance in 1999, you will receive a payment of $20,000 multiplied by the
same performance factor used for corporate executives in the Management
Incentive Bonus Plan.
In all respects not inconsistent herewith, the provisions of the Letter
Agreement remain in full force and effect until March 31, 1999.
If the foregoing correctly expresses our understanding, please sign a
copy of this letter in the space provided below and return it to me.
Very truly yours,
XxXXXXXXX & COMPANY, INCORPORATED
By: /s/ Xxxxx X. Xxxxxxxxxxxx
--------------------------
Xxxxx X. Xxxxxxxxxxxx
Vice President - Human Relations
AGREED AND ACCEPTED THIS
5th day of February, 1999.
By: /s/ Xxxxxxx X. XxXxxxxxx, Xx.
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Xxxxxxx X. XxXxxxxxx, Xx.
