JANUARY 11, 2005 AMENDMENT
TO THE EMPLOYMENT AGREEMENT
BETWEEN
NEW FRONTIER MEDIA, INC.
AND
XXXXXXX XXXXXX
This amendment dated January 11, 2005 ("January 11, 2005 Amendment") amends the
Employment Agreement dated February 17, 2003, and all amendments thereto
(collectively the "Employment Agreement"), between New Frontier Media, Inc.
("NFM") and Xxxxxxx Xxxxxx ("Executive"). Unless otherwise defined in this
January 11, 2005 Amendment, all defined terms used herein shall have the meaning
as set forth in the Employment Agreement. The parties hereby agree to amend the
Employment Agreement as follows:
Section 1. Employment Period
The end of the Employment Period shall be extended to midnight on March 31,
2007.
Section 2. Terms of Employment, Subsection (B)(i) Base Salary
For the period from April 1, 2005 to March 31, 2006, the Base Salary, which
shall be paid in equal installments on a bi-weekly basis, shall be at the annual
rate of not less than Four Hundred and Twenty Five Thousand Dollars ($425,000)
per year. Thereafter, the Base Salary, which shall be paid in equal installments
on a bi-weekly basis, shall be at the annual rate of not less than Five Hundred
Thousand Dollars ($500,000) per year.
To the extent that this January 11, 2005 Amendment contains additional terms or
terms that conflict with the Employment Agreement, the terms of this January 11,
2005 Amendment shall control. Other than the changes above, the terms and
condition of the Employment Agreement remain unchanged and in full force and
effect.
New Frontier Media, Inc. Executive
By: /s/ Xxxxx Xxxxxx By: /s/ Xxxxxxx Xxxxxx
--------------------- -----------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxxxx Xxxxxx
Title: CFO
