EXHIBIT 10.20
THINK NEW IDEAS, INC.
00 XXXX 00XX XXXXXX, 00XX XXXXX
XXX XXXX, XXX XXXX 00000
May 24, 0000
XXX XXXXXXX XXXXXXX
Xx. Xxxxx Xxxxxxx
000 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: Employment Agreement of June 30, 1996 (the "Employment Agreement")
Dear Xxxxx:
This is to confirm to you that, pursuant to Section 2 of that certain
Employment Agreement, dated June 30, 1996, between you and THINK New Ideas, Inc.
(the "Company"), the Company has agreed to extend your employment with the
Company for a period of one year (the "Extension Period") commencing upon
expiration of the current term of your employment at the close of business on
June 30, 1999 at an increased annual salary of $350,000 (representing the
aggregate of $29,167 in Monthly Compensation, as defined in Section 4(a) of the
Employment Agreement). The Company has further agreed that you shall continue to
be a member of executive management, with such title and any other form of
compensation as may be determined by management. The Employment Agreement will
remain in effect for the Extension Period unmodified except as specifically set
forth herein.
Please know that your service and contribution to the Company is sincerely
appreciated.
Very truly yours,
/s/ Xxxxxxx Xxxxx
Xxxxxxx Xxxxx on behalf
of the Compensation Committee
cc: Xx. Xxxxxx Xxxxx
Xx. Xxxxxx Xxxxxxx
Xxxxx Xxxxxx, Esq.
Xxxxxxxx X. Xxxxxx, Esq.
