ADDENDUM TO
EMPLOYMENT AGREEMENT
BETWEEN
XXXXXX X. XXXXXXXX
AND
SUCCESSORIES, INC.
WHEREAS, Xxxxxx X. Xxxxxxxx (the "Employee") and Successories, Inc. (the
"Company") previously entered into an Employment Agreement dated March 1, 1996,
and an Amendment to the Employment Agreement dated January 14, 1997
(collectively the "Employment Agreement").
WHEREAS, the Employee and the Company have agreed to an addendum to the
Employment Agreement as set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants set forth below, the
parties hereby agree as follows:
Effective October 18, 1999, the Company elected and the Employee
accepted the office of Founder and Chairman Emeritus, at which time the
Company modified the Employee's duties and responsibilities consistent
with the change in the Employee's title. The Employee hereby expressly
consents to his employment as Founder and Chairman Emeritus and agrees
that such employment and corresponding change in duties and
responsibilities did not and shall not constitute "good reason" to
support termination of the Employment Agreement under Paragraph 10.8
thereof. The Employee and the Company further agree that the Employee's
employment as Founder and Chairman Emeritus did not and shall not
constitute a breach of any provision of the Employment Agreement.
IN WITNESS WHEREOF, the parties have executed this Addendum to the Employment
Agreements as of this 16th day of February, 2000.
SUCCESSORIES, INC. XXXXXX X. XXXXXXXX
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By: Xxxx X. Xxxxxxxx
Its: Chief Executive Officer and President
