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EXHIBIT 10.2(C)(I)
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
AGREEMENT, dated as of May 14, 1999, between Xxxxxx X. Xxxxxxx (the "Executive")
and The Xxxx Nuveen Company, a Delaware corporation ("JNC").
WHEREAS, the Executive and JNC entered into an Employment Agreement as of July
14, 1997; (the "1997 Agreement") and
WHEREAS, the Executive and JNC now desire to enter into this amendment (the
"Amended Agreement") to the 1997 Agreement to effect certain changes in the
Executive's responsibilities and compensation from those set forth in the 1997
Agreement;
NOW THEREFORE, in consideration of the foregoing recitals, the mutual promises
and agreements hereinafter set forth, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and
notwithstanding anything to the contrary in the 1997 Agreement, JNC and the
Executive agree as follows:
1. Office and Responsibilities. The Executive shall no longer hold the title
nor assume the responsibilities of Chief Investment Officer of Xxxxxxxxxxx
Financial Services ("RFS"), but shall become a part time employee of RFS
whose duties and responsibilities are to act as an adviser to the RFS
Investment Committee and to RFS's President, on an as requested basis.
Executive shall not be required to perform any services for RFS outside of
the greater Philadelphia area.
2. Compensation of Executive. As full compensation for his services hereunder,
RFS will pay the Executive an annual salary equal to one hundred thousand
dollars ($100,000) for the remaining term of the 1997 Agreement.
3. Benefits; Other Compensation. As a part time employee, the Executive shall
be entitled to such health, life and disability insurance benefits and such
profit sharing, pension, paid vacation, sick and personal time and other
fringe benefits, if any, as are available to, and on similar terms and
conditions as apply to, other part time employees of RFS. Executive shall
continue to be eligible to participate in the Nuveen Scholarship Program.
4. Effective Date. The compensation payable to Executive under the Amended
Agreement shall be effective as of April 1, 1999.
5. No Other Changes to the 1997 Agreement. Except as modified as set forth
above, the provisions of the 1997 Agreement shall remain in full force and
effect.
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IN WITNESS WHEREOF, the parties hereto, being duly authorized, have duly
executed and delivered this Agreement.
THE XXXX NUVEEN COMPANY
By: __________________________
Name: Xxxx X. Xxxxxxx
Title: President
Date: _________________________
XXXXXX X. XXXXXXX
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Date: _________________________
