Exhibit 10.1.2
LETTER AGREEMENT
AMENDING EMPLOYMENT AGREEMENT
April 1, 2000
Dear Xx. Xxxxxxx:
Reference is hereby made to your employment agreement, dated August 26, 1999
(the "Employment Agreement"), with American Home Mortgage Holdings, Inc. (the
"Company"). This letter hereby amends and restates Section 6(a) of the
Employment Agreement to read in its entirety as follows:
"(a) During the period from the commencement of the term of this Agreement
until December 31, 1999, the Company shall pay the Executive, and the
Executive agrees to accept, a base salary at the rate of not less than
$130,000 per year. Commencing January 1, 2000 and for the remainder of the
term of this Agreement, the Company shall pay to the Executive, and the
Executive agrees to accept, a base salary of not less than $350,000 per
year, with increases in such rate in accordance with the Company's regular
administrative practices of salary increases applicable to senior officers
from time to time during the term of this Agreement (being hereinafter
referred to as the "Base Salary"). The Base Salary shall be paid in
installments no less frequently than monthly. Any increase in Base Salary
or other compensation shall not limit or reduce any other obligation of the
Company hereunder, and once established at an increased specified rate, the
Executive's Base Salary hereunder shall not thereafter be reduced."
Other than the amendment expressly set forth herein, the terms of the Employment
Agreement shall remain in full force and effect.
Kindly acknowledge your acceptance of the term of this letter agreement by
signing below and returning the signed original to the Company. Please keep a
copy of this letter agreement for your files.
Sincerely,
/s/ Xxxxxxx Xxxxxxx
_______________________________________
Xxxxxxx Xxxxxxx
President and Chief Executive Officer
Acknowledged and Accepted:
/s/ Xxxxxxx Xxxxxxx
__________________________
Xxxxxxx Xxxxxxx
