Exhibit 10.7
[Letterhead of IDG BOOKS WORLDWIDE]
ADDENDUM TO
COMPENSATION AGREEMENT (DATED 7/1/98)
FOR: Xxxx Xxxx
EFFECTIVE 3/1/00
6.5 Constructive Termination. Notwithstanding anything in Section 3 or in this
Section 6 to the contrary, for purposes of this Agreement the Employment
Period will be deemed to have been terminated and Executive will be deemed
to have Good Reason for voluntary termination of the Employment Period
("Good Reason"), if there should occur in lieu of the provisions of
Section 6.3:
(A) A material adverse change in Executive's position causing it to be
of materially less stature or responsibility without Executive's
written consent, and such a materially adverse change shall in all
events be deemed to occur if Executive no longer serves as Executive
Vice President reporting to President and Chief Operating Officer of
IDG Books;
(B) A material reduction, without Executive's written consent, in his
level of base compensation (including base salary and fringe
benefits) by more than ten percent (10%);
(C) A Change in Control (as defined below) of IDG Books (other than
International Data Group assuming control of IDG Books);
(D) A relocation of Executive's principal place of employment (other
than a relocation of IDG Book's headquarters with the concurrence of
Management) outside the New York area without Executive's consent
other than at the recommendation of management.
EMPLOYEE SIGNATURE FROM IDG BOOKS:
/s/ Xxxx X. Xxxx /s/ Xxxx X. Xxxxxxxxx
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3/21/2000 3-31-00
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DATE DATE
