AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
Amendment No. 1 dated October 17, 2005 to Employment Agreement dated
September 1, 2003 (the "Agreement") by and between BENIHANA INC. and XXXX X.
XXXXXX.
Unless otherwise defined herein, capitalized terms shall have the
respective meanings assigned to them in the Agreement.
The parties agree that the Agreement shall be amended as follows:
The first paragraph of the Recitals of the Agreement is amended by
modifying such paragraph to read in its entirety as follows:
"The Employee is, and has been for some years, employed by the
Company as its Vice President/Comptroller; and the Company is desirous of
continuing the employment of Employee in the capacity of Senior Vice President -
Chief Operating Administrative Officer, and Employee is desirous of continuing
to be employed by the Company in such capacity on the terms and conditions
hereinafter set forth."
Section 1 of the Agreement is amended by modifying such section to read
in its entirety as follows:
"1. ENGAGEMENT AND TERM. The Company hereby continues
to employ Employee and Employee hereby accepts such continued
employment by the Company on the terms and conditions set forth
herein, for a period commencing on the date hereof (the
"Effective Date"), and ending, unless sooner terminated in
accordance with the provisions of Section 4 hereof, on March 31,
2009 (the "Employment Period")."
Section 2 of the Agreement is amended by modifying the first sentence of
such section to read in its entirety as follows:
"2. SCOPE OF DUTIES. Effective June 20, 2005,
Employee shall be employed by the Company as its Senior Vice
President - Chief Operating Administrative Officer."
Section 3 of the Agreement is amended by modifying such section to read
in its entirety as follows:
"3.1 BASIC COMPENSATION. In respect of services
to be performed by the Employee during the Employment Period,
effective June 20, 2005, the Company agrees to pay the Employee
an annual salary of One Hundred Forty Thousand Dollars
($140,000) ("Basic Compensation"), payable in accordance with
the Company's customary payroll practices for executive
employees."
Section 7 of the Agreement is amended by modifying the second sentence
of such section to read in its entirety as follows:
"The Employee shall receive an allowance of $300 per month for
automobile expenses, including the lease costs or purchase price, gasoline, oil
and garaging."
Except as modified herein, the Agreement remains in full force and
effect in accordance with its terms without revocation or change.
IN WITNESS WHEREOF, the undersigned have executed this Amendment No.1 as
of the date and year first above written.
BENIHANA INC.
By: /s/ Xxxx Xxxxxxxx
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Xxxx Xxxxxxxx, President
/s/ Xxxx X. Xxxxxx
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XXXX X. XXXXXX
