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EXHIBIT 10(III)(A)(1)
FIRST AMENDMENT TO THE EMPLOYMENT AGREEMENT BETWEEN ALEXANDER'S, INC.
AND ▇▇▇▇▇ ▇. ▇▇▇▇▇
Amendment agreement, dated as of this the 11th day of December 1996
("Amendment Date") by and between Alexander's, Inc. and any successor in
interest thereto (the "Company") and ▇▇▇▇▇ ▇. ▇▇▇▇▇ (the "Executive").
WITNESSETH:
Whereas, the Company and the Executive are parties to an Employment
Agreement, dated March 29, 1995 (the "Current Agreement"); and
Whereas, the Company and the Executive now desire to amend the Current
Agreement in accordance with the terms and provisions hereinafter set forth;
Now, therefore, in consideration of these covenants and agreement set forth
herein and in the Current Agreement, and for other good and valuable
consideration, the parties hereto hereby agree as follows:
Effective January 1, 1997.
1. Salary: Your base salary will be at the rate of $120,000 per annum
and shall be paid to you in accordance with the Company's normal payroll
practice.
2. Duties: You shall be required to perform your duties for 104 days
per year, reduced from 156 days per year.
3. Benefits: You will not be entitled to any paid vacation during this
extension period.
4. No other changes: Except for the changes and amendments provided
above, the Current Agreement shall remain in full force and effect.
5. Governing Law: This Amendment Agreement shall be governed by and
construed in accordance with, the laws of the State of New York.
Alexander's, Inc.
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
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Title: Vice President, Chief Financial
Officer
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/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇
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