March 6, 2001
Xx. Xxxxxxx X. Xxxxxx
Chairman, President and Chief Executive Officer
AmBase Corporation
00 Xxxxxx Xxxxxx
Xxxx. 0
Xxxxxxxxx, XX 00000-5155
Dear Xx. Xxxxxx:
As approved by the Personnel Committee of the Board of Directors of AmBase
Corporation (the "Company") at its meeting held on January 2, 2001, the Company
hereby agrees to amend your employment agreement dated June 1, 1991, as amended
dated March 30, 1993 and February 24, 1997 (collectively, the "Agreement") to
increase your annual base salary from $500,000 to $625,000, effectively
January 1, 2001.
It is expressly understood that all other provisions of the Agreement will
continue in full force and effect in accordance with its original terms and
practices to date.
AmBase Corporation
By: /s/ Xxxx X. Xxxxxxx
---------------------
Xxxx X. Xxxxxxx
Vice President,
Chief Financial
Officer, and Controller
Accepted and agreed to
this 6th day of March, 2001
/s/ Xxxxxxx X. Xxxxxx
---------------------------
Xxxxxxx X. Xxxxxx
