SERENGETI EYEWEAR
November 9, 1999
Xx. Xxxxxxx X. XxXxxxx
0000 Xxxxxxxx Xxxx Xxxxx
#0000
Xxxxxxxx, Xxxxxxx 00000
Dear Xx. XxXxxxx:
This letter is to serve as the first amendment to your contract dated June 1,
1998 with Serengeti Eyewear, Inc. The terms and conditions are as follows:
Term of Employment
1.3 Term. Serengeti hereby employs you, and you hereby accept employment
with Serengeti for a period to commence on June 22, 1998 and to
terminate on December 31, 2000 unless sooner terminated in accordance
with the provisions of Section 7.
Compensation
3.1 Annual Salary. You will be compensated at the rate of $150,000 per
annum, on an annualized basis with an effective date of July 1, 1999
through December 31, 1999. You will be compensated at the rate of
$170,000 per annum, on an annualized basis with the effective date of
January 1, 2000 through December 31, 2000.
All other terms and conditions remain the same.
If the foregoing accurately reflects your understanding of our agreement and is
acceptable to you, please sign the enclosed copy of this letter and return it to
the undersigned.
Very Truly Yours,
Serengeti Eyewear, Inc.
By: /s/ Xxxxxxx Xxxxxx
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Xxxxxxx Xxxxxx, President
Accepted and Agreed:
By: /s/ Xxxxxxx X. XxXxxxx
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Xxxxxxx X. XxXxxxx
