EXHIBIT 10(v)
GARAN, INCORPORATED
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
November 9, 1998
Xx. Xxxxxx Xxxxx
Xxxxx x, Xxx 000
Xxxxxxxxxx, Xxxxxxxxxxx 00000
Dear Xxxxxx:
We are writing to amend, as of October 1, 1998, the agreement between you
and Garan, Incorporated ("Garan") originally entered into on October 1, 1988,
and subsequently amended and restated as of October 1, 1992, and as of October
1, 1996 (the agreement, as amended and restated, "Employment Agreement"), with
respect to your continuing employment by Garan. We have agreed that:
A. Section 1.3, Period of Employment, shall be amended to read as
follows:
"Your employment under this Employment Agreement shall be for a
term ending September 30, 2000."
B. Section 3.2, Termination by Garan Other than for Cause, shall be
amended (i) by changing the date in the first paragraph from "October 1, 1998 to
"October 1, 2000 ", and (ii) by changing the date in Paragraph 3.2.b from
"September 30, 2000 " to September 30, 2002."
C. In all other respects, the Employment Agreement shall be
unchanged.
If the foregoing correctly sets forth our agreement, please sign and return
the enclosed copy of this letter.
Sincerely,
GARAN, INCORPORATED
By: /s/ Xxxxxxx Xxxxxxxxxxxx
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Xxxxxxx Xxxxxxxxxxxx, Chairman
AGREED AND ACCEPTED:
/s/ Xxxxxx Xxxxx
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Xxxxxx Xxxxx
