EXHIBIT 10.72
EMPLOYMENT AGREEMENT EXTENSION
This Employment Agreement Extension (the "Extension") is entered into as of
June 16, 2000 by and among Xxxxxx Xxxxxxx (the "Executive") and xxxxxx.xxx, Inc.
(the "Company").
RECITALS:
A. Executive and the Company's predecessor are party to an Employment
Agreement dated as of August 1, 1997 (the "Employment Agreement") which
agreement is binding on the Company.
B. The parties desire to provide that the term of the Employment Agreement
be extended by one year, which extension has been duly approved by the
Compensation Committee of the Board of Directors of the Company in accordance
with the authority properly delegated to it by the Board of Directors.
AGREEMENT:
NOW, THEREFORE, in consideration of the mutual agreements set forth herein
and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the parties hereto agree as follows:
1. Extension. The "Term" of the Employment Agreement is hereby extended
by one year and therefore will now expire on July 31, 2001 unless further
extended. For purposes of this Extension, the parties waive any non-compliance
with the extension procedure set forth in the last two sentences of Section 1.1
of the Employment Agreement.
2. Automobile. The allowance provided for in Section 2.5 of the
Employment Agreement is extended and will survive for the "Term" of the
Employment Agreement.
3. Duties. Notwithstanding any provision of Section 1.2 of the Employment
Agreement to the contrary, Executive's position will be as an executive officer
of the Company and he will be based in Austin, Texas.
4. Employment Agreement in Full Force and Effect. Except as expressly
extended and modified herein, the Employment Agreement shall remain in full
force and effect.
(Signature Page Follows)
IN WITNESS WHEREOF, the parties have duly executed and delivered this
Employment Agreement Extension effective as of the first date set forth above.
This agreement may be executed in counterpart.
/s/ Xxxxxx Xxxxxxx
-----------------------------------
Xxxxxx Xxxxxxx
xxxxxx.xxx, Inc.
By: /s/ Xxxxx X. Xxxxxxx - Xxxx
-------------------------------
Name: Xxxxx X. Xxxxxxx - Xxxx
Title: CFO
2
