EXHIBIT 10.101
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
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This First Amendment (this "Amendment") to Employment Agreement, dated as of
August 13, 1999 (the "Agreement"), is made and entered as of this 25th day of
July, 2000, by and between Xxx X. Xxxxxxx III ("Grantee") and Netgateway, Inc.
(the "Company"). Capitalized terms used but not defined herein shall have the
meanings ascribed to such terms in the Agreement.
1. Section 1(c) of the Agreement shall be deleted and replaced with the
following:
The Executive shall be employed for the period commencing on the
date of this Agreement (the "Effective Date") and ending on July
25, 2002, unless sooner terminated pursuant to the provisions of
this Agreement (such period being referred to as the "Employment
Period"); PROVIDED, HOWEVER, that on the first anniversary of the
Effective Date (and on each succeeding anniversary of the
Effective Date during the Employment Period), the Employment
Period shall automatically be extended by an additional year
(unless the Company, the Employer or Executive shall give the
other at least 90 days' notice to the contrary).
2. The Executive's Base Salary shall be increased to $250,000 or such
other amount as the Company's Compensation Committee shall from time to time
determine.
3. Except as modified herein, the terms and conditions of the Agreement
shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the year and day above first written.
/s/ XXX X. XXXXXXX III
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Xxx X. Xxxxxxx III
NETGATEWAY, INC.
By: /s/ XXX XXXXXX
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Xxx Xxxxxx
Chief Financial Officer
