EXHIBIT 10.2
AMENDMENT TO EMPLOYMENT AGREEMENT
This agreement amends the Agreement dated May 28, 1992 (the "Employment
Agreement") between Xxxxxx International, Inc. (the "Company") and Xxxxx Xxxxxxx
(the "Employee")
The Company and the Employee agree as follows:
1. Subsection (a) of Section 5 of the Employment Agreement is amended so
as hereafter to provide in its entirety as follows:
(a) The Employment Term shall continue indefinitely until terminated
(i) by the Company by a notice of termination at least one year prior to
the proposed termination date PROVIDED THAT IN NO EVENT MAY THE PROPOSED
TERMINATION DATE BE EARLIER THAN MAY 15, 1999, (ii) by the Employee by a
notice of termination at least 120 days prior to the proposed termination
date, or (iii) as otherwise provided for termination by the Company or the
Employee in this Section 5. If either the Company or the Employee elects
at any time to terminate the Employment Term as provided above, the
Company shall pay to the Employee as a severance benefit (the "Severance
Benefit") an amount equal to the Salary then in effect, on the same
schedule as the Salary in then paid, for the one-year period following the
date when he ceases employment by the Company."
2. The Employment Agreement, amended as set forth above, is hereby
affirmed by the Company and the Employee.
Executed and effective as of 15th day of May, 1996.
XXXXXX INTERNATIONAL, INC.
By: ________________________________
Name: Xxxxxxx X. Xxxxxxx
Title: Chairman of the Board
____________________________________
Xxxxx Xxxxxxx
