EXHIBIT - 10.1
AMENDMENT NO. TWO TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
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This Amendment No. Two to Amended and Restated Employment Agreement
("Amendment"), by and between Xxxxxxx Xxxxxxxxx ("Executive"), and Mossimo,
Inc., a Delaware Corporation (the "Company"), is effective as of February 18,
2003 (the "Effective Date"), and amends that certain Amended and Restated
Employment Agreement dated as of February 1, 2001, by and between Executive and
the Company, as amended by that certain Amendment No. One to Amended and
Restated Employment Agreement dated as of July 30, 2002 (collectively, the
"Agreement").
WHEREAS, the Company and Executive entered into the Agreement, and now desire to
amend the Agreement as set forth herein;
WHEREAS, the parties desire to amend the Agreement only as expressly provided
herein. All other provisions of the Agreement shall remain unchanged and in full
force and effect; and
WHEREAS, the Compensation Committee of the Board of Directors of the Company
(the "Committee") has approved this Amendment in its entirety.
NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth,
it is agreed that the Agreement is hereby amended as follows:
A. AMENDMENT. The Agreement is hereby amended as follows:
SECTION 2 OF THE AGREEMENT ENTITLED "TERM OF AGREEMENT" SHALL
BE DELETED IN ITS ENTIRETY, AND SHALL BE REPLACED WITH THE FOLLOWING:
"TERM OF AGREEMENT. The term ("Term") of this Agreement
shall be for four consecutive twelve month periods
commencing on the Effective Date and ending on January 31,
2006 (each such twelve month period hereinafter referred
to as the "Contract Year"). The term may be extended by
mutual agreement of the parties for successive one year
periods on such terms as may be agreed."
B. CONSISTENT CHANGES. The Agreement is hereby amended wherever necessary to
reflect the changes described above.
D. CONTINUING VALIDITY. Except as expressly amended pursuant to this Amendment,
the terms of the Agreement and all other related documents shall remain
unchanged in and in full force and effect.
E. MISCELLANEOUS.
1. AMENDMENT. This Amendment may be amended only as approved by written
instrument signed on behalf of each party.
2. GOVERNING LAW. This Amendment and the legal relations thus created
between the parties hereto shall be governed by and construed under and in
accordance with the internal law of the State of California.
3. HEADINGS. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.
4. SEVERABILITY. In the event that a court of competent jurisdiction
determines that any portion of this Amendment is in violation of any statute or
public policy, only the portions of this Amendment that violates such statute or
public policy shall be stricken. All portions of this Amendment that do not
violate any statute or public policy shall continue in full force and effect.
Further, any court order striking any portion of this Amendment shall modify the
stricken terms as narrowly as possible to give as much effect as possible to the
intentions of the parties under this Amendment.
5. COUNTERPARTS. This Amendment may be executed in several
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.
IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its
duly authorized officer, and the Executive has hereunto signed this Amendment,
as of March 18, 2003.
Company:
MOSSIMO, INC.
By: /s/ XXX XXXXXXXXXXXXXX
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Its: Chief Operating Officer
Executive:
/s/ XXXXXXX XXXXXXXXX
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Xxxxxxx Xxxxxxxxx
