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Exhibit 10.15
AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment") made as of June
16, 1997, by and between Russian Wireless Telephone Company, Inc. (f/k/a Telcom
Group USA, Inc.), a corporation organized and existing under the laws of the
state of Delaware (the "Corporation"), and Xxxxxx X. Xxxxxx (the "Executive").
WHEREAS, the Executive is employed by the Corporation pursuant to that
certain employment agreement between the parties dated as of January 1, 1995
(the "Employment Agreement"); and
WHEREAS, the parties desire to extend the term of the Employment Agreement
through December 31, 1999,
NOW, THEREFORE, in consideration of the foregoing, and the mutual terms
and conditions hereinbelow set forth, it is agreed as follows:
1. Extension of Employment Agreement. Article I of the Employment
Agreement is hereby deemed to have been deleted, and replaced in its entirety by
the following new Article I:
Article I: Employment. A. The Corporation hereby employes the
Executive as an executive of the Corporation (as his duties are more
particularly described in Paragraph B of this Article I) for a period
commencing on January 1, 1995 and terminating on December 31, 1999, unless
Executive's employment is terminated earlier pursuant to Article III of
this Agreement (the 'Employment Period').
B. The Executive shall serve as the Chief Executive Officer of the
Corporation and any such other position or positions within the
Corporation as the Corporation and Executive shall mutually agree upon.
C. The Executive accepts such employment, and agrees to devote
substantially all of his time (approximately 40 hours per week) in the
performance of such services as may from time to time be assigned to him
by, or pursuant to the authorization of, the Board of Directors of the
Corporation (the "Board") or by the Chairman of the Board of the
Corporation consistent with his position as Chief Executive Officer,
provided, however, that Executive shall not be required to render full
time services in the performance of his duties hereunder. The Executive
agrees that during the Employment Period he will not, directly or
indirectly, engage or participate in, or become employed by, or render
advisory or other services to, any business entity which competes directly
with the Company's current business (namely the provision of competitive
access services and the resale of
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long distance services), except in the performance of his duties for the
Corporation."
2. Continuation of Employment Agreement in Full Force and Effect. The
Employment Agreement, as modified by the provisions of this Amendment thereto,
shall continue, from and after the date hereof, in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.
RUSSIAN WIRELESS
TELEPHONE COMPANY, INC.
By: ____________________________________________
Xxxx X. Xxxxxxxx, Chairman
________________________________________________
Xxxxxx X. Xxxxxx
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