Exhibit 10.19
NINTH AMENDMENT
TO
EMPLOYMENT
AGREEMENT
This Ninth Amendment to Employment
Agreement is made and entered into effective as of
December 10, 2008, by and between WATSCO, INC., a
Florida corporation (hereinafter called the “Company”),
and ALBERT H. NAHMAD (hereinafter called the
“Employee”).
RECITALS
WHEREAS , the Company and the Employee entered into an
Employment Agreement effective as of January 31, 1996 (the
“Employment Agreement”) pursuant to which the Employee
renders certain services to the Company; and
WHEREAS, the Compensation Committee of the
Company’s Board of Directors amended the Employment Agreement
effective as of January 1, 2001, January 1,
2002, January 1, 2003, January 1,
2004, January 1, 2005, January 1,
2006, January 1, 2007 and January 1, 2008;
and
WHEREAS , the Company and the Employee now desire to
amend the Employment Agreement to make certain modifications
thereunder.
NOW , THEREFORE , in consideration of the
mutual promises and covenants set forth in this Ninth Amendment,
and other good and valuable consideration, the parties to this
Ninth Amendment agree as follows:
1. All capitalized terms in this
Ninth Amendment shall have the same meaning as in the Employment
Agreement, unless otherwise specified.
2. Section 6 of the Employment
Agreement is hereby amended to read as follows:
“6. EXPENSE
REIMBURSEMENT.
Upon submission of proper proof of
payment by Employee, the Company will reimburse him for all
reasonable expenditures for
