Exhibit 10.1
AMENDMENT NO. 1 TO EMPLOYMENT
AGREEMENT
This is Amendment No. 1, dated as of
September 28, 2005 (this “ Amendmen t”) to the
EMPLOYMENT AGREEMENT, dated as of May 3, 2005 (the “
Agreement ”), between Marvel Entertainment, Inc.
(formerly known as Marvel Enterprises, Inc.), a Delaware
corporation (the “ Company ”) and David Maisel
(the “ Executive ”).
WHEREAS, the Company and the
Executive have agreed to amend the Agreement in the manner, and on
the terms and conditions, provided for herein;
NOW, THEREFORE, in consideration of
the premises and for other good and valuable consideration, the
receipt, adequacy and sufficiency of which are hereby acknowledged,
the parties to this Amendment hereby agree as follows:
1.
Amendment to Section 1.1 of the Agreement . The
Executive’s titles as described in Section 1.1 of the
Agreement shall be changed immediately to Vice Chairman of Marvel
Studios and Executive Vice President – Corporate Development
of the Company. The Executive shall report to the Chief Executive
Officer of the Company.
2.
Amendment to Section 1.3 of the Agreement . Section 1.3 of
the Agreement is hereby amended and restated in its entirety to
read as follows:
“The duties to be performed by
the Executive hereunder shall be performed primarily at the offices
of the Company in Los Angeles, subject to customary travel
requirements on behalf of the Company, and with the understanding
that half or less of the Executive’s time performing the
duties may be spent at the Company’s headquarters in New York
City.”
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3.
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Amendment to Schedule I of the
Agreement .
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(a) Section
2(a) of Schedule I of the Agreement is hereby amended by adding the
following at the end thereof:
“In the event that, between
January 12, 2006 and December 11, 2006, Executive has ended his
employment other than pursuant to Section 4.4(a), and provided
that the Executive has continued to comply with the
provi
