FIRST AMENDMENT TO EMPLOYMENT AGREEMENTEmployment Agreement |
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PROTECTION ONE INC | Protection One Alarm Monitoring, Inc.. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Exhibit 10.59 FIRST AMENDMENT, dated as of February 8, 2005 (this " First Amendment ") to the Employment Agreement (the " Employment Agreement ") by and among J. Eric Griffin (" Executive "), Protection One, Inc., a Delaware corporation (the " Company "), and Protection One Alarm Monitoring, Inc., a Delaware corporation, dated as of July 23, 2004. This First Amendment to the Employment Agreement shall become effective upon the "Closing Date" (as defined in the Exchange Agreement); provided, that this First Amendment shall be null and void ab initio upon any termination of the Exchange Agreement in accordance with its terms. WHEREAS, Section 22 of the Employment Agreement provides that any modification of any provision of the Employment Agreement shall be valid only if made in writing and signed by Executive and a duly authorized officer of the Company; and WHEREAS, the parties hereto desire to amend certain provisions of the Employment Agreement as more fully set forth herein. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in consideration of the agreements herein, the parties hereto agree as follows: 1. Defined Terms. (a) Unless otherwise stated herein, all capitalized terms have the meanings ascribed to them in the Employment Agreement. (b) For purposes of this Agreement, "Exchange Agreement" means that certain Exchange Agreement, dated as of November 12, 2004, to which the Company is a party. 2. Amendments. (a) Section 4(c) of the Employment Agreement is hereby amended and restated in its entirety to read as follows: "(c) Benefit Programs. During the period of Executive's employment under this Agreement, Executive shall be eligible to participate in all employee benefit plans and p |
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