Amendment No. 2 to Employment Agreement between American Media Operations, Inc. and Michael Kahane (February 23, 2006)

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between American Media Operations, Inc. and Michael Kahane. It revises the employee benefits section, specifying that Mr. Kahane will receive health, disability, and retirement benefits similar to other employees, a $400 monthly auto allowance, and the transfer of a company vehicle for $10. The company will also cover any extra taxes from the vehicle transfer. Mr. Kahane is granted 30 paid time off days per year, with unused days carried over, and is allowed business class travel for flights over three hours. All other terms remain unchanged.

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EX-10.19 10 dex1019.htm AMENDMENT NO. 2, DATED AS OF FEBRUARY 23, 2006 Amendment No. 2, dated as of February 23, 2006

Exhibit 10.19

AMENDMENT NO. 2, dated as of February 23, 2006, to that Employment Agreement dated August 1, 2003 (the “Agreement”) by and between Michael Kahane (the “Executive”) and AMERICAN MEDIA OPERATIONS, INC. (the “Company”).

Effective as of the date first written above, the Agreement is hereby amended as follows:

1. Paragraph 6 of the Employment Agreement is hereby deleted and the following substituted therefore:

Employee Benefits. During the Contract Term, Executive shall be provided, in accordance with the terms of the Company’s employee benefit plans as in effect from time to time, health insurance and short term and long term disability insurance, retirement benefits and fringe benefits (collectively “Employee Benefits”) on the same basis as those benefits are generally made available to other similarly situated employees of the Company. Executive shall be paid a monthly auto allowance in the amount of $400.00 (Four Hundred Dollars and Zero Cents) beginning March 1, 2006. The Company agrees to immediately transfer title of the Company vehicle that Executive is currently assigned at a sales price of $10.00 (Ten Dollars and Zero Cents) to Executive. Company further agrees to “gross-up” Executive’s 2006 wages to compensate Executive for any and all additional income taxes that may be due as a result of the transfer of the vehicle to Executive. Executive will receive 30 “PTO” days per plan year (April 1st to March 31st). Unused “PTO” days may be carried over from year to year. Executive will be permitted to fly business class on any flight over three hour long and shall book said flight(s) through Company’s travel agent (if business class is not available on a certain route, first class travel will be permitted).

All other terms and conditions of Executive’s Employment Agreement and any subsequent amendments of that Employment Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment No. 2 as of the date first written above.

 

AMERICAN MEDIA OPERATIONS, INC.  
By:   /s/ David Pecker   2/28/06
    Date
  /s/ Michael Kahane   2/28/05
  Michael Kahane   Date