FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT

Contract Categories: Human Resources - Employment Agreements
EX-10.15 4 dex1015.htm FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT DATED AS OF JANUARY 15, 2004 Fifth Amendment to Employment Agreement dated as of January 15, 2004

Exhibit 10.15

 

FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT

 

This Fifth Amendment to Employment Agreement (the “Amendment”), dated as of the 15th day of January, 2004 by and between COMFORCE Corporation (“COMFORCE”) a Delaware corporation, and COMFORCE Operating, Inc. (“COI”), a Delaware corporation that is wholly-owned by COMFORCE (COMFORCE and COI are collectively referred to as the “Employer”), and Harry V. Maccarrone, a resident of the State of New York (“Employee”).

 

WHEREAS, the parties entered into an Employment Agreement dated as of January 1, 1999, which Employment Agreement was previously amended as of January 23, 2001, September 27, 2001, July 1, 2002 and August 1, 2003, pursuant to which Employer formalized the terms upon which Employee is to be employed by Employer through December 31, 2005 (as amended, the “Employment Agreement”); and

 

WHEREAS, the parties desire to further amend the Employment Agreement as herein provided.

 

NOW, THEREFORE, in consideration of the promises and mutual obligations of the parties contained herein, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. Section 2 of the Employment Agreement is hereby amended by changing the “Initial Termination Date” to December 31, 2006.

 

2. The second sentence of Section 4(a)(ii) of the Employment Agreement is hereby amended by adding the following additional proviso at the end thereof: “; and, provided further, that, notwithstanding the foregoing, no such increase shall be made to Employee’s Base Salary for the 2004 calendar year until April 1, 2004, at which time Employee’s Base Salary shall be increased by 8.0%.”

 

3. The last sentence of Section 4(b) of the Employment Agreement is hereby deleted and the following sentence is added: “The amount, if any, by which $15,000 exceeds the total amount of such reimbursements for documented expenses in any calendar year (commencing in 2004) shall be paid to Employee as a non-accountable expense allowance.”

 

4. All other provisions of the Employment Agreement shall remain in full force and effect.

 

IN WITNESS WHEREOF, the undersigned have executed this Agreement on the day and year first above mentioned.

 

COMFORCE CORPORATION

 

By:                                                                                                  

Its:

 

COMFORCE OPERATING, INC.

 

By:                                                                                                  

Its:

 

EMPLOYEE

                                                                                                         

Harry V. Maccarrone