Amendment to Employment Agreement between Crown Media Holdings, Inc. and Brian Stewart
This amendment updates the employment agreement between Crown Media Holdings, Inc. and Brian Stewart. It changes Mr. Stewart's title and responsibilities to Executive Vice President, Finance, and Chief Financial Officer. The amendment also sets his annual salary at $350,000 for the remainder of the contract term, with the possibility of adjustment at the company's discretion on November 8, 2007. All other terms of the original agreement remain unchanged.
Exhibit 10.5
November 8, 2006
Brian Stewart
4354 Mariota Ave.
Toluca Lake, CA 91602
Re: Amendment to Employment Agreement
Dear Mr. Stewart:
This will confirm our agreement to amend your employment agreement with Crown Media Holdings, Inc., dated July 24, 2006 (the “Agreement”), as follows:
1. Your title and job responsibilities, described in Paragraph 1(a) of the Agreement, are changed to that of Executive Vice President, Finance, and Chief Financial Officer of Crown Media Holdings, Inc.
2. Paragraph 3(a) of the Agreement is amended to provide for payment to you of an annual salary of $350,000 during the remainder of the Term, subject to adjustment, in the sole discretion of Crown Media Holdings, Inc. on November 8, 2007.
Except as amended herein, all other terms of the Agreement will remain in full force and effect.
|
|
| Very truly yours, | |
|
|
| Crown Media Holdings, Inc. | |
|
|
|
|
|
|
|
| By: | /s/ Charles L. Stanford |
|
|
|
|
|
|
|
| Executive Vice President, General Counsel | |
|
|
|
| Title |
| Accepted and Agreed to |
|
|
|
|
|
|
|
|
| /s/ Brian Stewart |
|
|
|
| Brian Stewart |
|
|
|
