Second Amendment to Employment Agreement between Crown Media Holdings, Inc. and Laura Masse
This amendment extends Laura Masse's employment with Crown Media Holdings, Inc. for two more years, until August 8, 2010, unless ended earlier as per the original agreement. Starting February 25, 2009, her base salary will be $445,000 per year, with a guaranteed minimum increase of 3% on February 25, 2010, subject to performance review. All other terms of the original employment agreement remain unchanged.
Exhibit 10.4
May 9, 2008
Ms. Laura Masse
48 Warwick Road
Bronxville, New York 10708
Re: Employment Agreement Amendment
Dear Ms. Masse:
This will confirm our agreement to further amend your employment agreement with Crown Media Holdings, Inc. (“Crown”) dated August 8, 2006, as amended on February 6, 2007 (the “Agreement”), as follows:
1. The term of the Agreement and your employment by Crown as set out in Paragraph 2 of the Agreement, is extended for two additional years, until August 8, 2010, unless otherwise terminated in accordance with the terms of the Agreement.
2. Effective February 25, 2009, your base salary as set forth in Paragraph 3(a) shall be Four Hundred Forty Five Thousand Dollars ($445,000.00) per year. On February 25, 2010, Employer shall consider additional salary increases at its discretion based on your performance, provided, however, that the minimum increase shall be no less than 3%.
Except as amended herein, all other terms of the Agreement will remain in full force and effect.
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| Very truly yours, | |
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| Crown Media Holdings, Inc. | |
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| By: | /s/HENRY SCHLEIFF |
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| Henry Schleiff, President & |
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| Chief Executive Officer |
Agreed and Accepted:
| /s/ LAURA MASSE |
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| Laura Masse |
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