Amendment to Employment Agreement between Crown Media Holdings, Inc. and William J. Abbott (June 27, 2012)
Crown Media Holdings, Inc. and William J. Abbott have agreed to amend Mr. Abbott's employment agreement. The amendment extends the term of his employment until December 31, 2014, unless ended earlier as per the original agreement's terms. It also updates a specific section to reflect the new end date. All other terms of the original agreement remain unchanged.
Exhibit 10.1
Crown Media Holdings, Inc.
June 27, 2012
Mr. William J. Abbott
50 Snowball Drive
Cold Spring Harbor, NY 11724
Re: Employment Agreement Amendment
Dear Mr. Abbott:
This will confirm our agreement to amend your employment agreement with Crown Media Holdings, Inc. (“Crown”) dated May 7, 2009, as subsequently amended (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 until December 31, 2014, unless otherwise terminated in accordance with the terms of the Agreement.
2. Section 8(a)(iii) shall be amended by replacing “December 31, 2011” with “December 31, 2014.”
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/ Donald J. Hall, Jr. | |
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| Donald J. Hall, Jr. | |
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| Co-Chairman of the Board | |
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| Agreed and Accepted: |
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| /s/ William J. Abbott |
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| William J. Abbott |
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