Addendum to Services Agreement Between Cybex International, Inc. and UM Holdings, Ltd. (August 1, 2003)

Summary

This addendum modifies the existing Services Agreement between Cybex International, Inc. and UM Holdings, Ltd. It states that the shared employee will now serve as Chief Financial Officer of Cybex and will dedicate 80% of his time to Cybex matters. As a result, Cybex will increase the compensation paid to UM Holdings to $192,000 per year. All other terms of the original agreement remain unchanged.

EX-10.8 10 dex108.htm ADDENDUM DATED AUGUST 1, 2003 TO SERVICES AGREEMENT DATED FEBRUARY 26, 2002 ADDENDUM DATED AUGUST 1, 2003 TO SERVICES AGREEMENT DATED FEBRUARY 26, 2002

Exhibit 10.8

ADDENDUM

This Addendum is dated August 1, 2003 and modifies that certain Services Agreement, dated February 26, 2002, between Cybex International, Inc. (“Cybex”) and UM Holdings, Ltd. (“UM Holdings”) (the “Services Agreement”).

Cybex and UM Holdings hereby agree that terms of the Services Agreement shall be modified to reflect that the Shared Employee shall serve as Chief Financial Officer of Cybex. Further, the amount of time the Shared Employee devotes exclusively to Cybex matters shall increase to eighty percent (80%) of his time and Cybex agrees to increase the compensation due to UM Holdings to $192,000 per annum. In all other respects the Services Agreement remains in full force and effect.

IN WITNESS WHEREOF, Cybex and UM Holdings have caused this Addendum to be executed as of the date first written above by their respective officers thereunto duly authorized.

CYBEX INTERNATIONAL, INC.

By:		/s/ John Aglialoro
Name:		John Aglialoro
Title:

UM HOLDINGS, LTD.

By:		/s/ Jordan S. Mersky
Name:		Jordan S. Mersky
Title:		Vice-President and General Counsel