Amendment to Employment Agreement among Donna Karan International Inc., The Donna Karan Company, and John D. Idol

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment, effective March 30, 2001, updates the employment agreement between Donna Karan International Inc., The Donna Karan Company, and John D. Idol. It clarifies that any vote cast by John D. Idol as a board member does not count as a corporate action initiated or recommended by him under a specific section of the agreement. All other terms of the original employment agreement remain unchanged.

Read More Arrow
EX-10.33 13 a2038805zex-10_33.txt EXHIBIT 10.33 EXHIBIT 10.33 AMENDMENT TO EMPLOYMENT AGREEMENT AMENDMENT, effective as of the 30th day of March, 2001 to the Employment Agreement dated as of July 25, 1997 and amended as of December 8, 2000 among Donna Karan International Inc. (the "Company"), a Delaware corporation, The Donna Karan Company ("DKCo."), a New York partnership and John D. Idol ("Executive"). W I T N E S S E T H: WHEREAS, the Company, DKCo. and the Executive have previously entered into the Employment Agreement; and WHEREAS, the Company, DKCo. and the Executive desire to further amend the Employment Agreement. NOW, THEREFORE, in consideration of the foregoing, the parties hereto agree as follows: 1. Section 10(b) of the Employment Agreement is hereby clarified, effective as of March 30, 2001, by adding the following language at the end thereof: "For purposes of Section 10(b)(ii), a vote cast by the Executive in his capacity as a member of the Board (whether in favor of or against a proposal put before the Board for a vote) shall not constitute a corporate action initiated or recommended by the Executive." 2. Agreement Otherwise Unchanged. The Employment Agreement, as so amended, shall remain in full force and effect. 3. Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original, but both of which together shall constitute the same agreement. [remainder of page intentionally left blank] Page 1 IN WITNESS WHEREOF, the parties have duly executed this Amendment as of the date first written above. DONNA KARAN INTERNATIONAL INC. By:___________________________ Name: Title: THE DONNA KARAN COMPANY By: DONNA KARAN INTERNATIONAL INC., GENERAL PARTNER By:___________________________ Name: Title: EXECUTIVE ------------------------------ John D. Idol Page 2