Amendment No. 1 to Employment Agreement between ValueVision International, Inc. and Roy Seinfeld

Summary

This amendment updates the employment agreement between ValueVision International, Inc. and Roy Seinfeld. The main change is to extend the term of Mr. Seinfeld's employment, specifying that it will now continue on a full-time basis until September 10, 2003. All other terms of the original agreement remain unchanged. The amendment is effective as of December 19, 2001.

EX-10.2 5 c70209exv10w2.txt AMENDMENT TO EMPLOYMENT AGREEMENT - ROY SEINFELD EXHIBIT 10.2 AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT THIS AMENDMENT NO. 1 ("Amendment") is made as of the 19th day of December, 2001, to the Employment Agreement, made as of the 31st day of July, 2000 (the "Employment Agreement"), by and between ValueVision International, Inc., a Minnesota corporation (hereinafter referred to as "Employer"), and Roy Seinfeld (hereinafter referred to as "Employee"). WITNESSETH: WHEREAS, Employer and Employee mutually desire to amend the provisions of the Employment Agreement as set forth below; NOW, THEREFORE, in consideration of the premises and mutual promises contained in this Amendment, the parties hereto agree as follows: 1. The first sentence of Section 2 "Term" of the Employment Agreement is hereby amended in its entirety to read as follows: "The term of Employee's employment hereunder shall commence on the date hereof and shall continue on a full-time basis until September 10, 2003 (the "Term")." This Amendment shall become effective as of the date first above written. IN WITNESS WHEREOF, the parties hereto have executed or caused this Amendment No. 1 to be executed as of the day, month and year first above written. EMPLOYER: VALUEVISION INTERNATIONAL, INC. By: /s/ Gene McCaffery -------------------------------- Gene McCaffery Its: Chief Executive Officer EMPLOYEE: By: /s/ Roy Seinfeld -------------------------------- Roy Seinfeld 1