Amendment to Employment Agreement between Frederick’s of Hollywood Group Inc. and Donald Jones
Frederick’s of Hollywood Group Inc. and Donald Jones have agreed to amend Mr. Jones’s Employment Agreement, effective January 16, 2012. The amendment increases Mr. Jones’s annual base salary to $400,000, with any further increases subject to recommendation by the CEO and approval by the Compensation Committee. All other terms of the original Employment Agreement remain unchanged.
EXHIBIT 10.1
FREDERICK’S OF HOLLYWOOD GROUP INC.
6255 SUNSET BOULEVARD, 6TH FLOOR
HOLLYWOOD, CALIFORNIA 90028
February 9, 2012
Mr. Donald Jones
| Re: | Employment Agreement dated as of September 8, 2011 |
Dear Don:
We refer you to your Employment Agreement, dated as of September 8, 2011 (“Employment Agreement”) with Frederick’s of Hollywood Group Inc. (“Company”). This letter will serve to amend your Employment Agreement, effective as of January 16, 2012, as follows:
The first sentence of Section 3.1 (Base Salary) of the Employment Agreement shall be deleted in its entirety and replaced with the following:
“The Company shall pay to Executive a salary (“Base Salary”) at the annual rate of $400,000, with such increases as may be recommended by the Chief Executive Officer and approved by the Compensation Committee of the Board (“Committee”).”
Except as herein amended, all other provisions of the Employment Agreement shall remain in full force and effect.
Please confirm your agreement to the foregoing by countersigning and returning a copy of this letter.
| FREDERICK’S OF HOLLYWOOD GROUP INC. | ||
| By: | /s/ Thomas J. Lynch | |
| Thomas J. Lynch | ||
| Chief Executive Officer | ||
ACCEPTED AND AGREED:
/s/ Donald Jones
DONALD JONES
