Amendment to Employment Agreement between Hoenig Group Inc. and Fredric P. Sapirstein (Dated September 26, 2001)

Summary

This amendment updates the employment agreement between Hoenig Group Inc. and Fredric P. Sapirstein. It changes the renewal notice deadline for the current year, allowing either party to notify the other of non-renewal by November 16, 2001, instead of the original three-month requirement. If no notice is given, the agreement will automatically renew for one year from December 31, 2001. All other terms of the original agreement remain unchanged.

EX-10.6 3 file002.txt AMENDMENT DATED 9/26/01 TO THE EMPLOYMENT AGR EXHIBIT 10.6 - ------------ September 26, 2001 Fredric P. Sapirstein Hoenig Group Inc. Reckson Executive Park 4 International Drive Rye Brook, NY 10573 Dear Fred: Hoenig Group Inc. ("Hoenig") and you are parties to an employment agreement, dated January 2, 2000 (the "Agreement"). Capitalized terms used herein shall have the meanings ascribed to them in the Agreement. The Agreement provides that the Initial Period of employment ends on December 31, 2001 and that the Agreement will automatically be renewed for a one year period, unless either party notifies the other in writing of its intention not to renew the Agreement not less than three months prior to the end of the Initial Period. By your acceptance of this letter, Hoenig and you agree to amend the renewal provision for this year only so that the Agreement will automatically be renewed for an additional one year from December 31, 2001 unless either party notifies the other in writing of its intention not to renew the Agreement no later than November 16, 2001. All other terms and conditions of the Agreement shall remain in full force and effect. Very truly yours, Hoenig Group Inc. By: /s/Alan B. Herzog ----------------- Alan B. Herzog Chief Operating Officer Agreed and Accepted /s/Fredric P. Sapirstein - ------------------------ Fredric P. Sapirstein