Amendment to Employment Agreement between Racing Champions Limited and Peter K.K. Chung

Summary

This amendment updates the employment agreement between Racing Champions Limited and Peter K.K. Chung, effective September 19, 2000. The main change is an increase in Mr. Chung's base salary to $350,000 per year, starting October 1, 2000. All other terms of the original agreement remain unchanged.

EX-10.24 6 0006.txt AMENDMENT TO EMPLOYMENT AGREEMENT This amendment is made and entered into as of the 19th day of September, 2000, by and between Racing Champions Limited, a Hong Kong corporation, and Peter K.K. Chung. The parties wish to amend paragraph 4 of the Employment Agreement made as of the 30th day of April, 1999, to the following- '4. Compensation. As of October 1, 2000, the Employee shall receive a base ------------ salary of $350,000 per year, . . .' In witness whereof, the parties have executed this amendment as of the date first above written, to be effective as of that date. Racing Champions Limited By /s/ Dan Gill -------------- Dan Gill, Director By /s/ Peter K.K. Chung ----------------------- Peter K.K. Chung