Second Amendment to Amended and Restated Employment Agreement between St. John Knits, Inc. and Marie St. John Gray
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Summary
This amendment updates the employment agreement between St. John Knits, Inc. and Marie St. John Gray. It increases Ms. Gray's base salary from $500,000 to $750,000, effective September 1, 2001, and clarifies that twice her base salary is $1,500,000. All other terms of the original agreement remain unchanged.
EX-10.45 3 dex1045.htm 2ND AMEND / MARIE ST. JOHN GRAY 2nd Amend / Marie St. John Gray
Exhibit 10.45
SECOND AMENDMENT
TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
This Second Amendment to Amended and Restated Employment Agreement (this “Second Amendment”), dated September 24, 2002, is entered into by and between St. John Knits, Inc., a California corporation (“Company”), and Marie St. John Gray, an individual (“Executive”), and amends terms of that certain Amended and Restated Employment Agreement, dated as of July 14, 1998, as amended, between the Company and Executive (the “1998 Agreement”). In consideration of the mutual covenants and agreement set forth herein, the parties hereto agree as follows (all capitalized terms not defined herein shall have the meanings set forth in the 1998 Agreement).
1. Section II.1 of the 1998 Agreement shall be amended to reflect an increase in the Base Salary from $500,000 to $750,000, effective as of September 1, 2001.
2. Section IV.5(e) of the 1998 Agreement shall be amended to reflect that twice Executive’s Base Salary shall be equal to $1,500,000.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.
| “Company” St. John Knits, Inc., a California corporation | ||
| By: | /s/ Bob Gray | |
| Bob Gray Chief Executive Officer | ||
| “Executive” | ||
| /s/ Marie St. John Gray | ||
| Marie St. John Gray | ||
