as of October 18, 1997
▇▇. ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
c/▇ ▇▇▇▇▇▇▇ Radio (Hong Kong) Ltd.
▇▇▇ - ▇▇▇, ▇▇▇▇▇ ▇
▇▇▇ ▇▇▇▇▇▇▇
▇▇-▇▇ ▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇
AMENDMENT NO. 1 TO EXTENSION OF EMPLOYMENT AGREEMENTS, DATED APRIL 16, 1997
Dear ▇▇. ▇▇▇▇▇▇:
This letter will confirm that you and ▇▇▇▇▇▇▇ Radio Corp. ("▇▇▇▇▇▇▇") have
agreed to amend certain terms and conditions of the Employment Agreement between
you and ▇▇▇▇▇▇▇, dated July 2, 1992, as amended by Extension of Employment
Agreements, dated April 16, 1997 ("Extension Agreement")(hereinafter,
collectively "▇▇▇▇▇▇▇ Employment Agreement"). Accordingly, it is hereby agreed
that Section 3 (a) of the ▇▇▇▇▇▇▇ Employment Agreement is deleted in its
entirety and Section 3 (c) is amended to delete reference to any Additional
Benefits, as defined therein, other than life, travel or accident insurance and
executive contingent compensation plans, including, without limitation, capital
accumulation programs and stock purchase, restricted stock and stock option
plans.
The parties hereto also expressly acknowledge and agree that, except as
expressly set forth herein, each of the ▇▇▇▇▇▇▇ Employment Agreement, the
Extension Agreement, the two (2) Employment Agreements between you and ▇▇▇▇▇▇▇
Radio (Hong Kong) Ltd. and you and ▇▇▇▇▇▇▇ Radio (B.V.I.), Ltd., both dated July
2, 1992 and also amended by the Extension Agreement, shall not be deemed to be
further amended or modified, and shall remain in full force and effect.
Please indicate your agreement to the terms of this letter in the space provided
below.
Very truly yours,
▇▇▇▇▇▇▇ Radio Corp. Acknowledged and Agreed
to as of the 18th day of
By:_______________ October, 1997
(Name)
_______________ ______________________
(Title) ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇