1
Exhibit 10(e)
AMENDMENT TO CONSULTING AGREEMENT
This AMENDMENT dated as of May 1, 1998 to the Consulting
Agreement (the "Consulting Agreement") dated as of May 6, 1997 between Telex
Communications Group, Inc. (the "Company"), as successor to GST Acquisition
Corp., Inc., and Greenwich Street Capital Partners, Inc. ("Greenwich").
W I T N E S S E T H :
WHEREAS, Section 5(a)(i) of the Consulting Agreement provides
that the Consulting Agreement will terminate upon, the earlier to occur of (i)
the tenth anniversary of the date thereof and (ii) the date on which Greenwich
Street Capital Partners, L.P., directly or indirectly, no longer owns any shares
of the capital stock of the Company;
WHEREAS, Greenwich and the Company have agreed to amend the
Consulting Agreement so that the outside termination date thereof is the fifth
anniversary of the date of such Consulting Agreement;
NOW, THEREFORE, the Consulting Agreement is hereby amended,
pursuant to Section 14 thereof, by mutual agreement of the parties thereto as
follows:
1. Section 5(a) is amended and restated in its entirety to
read as follows:
"This Agreement shall be in effect until, and shall
terminate upon, the earlier to occur of (i) the fifth
anniversary of the date hereof and (ii) the date on
which Greenwich Street Capital Partners, L.P.
directly or indirectly no longer owns any shares of
the capital stock of the Company, and
2
may be earlier terminated by Greenwich, in its sole
discretion, upon 15 days' prior written notice to the
Company".
IN WITNESS WHEREOF, the parties have duly executed this
Amendment as of the date first above written.
TELEX COMMUNICATIONS GROUP, INC.
By:____________________________________
Name:
Title:
GREENWICH STREET CAPITAL PARTNERS, INC.
By:____________________________________
Name:
Title:
2