Current Report — Form 8-K Filing Table of Contents
Document/ExhibitDescriptionPagesSize
1: 8-K David R Little Employment Agreement Amendment No. HTML 14K
2
2: EX-10.1 David R Little Ea Amendment No 2 HTML 11K
Amendment
No. Two to Employment Agreement dated effective as of January 1, 2004, between
DXP Enterprises, Inc. and David R. Little.
WHEREAS,
the Company and the Executive desire to amend said Employment Agreement pursuant
to the provisions hereof.
NOW,
THEREFORE, in consideration of the covenants, and agreements set out below, the
parties agree as follows:
1.
All
terms defined in the Agreement, which are used in this Second Amendment,
shall have the same meaning as set forth in the Agreement except as
specifically changed or modified
hereby.
2.
Section
2(b)(ii) is hereby deleted in its entirety and is replaced by the
following:
Monthly
Bonus. In addition to Base Salary, the Employee shall be awarded each
month during the Employment Period, a monthly bonus (“Monthly Bonus”) in cash
and/or restricted stock equal to five percent (5%) of the profit before the tax
of the Company as shown on the books and records of the Company at the end of
each month. The Compensation Committee of the Board of Directors of
the Company can decide to pay all or a portion of the Monthly Bonus in the form
of Restricted Stock. The determination of whether the bonus is to be
paid in cash or shares of restricted stock will be made prior to the date on
which the amount of the bonus is determined. The number of shares of
restricted stock to be issued will be determined by dividing the portion of the
bonus to be paid in restricted stock by the closing price of a share of DXP
common stock on the last day of the month for which the bonus was earned,
rounded up to the nearest whole share.
3.
Except
as herein amended and modified, the Agreement shall remain in full force
and effect.
