Document:

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                                                                   Exhibit 10.17

May 2, 2001

Mr. Harlan Kent
5900 Graves Lake Drive
Cincinnati, OH  45243

Dear Harlan:

On behalf of the entire Yankee Candle team, I am delighted to confirm our offer
of employment as the Senior Vice President, Wholesale Operations of the Yankee
Candle Company, Inc. In this position you will report to me directly. Your
specific start date is to be determined and agreed to, with the expectation that
it will be no later than Monday, June 4, 2001.

The key components of our offer are as follows:

BASE SALARY

$4230.77 per week       $220,000.00 annualized

Subject to annual review beginning one year from start date.

SIGN-ON BONUS

One time sign-on bonus of $15,000, payable within one week of beginning the
position.

TARGET BONUS

40% of base salary, pro-rated for fiscal 2001.

EQUITY PARTICIPATION

You will be awarded a stock option grant that will allow you to acquire 70,000
shares of common stock. The exercise price for the shares will be the closing
price on the New York Stock Exchange on the day you accept this offer or on June
12, 2001 (the day before the next meeting of the Board of Directors), whichever
is lower. The stock option grant vests 25% per year at each anniversary of the
grant date.

EXECUTIVE DEFERRED COMPENSATION PLAN

You will be eligible to participate in The Yankee Candle Company, Inc. Executive
Deferred Compensation Plan. This plan allows you to defer up to $30,000 of
salary, which you can invest in Fidelity funds offered by the plan. Yankee
Candle will match 100% of the first $10,000 and 50% of the next $20,000 which
you choose to defer/invest. The company contribution is deposited after the
close of the fiscal

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year. You are 100% vested in your account balance.

BENEFITS

Pursuant to the documentation you have previously received.

RELOCATION

Yankee Candle agrees to pay for relocation from your present home. Specifically,
Yankee Candle agrees to pay: a real estate commission up to 6% on the sale of
your home; points associated with obtaining a mortgage on your new home to a
maximum of two points; usual and customary fees associated with a real estate
attorney and home inspection; packing, movement and unpacking of your household
goods; movement of up to two vehicles; up to two house hunting trips; and to
reimburse you for reasonable costs to store your household goods and temporary
living expenses for a period of up to six months. Temporary living expenses and
storage costs are to be approved by me personally. Where applicable, the
forgoing items will be grossed up for tax purposes.

SEVERANCE

Yankee Candle agrees that in the event that your employment is terminated by
Yankee Candle for any reason other than for "Cause", then you shall be paid a
lump sum severance payment in an amount equal to one year of your then current
annual base salary.

For purposes of this letter agreement, the term "Cause" shall mean (i)
intentional failure to perform reasonably assigned duties, (ii) dishonesty or
willful misconduct in the performance of duties, (iii) involvement in a
transaction in connection with the performance of duties to Yankee Candle or any
of its subsidiaries, which transaction is adverse to the interests of Yankee
Candle or any of its subsidiaries, and which is engaged in for personal profit
or (iv) willful violation of any law, rule, or regulation in connection with the
performance of duties (other than traffic violations or similar offenses).

Due to the nature of this position, we do require a signed Proprietary and
Confidential Information Agreement. This document is enclosed. Please return
this signed Offer Letter and the signed Agreement in the envelope enclosed.

I expect that these conditions are understood and acceptable to you. If you have
any questions or concerns, please contact me. Please return the necessary signed
documents by one week from the date of acceptance.

We all look forward to having you join our team and to the contributions you can
make in helping us achieve our goals. On a personal note, I very much look
forward to working with you.

Sincerely,

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Craig Rydin
President and Chief Executive Officer

         I agree that the terms outlined in this offer of employment are as
         described to me verbally, and I do accept these terms. I understand
         that this is an offer of employment, and is not an employment contract.

         Signed:

         /s/ Harlan M. Kent                          May 2, 2001
         ----------------------------------------    --------------
         Harlan M. Kent                              Date<PAGE>

                                 FIRST AMENDMENT
                                       TO
                              EMPLOYMENT AGREEMENT

         FIRST AMENDMENT, effective December 3, 2001, to the Employment
Agreement, dated January 1, 2000 (the "Agreement") between Hoenig Group Inc.
(the "Company") and Fredric P. Sapirstein (the "Executive").

         WHEREAS, the Company and the Executive desire to amend the Agreement in
certain respects:

         NOW, THEREFORE, the Agreement is hereby amended as follows:

         1.    The first sentence of Section 2 of the Agreement is hereby
amended and restated to read as follows:

               "Executive's employment under this Agreement shall commence on
               the date hereof and end on December 31, 2002 (the "Initial
               Period"), unless sooner terminated in accordance with the
               provisions of Section 4."

         2.    The proviso to the first sentence of Section 3(b) of the
Agreement is amended to read as follows:

               "provided, however, that in no case shall the Bonus Award for
               each of the fiscal years ending December 31, 2000, December 31,
               2001, and December 31, 2002 be less than $600,000 (the "Minimum
               Bonus Award").

         3.    Section 4(b) of the Agreement is amended by adding a new
subsection (5) thereto as follows:

               "(5) Executive shall participate, and the Company shall continue
               contributions on Executive's behalf, in all Company-sponsored
               health and welfare plans on terms no less favorable than as in
               effect on the Termination Date, which benefits shall continue
               until the earliest of (A) commencement of Executive's entitlement
               to comparable benefits under a plan provided by a new employer
               (if Executive in his sole discretion becomes employed by a new
               employer); (B) Executive's death and (C) expiration of the
               Initial Period or renewal Period, as the case may be."

         Except as amended hereby, the Agreement shall remain in full force and
effect.

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         IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first above written.

                                               HOENIG GROUP INC.

                                               By: /s/Alan B. Herzog
                                                   -----------------------------
                                               Title: Chief Operating Officer

                                               EXECUTIVE

                                               /s/Fredric P. Sapirstein
                                               ---------------------------------
                                               Fredric P. Sapirstein<PAGE>

                               SECOND AMENDMENT TO
                              EMPLOYMENT AGREEMENT
                              --------------------

         Second Amendment, dated December 20, 2001 (the "Amendment"), by and
between Hoenig Group Inc., a Delaware corporation (the "Company"), and Max H.
Levine (the "Executive").

         WHEREAS, the Company and the Executive have previously entered into an
Employment Agreement, dated October 8, 1998, as amended by the First Amendment
dated March 22, 2001 (the "Employment Agreement"); and

         WHEREAS, the Company and the Executive desire to amend the Employment
Agreement in certain respects;

         NOW, THEREFORE, in consideration of the premises and the mutual
agreements made herein, the Company and the Executive hereby agree as follows:

         1. The first sentence of Section 2 of the Employment Agreement is
hereby amended and restated to read as follows:

         "The Executive's employment under this Agreement shall have a term
commencing on January 1, 1999 and ending on June 30, 2002 (the "Employment
Term"), unless sooner terminated in accordance with the provisions of Section 4
(the "Employment Period")."

         2. Section 4 (a) of the Employment Agreement is hereby amended and
restated to read as follows:

         "(a) The Company may, with or without prior notice, terminate the
Employment Period with or without Cause, or upon Executive's Disability.
Executive may terminate the Employment Period only for Good Reason. This
Agreement shall automatically terminate upon the Executive's death. The
Employment Period shall also terminate upon expiration of the Employment Term.
Except as provided in Sections 4(b), 4(c), 4(d) and 4(k), in the event that the
Employment Period is terminated, the Executive's rights and the obligations of
the Company hereunder shall cease as of the effective date of such termination;
provided, however, that the Executive shall be entitled to receive any accrued
but unpaid Base Salary, any earned or deferred but unpaid Bonus Awards and any
amount accrued under Company benefit plans as provided pursuant to the terms of
such plans (the "Accrued Obligations").

         3. Section 4 of the Employment Agreement is hereby amended by adding a
new subsection 4(k) thereto as follows:

                                       2
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         "(k) In the event that the Employment Period terminates prior to the
end of a fiscal year due to the expiration of the Employment Term, the Executive
shall be entitled to receive, in addition to the Accrued Obligations, a payment
equal to (i) the Minimum Bonus Award multiplied by a fraction, the numerator of
which shall be the number of days elapsed in the fiscal year to the date of such
termination and the denominator of which shall be 365, and (ii) the Bonus
Formula calculated as if the fiscal year of the Company ended on the date of
such termination."

         4. Capitalized terms used herein and not otherwise defined shall have
the same meanings given them in the Employment Agreement.

         5. Except as expressly modified herein, the Employment Agreement shall
remain in full force and effect in accordance with its terms.

         IN WITNESS WHEREOF, the parties have executed this Amendment on the day
and year first above written.

                                                  HOENIG GROUP INC.

                                                  By: /s/Alan B. Herzog
                                                      --------------------------
                                                  Title: Chief Operating Officer
                                                         -----------------------

/s/ Max H. Levine
-----------------------------
           MAX H. LEVINE

                                       3

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