EXHIBIT 10.23
AMENDMENT TO MEMORANDUM EMPLOYMENT AGREEMENT
THIS AMENDMENT TO MEMORANDUM EMPLOYMENT AGREEMENT (the "Amendment"), made as of
this 5th day of November, 2002, by and between Cronos Containers S.r.L., an
Italian corporation (the "Employer"), and Xxxx Xxxxxxxxxxx (the "Employee"),
W I T N E S S E T H:
WHEREAS, Employer and Employee entered into a Memorandum
Employment Agreement, dated as of December 1, 1999, as amended on December 18,
2001 (hereinafter, the "Employment Agreement"); and
WHEREAS, pursuant to clauses 1.1 and 12.1 of the Employment
Agreement, Employer agreed to employ Employee, and Employee agreed to serve in
the employ of the Employer, on an exclusive and full-time basis, as the Vice
President of Europe of Employer, through November 30, 2003, subject to earlier
termination pursuant to the provisions of the Employment Agreement; and
WHEREAS, Employer and Employee desire to extend the term of
the Employment Agreement;
NOW, THEREFORE, in consideration of the mutual covenants
herein contained and other good and valuable consideration, the parties hereto
agree as follows:
6. Extension of Term of Employment Agreement. Employer
agrees to employ the Employee, and the Employee agrees to serve in the employ of
the Employer, on an exclusive and full-time basis, in the position identified
for Employee in the Employment Agreement, subject to the supervision and
direction
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EXHIBIT 10.23
of that person or persons set forth in the Employment Agreement, through
November 30, 2004, unless such period is sooner terminated by either party
giving the other not less than three (3) months written notice and pursuant to
the provisions of the Employment Agreement.
7. Continuance in Force of Employment Agreement. Other
than as specifically amended hereby, the terms and provisions of the Employment
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the Employer and the Employee have signed
this Amendment, effective as of the date and year first above written.
"EMPLOYER"
CRONOS CONTAINERS S.R.L.
By /s/ XXXXX X. XXXXXXX
Xxxxx X. Xxxxxxx
Its Director
"EMPLOYEE"
/s/ X. XXXXXXXXXXX
X. Xxxxxxxxxxx
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