FIRST AMENDMENT
TO
EMPLOYMENT AGREEMENT
First Amendment to Employment entered into as of the 28th day of June, 1999
between HydroChem Industrial Services, Inc., a Delaware corporation,
("Employer"), and Xxxxxxx Xxxx, an individual ("Employee").
WHEREAS, Employer and Employee are parties to an Employment Agreement dated as
of September 26, 1997 (the "Employment Agreement"); and
WHEREAS, Employer and Employee desire to amend the Employment Agreement as
hereinafter set forth;
NOW THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:
1. The fourth paragraph of section 3 of the Employment Agreement shall be and
hereby is deleted, and the following shall be inserted in lieu thereof:
" Employee shall be a participant in the Employer's Deferred Bonus Plan
(the "Plan"). Subject to all terms and conditions of the Plan, Employee
shall be awarded deferred bonuses thereunder as of May 1, 1999 in the
amount of Eighty Thousand Dollars ($80,000) and as of May 1, 2000 in an
amount equal to his Performance Bonus for 1999. Any further awards of a
deferred bonus under the Plan shall be in the sole discretion of the
Employer's board of directors."
2. Exhibit A to the Employment Agreement shall be and hereby is deleted.
IN WITNESS WHEREOF, Employer and Employees have signed this First Amendment to
Employment Agreement as of the date first hereinabove set forth.
EMPLOYER EMPLOYEE
HydroChem Industrial Services, Inc. /s/ Xxxxxxx Xxxx
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Xxxxxxx Xxxx
By: /s/ Xxxx X. Xxxx
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Xxxx X. Xxxx, President and
Chief Operating Officer