Exhibit 10.2
AMENDMENT TO EMPLOYMENT AGREEMENT
This AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment"), dated March 1,
1996, is by and between Cambridge Industries, Inc. (the "Company") and Xxxxxxx
X. Xxxxxxxx ("Executive").
WHEREAS, Executive is employed by the Company pursuant to the terms of that
certain Employment Agreement (the "Agreement") dated as of November 17, 1995
between the Company and Executive.
WHEREAS, the Company and Executive wish to amend the Agreement.
NOW THEREFORE, in consideration of the agreements herein contained, the
parties hereto agree as follows:
1. Paragraph 3 of the Agreement is hereby amended by replacing "$400,000"
with "$475,000".
2. Paragraph 3 of the Agreement is hereby amended, effective the date
hereof, by adding after subparagraph (c) the following subparagraph:
"(d) In addition to the Base Salary, the Company shall pay Executive
$412,500 upon the acquisition of the Reinforced Plastic Division of
GenCorp, Inc., an Ohio corporation."
3. Applicable Law. All issues and questions concerning the construction,
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validity, interpretation and enforceability of this Amendment shall be governed
by, and construed in accordance with, the laws of the State of Michigan, without
giving effect to any choice of law or conflict of law provisions (whether of the
State of Michigan or any other jurisdiction) that would cause the application of
the laws of any jurisdiction other than the State of Michigan.
4. Counterparts; Effectiveness. This Amendment may be executed in any
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number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the
same instrument. This Amendment shall become effective upon the execution of a
counterpart hereof by each of the parties hereto, and written or telephonic
notification of such execution and authorization of delivery thereof has been
received by each party hereto.
* * * * *
IN WITNESS WHEREOF, the parties hereto have cause this Amendment to be
executed by their respective officers hereunto duly authorized as of the day and
year first written above.
CAMBRIDGE INDUSTRIES, INC.
By: /s/ [SIGNATURE APPEARS HERE]
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Name:
Title:
/s/ Xxxxxxx X. Xxxxxxxx
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XXXXXXX X. XXXXXXXX
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