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EXHIBIT 10.2
AMENDED
EXECUTIVE EMPLOYMENT AGREEMENT
THIS AMENDED EXECUTIVE EMPLOYMENT AGREEMENT (the "Agreement") is made
and entered into as of this 20th day of January, 2000, by and between Waterlink,
Inc., a Delaware corporation (the "Company"), and T. Xxxxx Xxxx ("Executive").
W I T N E S S E T H :
WHEREAS, the Company and Executive entered into an Executive Employment
Agreement, dated as of May 21, 1998 (the "Employment Agreement"); and
WHEREAS, the Company and Executive desire to amend the Employment
Agreement, as provided below;
NOW THEREFORE, in consideration of the premises and mutual covenants
contained herein and for other good and valuable consideration, the adequacy and
receipt of which are hereby acknowledged, the parties agree as follows:
1. IMPROPER TERMINATION. Section 8(b)(ii) of the Employment Agreement
shall be amended to add thereto the following sentence. "Anything to the
contrary in this Agreement notwithstanding, for purposes of this Section 8(b)
the Bonus Payment shall not be less than Executive's Base Salary then in effect.
In the event the Bonus Payment is not otherwise determinable as of the Date of
Termination, Executive may elect, upon notice to the Company, to fix the Bonus
Payment for purposes of this Section 8(b) at an amount equal to Executive's Base
Compensation then in effect."
2. NO OTHER AMENDMENTS. Other than as expressly stated herein, the
Employment Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first set forth above.
WATERLINK, INC.
By: /s/Xxxxxx Xxxxxx
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Name: Xxxxxx Xxxxxx
Title: Chairman of the Board
/s/T. Xxxxx Xxxx
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T. Xxxxx Xxxx
