EXHIBIT 10.15
SECOND AMENDMENT TO
FIRST AMENDED AND RESTATED
EMPLOYMENT AGREEMENT
This Second Amendment ("Amendment") to the Amended and Restated
Employment Agreement ("Employment Agreement") between ICO, Inc., a Texas
corporation (the "Company"), and Xxx X. Xxxx (the "Executive") is dated this
24TH day of October, 2002.
1. Subparagraph (g) of Paragraph 4 of the Employment Agreement
(entitled "Fringe Benefits") is hereby amended, effective as of November 1,
2002, to read as follows:
"During the Employment Period, the Executive shall be entitled to
fringe benefits in accordance with the policies of the Company as
in effect immediately preceding the Effective Date or as in effect
at any time thereafter with respect to other key executives. In
lieu of use of a Company vehicle, and maintenance, repair,
insurance, and fuel charges associated therewith, the Executive
shall receive a monthly vehicle allowance in the sum of $1,290.00
("Vehicle Allowance"), paid in advance on the first payday of each
month. The Vehicle Allowance shall be periodically adjusted to
reflect inflation. As reimbursement for fuel and vehicle-related
charges incurred by the Executive when using the Executive's
personal vehicle on Company business, the Executive shall be
reimbursed at the IRS reimbursement rate of $0.365 per mile (or
the prevailing rate)."
2. All terms and conditions in the Employment Agreement that are not
amended by this Amendment continue to be in full force and effect.
AGREED AND ACCEPTED:
ICO, INC.
By: /s/ C. N. X'Xxxxxxxx /s/ Xxx X. Xxxx
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Xxx X. Xxxx
Printed Name: C. N. X'Xxxxxxxx
Title: Chairman and President
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