September 7, 2011 Robert Blocker
EXHIBIT 10.2
September 7, 2011
Xxxxxx Xxxxxxx
0000 Xxxxxxxxx Xxxx Xxxxx
Xxxxxxxx, XX 00000
RE: | Employment Agreement |
Dear Xxx:
Per your conversation with Xxxx Xxxx and Xxxx Xxxxxx, we are attaching this addendum to your previously executed employment agreement.
SEVERANCE
In the event that your employment is terminated without cause during the first year of your ACL employment, the Company shall pay to you an amount equal to six (06) months of your then current base salary. Any payments made by the Company shall be governed and administered by the Company’s Severance Policy and (a) be subject to appropriate withholdings and deductions, (b) be paid to you in periodic installments in accordance with the Company’s regular payroll schedule, and (c) be contingent upon you executing a mutually acceptable severance agreement and release. After your first employment anniversary, your severance opportunity shall revert to the Company’s standard Severance Policy.
Sincerely,
/s/ Xxxxxxx Xxxxxx
Xxxxxxx X. Xxxxxx
Director, Human Resources
American Commercial Lines (ACL)
American Commercial Lines