EXHIBIT 10.2
AMENDMENT TO EMPLOYMENT AGREEMENT
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THIS AGREEMENT is entered into as of April 1, 2002, by and between
Westar Energy, Inc. (formerly named Western Resources, Inc.), a Kansas
corporation (the "Company") and Xxxxxxx X. Lake ("Executive").
W I T N E S S E T H
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WHEREAS, the Company and Executive entered into an Employment Agreement
(the "Employment Agreement") effective as of September 19, 2000; and
WHEREAS, the Company, as a cost-saving measure, has taken action to
reduce Executive's base salary, notwithstanding the provisions of the Employment
Agreement precluding such reduction; and
WHEREAS, Executive is willing to accept such reduction in base salary
provided the Company agrees to the terms of this Amendment to the Employment
Agreement; and
WHEREAS, as an inducement to Executive to accept such reduction in base
salary, the Company is willing to agree to the terms of this Amendment to the
Employment Agreement;
NOW, THEREFORE, the Company and Executive hereby agree as follows:
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1. Executive agrees to accept the reduction in his base salary pursuant
to the resolution approved by the Board of Directors of the Company on December
5, 2001.
2. The Company agrees that the benefits to which Executive is entitled
under the Employment Agreement and under the Company's other employee benefit
plans, programs, arrangements, and agreements, including without limitation the
annual incentive bonus and the Company's Executive Salary Continuation Plan,
shall be computed as if Executive's base salary had not been reduced.
3. Except as modified above, the Employment Agreement remains in full
force and effect.
IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
by a duly authorized officer of the Company and Executive has executed this
Agreement as of the day and year first above written.
WESTAR ENERGY, INC.
By: /s/ Xxxx X. Xxxxx
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Xxxx X. Xxxxx
Senior Vice President and
Chief Financial Officer
/s/ Xxxxxxx X. Lake
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Xxxxxxx X. Lake