AMENDMENT TO SERVICE AGREEMENT
Exhibit 10.3
AMENDMENT TO SERVICE AGREEMENT
THIS AMENDMENT TO SERVICE AGREEMENT (the “Amendment”), made as of this 1st day of
December, 2005, by and between Cronos Containers Limited, a company incorporated in England
and whose registered office is at the Xxx Xxxxx, Xxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxxxx XX0 0XX,
Xxxxxxx (“Employer”), and Xxxx X. Xxxxx (“Employee”),
W I T N E S S E T H:
WHEREAS, Employer and Employee entered into a Service Agreement, dated as of February 29,
2000, as amended December 17, 2001, November 5, 2002, November 4, 2003, May 28, 2004, and July 8,
2005 (hereinafter, the “Service Agreement”); and
WHEREAS, pursuant to clauses 2.1 and 2.2 of the Service Agreement, Employer agreed to employ
Employee, and Employee agreed to serve in the employ of the Employer, on an exclusive and full-time
basis, as the Senior Vice President — Operations of Employer, until November 30, 2006, subject to
earlier termination pursuant to the provisions of the Service Agreement; and
WHEREAS, Employer and Employee desire to extend the term of the Service Agreement;
NOW, THEREFORE, in consideration of the mutual covenants herein contained Employer and
Employee hereto agree as follows:
1. Extension of Term of Service Agreement. Employer agrees to employ the Employee,
and the Employee agrees to serve in the employ of the Employer, on an exclusive and full-time
basis, in the position identified for Employee in the Service Agreement, subject to the supervision
and direction of that person or persons set forth in the Service Agreement, until November 30,
2007, unless such period is sooner terminated by either party giving the other not less than three
(3) months written notice subject to the provisions of clauses 13.1 or 13.3 of the Service
Agreement.
2. Continuance in Force of Service Agreement. Other than as specifically amended
hereby, the terms and provisions of the Service Agreement shall remain in full force and effect.
[Signature page follows.]
1
IN WITNESS WHEREOF, the Employer and the Employee have signed this Amendment, effective
as of the day and year first above written.
“EMPLOYER” | ||||||
CRONOS CONTAINERS LIMITED | ||||||
By | /s/ Xxxxx X. Xxxxxxx | |||||
Its | Director | |||||
“EMPLOYEE” | ||||||
/s/ Xxxx X. Xxxxx | ||||||
XXXX X. XXXXX |
2