1
Exhibit 10.4.1
AMENDMENT TO EMPLOYMENT AGREEMENT
---------------------------------
THIS AMENDMENT is made and entered into on this 5th day of
August, 1999 at Medina, Ohio, by and between RPM, INC. (hereinafter referred to
as the "Company") and __________ (hereinafter referred to as "_____"):
W I T N E S S E T H:
--------------------
WHEREAS, _____ is ______________________ of the Company; and
WHEREAS, _____ and the Company entered into a certain
Employment Agreement, originally dated as of ____________ and last amended as of
July 15, 1998 (the "Employment Agreement"), to insure _____'s continued
employment with the Company; and
WHEREAS, it is the desire of the Company and _____ to amend
the Employment Agreement in accordance with the terms hereof; and
WHEREAS, Paragraph 11 of the Employment Agreement requires
that any such Amendment be in writing and properly executed;
NOW, THEREFORE, in consideration of the premises and the
mutual understandings of the parties, IT IS AGREED, as follows:
1. EMPLOYMENT TERM. Paragraph 1 of the Employment
Agreement shall be deleted in its entirety and amended and restated to provide
in its entirety as follows:
TERM OF EMPLOYMENT. The Company hereby agrees to
continue to employ _____, and _____ hereby agrees to continue
to serve the Company, on the terms and conditions set forth
herein for the period commencing as of the date hereof (the
"Effective Date"), and expiring on July 31, 2000 (unless
sooner terminated as hereinafter set forth).
2
2. COMPENSATION. Paragraph 4(a) of the Employment
Agreement shall be deleted in its entirety and amended and restated to provide
in its entirety as follows:
BASE SALARY. _____ shall receive a base salary at the
rate of not less than _________________Dollars ($________) per
annum ("Base Salary"), payable in substantially equal monthly
installments at the end of each month during the period of
_____'s employment hereunder. It is contemplated that annually
in July or August of each year the Compensation Committee of
the Board of Directors will review _____'s Base Salary and
other compensation during the period of his employment
hereunder and, at the discretion of the Compensation
Committee, it may increase his Base Salary and other
compensation based upon his performance, then generally
prevailing industry salary scales, the Company's results of
operations, and other relevant factors. Any increase in Base
Salary or other compensation shall in no way limit or reduce
any other obligation of the Company hereunder and, once
established at an increased specified rate, _____'s Base
Salary hereunder shall not be reduced without his written
consent.
3. EFFECTIVE DATE. The Effective Date of this Amendment
shall be August 5, 1999, except that the increase in compensation set forth in
Paragraph 2 shall be retroactively applied to June 1.
IN WITNESS WHEREOF, the parties have executed this Amendment
to the Employment Agreement on the date and at the place first above written.
IN THE PRESENCE OF: RPM, INC.
____________________________ By: ____________________________
And:____________________________
The "Company"
____________________________ ____________________________
________
