EXHIBIT 10.3
February 10, 1998
Xx. Xxxxxxx X. X'Xxxxx, Xx.
0000 Xxxxx Xxxx
Xxxxx, Xxxxxxx 00000
Dear Sir:
This letter will supplement and amend the employment agreement dated
February 10, 1998 between you and Xxxxxxxxxx Tank Lines, Inc. (the "Employment
Agreement").
1. Section 1 of the Employment Agreement is supplemented by adding the
following sentence: "During the Employment Period (as defined below) and until
such time as the Company shall be a Public Corporation (as defined in the
Shareholders' Agreement), if so requested by the Executive, the Company shall
take such action necessary to cause the continued appointment of the Executive
as a director to the Board (as defined below)."
2. Section 4(d) of the Employment Agreement is amended by deleting the
number "26,351" in the third line thereof and inserting in its place the
following: "25,500".
To evidence your agreement with the foregoing, please execute in the space
provided below and return said executed counterpart to us whereupon the
Employment Agreement shall be supplemented and amended as provided above and
this letter shall be a binding agreement between us effective as of the date of
this letter.
Very truly yours,
XXXXXXXXXX TANK LINES, INC.
By: /s/ Xxxxxxx Xxxxxxxxx
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Xxxxxxx Xxxxxxxxx
Senior Vice President
AGREED AND ACCEPTED:
EXECUTIVE
By: /s/ Xxxxxxx X. X'Xxxxx, Xx.
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Xxxxxxx X. X'Xxxxx, Xx.
